That's correct, Dutch, Flux Carbon Fund owns 80% of BTZO, and BTZO itself owns 80% of GERS.
What Kreisler did, he structured 2 companies he owned or controlled so the company with significant revenue, but with a huge debt load, Greenshift, would be subordinated to the one with insignificant revenues, Bitzio, which he controlled thru debt.
During the "acquisition", BTZO borrowed $2,900,000 as a "credit line". Most of the money went to GERS main lender.
Any revenue by either BTZO or GERS go to a "lockbox" account, and then TCA Global decides how much of the money BTZO or GERS needs to operate its business.
It is impossible to tell how badly BTZO or GERS are faring, since they bot ceased to file quarterly financials.
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In a completely separate no-cash transaction, Flux Carbon Fund (Kreisler) acquired 60% of Pervasip while giving Pervasip 60% ownership of Grow Big Supply, a Denver hydroponics store, while borrowing $600K from TCA Global.
That deal didn't went well. Within 9 months GBS suddenly closed its doors, and TCA Global sued PVSP to recover the loan. Flux Carbon Fund apparently divested themselves of PVSP ownership by cancelling their preferred shares.
Currently Pervasip has no ongoing business, and is not filing financials anymore.
