Genesis Financial, Inc. (OTCPK:GFNL) entered into a share and business sale agreement to acquire The Financial Link Group Pty Ltd, Interactive Mortgage and Finance Pty Ltd and CCS Operations Pty Ltd. from Beacon Financial Group Pty Ltd for AUD 15.5 million on October 14, 2019. The consideration comprises cash of AUD 5 million and AUD 10.5 million shares of Genesis Financial, Inc. As per terms, Genesis Financial, Inc. has already paid AUD 0.1 million, will pay AUD 0.9 million in cash before closing and balance in cash and stock from 2020 to 2022 subject to the target companies recording at least AUD 3 million revenues per fiscal year. The deal is subject to approval from Australian governmental and regulatory authorities. Genesis Financial, Inc. (OTCPK:GFNL) completed the acquisition of The Financial Link Group Pty Ltd, Interactive Mortgage and Finance Pty Ltd and CCS Operations Pty Ltd. from Beacon Financial Group Pty Ltd on June 30, 2020. Beacon Group Companies were renamed The Financial Link Group. The acquisition was funded by Genesis's capital raise of $1 million through the private sales of convertible notes and equity and by the issuance of Genesis common stock to the stakeholders of TFLG.