Its all over!


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Mr. Genaddi

Permanent Vacation
May 9, 2007
41
In spite of my best efforts and intensions to provide the GTX1 for people that wish to have something more out of their GT, I have failed. Not because it was beyond my abilities but rather beyond my finical abilities to float the company along between orders and meet the promises and obligations that were made. As a result, we have stopped building GTX1’s and we will not be taking deposits for them to be built until we are better funded. I simply can not afford to put others at risk while the company languishes along.

As to the tops, we have both the hard top and soft top molds complete and ready to produce but have no money to complete and send them out. So much was spent on developing tops with no compromise that it became the Achilles heel to the downfall of the GTX1. I do not have the funds to complete it at this point but would do the work for owners willing to pay the venders directly for the parts needed. I have no intention of taking any profits from this over run to see it through as I have a moral obligation to the GTX1 owners.

I must move away from building vehicles and concentrate my efforts toward the production of a non-GT related component for which I have a patent pending. It has the possibility of generating significant profits that will put me in a position to pay back GTX1 owners for the over runs that are needed to complete the cars.

Understand, this is a very difficult thing for me to walk away from because of my passion for automobiles and the people that enjoy driving them, but I have taken this as far as I can, so far that the enormous stress is taking a serious toll on my health. This indeed is not the news you would like to have heard from me but it is all that I can offer you at this point, but as money becomes available to me, my highest priority will be to finish tops and repay any costs incurred over and above the contract price.

I hope you will find it in your heart to forgive me for what I have decided to do but I feel it is the only way I can survive this and have a chance at redemption.

Sincerely,

Mark Gerisch
 
Wow, very, very sorry to see this Mark.
 
Dear Mark!

Thank you for the post. I am glad we met yesterday to discus this very unpleasant matter. I know how difficult this is and how badly your hurting. It took a big man to make your post.

I am confident you will move forward and put this behind you.

Your friend,
Daniel
 
Thank you for posting Mark.
 
Tough post..... good luck!
 
very sad day for the gt group. Your cars are spoken of very highly. I wish you luck in your future business ventures and hope you are able to rebound from this. All you guys that have a GTX1, your car just became more rare than it already was!
 
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Sorry to hear about this Mark, I hope you get back on your feet. Best of luck to you.
 
Mark you IMO made the post of your career

It is easy when for those moments in time when one seems invincible however for most they do not know that the cycle of life and that of a business is very much the same as such most times one can simply pop back up without others knowing that an awkward moment in time was felt however sometimes no matter how hard one tries the results are not as needed.

Certainly I am saddened for you and for those still involved with you as the result of activities in place prior to you making this decision and yet I am respectful of you openly sharing that which you have.

To say that this was difficult for you is likely a huge understatement

For one to quit could be construed by others as a failure however for one to make the decision to stop and to openly share why IMO becomes the basis to move forward.

There is little doubt in my mind that the fallout from a decision such as this can and likely will be huge however all things can be dealt with if done so openly and honestly

All the best

Shadowman
 
Respect............

Mark, you have my respect, and then some........George
 
I do appreciate Mark's honesty in this matter. He has admitted to failure, and this is something every human being (if they are honest) identifies. However, it doesn't absolve him from those who are or may be waiting on tops for which they have paid. I suspect based on his comments that he will do the right thing by them, ultimately fullfilling his committment to them. For those willing to live and risk, failure is an inevitable component of life. We don't applaud failure, but we do sympathize with it. We appreciate honesty but, more importantly, we applaud one's successful response to the failure, including the fallout from that failure. For the above reasons, I will cautiously and optimistically await my judgement on he and his company based on his ultimate response to those he is indebted.

In the meantime, I wish Mark best of luck in his future endeavors. From what I have read and heard, the GTX1 was and is a high quality transformation. In some ways, I wish I had done this tranformation early on!
 
Mark:

Thank you for everything. You are and always be a good friend.

I would like to be the first to publicly say that I am on your side. I am willing to work with your vender's and finish my GTX-1. You have given me something that is very special and for that I am in your debt.

I would encourage any other GTX-1 owners to look in their hearts and realize that the smart move would be to act supportive. This would ensure that our cars are finished in a way that will not tarnish the great love and passion that went into making our dreams a reality.

Any GTX-1 owner, please feel free to PM or email me. Lets make this work.

Chris Moody
 
Cyclenirvana said:
I do appreciate Mark's honesty in this matter. He has admitted to failure, and this is something every human being (if they are honest) identifies. However, it doesn't absolve him from those who are or may be waiting on tops for which they have paid. I suspect based on his comments that he will do the right thing by them, ultimately fullfilling his committment to them. For those willing to live and risk, failure is an inevitable component of life. We don't applaud failure, but we do sympathize with it. We appreciate honesty but, more importantly, we applaud one's successful response to the failure, including the fallout from that failure.
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Very wise words - and extremely balanced too.

Hard luck on the business Mark, it must be a truely horrid moment to realise a business is too late to save - it takes some courage to admit to it too. Particularly when one has to admit it to more than simple 'customers' - this group is more than that, it's quite a community.

As Cycle has said, we all sympathise. I hope it works out for you on your next venture and that there's a solution to the GT guys here...
 
All of you GT guys are stand up guys.... interesting thread of course... and handled by all of you respectfully
 
Aside from creating beautiful cars, I know you had good intentions!

Good luck my friend.:thumbsup

Terry
 
Wow, Fred, what a philosopher you are.
 
fjpikul said:
Wow, Fred, what a philosopher you are.
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Nope, just an old ranch hand pass’n thru.
 
Mark,
So sad to see that you're pulling the plug. I just wish that I would have had the funds to get me a GTX when avalible - The value on the existing ones just went up in value if no more will be made...
How many was made in total??

God speed with your patent project.. :thumbsup
 
I'm not sure what is going on with some of you guys with all the well wishing to this guy. What he has perpetuated is criminal.

The only thing Genaddi should be doing car related is stamping out license plates in the state penn.

Get a grip on reality fellas.:frown
 
kjslider said:
The only thing Genaddi should be doing car related is stamping out license plates in the state penn.
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:rofl:rofl:rofl:rofl:rofl

Seriously, I totally agree. I'm at the end of a transaction with Gennadi, that if it were up to Mark it would have deliberately gone south.:thumbsdow:thumbsdow Thankfully someone else has intervened, without his knowledge, preventing me from getting royally screwed.:bs

If anyone else is currently doing business with Gennadi please protect yourself. Don’t assume, because of his "nice" post here, that he will take care of you.....on the contrary I understand that he's taking care of himself first.:devil
 
The name Genaddi in Latin means crook and liar.
 
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