Generation Zero Group Inc. (fka GNZR)

[Potse]

georgia34...GNZR financing.....

"No link. Can only go by the letter that I received as a Scientigo note holder who signed away find.com to Generation Zero in exchange for a re-structured Generation Zero note. Got paid a sliver of principal before the closing, but have not received a second payment as promised, (was supposed to occur thirty days after find.com closing).

I was told by a member of the advisory board for Gen Zero, that the company had not raised sufficient capital in order to make the second principal payment, (this amount totals $250,000).

My concern is that by not making this payment on time, it suggests that the company is hurting for capital. The money certainly will not come from beach.org ad profits. Hopefully, they will find some suckers pretty soon, and get me paid."

I sold my position in GNZR awhile back when I started becoming extremely uncomfortable with some of the business/financial decisions that GNZR management was making (in particular, the handling of the convertible debt -- see posts below).

I think in one of my previous posts on this board I mentioned the only reason(s) I could envision for Matthew Krieg's interest in maintaining such dilutive debt was if the debt holders had some assets that would be transferred to GNZR at an extremely attractive price, or if the debt holders would be providing financing at attractive terms.

One of GNZR's debt holders is facing SEC fraud charges on another stock/investment, so I think it is now highly unlikely that anything "positive" will result from that convertible debt. IMO, the combination of the fully-diluted share count and the legal issues surrounding one of the debt holders is probably going to make it very difficult for GNZR to raise a significant amount of money at reasonably attractive terms from outside/independent investors and institutions.

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