Complaint Review: Green Zap Inc.

Back in December 2005, Green Zap, Inc. advertized that the company intended to go public and list their stock on the OTCBB. The company sent emails to all existing subscribers offering the option to buy debenture notes in the company at either $1,000 or $6,000 option buys. The deducted funds from subscriber's bank accounts using ACH debit transactions.

At the the time, the company's stock was trading at $0.12 per share. By the January 2006 the stock share price dropped to $0.01 a share and never recovered. The company's stock symbol is: GZPN. I have tried contacting various company employees, including the CEO, Damon Westmoreland himself via telephone and email on numerous attempts. I discovered that the company employs an answering service to handle all incoming calls at all times. This practice is very unusual for a legitimate business.

Additionally, Greenzap has also resorted to using a payment collector company called Intabill. This company is based in Brisbane, Australia.
While reviewing my checking account balance online, I noticed a check I didn't recognized had cleared my account. The first red flag was the amount of the check, $99.75. I knew I didn't write a check for that amount. The second flag was the check number used. The check number was 30000, which was way too big. Third, the check didn't contain any reference to anything I would have been paying, such as an account number. The check looked to be computer-generated, with small and close type fonts.

I contacted my bank regarding the strange and unfamiliar check. I was advised to complete and affadavit of forgery. After submitting the required documentation the bank performed an investiagation. After about a week my bank gave me credit for the $99.75.

After having no success in resolving my concerns regarding the company's shady business practices or questions as to how to opt out the of stock purchase and receive my investment of $1,000 back, I contacted the State of California Office of the Attorney General.

I urged everyone who has been ripped off by Greenzap, Intabill or both to contact the State of California, Office of the Attorney General via the web and fill out and complaint form. Within days of doing this, I received a letter from the AG's office letting me know that they have received my complaint and that they would be contacting Green Zap, Inc. regarding my complaint and require that they respond to my concerns.

Hopefully, this will help everyone in getting some of their hard-earned money back from Green Zap. Good Luck.

Chris
New York, New York
U.S.A.