Replies to post #64349 on World Surveillance Group Inc (fka WSGI)

[coastiretired]

Gotham Ingedigit Financial Processing Corp...

From what I can gather, that LLC name change dealt specifically with the Power2Process switch (also known as the Mastercard switch). The LLC was set up to share ownership of the switch with a private company called Grupo Ingedigit. Ingedigit owned 49% of the switch while Globetel owned 51%. I'm guessing that the separate LLC allowed easier revenue sharing specific to the switch with Ingedigit. When the asset transferred to Gotham, it makes sense for them to change the name of the LLC from "Globetel Ingedigit" to "Gotham Ingedigit." This is from the 8K detailing the assets that Gotham was to receive in the transfer:

"The 51% ownership interest in GlobeTel Ingedigit Financial Processing Corp., d.b.a. - Power2Process (i.e., Partnership with Grupo Ingedigit)."

The joint venture agreement with Grupo Ingedigit allowed Globetel access to a South American network switch owned by Ingedigit and allowed Ingedigit access to a North American switch owned by Globetel.