Genius Group Announces That Half of Any Future Litigation Proceeds Will Be Used to Purchase Bitcoin

BlockBeats News, June 26 — According to a report from globenewswire, NYSE-listed company Genius Group Limited announced today that its board of directors has approved a revenue distribution plan: in the event of any successful legal claims in the future, half of the net proceeds will be distributed to shareholders, while the other half will be used to purchase Bitcoin to bolster the company’s Bitcoin reserves.

Roger Hamilton, CEO of Genius Group, stated: “The company currently has two legal cases, one of which has already been filed and the other is about to be submitted, with total claims exceeding $1 billion. Since both lawsuits are aimed at recovering direct losses suffered by our shareholders from third parties, the board believes that, should the cases be won, 100% of the proceeds should be directly allocated to shareholder distribution or reinvestment to maximize shareholder value.”