First of all, damn.... what a beating this stock took Wednesday. Dropping PRs premarket is rarely a good idea, but in hindsight there could actually be a good reason for the time of the PR.
We spent several hours digging through the filings in Utah and Delaware, Crunchbase data, perused the early DD from SpacTrader, OTC Falcon, and several others. Good work, but I think there is a lot more to this story. IMO. DYOR.
Check out the new website: https://glidrail.com/
Product Video: https://vimeo.com/763962628
Genesis Electronics is no longer searchable in the Utah database, meaning name change should be announced soon.
The primary merger is yet to take place, and when the dust settles it will be Einride US Inc that merges into the shell company that is currently $GEGI.
Kasey Evans is the smoking gun. Lane VC, lead investor in Einride. See Crunchbase ref below. Joined $GEGI as a board advisor same day as the amended Quarterly returns on 29-Aug. Interesting update will be the Q3 returns due on or before 15-Nov.
The Glid, LLC PR today provides proof that Glid, LLC is not the center of the merger. Glid, LLC is a subsidiary.
Glid, LLC as a business is a perfect subsidiary to Einride given the regulatory and energy challenges for EV fleets, shortening the distance of unmanned movements by utilizing rail as the primary mode of transportation for intermodal shipping. Glid PR stated 4-6 months, mitigation of regulatory challenges.
The GEGI website states that the company will merge and acquire companies in autonomous transportation, autonomous flight, and AI.
Einride US Inc can follow numerous examples of foreign companies that started listings through OTC shell mergers.
Let's take a look.
Glid, LLC PR Announcement, 3:01AM EDT / 9:01AM CET (Sweden)
Einride is a freight technology company founded in Sweden in 2016 that develops electrified commercial trucks, fully autonomous Class 8 trucks, and comprehensive fleet software to manage them. It doesn't make sense to drop a PR at 3AM on the US east coast, but 9AM in Sweden makes a lot of sense.
Einride Release, November 02, 15:00 EDT -
No one knows the content of the release, and the timing in relation to today's PR is an interesting coincidence. The dates and events for both companies have been synchronous since April 2022.
Crunchbase VC, Announced 16-March-2022
It is very curious that immediately following announcement, Einride US Inc and Glid, LLC file formation and organization documents in Utah within a few days of each other.
Secondary Market: A secondary market transaction is a fundraising event in which one investor purchases shares of stock in a company from other, existing shareholders rather than from the company directly. Lane VC, lead investor.
Timing for Formation and Organization
Organization of Glid, LLC and Einride US Inc were both organized in the State of Utah the last week of April. Glid organized on 29-April-2022, with Einride to commence operations on 01-May-2022, expedited organization filed on 20-April-2022.
Certificate of Organization: Glid, LLC (State of Utah)
Einride US Inc Filings (State of Utah)
Application for Authority to Conduct Affairs for a Foreign Corporation
Date of Filings: Expedited, 20-April-2022
Corporation Intends to Commence Business in Utah: 01-May-2022
Einride US Inc Filings (State of Delaware)
Amended Filings and Kasey Evans
Lane VC is the Registered Agent for Einride US Inc in Utah
Kasey Evans is a Founding Partner at Lane VC, board advisor to both Einride and Glid, LLC. Official PR of Kasey Evans joining GEGI as an advisor was published the same day as the Revised Quarterly Report to OTC Markets.
Kasey Evans, Lane VC, lead investor in Einride. See Crunchbase. Joined $GEGI as a board advisor same day as the amended Quarterly returns on 29-Aug. Interesting update will be the Q3 returns due on or before 15-Nov.
Kasey also commented on the Glid PR today on LinkedIn.
Glid Rail (pronounced Glide)
Andrew Van Noy
Andrew Van Noy is an entrepreneur and founder of several companies, including former CEO for CloudCommerce. Andrew has a powerful circle of friends in Washington DC, VC and equity circles, and has led AI and software companies as an entrepreneur and CEO.
Andrew Van Noy, Trump Ally
You probably remember CloudCommerce from the Trump administration and Brad Parscale. Andrew and Parscale worked closely together during the 2020 campaign.