Summary by Moomoo AI
On January 25, 2024, the United States Securities and Exchange Commission (SEC) addressed a letter to Roger Hamilton, the CEO of Genius Group, regarding a post-effective amendment to their registration statement on Form F-1, which was initially filed on January 16, 2024. The SEC's letter requested clarification on how the securities transaction completed by Genius Group on January 17, 2024, complied with Section 5 of the Securities Act. The SEC noted a discrepancy where Genius Group's registration statement, declared effective on January 11, 2024, covered the sale of up to 15,673,981 Series 1 and Series 2 units, each consisting of ordinary shares and warrants. However, a press release issued by Genius Group on January 17, 2024, disclosed the sale of 23,571,429 ordinary shares along with Series 2024-A and Series 2024-C warrants to...Show More