Genius Group Ltd 6-K, filed Mar 7, 2024
Genius Group Ltd (GNS)
About this 6-K
Genius Group Ltd filed this 6-K on March 7, 2024.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO
RULE 13A-16 OR 15D-16 UNDER THE SECURITIES
EXCHANGE ACT OF 1934
For the month of March, 2024
Commission File Number: 001-41353
Genius Group Limited
(Translation of registrant’s name into English)
8 Amoy Street, #01-01
Singapore 049950
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ________.
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ________.
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
Statement from UAV Board of Trustees Regarding Closure of Campus
On March 6, 2024, Genius Group Limited (the “Company” or “Genius Group”) received a statement from the Board of Trustees of its subsidiary, the University of Antelope Valley, Inc (UAV) announcing the closure of the university and legal action against the sellers of UAV, Marco and Sandra Johnson.
Genius Group supports the decision of the UAV Board of Trustees and UAV management, and will work together with UAV and relevant authorities on a smooth closure and transition of all students.
Genius Group is pursuing a civil suit against the Johnsons in the Superior Court of California, County of Los Angeles. The case is entitled “University of Antelope Valley v. Sandra Johnson, et al., LASC Case No. 23AVCV01437. [
The management of Genius Group does not believe that the closure of the university will have any material impact on the financials of the Company, as it has previously announced its transition to revenues away from campus revenue to online revenue.
The Company maintains its 2024 guidance released on 22 January, 2024 of estimated annual revenue of $58.0 million to $60.0 million, adjusted EBITDA of $2.5 million to $3.0 million, and number of students (and users) 9.5 million to 10 million.
The UAV Statement is filed herewith as Exhibit 99.1
The information in this Current Report on Form 6-K and Exhibit 99.1 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. The information contained in this Current Report and in Exhibit 99.1 to this Current Report shall not be incorporated by reference into any filing with the SEC made by the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.
Exhibit Index
| Exhibit | ||
| 99.1 | Genius Group launches AI Avatar C-Suite, Featuring Einstein, Michelangelo & George Washington | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| GENIUS GROUP LIMITED | ||
| Date: March 6, 2024 | ||
| By: | /s/ Roger James Hamilton | |
| Name: | Roger James Hamilton | |
| Title: | Chief Executive Officer and Chairman (Principal Executive Officer) | |
Exhibit 99.1
Genius Group launches AI Avatar C-Suite,
Featuring Einstein, Michelangelo & George Washington
SINGAPORE, March 7, 2024 - Genius Group Limited (NYSE American: GNS) (“Genius Group” or the “Company”), a leading entrepreneur edtech and education group, announced today the launch of artificial intelligence (“AI”) Avatar C-Suite Teams on its Edtech platform, GeniusU, with the integration of 50 AI-powered “Expert” Avatars and Tools to support entrepreneurs.
Following the successful launch of Genius Group’s AI Avatar Tutor Team, “Student AI”, which has attracted over 30,000 students within the first three months since launch, Genius Group has launched “Genius Team AI” for the 5.4 million entrepreneur students on its Edtech platform, GeniusU.
The Genius Team AI suite provides entrepreneurs with:
| ● | 32 AI Avatar Expert Advisors based on different perspectives, personalities, and expertise based on famous characters, from Albert Einstein and Michelangelo to Marco Polo and Marie Curie. New AI Avatars are planned for launch, in partnership with bestselling authors, thought leaders and influencers. |
| ● | 12 AI Tools to support entrepreneurs including content creators, document summarizers, report generators, YouTube video conversions, AI Image Generators, AI speech to text, AI voice to text and additional tools to enable entrepreneurs to build their own AI advisory team and AI C-Suite with tools to accelerate their effectiveness. |
| ● | Instant AI language conversion from English to German, Spanish, French, Dutch, Danish, Portuguese, Polish, Arabic, Hindi, Turkish, Thai and Chinese. |
| ● | AI education courses from one day AI Workshops to two week AI Microschools, and membership levels to enable company founders and their teams to upskill with the latest AI tools and access the latest experts and resources. |
Genius Group’s Head of Digital Content and Resident AI Mentor, Suraj Naik, said “Following the launch of our Student AI, the rapid launch of Genius Team AI is the result of requests from our global community to provide an equally powerful AI avatar team for our entrepreneur user base. As a result of the increasing demand for AI avatars that can build memory and personalization to support each user, we are seeing an ongoing drop in our user acquisition cost, from approximately $1 per student last year to under $0.40 per student by January and now down to $0.33 in March.”
Genius Group’s CEO, Roger Hamilton, said “We believe the future of AI is not in developing one AI system, but in AI avatar teams which can each specialize in a different area. The demand for both Student AI and Genius Team AI is evidence of this, where we now have over 1,000 new sign ups per day so soon after launching. As our students and users build up their AI teams to supercharge their performance and productivity, demand for our courses and communities that enable them to be effective AI pilots – a demand which we are optimistic will continue to grow.”
Genius Team AI is open for free trial at https://geniusteam.ai/
Student Team AI is open for free trial at https://studentai.app
About Genius Group
Genius Group is a world leading entrepreneur Edtech and education group, with a mission to disrupt the current education model with a student-centered, life-long learning curriculum that prepares students with the leadership, entrepreneurial and life skills to succeed in today’s market. The group has a group user base of 5.4 million users in 200 countries, ranging from ages 0 to 100.
For more information, please visit https://www.geniusgroup.net/
Contacts
US Investors:
Dave Gentry
RedChip Companies Inc
1-800-RED-CHIP
GNS@redchip.com