GSX Whitepaper Jan 17th 2021The following are SOME direct quotes for the GSX Terms & Conditions:
GOLD SECURED CURRENCY (GSX) COIN DISTRIBUTION EVENT (https://gsxcde.com/terms-and-condition).If you do not agree with these terms, you are
NOT allowed to purchase GSX from the company.
1. Conditions to GSX coin distribution
Neither the Company nor any of the Apollo Fintech Ltd. Team has provided you with any advice regarding whether GSX is a suitable investment for you.
You are legally permitted and authorized to purchase, receive, hold and otherwise make use of the GSX in accordance with the laws of your country and any other relevant jurisdiction applicable to you
1.10. By acquiring GSX, you are not making a regulated investment or any other designation of this character as may be interpreted by the regulator in your jurisdiction.
1.12. You waive any right you may have, or any right you may thereafter obtain, to participate in a class action lawsuit or a class wide arbitration against any entity or individual involved with the distribution of GSX.
1.13. Your acquisition of GSX does not involve a purchase or receipt of shares, ownership, or any equivalent in any existing or future public or private company, corporation or other entity in any jurisdiction and is not a security.
1.17. You acknowledge that an employee of Apollo Fintech or its subsidiaries will not make any statements about the expected price of cryptocurrencies. If an Apollo Fintech CDE employee does make a statement regarding the price of cryptocurrencies, then their statement is an opinion from which no rights can be derived, and they are going explicably against employee protocol.
1.18. You guarantee and acknowledge that you are not a citizen or resident or resident of the United States.
3.2. Terms and Conditions
a. I have received and reviewed the Coin distribution event terms and have taken appropriate legal and tax advice with respect to the same.
b. I understand that GSX coins do not represent nor do they entitle the holder, in any way whatever, to a:
i. Depository Account;
ii. Custodial Account;
iii. Cash Value Insurance Contract;
iv. Annuity Contract; or
v. Equity, Share, Ownership, Payouts and/or Debt Interest.
c. GSX coins are held subject to the terms and conditions of the Coin distribution event terms and this Application (this Application).
d. No certificate will be issued in relation to my GSX coins and my personal GSX coin holding will not be reflected, recognized, or recorded in any account or ledger maintained by Apollo Fintech Ltd.
I am not aware of and am in no way relying on, and did not become aware of the distribution of GSX coins through or as a result of: any form of general solicitation or general advertising including, without limitation, any article, notice, advertisement or other communication published in any newspaper, magazine or similar media or broadcast over television or radio, or electronic mail over the internet, in connection with the offering and distribution of GSX coins and I am not purchasing GSX coins and did not become aware of the offering of GSX coins through or as a result of any seminar or meeting to which I was invited by, or any solicitation of a subscription by,
a person not previously known to me in connection with investments in securities generally;
Now we have direct quotes from the https://gsxcde.com website for GSX. 
GSX is backed by assets
GSX holders are the trust beneficiaries of the mineral rights and assets.
Continued growth increase is asset value of land and gold backing GSX
Yearly bonuses for GSX holders paid yearly
GSX is redeemable for actual gold
GSX combines the best elements from a stable coin, cryptocurrency and investment coin.
Discussion In the first line in the T&C we read - Gold secured currency (GSX). This is because GSX has assets that are securities (e.g. gold and land where the value is derived from) and therefore is a security.
You are also are NOT allowed to purchase GSX if you are citizen or resident of the United States (1.18). If you are a citizen or reside in the US and have purchased GSX, you have broken the terms and conditions and broken the contract. Your problem, no refunds.
If you live in any other country and authorised to purchase GSX you must abide by your jurisdiction laws and pay taxes. This is your responsibility, not Apollo Fintech. Remember every country has strict laws on who can buy a security and it’s your problem, no refunds.
Now to remove any legal responsibility away from Apollo Fintech, if you do buy GSX it is NOT a regulated investment. This means NO independent, legal entity (e.g. FINMA etc) can protect you or make Apollo Fintech return any looses you may occur if this turns out to be a scam, regardless of jurisdiction. Another words no refunds.
Apollo Fintech is basically saying if your regulator in your jurisdiction says it MUST be regulated, and you bought GSX, you did so illegally, thus no refunds.
A further attempt to cover Apollo Fintech arses, if you buy GSX you cannot bring class action lawsuit or a class wide arbitration against any entity or individual involved with the distribution of GSX (1.12). When this turn belly up and the shit hits the fan, no refunds as you cannot sue which WAS your only option, AND the GSX investment is NOT regulated therefore you have no protection (1.10). No refunds.
When you do purchase GSX (1.13).
i. you will NOT receive receipt of shares
ii. you will NOT receive a receipt of ownership to anything
iii. GSX does NOT involve any equivalent in any existing or future public or private company, corporation or other entity in any jurisdiction and is not a security.
Now Im a little confused with the T&C 1.13 iii. The very first sentence in their T&C they say GSX is a security backed by gold. The GSXCDE website also clearly states GSX holds are trust beneficiaries of the mineral rights and assets and yearly bonuses are paid. This makes it a security but I guess not because all it takes is Apollo Fintech saying it is not a security therefore its not a security, right? LOL WRONG!
But what would I know. Just because GSX is advertised by Apollo Fintech as a security and you bought it thinking you were getting rights to other assets, I hate to burst your bubble but according to the T&C it is NOT a security. Confused? Very contradictory, but some of you went ahead anyways and bought GSX. Sorry, no refunds.
To further add salt to your wounds this is repeated in the T&C (3.2, a) and a further alarming admission is made. “ No certificate will be issued in relation to my GSX coins and my personal GSX coin holding will not be reflected, recognized, or recorded in any account or ledger maintained by Apollo Fintech Ltd.” Just in case you were wondering a ledger is a blockchain. Apollo Fintech just admitted when you buy their non-security/security in which they have no responsibility, they don’t have to record GSX purchase in the blockchain, in fact they don’t have to record it at all. You agreed to this when you purchased GSX. No refunds.
You also acknowledge that if you did buy GSX it was not based on information given by Apollo Fintech or its subsidiaries (1.17). For example if you bought GSX based upon what you read on gsxcde.com which is a subsidiary of Apollo Tech, then it’s only an opinion and not investment advice. You should have appropriate legal and tax advice (3.2, a) because Apollo Fintech is not responsible. You will not get a refund.
You also agreed that your GSX purchase is not because of advertising, solicitation, reading of articles, videos or any electronic media NOR your purchase of these GSX coins based upon a person NOT previously known to me in connection with investments in securities generally. So if you bought GSX because an unknown person recommended it, you problem, no refunds. Sorry you broke the terms and conditions by doing that.
To reinforce the conditions in (1.13) it is reiterated that GSX coins do NOT represent or entitle the holder to a Depository Account, Custodial Account, Cash Value Insurance Contract, Annuity Contract or an Equity, Share, Ownership, Payouts and/or Debt Interest. Yeah I know Apollo Fintech is contradicting themselves. But we all know what that means, Apollo Fintech has no financial responsibility if you broke any of these rules, so no refunds.
ConclusionThe gsx white paper is contradictory in places and offers more confusion to the legal standing of what GSX is. In places it says it is a security, and on their official CDE fundraising website they also clearly state it is a security, however in the same breathe they claim it is not a security. Confused? lol. I bet some of you bought it anyways….
The terms and conditions to buy GSX (gsxcde.com/terms-and-condition) requires you not to reside or be an American citizen. If you are then you broke the T&C’s, no refund.
If you live anywhere else you can purchase GSX as long as you had independent financial and tax advice, I bet you didn’t. When you bought GSX it wasn’t allowed to be based on advertising, solicitation, reading of articles, videos or any electronic media and NOT from a person NOT previously known to you in connection with investments. If you did that, well thats your issue, no refunds.
Also Apollo Fintech will not issue a certificate nor does this institution have any responsibility for recording your GSX coins on a ledger or anything of the like. How do you feel now that the only record is the blockchain in which Apollo Fintech does NOT have to record your purchase? They basically said if something goes wrong with the database, your problem, no refunds. Imagine that, a billion dollar company with huge assts saying they have no responsibility in recording your assets. That does NOT happen in real life people, thats why you should have looked for independent financial advice. A financial institution has a responsibility of accurate record keeping and the ownership of assets.
In conclusion the white paper contradicts itself and the official GSXCDE website. The white paper attempts to put the sole responsibility on the purchaser of GSX and Apollo Fintech has NO responsibility in recording your assets. If you did buy GSX through advertising, electronic media such as video or articles or from a person not known to you with investments then you have broken the T&C’s and entitled to no refund.
When this scam does come to an end, no regulatory financial body is able to help retrieve your lost funds because this was not regulated. You also agreed not to sue them when you bought GSX. This is your risk you took when you didn’t read the T&C’s.
I wonder how long before Apollo finch change their wording to rape you of your hard earned money. Thats what liars do.
How do you feel now?
Apollo Fintech and GSX coin are scams. Steve McCullah is a scammer.
