its ownership stake in GenesisIntermedia.com to 22 percent, and now owns nearly 1.4 million common shares of the Internet marketing and retail company.

Back in May, Ultimate reported holding a 7.74 percent stake, backed by approximately 0.4 million shares.

Holdings of the company were increased through a series of open market purchases as well as the exercise of a warrant on August 7 for 700,000 shares at $7 each, according to an amended Schedule 13D filing.

In a separate regulatory filing, GenesisIntermedia said it entered into notes payable agreements with Ultimate on April 28 and June 16, whereby the company borrowed up to $6 million and $10 million, respectively, in exchange for secured promissory notes.

In trading on Monday, shares of GenesisIntermedia, of Van Nuys, California, rose 75 cents to $16.