Aqua Power Systems, Inc. (OTC:APSI) has announced that its subsidiary, Tradition Transportation Group Inc., achieved an all-time record for freight bids in a single week. This accomplishment is attributed to the company’s strong performance and enhanced marketing efforts. With high service levels for a major retail client, the company has successfully secured additional freight lanes, showcasing its commitment to quality service. CEO Robert Morris highlighted that this achievement reflects the dedication of their employees and ongoing investments in technology and infrastructure, positioning Aqua Power for future growth.
Aqua Power Systems, Inc. (OTC: APSI) has completed its acquisition of Tradition Transport Group, Inc. and its subsidiaries. The deal was highlighted in an SEC Form 8-K filing dated December 30, 2022. Tradition, headquartered in Indiana, reported approximately $87 million in revenue for fiscal year 2021 and employs around 215 individuals. CEO Tim Evans stated the acquisition enhances Tradition's growth trajectory. Aqua Power aims to provide reliable logistics and transportation solutions, emphasizing improved services and innovation. Future updates on Tradition’s subsidiaries are expected.
Aqua Power Systems, Inc. (OTC: APSI) announced via SEC Form 8-K that it has entered exclusive negotiations to acquire Tradition Transportation Group, Inc., a logistics company based in Indiana. This acquisition aims to enhance APSI's operations in the logistics sector, which represented 80.4% of freight costs in the U.S. in 2019, totaling $791.7 billion. Tradition offers diverse logistical solutions, including freight management and equipment leasing. Shareholders are urged to refrain from contacting Tradition for details, directing inquiries instead to APSI management.
Aqua Power Systems Inc. (OTC Pink: APSI) announced the appointment of Robert Morris to its Board of Directors as it aims to complete a business merger. President Stephen Carnes expressed that Morris's extensive business experience will greatly benefit the company during this critical phase. Additionally, Aqua Power is seeking a court judgment on May 18, 2022, to cancel 32,942,624 shares of Common Stock held by a former executive officer, which could impact the share structure significantly.
Aqua Power Systems Inc. (OTC Pink: APSI) is actively pursuing merger and acquisition opportunities, engaging with several candidates across various industries. The company aims to identify strong teams with significant revenues and growth potential. Additionally, APSI has acquired prime real estate in the Sandbox metaverse within the popular 'Snoopverse' neighborhood, anticipating future value from this investment. CEO Stephen Carnes highlighted efforts to clean up the company, including canceling around 9 million shares and seeking to cancel an additional 32 million shares, potentially reducing the float to under 18 million shares.
Aqua Power Systems (OTC Pink: APSI) announced that it has achieved ‘fully reporting’ status after the SEC completed its review of the Company’s Form 10 filing. The Company has made notable strides in 2021, including the cancellation of over 9 million shares, receiving $200,000 from a Reg. D offering, and reducing its outstanding shares from 59 million to 50 million. Furthermore, a complaint was filed to cancel 32.9 million shares held by former CEO Tadashi Ishikawa. Looking ahead, Aqua Power is evaluating potential business combinations, with an announcement expected in early 2022.