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Genius Group announced that half of the profits from any future lawsuits will be used to purchase Bitcoin.
On June 26, according to globenewswire, the NYSE-listed company Genius Group Limited announced today that its board of directors has approved a profit distribution plan: in the future, any profits gained from legal victories will have half of the net proceeds distributed to shareholders, and the other half used to purchase Bitcoin to enrich the company’s Bitcoin reserves. Genius Group CEO Roger Hamilton stated, “The company currently has two legal cases, one has been filed, and the other is about to be submitted, with total claims exceeding $1 billion. Since both lawsuits aim to recover direct losses caused to our shareholders by third parties, the board believes that once the cases are won, 100% of all profits should be directly allocated to shareholder distribution or reinvestment to maximize shareholder interests.”