posted
Anyone know what is up with the GZFX move today. It's currently up 20%.
Posts: 1006 | From: Camp Hill, PA, USA | Registered: Mar 2004
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ITEM 6. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
The following discussion and analysis of financial condition and results of operations is based upon, and should be read in conjunction with, its audited financial statements and related notes included elsewhere in this Form 10-KSB, which have been prepared in accordance with accounting principles generally accepted in the United States.
Overview.
The Registrant, through its website www.gameznflix.com, is an on- line console video game rental business dedicated to providing customers a quality rental experience. The company offers customers a reliable, web-based, high-quality alternative to traditional store based gaming rentals on a national scale. The Registrant's service is an alternative to store based gaming rentals that offers a high level of customer service, quality titles, and superior product availability.
In March 2004, the Registrant launched its website, http://www.gameznflix.com, and began operating in the online DVD and video game rental industry. In conjunction with the website launch, the company also launched a national television ad campaign designed to create awareness among the Registrant's target consumers and to generate traffic to the website. In May 2004, the company is set to launch the second phase of the television ad campaign. This second phase is more narrowly designed to attract the core consumer to the product.
The Registrant believes that its planned growth and profitability will depend in large part on the ability to promote its services, gain clients and expand its relationship with current clients. Accordingly, the Registrant intends to focus its attentions and investment of resources in marketing, strategic partnerships, and development of its client base. If the Registrant is not successful in promoting its services and expanding its client base, this may have a material adverse effect on its financial condition and the ability to continue to operate the business.
The major assumptions relating to the revenue and membership growth are as follows: It is estimated that the company will grow at a rate of 3,000 new members per month beginning in April 2004 after the launch of www.gameznflix.com, which results in 24,000 members by year- end 2004. Based on a monthly subscription rate of $17.25 per member, this results in a projection of $400,000 of revenue by year-end 2004. As of September 30, 2004, the Company records reflect $153,395 of revenue, leaving $246,605 for the 4th Quarter of 2004.
The Registrant can satisfy its cash requirements for approximately six months from December 31, 2003 before it needs to raise additional funds.
(a) Revenues.
The Registrant reported $143,421 in gross income for the twelve months ended December 31, 2003, and $202,234 for the twelve-month period ended December 31, 2002. This represents an approximate 30% decrease for the twelve months period. The decreased revenue was due to the consulting services ending to various businesses. The cost of goods for the twelve months ended December 31, 2003 was $15,976 compared to the $99,451 for the same period ending December 31, 2002. This represents an approximate decrease of 600% for the twelve-month period. The decrease in the cost of goods sold was due to management deferring salaries and wages during the twelve-month period. This resulted in a twelve-month gross profit of $127,445 for the twelve period ended December 31, 2003, and $102,693 for the twelve-month period ended on December 31, 2002. This represents an approximate 124% increase in gross profit for the Registrant.
(b) Expenses.
Total expenses for the twelve months ended December 31, 2003 was $1,313,255, while the same expenses for the same period ended December 31, 2002 totalled $656,977. This represents an increase of approximately 200% for this period over the same period last year. For the twelve months ended December 31, 2003, selling, general and administrative expenses totalled $95,600, compared to $109,468 for the twelve months ended December 31, 2002. This reflects a decrease of approximately 14%. The decrease in these expenses is due primarily to the reduction in advertising and marketing services and interest on loans in the subsidiaries.
For the twelve months ended December 31, 2003, consulting fees totalled $889,793, compared to $57,385 for the twelve months ended December 31, 2002. This reflects in an increase of a 1550%. This increase in these expenses is due primarily to hiring of business consultants to develop the Registrant's business model for the launching of the DVD movie and video game on-line rental service.
The Registrant incurred professional fees expense charges of $165,521 in the twelve months ended December 31, 2003, compared with charges of $116,809 in the same period ended December 31, 2002. This represents an increase of 142% for this period over the same period last year. The increase in these expenses is due to legal and accounting fees of the acquisition of Veegeez.com, LLC, and on going fees required of the Registrant being a fully reporting on the Over the Counter Bulletin Board.
(c) Depreciation and Amortization.
Depreciation and amortization for the year ended December 31, 2003 was $33,016 compared to zero for the fiscal year ended December 31, 2002. The increase was due to an overall increase in depreciable fixed assets of approximately $64,000 as result of purchases made during 2003.
(d) Interest Expense.
The Registrant incurred interest expense of $21,161 during the fiscal year ended December 31, 2003, compared with $362,848 in the fiscal year ended December 31, 2002, a decrease of approximately 94%. The decrease was primarily due to an overall reduction of interest bearing related liabilities by approximately $1,044,000. This reduction was primarily a result of $963,000 in debt extinguishments during 2003.
(e) Extinguishment of Debt.
In January 2003, note holders forgave the Registrant's debts and interest accrued in the amount of $268,132.
In May 2003, the Registrant ceased operation of Prima International, LLC, one of its wholly owned subsidiaries. The loan payable to Prima of $6,300 was forgiven and the Registrant recognized a gain from forgiveness of debt of $6,300.
In December 2003, management determined that accrued payables in the amount of $688,188, relating to activities prior to Syconet's merger with the Registrant, are of questionable validity. No demands have been made of current management or the prior management group, and the Registrant's records do not provide sufficient information to confirm any amounts due. The amount has been credited to gain on extinguishment of debt in the current year.
(f) Net Profit.
The Registrant reported a net operating loss of $1,206,969 for the twelve months ended December 31, 2003. This is compared to a net operating loss of $916,616 for the same period ended December 31, 2002, which was due primarily to the increased use of outside business consultants. The Registrant reported a net loss of $228,270 for the period ending December 31, 2003. This is compared to the net loss of $885,163 for same period ended December 31, 2002, the decrease is due to the recovery from extinguishment of debt from the prior entity known as Syconet.com.
(g) Income Tax Benefit.
At December 31, 2003, the Registrant has net operating loss carryforwards totalling approximately $8,700,000, which may provide future tax benefits. The carryforwards begin to expire in fiscal year 2017. Because of ownership changes nearly all of this net operating loss carry forward may be limited for use by the Registrant by Internal Revenue Code Section 381. The Registrant has not recognized any of this limited tax benefit as an asset due to the uncertainty of future income.
Factors That May Affect Operating Results.
The operating results of the Registrant can vary significantly depending upon a number of factors, many of which are outside its control. General factors that may affect the Registrant's operating results include:
- market acceptance of and changes in demand for products and services;
- a small number of customers account for, and may in future periods account for, substantial portions of the Registrant's revenue, and revenue could decline because of delays of customer orders or the failure to retain customers;
- gain or loss of clients or strategic relationships;
- announcement or introduction of new services and products by the Registrant or by its competitors;
- price competition;
- the ability to upgrade and develop systems and infrastructure to accommodate growth;
- the ability to introduce and market products and services in accordance with market demand;
- changes in governmental regulation; and
- reduction in or delay of capital spending by clients due to the effects of terrorism, war and political instability.
The Registrant believes that its planned growth and profitability will depend in large part on the ability to promote its services, gain clients and expand its relationship with current clients. Accordingly, the Registrant intends to invest in marketing, strategic partnerships, and development of its customer base. If the Registrant is not successful in promoting its services and expanding its customer base, this may have a material adverse effect on its financial condition and its ability to continue to operate its business.
The Registrant is also subject to the following specific factors that may affect its operating results:
(a) Competition.
The market for on-line rental of DVD's and games is competitive and the Registrant expects competition to continue to increase. In addition, the companies with whom the Registrant has relationships could develop products or services, which compete with the Registrant's products or services. Also, some competitors in the Registrant's market have longer operating histories, significantly greater financial, technical, marketing and other resources, and greater brand recognition than the Registrant does. The Registrant also expects to face additional competition as other established and emerging companies enter the market for on-line rentals. To be competitive, the Registrant believes that it must, among other things, invest resources in developing new products, improving its current products and maintaining customer satisfaction. Such investment will increase the Registrant's expenses and affect its profitability. In addition, if it fails to make this investment, the Registrant may not be able to compete successfully with its competitors, which could have a material adverse effect on its revenue and future profitability.
(b) Technological and Market Changes.
The markets in which the Registrant competes are characterized by new service introductions, evolving industry standards, and changing needs of customers. There can be no assurance that the Registrant's existing services will continue to be properly positioned in the market or that it will be able to introduce new or enhanced products into the market on a timely basis, or at all. Currently, the Registrant is focusing on upgrading and introducing new services. There can be no assurance that enhancements to existing services or new services will receive customer acceptance.
(c) Ability to Attract and Retain Subscribers.
The Registrant must continue to attract and retain subscribers. To succeed, the company must continue to attract subscribers who have traditionally used video and game retailers, video and game rental outlets, cable channels, such as HBO and Showtime and pay-per-view. The Registrant's ability to attract and retain subscribers will depend in part on its ability to consistently provide its subscribers a high quality experience for selecting, viewing or playing, receiving and returning titles. If consumers do not perceive the service offering to be of quality, or if the company introduces new services that are not favorably received by them, the company may not be able to attract or retain subscribers. If the efforts to satisfy its existing subscribers are not successful, the Registrant may not be able to attract new subscribers, and as a result, revenues will be affected adversely.
The Registrant must minimize the rate of loss of existing subscribers while adding new subscribers. Subscribers cancel their subscription to the company's service for many reasons, including a perception that they do not use the service sufficiently, delivery takes too long, the service is a poor value and customer service issues are not satisfactorily resolved. The Registrant must continually add new subscribers both to replace subscribers who cancel and to grow the business beyond the current subscriber base. If too many of subscribers cancel the company's service, or if the company is unable to attract new subscribers in numbers sufficient to grow the business, operating results will be adversely affected. Further, if excessive numbers of subscribers cancel the service, the Registrant may be required to incur significantly higher marketing expenditures than currently anticipated to replace these subscribers with new subscribers.
Subscribers to the service can view as many titles and/or play games as they want every month and, depending on the service plan, may have out between three and eight titles at a time. With the Registrant's use of two shipping centers and the associated software and procedural upgrades, the company has reduced the transit time of DVD's and games. As a result, the company's subscribers have been able to exchange more titles each month, which has increased operating costs. As the company established additional planned shipping centers or further refines its distribution process, the company may see a continued increase in usage by subscribers. If subscriber retention does not increase or our operating margins do not improve to an extent necessary to offset the effect of increased operating costs, operating results will be adversely affected.
Subscriber demand for titles may increase for a variety of other reasons beyond the Registrant's control, including promotion by studios and seasonal variations in movie watching. Subscriber growth and retention may be affected adversely if the company attempts to increase monthly subscription fees to offset any increased costs of acquiring or delivering titles and games.
The Registrant may not be able to continue to support the marketing of its service by current means if such activities are no longer available or are adverse to its business. In addition, the company may be foreclosed from certain channels due to competitive reasons. If companies that currently promote the Registrant's service decide to enter its business or a similar business, the Registrant may no longer be given access to such channels. If the available marketing channels are curtailed, the ability to attract new subscribers may be affected adversely.
The GameZnFlix brand is young, and the company must continue to build strong brand identity. To succeed, the company must continue to attract and retain a number of owners of DVD and video game players who have traditionally relied on store-based rental outlets and persuade them to subscribe to its service through its website. The Registrant may be required to incur significantly higher advertising and promotional expenditures than currently anticipated to attract numbers of new subscribers. The Registrant believes that the importance of brand loyalty will increase with a proliferation of DVD and game subscription services and other means of distributing titles. If the company's efforts to promote and maintain its brand are not successful, its operating results and ability to attract and retain subscribers will be affected adversely.
(d) Selection of Certain Titles.
Certain titles cost the Registrant more to acquire depending on the source from whom they are acquired and the terms on which they are acquired. If subscribers select these titles more often on a proportional basis compared to all titles selected, DVD or game acquisition expenses could increase, and gross margins could be adversely affected.
(e) Acquisition Sources.
The Registrant utilizes a mix of incentive-based and fixed-cost marketing programs to promote its service to potential new subscribers. The company obtains a portion of its new subscribers through online marketing efforts, including third party banner ads, direct links and an active affiliate program. While the company opportunistically adjusts its mix of incentive-based and fixed-cost marketing programs, it attempts to manage the marketing expenses to come within a prescribed range of acquisition cost per subscriber. To date, the Registrant has been able to manage its acquisition cost per subscriber; however, if the company is unable to maintain or replace sources of subscribers with similarly effective sources, or if the cost of existing sources increases, subscriber levels may be affected adversely and the cost of marketing may increase.
(f) Potential Delivery Issues.
The Registrant relies exclusively on the U.S. Postal Service to deliver DVD's and games from its shipping centers and to return DVD's and games from subscribers. The company is subject to risks associated with using the public mail system to meet its shipping needs, including delays caused by bioterrorism, potential labor activism and inclement weather. The Registrant's DVD's and games are also subject to risks of breakage during delivery and handling by the U.S. Postal Service. The risk of breakage is also impacted by the materials and methods used to replicate DVD's and games. If the entities replicating DVD's and games use materials and methods more likely to break during delivery and handling or the company fails to timely deliver DVD's and games to subscribers, subscribers could become dissatisfied and cancel the service, which could adversely affect our operating results. In addition, increased breakage rates for our DVD's and games will increase our cost of acquiring titles.
(g) Key Personnel.
The Registrant's success is largely dependent on the personal efforts and abilities of its senior management. The loss of certain members of the Registrant's senior management, including the company's chief executive officer, chief financial officer and chief technical officer, could have a material adverse effect on the company's business and prospects.
The Registrant intends to recruit in fiscal year 2004 employees who are skilled in its industry. The failure to recruit these key personnel could have a material adverse effect on the Registrant's business. As a result, the Registrant may experience increased compensation costs that may not be offset through either improved productivity or higher revenue. There can be no assurances that the Registrant will be successful in retaining existing personnel or in attracting and recruiting experienced qualified personnel.
Liquidity and Capital Resources.
The Registrant currently has total current assets of $128,348 and total current liabilities of $849,143 resulting in net working capital deficit of $720,795. The Registrant will require significant additional working capital to continue as a going concern.
Since inception, the Company has financed its activities through various private placements. During the fourth quarter of the fiscal year ended December 31, 2003, the Registrant sold a total of 7,007,595 restricted shares of common stock to four investors for a total consideration of $92,500. In addition, the Registrant has sold an additional 10,469,470 restricted shares of common stock to date in 2004, raising an additional $307,962 in capital.
The Company's DVD and video game rental operations were launched in March 2004 and fully commenced during the third quarter of 2004. As a result, the Company has begun generating sufficient cash to fund its operations. In an effort to provide its customers with a wider library of DVD's and video games, the Company believes it will need to increase its library within the next twelve months and thereafter on an annual basis. Additionally, the Company will continue to provide strategic marketing of its DVD and video game rentals to targeted markets.
Although the Company currently anticipates an increase in cash flows from operations, it will still need to raise approximately $5,000,000 within the next twelve months and $2,000,000 each year thereafter. Such financing may be through the issuance of equity, debt, or a combination thereof. However, adequate funds may not be available when needed or may not be available on terms favorable to the Registrant. The ability of the Registrant to continue as a going concern is dependent on additional sources of capital and the success of the Registrant's business plan. The Registrant's independent accountants audit reports included in this Form 10-KSB includes a substantial doubt paragraph regarding the Registrant's ability to continue as a going concern.
If funding is insufficient at any time in the future, the Registrant may not be able to take advantage of business opportunities or respond to competitive pressures, or may be required to reduce the scope of its planned product development and marketing efforts, any of which could have a negative impact on its business and operating results. In addition, insufficient funding may have a material adverse effect on the company's financial condition, which could require the company to:
- curtail operations significantly;
- sell significant assets;
- seek arrangements with strategic partners or other parties that may require the company to relinquish significant rights to products, technologies or markets; or
- explore other strategic alternatives including a merger or sale of the company.
To the extent that the Registrant raises additional capital through the sale of equity or convertible debt securities, the issuance of such securities will result in dilution to existing stockholders. If additional funds are raised through the issuance of debt securities, these securities may have rights, preferences and privileges senior to holders of common stock and the terms of such debt could impose restrictions on the Registrant's operations. Regardless of whether the Registrant's cash assets prove to be inadequate to meet the company's operational needs, the Registrant may seek to compensate providers of services by issuance of stock in lieu of cash, which will also result in dilution to existing shareholders.
Inflation.
The Registrant's management does not believe that inflation has had or is likely to have any significant impact on the Registrant's operations.
Other.
The Registrant does not provide post-retirement or post- employment benefits requiring charges under Statements of Financial Accounting Standards No. 106 and No. 112.
Critical Accounting Policies.
The Securities and Exchange Commission ("SEC") has issued Financial Reporting Release No. 60, "Cautionary Advice Regarding Disclosure About Critical Accounting Policies" ("FRR 60"), suggesting companies provide additional disclosure and commentary on their most critical accounting policies. In FRR 60, the SEC has defined the most critical accounting policies as the ones that are most important to the portrayal of a company's financial condition and operating results, and require management to make its most difficult and subjective judgments, often as a result of the need to make estimates of matters that are inherently uncertain. Based on this definition, the Registrant's most critical accounting policies include: (a) use of estimates in the preparation of financial statements; (b) non-cash compensation valuation; and (c) revenue recognition. The methods, estimates and judgments the Registrant uses in applying these most critical accounting policies have a significant impact on the results the Registrant reports in its financial statements.
(a) Use of Estimates in the Preparation of Financial Statements.
The preparation of these financial statements requires the Registrant to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an on-going basis, the Registrant evaluates these estimates, including those related to revenue recognition and concentration of credit risk. The Registrant bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.
(b) Stock-Based Compensation Arrangements.
The Registrant intends to issue shares of common stock to various individuals and entities for management, legal, consulting and marketing services. These issuances will be valued at the fair market value of the services provided and the number of shares issued is determined, based upon the open market closing price of common stock as of the date of each respective transaction. These transactions will be reflected as a component of selling, general and administrative expenses in the Registrant's statement of operations.
(c) Revenue Recognition.
Consulting revenue is recognized when the services are rendered. Video game subscription revenues are recognized when billed. Company customers are required to authorize a monthly automatic charge to a major credit card. Because of this, the billing and receipt of revenue occur simultaneously. Subscribers pay on a monthly basis and may cancel service at anytime. The cost of services, consisting of staff payroll, outside services, equipment rental, communication costs and supplies, is expensed as incurred.
Forward Looking Statements.
The foregoing management's discussion and analysis of financial condition and results of operations contains "forward looking statements" within the meaning of Rule 175 of the Securities Act of 1933, as amended, and Rule 3b-6 of the Securities Act of 1934, as amended. The words "believe," "expect," "anticipate," "intends," "forecast," "project," and similar expressions identify forward-looking statements. These are statements that relate to future periods and include, but are not limited to, statements as to the Registrant's estimates as to the adequacy of its capital resources, its need and ability to obtain additional financing, the features and benefits of its products, its growth strategy, the need for additional sales and support staff, its operating losses and negative cash flow, its critical accounting policies, its profitability and factors contributing to its future growth and profitability. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, those discussed above, as well as risks related to the Registrant's ability to develop and introduce new products and its ability to find additional financing. These forward-looking statements speak only as of the date hereof. The Registrant expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
Posts: 922 | Registered: Jun 2004
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FXEN FX ENERGY INC Q Y GADZQ GADZOOKS INC u Y GALB GALTON BIOMETRICS INC NEW. u Y GBRIF GOLDEN BAND RESOURCES INC (F) u Y GCHC GREATER CHINA CORP u Y GENI GENESISINTERMEDIA INC u Y GENM GRAND ENTERTMT & MUSIC INC u Y GIVN GIVEN IMAGING LTD Q Y GKNLY GKN PLC SPONS ADR u Y GLBC GLOBAL CROSSING LTD NEW (BERMU Q Y GLBE GLOBAL ESCIENCE CORP u Y GLBT GLOBALNET CORPORATION U Y GLNC GLOBAL NATIONAL COMMUNICATIONS U Y GMDP GLOBAL MEDICAL PRODUCTS HLGS I u Y GMGX GALACTIC GAMING INC u Y GNBT GENEREX BIOTECHNOLOGY CORP S Y GOAM GO AMERICA INC NEW S Y GORX GEOPHARMA INC S Y GSREF GASTAR EXPLORATION LTD u Y GTEL GLOBETEL COMMUNICATIONS CORP U Y GTKN GAME TECHNOLOGIES INC u Y GTTLQ GT GROUP TELECOM INC CL B u Y GUCG GUCCI GRP NV(COM2.23 DTCH GLDS u Y GVIS GVI SECURITIES SOLUTIONS INC U Y GWLG GROWTHLOGIC INC u Y HACBY HACHIJUNI BANK ADR
Posts: 193 | Registered: Dec 2004
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posted
I think the rise occured from MM's covering Naked shorting of gzfx as it looks like it is all now caught up.
Posts: 193 | Registered: Dec 2004
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posted
I didn't know if people were stocking up in anticipation of the super bowl commercial
Posts: 1006 | From: Camp Hill, PA, USA | Registered: Mar 2004
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posted
I think it is because of the up coming superbowl ad. We should see over .05 pps within a few weeks. Following the superbowl ad a drop but steady at 10 then up on good news shortly after. IMO GO GZFX!!!!!!!!
Posts: 2201 | From: Tampa | Registered: Nov 2004
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posted
While the jump in pps has been appreciated by myself and others I don't think we will see that big a jump in price due to the Super Bowl ad. Since the ad is not national I don't put much weight or buzz on it. Lettermen just did a whole Top 10 list centered around QBID and there was little movement of PPS there.
Posts: 119 | From: Attleboro,MA USA | Registered: Nov 2004
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quote:Originally posted by djequipment: While the jump in pps has been appreciated by myself and others I don't think we will see that big a jump in price due to the Super Bowl ad. Since the ad is not national I don't put much weight or buzz on it. Lettermen just did a whole Top 10 list centered around QBID and there was little movement of PPS there.
All I know is I rode this up from $.098 to $.17 and then back down to $.013 and finally had enough and sold it 3 days ago. And now the stupid bugger is back up to $.02, damn stupid GZFX.
Posts: 204 | Registered: Jan 2005
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posted
We are kind of in the same boat. I'm holding the bag from .086 at this point.
Posts: 119 | From: Attleboro,MA USA | Registered: Nov 2004
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posted
Hate to burst some of your bubbles but GZFX has pulled their Super Bowl ad. Article below says it all...fourth paragraph talks about GZFX. Hope this doesnt ruin your day. Super Bowl Ad articlePosts: 2 | Registered: Jan 2005
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quote:Originally posted by DiakosUCF: Hate to burst some of your bubbles but GZFX has pulled their Super Bowl ad. Article below says it all...fourth paragraph talks about GZFX. Hope this doesnt ruin your day. Super Bowl Ad article
Actually, I think everyone here already knew this. This article is saying that they pulled their national ad which djequipment already mentioned earlier and they are going to advertise during the superbowl in selected local markets. Personally I don't think it is a bad move considering what the cost of a national commercial during the superbowl is and what you actually get out of it.
Posts: 1006 | From: Camp Hill, PA, USA | Registered: Mar 2004
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posted
I agree Leardon, with so many good ads shown during the Super Bowl you pretty much have to be in the cream of the crop to get remembered.
Plus people are watching the game not sitting on the internet, I think they would get much more mileage out of regular ads during cable shows. I know I usually watch TV while sitting with my laptop, and if I see something that catches my eye I check it out online. People aren't doing that during the Super Bowl because they are either watching the game or at a party.
I'm sure we will get some buzz out of the local ads though. I'm just thinking about bailing while we are on this uptrend and put my money into something that is sub-penny or something near it's 52 week low that might rebound quicker.
BTOR, GBUR, MDGN or XRYM perhaps.
Posts: 119 | From: Attleboro,MA USA | Registered: Nov 2004
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posted
Ad or not gzfx is still the best deal around. I have tried them all. Blockbusters new thing is a F-job. U have the movie for a week and they call and say if u don't return it they are going to charge u for the whole movie. It's a joke. IMO GZFX is going to make it. Sure they are slow right now, but the consumer doesn't know this and will sign up and stay with it long enough for gzfx to get everything together.
Posts: 2201 | From: Tampa | Registered: Nov 2004
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Their cash position is up, total liabilities down, and total assets are up. As for the superbowl commercial, it's a great thing that they won't be spending all that money on it.
Posts: 177 | From: Boston | Registered: Mar 2004
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posted
I have seen GZFX commercials two weeks in a row now during the playoffs. Maybe that is giving it a boost too. Saw it this week during the beginning of the philly vs. Minnesota game.
Posts: 1006 | From: Camp Hill, PA, USA | Registered: Mar 2004
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posted
saw the commercials three times this weekend during the playoffs, not a great ad but I think it was viewed by a huge audience, should see a pr about the success of the ads in the near future.
-------------------- am I part of the cure, or am I part of the disease... Posts: 696 | From: Amish Country, PA, USA | Registered: Feb 2004
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posted
That is GREAT news that they are running commercials in the local markets during the Playoffs.
I watched all of both AFC games and about half of each NFC game and didn't see any commercials in the Boston markets. But as long as they are targeting their audience!!
GO PATS!!
Posts: 119 | From: Attleboro,MA USA | Registered: Nov 2004
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posted
someone thinks this may hit .10 + after the superbowl and someone said maybe couls hit .25 + by end of the year does anyone think thats possible? because i have $400 i would like to invest in it and i was just wondering
-------------------- Derek S Posts: 2270 | From: andalusia, IL, USA | Registered: May 2004
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Entry Material Agreement, Financial Statements and Exhibits
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On November 11, 2004, the Registrant entered into a Securities Purchase Agreement with Golden Gate Investors, Inc. (see Exhibit 4.1). Under this agreement, Golden Gate agreed to purchase from the Registrant a convertible debenture in the aggregate principal amount of $1,500,000. In conjunction with the debenture, the Registrant also issued to Golden Gate a warrant, dated November 11, 2004, to purchase 15,000,000 shares of common stock of the company, exercisable at $1.00 per share (see Exhibit 4.2). In connection with this agreement, the Registrant also granted certain rights under a registration rights agreement, dated November 11, 2004, to the shares to be issued upon conversion of the debenture and the warrant (see Exhibit 4.3).
On November 17, 2004, the Registrant and Golden Gate entered into an Addendum to Convertible Debenture and Securities Purchase Agreement (see Exhibit 4.4). Under this Addendum, certain payment terms were changed.
On December 17, 1005, the Registrant and Golden Gate entered into another Addendum to Convertible Debenture and Securities Purchase Agreement (see Exhibit 4.5). Under this Addendum, certain payment terms were further changed.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
Exhibits.
Exhibits included are set forth in the Exhibit Index pursuant to Item 601of Regulation S-B.
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