"They really know how to take the shareholders' money for a ride."
By: frisky $$$
Reply To: 25312 by vklepa $$$ Sunday, 20 Aug 2000 at 11:44 PM EDT
Post # of 25316
Vkkepa, read my post#25296 or the 10q statement filed by ZSUN on August 17, 2000. You will discover that Bryant Cragun is in the advisory board of ZSUN. Hans Von Weiss is a director of ZSUN. Braynt Cragun under his 100% ownership of Credico Co and Hans Von Weiss formed a company called MeKenna Goup Entity (MGE). MGE helped ZSUN to participate in McKenna-ZSUN Venture Fund. Because ZSUN's management was so thankful to Bryant Cragun and Hans Von Weiss making this idiotic deal for ZSUN shareholders, it decided to pay them 100,000 shares of ZSUN as finders' fees. In a very confused process, ZSUN will finally give $15,000,000 to an LLC, called McKenna Accelerator Venture (MVA). However, ZSUN will only own 60% of MVA. It will lose $6,000,000 immediately. MeKenna Group Entity (MGE) will own 25%.The management team will own 15%. Both MGE and the Management team immediately make $3.75 million and $2.25 million from the gullible shareholders of ZSUN. Moreover, the management team will charge up to 5% of management fee for the total assets of MVA, win or lose. Who will be in the management team? I believe that it will be Bryant Cragun, Hans Von Weiss, Scott Elder and Allen Hardman.
They really know how to take the shareholders' money for a ride.
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