The Genio Group released a financial report covering the company's results for its initial period of operations from May 14 to September 30. During the 5-month period covered by its initial report Genio managed to sell some $837,634 worth of its Marvel game.
Genio has a license from Marvel to create an educational card game in which Marvel Characters explain some 30 different subject areas (see 'Marvel Licenses Educational Card Game'). In its first five months of operation, Genio has managed to get its cards into some 15,000 retail outlets. In late November the company began a TV ad campaign for its flagship product line (see 'Genio Uses TV Spots to Push Marvel-Licensed Cards').
In December of 2003, Genio closed a $1 million private placement of common stock and warrants. The proceeds of this equity financing will be used to fund working capital requirements such as inventory, advertising, and new product development.