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Genius Group | 6-K: Report of foreign private issuer [Rules 13a-16 and 15d-16]

Genius Group | 6-K:外国发行人报告

SEC announcement ·  03/06 16:35
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On March 6, 2024, Genius Group Limited reported the closure of its subsidiary, the University of Antelope Valley (UAV), and the initiation of legal action against the sellers of UAV, Marco and Sandra Johnson. The UAV Board of Trustees and management are coordinating with educational authorities to ensure a smooth transition for students to complete their studies. Despite the closure, Genius Group does not anticipate a material impact on its financials, maintaining its 2024 revenue guidance of $58.0 million to $60.0 million and adjusted EBITDA of $2.5 million to $3.0 million. The company is shifting its revenue model from campus-based to online. Genius Group is also pursuing a civil suit against the Johnsons for issues related to the UAV campus, including overcharging rent and failing to maintain the property, which led to an eviction notice and subsequent campus evacuation. The company has provided over $4 million in funding to UAV since the acquisition and will continue with the lawsuit to seek legal remedies.
On March 6, 2024, Genius Group Limited reported the closure of its subsidiary, the University of Antelope Valley (UAV), and the initiation of legal action against the sellers of UAV, Marco and Sandra Johnson. The UAV Board of Trustees and management are coordinating with educational authorities to ensure a smooth transition for students to complete their studies. Despite the closure, Genius Group does not anticipate a material impact on its financials, maintaining its 2024 revenue guidance of $58.0 million to $60.0 million and adjusted EBITDA of $2.5 million to $3.0 million. The company is shifting its revenue model from campus-based to online. Genius Group is also pursuing a civil suit against the Johnsons for issues related to the UAV campus, including overcharging rent and failing to maintain the property, which led to an eviction notice and subsequent campus evacuation. The company has provided over $4 million in funding to UAV since the acquisition and will continue with the lawsuit to seek legal remedies.
2024年3月6日,Genius Group Limited报告称,其子公司羚羊谷大学(UAV)已关闭,并对无人机卖方马可和桑德拉·约翰逊提起法律诉讼。无人机董事会和管理层正在与教育当局进行协调,以确保学生顺利完成学业。尽管关闭,但Genius集团预计不会对其财务状况产生重大影响,维持其2024年的收入预期为5,800万美元至6,000万美元,调整后的息税折旧摊销前利润为250万至300万美元。该公司正在将其收入模式从校园转向线上。Genius Group还就与无人机校园相关的问题对约翰逊一家提起民事诉讼,包括超额收取租金和未能维护房产,这导致了驱逐通知和随后的校园撤离。自收购以来,该公司已向无人机提供了超过400万美元的资金,并将继续提起诉讼以寻求法律补救措施。
2024年3月6日,Genius Group Limited报告称,其子公司羚羊谷大学(UAV)已关闭,并对无人机卖方马可和桑德拉·约翰逊提起法律诉讼。无人机董事会和管理层正在与教育当局进行协调,以确保学生顺利完成学业。尽管关闭,但Genius集团预计不会对其财务状况产生重大影响,维持其2024年的收入预期为5,800万美元至6,000万美元,调整后的息税折旧摊销前利润为250万至300万美元。该公司正在将其收入模式从校园转向线上。Genius Group还就与无人机校园相关的问题对约翰逊一家提起民事诉讼,包括超额收取租金和未能维护房产,这导致了驱逐通知和随后的校园撤离。自收购以来,该公司已向无人机提供了超过400万美元的资金,并将继续提起诉讼以寻求法律补救措施。
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