BlockBeats News, June 26th, according to globenewswire report, Genius Group Limited, a New York Stock Exchange-listed company, announced today that its board of directors has approved a profit distribution plan: any future net proceeds from successful legal actions will be split in half, with half distributed to shareholders and the other half used to purchase Bitcoin to bolster the company's Bitcoin reserves.
Genius Group CEO Roger Hamilton stated: "The company is currently involved in two legal cases, one of which has been filed, and the other is about to be submitted, with a total claim amount exceeding $1 billion. As both of these lawsuits aim to recover direct losses incurred by our shareholders from third parties, the board believes that once the cases are won, all proceeds should be used 100% directly for shareholder distribution or reinvestment to maximize shareholder value."
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