UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G
Under the Securities Exchange Act of 1934

FullNet Communications, Inc.
(Name of Issuer)

Common Stock
(Title of Class of Securities)

359851102
(CUSIP Number)

May 31, 2001
(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[  ]Rule 13d-1(b)
[X]Rule 13d-1(c)
[ ]Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class
of securities, and for any subsequent amendment containing information
which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934
(Act) or otherwise subject to the liabilities of that section of the Act but
shall be subject to all other provisions of the Act (however, see the Notes).


CUSIP No. 756240305


1.     Name of Reporting Person      Generation Capital Associates
       Tax Identification No                  13-3175117


2.     Check the Appropriate Box if a Member of a Group*
       (a)  [  ]
       (b)  [  ]


3.     SEC Use Only


4.     Citizenship or Place of Organization     State of New York


Number of Shares Beneficially Owned by Each Reporting Person With:

5.     Sole Voting Power                     714,837

6.     Shared Voting Power                   0

7.     Sole Dispositive Power                714,837

8.     Shared Dispositive Power              0

9.     Aggregate Amount Beneficially
       Owned by Each Reporting Person        714,837

10.    Check if the Aggregate Amount in
       Row (9) Excludes Certain Shares

11.    Percent of Class Represented by
       Amount in Row (9)                          9.9%

12.    Type of Reporting Person                   PN


Item 1(a)  Name of Issuer:
           FullNet Commnications, Inc.

Item 1(b)  Address of Issuer's Principal Executive Offices:
           201 Robert S. Kerr Avenue, Suite 210
           Oklahoma City, OK  73102

Item 2(a)  Name of Person Filing:
           Generation Capital Associates

Item 2(b)  Address of Principal Business Office:
           1085 Riverside Trace
           Atlanta, GA  30328

Item 2(c)  Citizenship:
           New York

Item 2(d)  Title of Class of Securities:
           Common Stock

Item 2(e)  CUSIP Number:
           359851102

Item 3. If this statement is filed pursuant to Section 240.13d-1(b)or
240.13d-2(b) or (c), check whether the person filing is a:
(a)	[] Broker or dealer registered under section 15 of the
           Act (15 U.S.C. 78o).
(b)	[] Bank as defined in section 3(a)(6) of the Act (15
           U.S.C. 78c).
(c)	[] Insurance company as defined in section 3(a)(19) of
           the Act (15 U.S.C. 78c).
(d)	[] Investment company registered under section 8 of the
           Investment Company Act of 1940 (15 U.S.C. 80a-8).
(e)	[] An investment adviser in accordance with Section 240.13d-
           1(b)(1)(ii)(E);
(f)	[] An employee benefit plan or endowment fund in
           accordance with Section 240.13d-1(b)(1)(ii)(F);
(g)	[] A parent holding company or control person in
           accordance with Section 240.13d-1(b)(1)(ii)(G);
(h)	[] A saving associations as defined in Section 3(b) of
           the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	[] A church plan that is excluded from the definition
           of an investment company under section 3(c)(14) of the
           Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	[] Group, in accordance with Section 240.13d-1(b)(1)(ii)(J).

Item 4.    Ownership.

           (a) Amount beneficially owned:                    714,837

           (b) Percent of class:                               9.9%

           (c) Number of shares as to which the person has:

           (i) Sole power to vote or to direct the vote:     714,837
          (ii) Shared power to vote or to direct the vote:   0
         (iii) Sole power to dispose or to direct the
               disposition of:                               714,837
          (iv) Shared power to dispose or to direct
               the disposition of:                           0

Generation Capital Associates (GCA) beneficially owns 267,608 shares
of common stock and warrants to purchase 540,000 shares of common stock.
The tems of the warrants prohibits GCA from exercising any warrants
to the extent such exercise would increase GCA's ownership of common
stock at any given time to more than 9.9% of the shares of common
stock outstanding.

Item 5.    Ownership of Five Percent or Less of a Class:

           If this statement is being filed to report the fact that
           as of the date hereof the reporting person has ceased to
           be the beneficial owner of more than five percent of the
           class of securities, check the following [ ].


Item 6.    Ownership of More than Five Percent
           on Behalf of Another Person:           Not Applicable

Item 7.    Identification and Classification
           of the Subsidiary Which Acquired
           the Security Being Reported on By
           the Parent Holding Company:            Not Applicable

Item 8.    Identification and Classification
           of Members of the Group:               Not Applicable

Item 9.    Notice of Dissolution of Group:        Not Applicable

Item 10.   Certification:

           By signing below I certify that, to the best of my
           knowledge and belief, the securities referred to above
           were acquired and are held in the ordinary course of
           business and were not acquired and are not held for
           the purpose of or with the effect of changing or
           influencing the control of the issuer of the securities
           and were not acquired and are not held in connection
           with or as a participant in any transaction having
           that purpose or effect.


SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true,
complete, and correct.

Dated:     February 12, 2002

           Generation Capital Associates

By:        /s/ David A. Rapaport, Executive Vice President
                                  & General Counsel