GENQ
Genesis Unicorn Capital Corp. Class A Common Stock
stock NASDAQ

[Environmental Solutions Group Holdings Limited and Genesis Unicorn Capital Corp. Announce Closing of Business Combination](https://www.globenewswire.com/en/news-release/2023/08/03/2718037/0/en/Environmental-Solutions-Group-Holdings-Limited-and-Genesis-Unicorn-Capital-Corp-Announce-Closing-of-Business-Combination.html) \- GENQ -> ESGL GENQW -> ESGLW on August 4, 2023
ESGL is not a ***SPAC***, it is a ***deSPAC***, which is merging with a 3rd company.
This is important because there were [41,816,240 ordinary shares issued and outstanding as of April 16, 2025](https://www.sec.gov/Archives/edgar/data/1957538/000164117225006599/form20-f.htm#:~:text=41%2C816%2C240%20ordinary%20shares%20issued%20and%20outstanding%20as%20of%20April%2016%2C%202025) of ESGL stock. Zero of those shares will be redeemed in the merger vote. So it seems a low float run is unlikely.
Of course, ESGL will also be issuing **one billion new shares**, [valued at $1.03 each](https://www.sec.gov/Archives/edgar/data/1957538/000164117225012123/ex99-1.htm#:~:text=1%2C030%2C000%2C000%20(the%20%E2%80%9CConsideration%E2%80%9D)%2C-,which%20will%20be%20paid%20in%201%2C000%2C000%2C000%20newly%20issued%20ordinary%20shares%20of%20ESGL%20(the%20%E2%80%9CConsideration%20Shares%E2%80%9D)%20at%20a%20deemed%20issue%20price%20of%20%241.03%20per%20share,-1.%20In%20addition).
>This isn't a pre-revenue EV SPAC. This is real metal, real money, and real skin in the game.
The [prospectus shows that DT Group had revenues](https://www.sec.gov/Archives/edgar/data/1957538/000164117225012123/ex99-1.htm#sj_013:~:text=Comparison%20of%20the%20Years%20Ended%20December%2031%2C%202024%20and%202023) of $0 in 2023 and $0 in 2024. Seems pretty pre-revenue based on that. But it's not an EV.
**"Revenue**
 In the year ended December 31, 2023 (“**FY2023**”), DT Group dedicated its resources to the research and development of the P72 and P900 prototypes, and transitioned to the production phase of the prototypes in the year ended December 31, 2024 (“**FY2024**”). During such periods, delivery of the P72 and P900 vehicles have not yet commenced, and as a result, no revenue was recorded for the two years ended December 31, 2024. **DT Group expects to generate revenue in the year ending December 31, 2025 as it begins to deliver the first batch of P72 and P900 client vehicles to its customers.**"
Best of luck with it.

[Environmental Solutions Group Holdings Limited and Genesis Unicorn Capital Corp. Announce Closing of Business Combination](https://www.globenewswire.com/en/news-release/2023/08/03/2718037/0/en/Environmental-Solutions-Group-Holdings-Limited-and-Genesis-Unicorn-Capital-Corp-Announce-Closing-of-Business-Combination.html) \- GENQ -> ESGL GENQW -> ESGLW on August 4, 2023
ESGL is not a ***SPAC***, it is a ***deSPAC***, which is merging with a 3rd company.
This is important because there were [41,816,240 ordinary shares issued and outstanding as of April 16, 2025](https://www.sec.gov/Archives/edgar/data/1957538/000164117225006599/form20-f.htm#:~:text=41%2C816%2C240%20ordinary%20shares%20issued%20and%20outstanding%20as%20of%20April%2016%2C%202025) of ESGL stock. Zero of those shares will be redeemed in the merger vote. So it seems a low float run is unlikely.
Of course, ESGL will also be issuing **one billion new shares**, [valued at $1.03 each](https://www.sec.gov/Archives/edgar/data/1957538/000164117225012123/ex99-1.htm#:~:text=1%2C030%2C000%2C000%20(the%20%E2%80%9CConsideration%E2%80%9D)%2C-,which%20will%20be%20paid%20in%201%2C000%2C000%2C000%20newly%20issued%20ordinary%20shares%20of%20ESGL%20(the%20%E2%80%9CConsideration%20Shares%E2%80%9D)%20at%20a%20deemed%20issue%20price%20of%20%241.03%20per%20share,-1.%20In%20addition).
>This isn't a pre-revenue EV SPAC. This is real metal, real money, and real skin in the game.
The [prospectus shows that DT Group had revenues](https://www.sec.gov/Archives/edgar/data/1957538/000164117225012123/ex99-1.htm#sj_013:~:text=Comparison%20of%20the%20Years%20Ended%20December%2031%2C%202024%20and%202023) of $0 in 2023 and $0 in 2024. Seems pretty pre-revenue based on that. But it's not an EV.
**"Revenue**
 In the year ended December 31, 2023 (“**FY2023**”), DT Group dedicated its resources to the research and development of the P72 and P900 prototypes, and transitioned to the production phase of the prototypes in the year ended December 31, 2024 (“**FY2024**”). During such periods, delivery of the P72 and P900 vehicles have not yet commenced, and as a result, no revenue was recorded for the two years ended December 31, 2024. **DT Group expects to generate revenue in the year ending December 31, 2025 as it begins to deliver the first batch of P72 and P900 client vehicles to its customers.**"
Best of luck with it.