Aqua Power Systems Inc (APSI)

[ed3/6me]

Offer them 51% of company in stock and forget trial. Everyone wins we don't get tanked for years. Don't risk destroying company

[Roofus]

It’s still a great share structure ….

Wish they would just settle out of court and get this lawsuit resolved.

[ed3/6me]

APSI SECURITY DETAILS
Share Structure
Market Cap Market Cap
232,428
01/29/2024
Authorized Shares
200,000,000
01/29/2024
Outstanding Shares
17,204,180
01/29/2024
Restricted
0
01/29/2024
Unrestricted
17,204,180
01/29/2024
Held at DTC
17,204,180
01/29/2024
Float
17,204,180
01/18/2023
Par Value
0.0001

[skichic]

It would be nice if a few hundred share holders showed up.

[samson8]

There's a hearing the 1st week in Feb to schedule the trial.

02/06/2024
Attorney Conference
Session:
02/06/2024 10:30 AM, Judicial Officer: Klineman, Christina R
Comment:
For purposes of setting a 10 day jury trial


The Evans' just filed to get their counterclaims dropped that Carnes and crew filed against them as retribution right after Evans sued them.

[mikeo56]

Fantastic looking for some good news soon.

[skichic]

What happens then? The trial?

[02opida]

WATCH COME SPRING & SUMMER

[02opida]

Jan not over my friend APSI

[mikeo56]

Yes we are.

[ed3/6me]

Moving on up?

[mikeo56]

Ignore added.

[samson8]

Lol this guy pumps Carnes other ticker GMZP too

[skichic]

Dream on, lol

[Vipyr]

huh?

[02opida]

Jan. News yet to hit here APSI

[samson8]

Yeah, they are saying in the court filings that the excuse they couldnt get a clean audit was because the Evans brothers were performing bad accounting practices. Lets see the results of that audit then if that was the case.

And again, even if the books were a mess, they didnt do their DD before the acquisition, yet still promised the audit and uplisting and pie in the sky visions to pump it.

[netmoney1999]

Well whatever it is, Carnes and co also put out communication and PRs that proved to be blatant lies.
How are those 'audited financials' that they stated were coming? LOL

[reader3]

So what. The court isn't going to take the company away from shareholders. The most it's going to do is order some form of specific performance (pay shares / warrants / money...which is what public companies do). And that's if the case isn't settled / mediated before going to trial. The claims were over the top because the claimants were hoping the court would give them everything they asked for. It didn't.

Ask yourself why the minority shareholders remain with the company if the allegations were true. Obviously there were some specific issues and differences with the majority shareholders.

[samson8]

Looking through the court filings, it looks more like buyers remorse and failure on APSI/Carnes part to do proper DD into tradition transportation finances prior to the acquisition agreement.

If they truly found accounting issues almost a year into the acquisition, they should have had a forensic accountant review the books prior to acquisition. I think Carnes got greedy here and saw a prime opportunity here where he could make quick bank by diluting and pumping the acquisition, but turns out he acquired a poorly run company and is now trying to backpedal out of it when the pump didnt work.

[samson8]

Id have sellers remorse too if I was promised a payment schedule for the company I built being sold to someone else and then the purchaser never living up to, or intending to live up to, their end of the purchase contract.

Then they schemed up a reason to remove the Evans from the company and are claiming they don't have to pay them. There is a long list of court filings.

[ed3/6me]

You are assuming allegations are true. Could be sellers remorse. We are not in position to see what was promised and what was delivered.court will decide. Only thing we know is ps never reflected traditions value

[lovethatgreen]

Check back on that in a couple years minimum

[Roofus]

Exactly

[reader3]

If the deal is nullified (fat chance; I've read the lawsuits), then it's back to being a clean shell.

[netmoney1999]

I'm curious as to how this is a clean empty shell when it has fraud litigation going on with the scammer shell owners trying to steal the company they supposedly brought in but never paid for not intended to pay for.

This thing is held by fraudsters. How is somebody else going to bring in something else if/when the Tradition deal is nullified? It would have to be cleaned up all over again and the Carnes & Co scam flushed out.

[Roofus]

Market cap = $170,000

At this price, literally hardly any risk.

An empty shell is usually worth at least $3 million market cap alone. Especially one with a low O/S, low float overall, and one that was cleaned up like this one, after reducing the O/S two years ago from 50 million to 17 million.

If Tradition is not part of the investment (after court and/or settlement), another company will eventually be in this shell.

$170,000 market cap is extremely cheap for an empty shell.

Either Tradition stays part of our investment. Or we hold for another company that would come in at seemingly a much higher market cap value (much higher than $170,000) down the road.

[netmoney1999]

Exactly! There is nothing positive nor any catalyst to encourage anyone to buy. The only reason to buy at this point is if you want to gamble and think there will still be a company in this ticker after the lawsuits are settled. You'd be better off going to the casino.

[samson8]

Why? This will be held up in litigation for a long time and who knows what will be left under the ticker. It wasn't just tax selling.....

[mikeo56]

With tax loss selling over we will see
APSI start to bloom once again.

[samson8]

I find it funny looking through all the past posts and warnings about this POS this year and everything that was warned about came to fruition.

[reader3]

Great minds :)

[ed3/6me]

My plan for long term hold.

[reader3]

Oh, makes sense. Well, 200,000 right now is just a few thousand dollars, so I wouldn't be surprised if there are multiple people who've blown past that number just by soaking up the dip / panic / tax selling in November and December.

[Roofus]

I think the most shares anyone had here before was around 200,000 or so.

[reader3]

Why that number, specifically?

[Roofus]

Does anyone here have at least 300,000 shares?

[samson8]

Nor should it even get qualified. That was Carnes end game though, and what he does on all his stocks. Takes them over, files an offering, racks up huge G&A expenses and dilutes them like crazy right into his pocket.

He would've diluted this just the same if he didn't screw it up so bad.

[lovethatgreen]

No one's gonna buy a stock offering on this at any price with the current status of the shell

[samson8]

The prior owners didn't care about the power, they wanted to get paid for their business. They never got paid. You'd be upset too if you built a successful business and signed a contract to sell it and the purchasers never lived up to their end of the contract.

[samson8]

The millions in dollars of General and Administrative expenses is his end goal. He racks those up on every company he is involved in and that's where he's getting paid.

Dilution is the extra bonus. If he ever gets the offering qualified on APSI too he will most certainly use it.

[ed3/6me]

Seller regret. All the power went to apsi

[reader3]

I think the current merger is being aggressively re-negotiated, not abandoned. We'll see, though.

[Vipyr]

Yup, something's gotta give.

[skichic]

That would be nice, but certainly not counting on it.

[mikeo56]

Now, nobody will get anything. Everyone gets , jack.
I never can understand that.

[ed3/6me]

My opinion is they honestly thought they could because of turmoil in trucking get this thing hitting the ground running and pay it off with profits. We don't know if it was the big drop in pps. Sales lagging behind projections. Mismanagement. Or sur grapes by tradition owners as they expected cushy jobs and a payout. We are outside looking in

[mikeo56]

I would think there is 2 sides to this story.
Some where in the middle the truth lies.
There is much that we'll never know.
It would be nice to get an update someday.
Maybe recovery some $

[skichic]

I know, I keep thinking about that. Carnes diluted the hell out of his other shells, but not APSI. I keep thinking about what was/is his end game. He apparently tried to steal Tradition. I guess technically he has stolen it, at least until the courts untangle it.

[govprs]

Gonna have to find a new reverse merger candidate but how long that takes is anyone guess