"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.
