Jimmy is small potatoes--> in fact he owns less shares then the others listed on the records,
Jimmy Chan 19,063,502 shares
Amy Thai 20,644,733 shares
Allen Huang 70,274,568 shares
Chenlong Tan 70,274,568
and
Shashan Huang 88,954,976 shares
The total combined comes to 268,612,347
That means in total combined, the holders who are running the show in name only, own less than 3% (combined)of the authorized, and only about 10% of the float.
Jimmy alone owns only less than 1/10th of 1%, for a CEO that is pretty much NOTHING.
this further proves Jimmy is just a CEO in name only and is just letting others pay off some debt who get the bulk of the shares issued. There is no reason for Jimmy to work or even complete all the news posted because he pretty much has noting to gain by being the CEO. Because the company is broke and Jimmy owns like no shares, there is no reason to stick around.
SGMD issues worthless shares when debt is paid to other 3rd party investors, The debt paid goes to Jimmy and the debt shares are dumped to the public investors, the company is pretty much just a tool to move money to others except YOU the investors.
When the ones listed as CEO etc, own pretty much no shares, is because they know they are worthless. If people who own the float of 2+ billion voted to take over SGMD they could easily. But that is one part of the plan to sell to 1000s very few to prevent a proxy take over. YOU all own the company, Jimmy and his partners own far less then many of you.
the float holders own about 90% of the company, that should tell you all that the company insides know not to hold shares. If they though they would rise they would own 90% while only selling 10% but the opposite is happening and is the tell tale signs of worse things to come.
See how this works.
