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I basically agree. Shorting is legal and they will eventually cover, if it’s a good stock. I have noticed that once good news hits it takes 4 to 5 trading days for the stock to run. I’m not sure about the legality of large groups colluding to move a stock, but they got away with it with GameStop, so??
I suspect that’s what will happen here. There are groups that want to load at these levels and have the ability to keep the PPS down. When they let it go, it’ll fly. I think this type of organized manipulation is illegal, but impossible or difficult to prove. I will be able to get the dark pool short position after midnight tonight. I expect it will be less than 100,000 shares by then, probably less than 75,000.
It’s now down to 28,000 now:) hard for shorts to cover with no volume, make ‘em pay!
That 51,000 stacked on the Ask at .48, is trying to shake weak hands and load or cover a short position in the low .40’s. I wish I had the powder to slap the Ask for 100,000 shares and teach him a lesson.
Taken from Tradition’s website: Tradition Transportation provides the best OTR, regional, and local hauling and transportation services to all our customers. We have over 300 experienced and caring drivers supported by a team of dedicated and knowledgeable planners and dispatchers, ensuring our customer’s freight arrives safely and on time, every time. We have lanes across the Lower 48, and our network continues to grow.
Oh geez, you need to research Tradition: https://traditiontrans.com/
They are a pretty large Midwest company, APSI’s headquarters are in Florida. They will probably relocate to Indiana.
Once they ring out every weak hand, it will be over.
Agreed! I had forgot about the Preferred (I remembered them in the middle of the night, lol). They ultimately will be worth way more than the 28 million.
Which in the future could be worth millions. I guess my point is, if you include the potential value of the preferred shares, they paid a lot more than 28 million.
They also have preferred stock?
Dark pool short interest down to: Off-Exchange Short Volume 122,595 shares - source: FINRA (inc. Dark Pool volume)
Off-Exchange Short Volume Ratio 22.89% - source: FINRA (inc. Dark Pool volume)
It’s dropped about 133,000 shares, since they shorted it last Friday.
Exactly! Based only on that we should trade at around $1.60. Based on a reasonable forward PE taking into consideration the projected growth of the company I think $4 to $6 is justified. But at this point, at least get to the $1.60.
It would have had more impact if they’d come out before opening today, instead of after lunch. Many missed it.
The boosters will be back, I think the profit from the short, has pretty much played out. Now they’ll go long.
I agree with you, on that point.
APSI has audited revenues of 87 million dollars and expected forward earnings well over 100 million dollars and it has a 7.4 million dollar market cap! That’s crazy!
I think they’re due March 1st. 60 days after the end of the year.
Here is another interesting figure. Since the Super 8 came out, the total shares traded is 1,891,059 (over 3 trading sessions). I would say most investors are holding tight and many have added shares.
It doesn’t necessarily mean dilution. If shares are issued they could be restricted or at a certain exercise price (at $3.00 exercise price, it would take less than 10 million shares). There is no mention of shares being issued in the 8K, which is unusual, so I suspect they have other financing. Getting anti dilutive financing should be fairly easy with a company making over 100 million dollars a year. I think the shorts got a hold of it (I know I sound like I’m beating a dead horse), because they dropped the 8K without the PR on a Friday before a long weekend. It’s a low float stock so very easy to manipulate. Amateur move IMO.
You also should have noticed several key posters disappeared. They will be back, but they knew what was coming and several were probably part of it. Imo.
Interesting statement from today’s PR: Updates on each of Tradition’s subsidiaries will be forthcoming as well as new business. There’s literally so much that it’s a struggle to know where to begin. It is my hope that shareholders and investors can look at how this deal has evolved thus far and understand that I’m working to add maximum value and benefit for our valued stakeholders.”
Carnes had indicated on Twitter late last summer, the numbers for 2022 exceeded 100 million dollars.
You are correct.
First, there is not big time selling. There has been less than 600,000 shares trade and there has been more buys than sells. Look at the dark pool short figures over the last 3 trading days, it’s plain as day what happened.
News just showed up on my Fintel:)
Dark Pool numbers are huge, when figuring out what’s going on. I was in CABA the dark pool shorts kept that stock under .85 or so, for weeks, even though experts were calling for it to be $6.00 and there was no reason for it not to be several dollars. Well the dark pool shorts covered and it ran to $9.00.
Buys today = 222,044, Sells = 239.207, Unknown = 62,208 these numbers do not equal dumping. They show manipulation. Imo.
Watch, went thru this many times on other stocks.
All the shares that sold aren’t short (99% of individual traders, can’t short a penny stock), but whatever hedge fund shorted this or group of individuals that have access to the dark pool, shorted 255,000+ shares and created the sell off. Newbies and traders that can’t psychologically withstand these drops, sell there shares. It’ll pop here shortly.
According to Fintel, this morning there were 188,000:dark pool shares short, yesterday there was 255,000 or so short. I disagree.
That’s the first place I checked and it didn’t show it. Weird. Glad it’s there.
Need a whale to throw $100,000 at the Ask and teach the shorts a lesson.
Many didn’t see it. It came out mid day and hasn’t shown up on OTC Markets yet. It’s shows on my brokerage (ETrade) and is on Twitter. Would have been better if they’d released it before open this morning. In the long run it won’t matter. The news is exactly what I thought it would be, no surprises.
We are about to see a bit of a short squeeze here. Watch:)
Of course there are details, read the 8K! Look at the revenues and assets.
For some reason the OTC isn’t showing the news!
It is obvious people haven’t seen the news. Someone dumped 17,000+ shares at .41, after the news came out. CRAZY, CRAZY, CRAZY!!!
HERE IS THE PR, copy taken off Etrade:
Aqua Power Systems, Inc. Wholly Acquires Tradition Transport Group, Inc. and Traditions Entire Portfolio of Corporate Subsidiaries
1:30 PM ET 1/4/23 | GlobeNewswire
Aqua Power Systems, Inc. Wholly Acquires Tradition Transport Group, Inc. and Tradition's Entire Portfolio of Corporate Subsidiaries
Winter Park, FL, Jan. 04, 2023 (GLOBE NEWSWIRE) -- Aqua Power Systems, Inc. (OTC: APSI) ("the Company") is pleased today to formally announce and further elaborate upon the successful consummation of the recently announced LOI to wholly acquire Tradition Transport Group, Inc ("Tradition") and its entire portfolio of corporate subsidiaries.
The completed acquisition was formally announced in an Edgarized SEC Form 8-K on Friday, December 30, 2022. Due to the enormity of the material disclosure it contains many investors will recognize this particular filing appropriately as a "Super 8-K."
The Company highly encourages all interested parties to read the filing in its entirety to gain a clearer picture of the acquisition that has transpired. This release will attempt to address some of the highlights of the 8-K along with commentary from key corporate leadership.
Tradition was incorporated under the laws of the State of Indiana on September 16, 2015. Tradition is headquartered in Angola, Indiana, and provides freight transportation, brokerage, truck leasing and financing, warehousing and fulfillment services throughout the United States, and manufactures and sells bolts and fasteners, and creates custom plates, cages, and embeds.
As of December 2022, Tradition has approximately two hundred and fifteen (215) full-time employees. Sixty (60) of the full-time employees are its drivers, and one-hundred twenty-two (122) are office personnel. Tradition also has one hundred thirty-two (132) owner operator drivers.
In fiscal year 2021 Tradition Transport recorded approximately $87 million dollars of revenue in its audited financial statement.
Tim Evans President and CEO of Tradition Transport stated: "Months of planning, discussing, and strategizing have come to fruition and I'm more excited for Tradition's future than ever before. First of all, let me be as clear as possible to all the Tradition family of clients, drivers, and other employees that this acquisition does not change our business trajectory other than amplifying and accelerating the path we've already been on. We believe that this acquisition positions Tradition for next-level growth. Tradition is a profitable company with an established customer base. Tradition surpassed our 2021 audited numbers by a significant margin. I'll be talking more about this soon once our 2022 audit is complete. Suffice it to say we are growing and now through this acquisition we have a rock-solid foundation that will carry us far into the future."
As Aqua Power takes on a new life with this acquisition, the Company offered the following as a mission statement that more accurately defines the corporate business: "Our mission is to build a company that provides efficient and reliable logistics and transportation solutions that exceed the expectations of our clients and partners. We strive to be the industry leader by continuously improving our services, investing in the latest technologies, and valuing the safety and well-being of our employees and customers. Our goal is to build long-term relationships with our clients and partners through exceptional service, innovation, and a commitment to excellence."
The Company has set up a new website that will serve as a hub of corporate updates: http://aquapowersystemsinc.com
Stephen Carnes, CEO of Aqua Power stated, "It would be impossible to adequately summarize all the details and potential of this acquisition in one release, but I hope that shareholders can see the immense value that Tradition brings to Aqua Power. Updates on each of Tradition's subsidiaries will be forthcoming as well as new business. There's literally so much that it's a struggle to know where to begin. It is my hope that shareholders and investors can look at how this deal has evolved thus far and understand that I'm working to add maximum value and benefit for our valued stakeholders."
Safe Harbor: This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the Company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the Company with the Securities and Exchange Commission and OTC Markets, Inc. OTC Disclosure and News Service. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Awesome, the PR is out! It’s just not showing on the OTC yet. Crazy we aren’t $2.00 right now. People read the damn PR it’s all there:
Looks like the Dark Pool shorts, which I believe are most likely a hedge fund, were allowed to cover in the low 40’s. Thanks to inexperienced traders ( which they count on). I can’t get an update on their current short position until tomorrow morning, but I am guessing it will mostly be closed out. IMO, once they are done manipulating, APSI will run over a dollar, even without a PR.