The company said 75 percent of its voting rights belonged to co-founders Lin Bin and Lei Jun, and that there were no military-linked people or organizations with ownership. It also noted that a "substantial number" of shareholders were Americans, and that three of its most prominent shareholders were US investment groups. On top of this, Xiaomi said the very implication of ties with the Chinese military would "significantly impair" its business deals. It's not certain how well Xiaomi will fare in averting the de facto blacklisting, which takes effect March 15th.