Genius Group Limited has provided updates on several ongoing legal matters. The company is engaged in litigation with Marco & Sandra Johnson over an alleged breach of contract concerning the acquisition of the University of Antelope Valley, with an arbitrator recently appointed and arbitration pending. Additionally, Genius Group is defending against a lawsuit filed by Sabby Volatility Warrant Master Fund Ltd in New York for an alleged breach of contract related to warrants issued in January 2024. The company has also initiated legal action against alleged stock market manipulation, with damages estimated between $251.3 million and $262.7 million. Lawyers have completed due diligence and are securing funding to proceed with the case. On the employee compensation front, Genius Group has implemented initiatives to support...Show More

Genius Group Limited has provided updates on several ongoing legal matters. The company is engaged in litigation with Marco & Sandra Johnson over an alleged breach of contract concerning the acquisition of the University of Antelope Valley, with an arbitrator recently appointed and arbitration pending. Additionally, Genius Group is defending against a lawsuit filed by Sabby Volatility Warrant Master Fund Ltd in New York for an alleged breach of contract related to warrants issued in January 2024. The company has also initiated legal action against alleged stock market manipulation, with damages estimated between $251.3 million and $262.7 million. Lawyers have completed due diligence and are securing funding to proceed with the case. On the employee compensation front, Genius Group has implemented initiatives to support cash flow, including a bonus plan for deferred salaries and a share pool plan for compensation in shares. Approximately $370,000 in salaries is expected to be deferred by the end of Q3 2024, with repayment of about $550,000 by the end of Q4 2024. Also, around 936,000 common shares are anticipated to be issued as employee compensation, valued at $1,112,000. These initiatives reflect the employees' support and loyalty to the company.