Velocity Oil & Gas Moves to Atlanta as Generation Zero, Begins Trading Under New Stock Symbol - CBL
By Citybizlist Staff
ATLANTA -- Generation Zero Group Inc. (OTC BB: GNZR) said it has secured approvals to change its share structure and received a new stock symbol effective today, March 8, according to an 8-K filing with the U.S. Securities and Exchange Commission.
The Atlanta-based company previously was based in Houston and called Velocity Oil & Gas Inc., a junior oil and gas company focused on acquiring, developing and producing oil and gas in the southern United States. The company has 126,205 shares outstanding, following a 1-for-100 reverse stock split. The company has an authorized share capital of 100 million shares of common stock and 10 million preferred shares, each of $0.001 per share.
Generation Zero, whose new name was approved by the state of Nevada last month, is controlled by Travel Engine Solutions LLC, whose majority owner is Matthew Krieg, a travel and e-commerce consultant.
Krieg, who serves as CEO of Generation Zero, previously was associated with Atlanta-based companies nPorta Inc. and OneTravel Inc., Las Vegas-based Leisure Industries and Miami-based Eastern Airlines.
Also, Generation Zero said it no longer would be governed by Sections 78.411 to 78.444 of the Nevada Revised Statutes.
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