Generation Zero Group Inc. (fka GNZR)

[RonnieD]

consider.. this deal was prior to the merger.. Capersia's 1 million shares are now 10,000 shares.. this note was from the days when Frank didn't want to pay the money on the note. Now that the co is different and they have already paid 175k to own it, let's say Krieg et al. have the money to pay the note.. Cascata and Seven Palms would have to demand repayment of the note before they could convert. As it was, Capersia had a year and a day prior to conversion to alert the company (under its former owner).. looking at the wording I think it's possible that the noteholders must demand repayment in cash of the note before they can resort to share conversion.

http://www.sec.gov/Archives/edgar/data/1390072/000143209310000225/generation10k123109.htm