Genesis Electronics Group (OTC:GEGI) Stock Surges 40%: What’s The Buzz?

If you are on the lookout for innovative and potentially disruptive companies, then it could be a good time to take an interest in Genesis Electronics Group (OTC:GEGI). Glid is a fully owned subsidiary unit of the company and is involved in the development of unique autonomous road and rail shipping vehicles.

These vehicles are called Gliders. The vehicles would help with providing fully loaded semi-trailers with access to rails. It was something that had previously not been found to be practical. Genesis Electronics Group is intent on the operation and ownership of each Glider on its own. It seeks to build a ‘Glider as a Business Model. It could be a good idea for investors to take a closer look at the company, given that its stock started off the week strongly and clocked gains of 40% on Monday.

On July 20, Genesis Electronics Group announced that it had entered into a partnership agreement with the firm Sensored Technologies Inc. Sensored managed to come up with a unique patent-pending, NFC-backed, Internet of Things, real-time data security, cloud-based digital cargo theft product. The product in question is named CargoSecure.

The company is led by its Chief Executive Officer and Founder, David Craig. It is intent on solving some of the biggest problems in the world in the fields of commercial transportation and supply chain management. Cargo theft is one of the biggest problems worldwide, and currently, it costs the United States economy alone $15 billion to $30 billion a year, as per figures from the National Insurance Crime Bureau. The aim of the CargoSecure solution is to secure cargo and prevent and deter frequent theft through the use of technology.

The Chief Executive Officer of Genesis Electronics Group, Kevin Damoa, spoke about the development as well. He noted that he was happy to have added another major safety feature to its offerings. It would help in providing protection to the cargo of its customers while in transit. He went on to add that the CargoSecure solution addressed a significant problem.

On June 12, Genesis Electronics Group announced that it had inked a binding exclusive manufacturing agreement to manufacture Glid units with the firm Bart Manufacturing Inc. Both companies provided confirmation that the production of the Glid units would begin at the end of the summer after the completion of the final joint design process.

The joint design work would be conducted at the advanced facility that is owned by Bart in Stockton, California. At that facility, Bart came up with engineering solutions for a range of industries, starting from aerospace and consumer electronics to industrial systems and technology, among others. Damoa, the CEO of Genesis Electronics Group, noted that from the outset of the partnership, the two companies were aligned in their quest to come up with a high-quality product. It was also announced at the time that the agreement between the two companies was broad-based and comprehensive.