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"SAS" French Companies are lightweight corporate structures set up to be friendly for foreign joint ventures.
Seth Gerszberg has a long complicated history with Frankie Zapata, but he is by far the smarter of the two by a large factor and is running the show. The patents that Seth acquired at his previous takeover of Jetlev have been brought to the table as capital for his ownership stake of Zatapa Industries, SAS, the new entity formed as the partnership between Gerszberg and Zapata.
Seth Gerszberg takes a back seat to no one, this whole IMSC structure being set up now is being managed and controlled by Seth. Gregg Donnenfeld is his long time attorney and now the COO of Zapata Industries, SAS.
In the Frankie conference call, there was blurring my the interviewer of everything into the vague label "Zapata" which mostly refers to the company Zapata Racing (corporate structure notation unclear), a different entity. All products, shows, competitions, etc are Zapata Racing. A good question to ask is what the relationship between Zapata Racing and Zapata Industries. No doubt part of the due diligence.
Since Zapata Industries SAS is a newly formed company, does the sponsorship income that Ford pays Zapata Racing or Zapata Entertainment get transferred over to this new venture or do they get to keep it?
Do Zapata Racing's ( water based products ) liabilities and assets get transferred over to this new Zapata Industries company?
Do the patents currently assigned to Zapata's "PWC" company or "Zapata Holding" ( as noted on the ownership of each of the published patents ) get transferred to the new Zapata Holding company and become part of the value for IMSC shareholders? Or will there be a licensing agreement made where the actual IP remains in the hands of an outside corporation?
Do Seth Gerszberg's water jetpack patents from JLIP and Jetlev and other companies get transferred in as well?
As it currently sits, Zapata Industries is a shiny new company with no history or assets and a dynamic flying daredevil CEO. There are many Zapata companies, many with history, which one is IMSC merging with?
Zapata has developed water and now air pumps that are perhaps unrivaled for efficiency in producing "large" amounts of these propellants
Perhaps......, but no, because they do not exist.
They don't have the technology or the engineering to do so, look deeper into this slick website presentation. These are designer sketches only, not capable or near producing computer models. Check for high school diplomas, then look for a college degrees in any form of engineering.
Zapata uses stock off the shelf model airplane motors to stand on with the "stabilization" coming from the pilot, there is no proprietary software or magic. No secret sauce, no ability to write software. Standard jet skis provide the power for the water products. Every technology they have is off the shelf and re-purposed by a daredevil one man show. If you are looking for a technical asset to save the ship, ask the market about the quality of their water sports based products. Ready to transition to the military? Not by a long shot.
This is a circus sideshow distraction while the real mechanics get played out by Seth Gerzberg and the 100 million dollars in debt. Now you see it, now you don't. Keep one hand on your wallet, this is where the street magic begins.
http://www.jetcat.de/images/p400-rx-a.jpg Zapata Racing / Zapata Industries uses four of these P400 RC model plane engines from the German company Jetcat Jetcat Turbines normally used for Radio Controlled planes. They produce 88 pounds of thrust each, four of them produce a maximum total of 352 pounds of thrust. Thrust cannot be converted to horsepower, so any quoted figures regarding horsepower can be discounted as hyperbole. The software being used by ZR is tweaked open source software with provisions preventing military usage. The tiny turbines scream like little banshees at 130,000 RPM. 120 - 130 decibels. As an officer from the US military notes in the article below, “I guess we won’t be surprising anyone.”
Even Google couldn’t make it work. “The jetpack is a death trap because the engines go off and you’re dead,” says Astro Teller, the head of X, the so-called moonshot factory of Google parent Alphabet Inc.
For a development team worth acquiring in this space look at Jetpack Aviation