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ok hello guys. i came across this company, seems like it has some potential to be great in a few years, once it gets its name out a little better. it is up over 15% today. any thoughts? please post.
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1) NPWV (the old trading symbol) did a 100 for 1 reverse stock split right before the aquisition to get rid of the old shares.
2) NPWV purchased greenzap for 75,000,000 newly issued shares.
This would lead me to believe that the greenzap board owned most if not all of the outstanding shares... and it was an extremely thinly held stock.
Since then someone has spent $110,000 to pump up the stock - now what normally happens in pump and dumps is that the stock is bought cheaply then pumped up - but the stock has done nothing but drop in price... So who would spend that much cold cash to pump the stock with pr postings, fax blasts and all sorts of other stuff. (See the disclaimer at the bottom: http://investors.com/breakingnews.asp?journalid=32180789)
1) They give away enough credit to new members to fund 25 transactions. 2) They do not accept credit cards for transactions 3) Ebay has banned listing greenzap in any auction. 4) I can't find any stores that actually accept greenzap as a payment method.
How exactly are they going to generate any revenue as a payment processor if no store, site or auction lists them? Especially if the first 25 transactions are free and they don't take credit cards?
I just keep circling back the the 75 million shares the founders were given...
Add to that - they recently offered some sort of placement for memebers that have spent $100 to upgrade:
********************************************************* GreenZap, Inc. ("GreenZap") is offering to its Gold Members the opportunity to purchase 10% Series B Convertible Debentures. These Debentures provide that investors will receive the return of their investment one year after the investment date with interest at the rate of ten-percent. Rather than repaying the Debentures (investment) in cash, GreenZap will be converting the principal and interest into a number of shares of GreenZap's common stock (Pink Sheet Symbol “GZPN”) at a conversion price equal to 50% of the five-day average trading price of the stock prior to the maturity date of the Debenture. For example if the investor purchased $100,000 of Debentures and GreenZap's common stock traded at an average price of $1.00 for the five days before its conversion, the Debenture would be converted into and the investor would receive, 220,000 shares of GreenZap's common stock, giving the investor an effective return of 120% of their original investment.
TIME FRAME & INVESTMENT CAP The offer will become available for execution at 9am PST on Monday, January 23, 2006. The offer is limited to a total investment of 2 million dollars. Once total investment amount is reached, the offer will be closed.
MINIMUM INVESTMENT AMOUNT The minimum amount required to invest is $1,000 U.S.
PAYMENT OPTIONS Investor can pay via direct bank debit (ACH), or via mail in check.
GreenZap will allow investor to pay the investment over a 10 month term if the total investment amount is at least $5,000. For Example, if the member wishes to invest a total of $10,000, he/she has the option of paying 10 equal monthly payments of $1,000.
GreenZap reserves the option to stop accepting payments for investment at anytime. For example, if a $10,000 investment is selected, and investor had successfully made 6 payments of $1,000 (totaling $6,000), and the company elected to stop accepting any further payments, then investor would receive debentures for the $6,000 purchased to date.
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GreenZap Concludes $2 Million Round of Financing Wednesday February 1, 9:30 am ET
SAN DIEGO--(BUSINESS WIRE)--Feb. 1, 2006--GreenZap, Inc. (Pink Sheets:GZPN - News), a provider of secure online payment services, announced today that it had received commitments for the maximum amount of its second-round of financing at $2 million. GreenZap made the offer available to a select group of its members, enabling the company to close the offering in just nine days. ADVERTISEMENT
"We are thrilled with the response we received from our users. Unfortunately, due to the $2 million funding limit of this offering, we were unable to allow more of our users to participate," said GreenZap CEO Damon Westmoreland. "The monies raised will help us build the company and meet our strategic growth plan for the upcoming year," continued Westmoreland. The plan for 2006 includes full-scope credit card processing, a 24 hour customer service call center and a customized transaction switch to deliver rapid transactions.
The company reported earlier this month that it retained a financial auditing company and expects to commence reporting obligations by the end of first quarter 2006. Once complete, the company hopes to commence quotation on the OTCBB.
About GreenZap, Inc.
GreenZap Inc, a San Diego, Calif.-based company, enables any business or individual with an email address to send and receive money securely and cost-effectively online. GreenZap is building its network on the existing infrastructure of bank accounts and credit cards to create a global payment system. GreenZap's system resembles PayPal® (eBay's payment processor), except that it charges a flat fee versus a percentage of each transaction, and rewards its members for using GreenZap's services. WebCash, GreenZap's rewards dollar, is an electronic currency that can be exchanged for cash when shopping with specified merchants. Since opening June 1, 2005, GreenZap has grown to over 600,000 users.
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