GSDT Fintech Group Inc. (GSDT)

[Steady_T]

Additional changes that didn't make it in the 15 minute edit period to the previous post.


Other than the fact that there is no evidence for the additional 102.81 mil shares being in his possession, I would agree.

Which was the point of my post.

Having Weitzel own 51% of Evermedia holdings brings no benefits.

To maintain SDVOSB designation the 51% owner has to be in charge of day to day operations. Weitzel is a Director of Evermedia Holdings. Directorship does not qualify as in charge of day to day operations. Therefore EVERMDIA HOLDINGS DOESN'T qualify for SDVOSB status.

However, Wetizel, as CEO, is in charge of the day to day operations of STS Evermedia, which is the organization that has the SDVOSB status. That is the only company that he needs to own 51% of.

Lets see, Weitzel owns 350 Class B plus 124 Class A out of 1.13 bil share which is 474 mil /1130 mil = 41.9% of Evermedia Holdings which owns 80% of STS Evermedia. That is 80% x 41.9% = 33.52% that Weitzel owns of STS Evermedia through his 350 class B plus Class A shares. He owns 20% of STS Evermedia shares directly. 33.52% + 20% = 53.51% of STS Evermedia.

That makes sense to me because I could never figure out why Sims would cede control of the parent company to Weitzel.

It looks to me like Sims didn't. He still controls the parent company and Weitzel owns 51% of STS evermedia and is CEO but doesn't have voting control of it.

If I have this wrong, please enlighten me.

Steady_T