1970 President 20

Extremely rare West German pre-bmx

I saw this outside a local thrift store for $15 and couldn't resist. There is hardly any information I can find about President bikes. Someone online says they were made by the Daimler / Puch / Steyr group. Same guy said that this same conglomerate made the Royce Union brand so that is what I chose from the list, as there was no option for "President". Elsewhere I saw pictures of similar bikes under the name, "Executive". They were apparently made until the late 70's.
I am completely guessing on the age based on comparable Schwinns. It seems to be a copy of the Stingray or Scrambler. There is no serial number, and all it says is "Made in West Germany" on the headtube. I believe the Wald stem, handlebars, and made in Tiawan grips are newer. The stem is dated 1982. Seat is Viscount possibly newer as well. Hubs say, "Torpedo Boy 28 F&SL" whatever that means.
Anyway, I cleaned it up and oiled it. My son likes to ride it around the street. He says it rides smooth!