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Generation Zero Group, Inc. (the "Company") (OTC Bulletin Board: GNZR) today announced that it has closed on the previously announced acquisition of the domain www.Find.com.

About Generation Zero Group, Inc.:

Generation Zero Group, Inc. (www.generationzerogroup.com) Based in Atlanta, Georgia, Generation Zero Group, Inc. is focused on having controlling or significant ownership interests in Premium Domain names, next-generation Technologies and Businesses with strong growth potential. The Company intends to use its expertise in Internet marketing, search engine optimization, and cutting edge technology to build and expand its business interests in their respective markets.

This press release may contain forward-looking statements, including information about management's view of the Company's future expectations, plans and prospects, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act, and are subject to the safe harbor created by the Act. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of the Company, and concepts to be materially different than those expressed or implied in such statements. These risk factors and others are included from time to time in documents the Company files with the Securities and Exchange Commission, including but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on the Company's future results. The forward-looking statements included in this press release are made only as of the date hereof. The Company cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, the Company undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by the Company.

Company & Investor Relations Contact:

William Goldstein
post #2 of 3
Thread Starter 

Charlotte-Based Scientigo Forgoes Option to Buy 40% Stake in URL Holdings - cbl

By citybizlist Staff

CHARLOTTE -- Generation Zero Group Inc. (OTCBB: GNZR), an Atlanta-based Internet marketing company, has entered into an agreement to buy nearly all of Find.com URL Holdings LLC for $3.19 million in cash and notes plus shares worth $13.5 million, most of which will go to Scientigo Inc. (OTC: SCNG) for foregoing its option to buy a 40 percent stake in URL Holdings, according to an SEC filing.

The value of the shares is based on Generation Zero's trading price this morning of about 90 cents.

Generation Zero agreed to issue $3.07 million in notes and 1 million shares to URL Holdings, which owns the domain name Find.com. Generation Zero also agreed to pay Charlotte, N.C.-headquartered Scientigo, a developer of search technology, $120,000 in cash and issue 14 million restricted shares.

Generation Zero agreed to issue an additional $1 million worth of shares to Scientigo if Generation Zero ends up selling the 40 percent stake in Find.com to another buyer for more than $50 million plus capital expenditure.

Generation Zero CEO Matthew Krieg is also the president and CEO of URL Holdings.

The agreement with URL Holdings covers 51 membership interests representing 99 percent of the ownership. Generation Zero plans to buy the remaining interest.

Generation Zero previously was called Velocity Oil & Gas Inc. and was headquartered in Houston.

Form 8-K filing: http://tinyurl.com/23ftbdp

Also at citybizlist, see:

Generation Zero Group Buys Beach.org Domain Name - cbl

Velocity Oil & Gas Moves to Atlanta as Generation Zero, Begins Trading Under New Stock Symbol - cbl

Posted July 13, 2010
post #3 of 3
big dip, low volume sell off. could bounce here in the coming days. JMO
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