Generation Zero Group Inc. (fka GNZR)

[e-ore]

GNZR - Very interesting filing today. Ridiculous spread .0436 x .90 (lol), worth a shot if you can get some at the bid, imo. Lots of positives including:

· Over 7 million visitors to Find.com® in the first quarter of 2014;
· Over 50 unique articles created exclusively for Find.com®;
· Over 3,400 likes on Facebook;
· Over 5,000 pins and 600 followers on Pinterest;
· Over 1.7 Million views and more than 2,600 members in our Google Plus communities; and
· April 2014 marked the first month in which Find.com®’s revenues exceeded its expenses.

Debt is in default, debtholders willing to wait (a positive development, imo). Examples:
"All past defaults under the Note shall be waived by Trust, but the amount of principal and accrued interest up through January 13, 2014 shall not be forgiven."

"The parties agree as follows:
1. Existence of Default under GZ Notes. Generation Zero acknowledges and agrees that, but for this Agreement, (i) the GZ Notes are in default and that an Event of Default under the GZ Notes has occurred, (ii) the full unpaid principal of the GZ Notes is due and payable, and (iii) the 60 day period referenced in Section 6.11 of the operating agreement of URL Holding has passed, entitling the Directors of URL Holding to cancel Generation Zero’s shares in URL Holding, issue shares to Collateral Agent and participate in a consensual foreclosure.

2. Confirmation of Outstanding Amount. The parties agree that, as of January 1, 2014, $2,920,250 of principal is owed on the GZ Notes and zero interest has accrued or is owed on the GZ Notes (interest was suspended and accrued interest cancelled in the First Addendum). The GZ Notes are accordingly amended.

3. Agreement to Forbear. The Collateral Agent will forbear in the exercise of its rights and remedies under the GZ Notes, Security Agreements, the operating agreement of URL Holding and applicable law during the Forbearance Period (as described below), unless a Forbearance Default occurs during such period"

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10029159