MIAMI, Nov. 28 /PRNewswire-FirstCall/ -- China West II yesterday announced it has filed an additional law suit in Miami Dade County, Florida state court against Genesis Pharmaceuticals (BULLETIN BOARD: GNPH) , (Genesis) f/n/a Genesis Technology Group, Inc. (GTEC) and Genesis Equity Partners II (GEP II) for GEP II's failure to pay a $190,000 promissory note that became due in August 2008 and for Genesis failure to pay its guarantee of 75% of the amount due under the note.
Due to circumstances beyond our control, the conference call which had been scheduled for today, November 28, has been canceled and rescheduled. Capital Research Group will hold a shareholder caucus, via teleconference on November 29, 2008 at 5 pm EST. The purpose of this teleconference and online gathering will be to discuss the prospect of potential shareholder litigation against Genesis Pharmaceutical Enterprise, GTEC Current and Past Directors and GTEC Holdings. The telephone number for the conference is 1-866-212-0875 and the pass code is 161768.
China West II is represented by Jeffrey Tew, Esq., Tew Cardenas, 15th Floor Four Seasons Tower, 1441 Brickell Avenue, Miami, FL 3331. Genesis is represented by Benjamin Olive, Esq., Olive & Associates, 2438 E. Las Olas Blvd., Fort Lauderdale, FL 33301. China Wind Systems traded as high as $6.00.
Certain statements set forth in this press release constitute 'forward- looking statements.' Forward-looking statements including, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words 'estimate,' 'project,' 'intend,' 'forecast,' 'anticipate,' 'plan,' 'planning,' 'expect,' 'believe,' 'will likely,' 'should,' 'could,' 'would,' 'may' or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- especially those relating to China, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws, restrictions and regulations on doing business in a foreign country, in particular China, and conditions of equity markets. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.
