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I guess what I keep thinking and the reason I hang in here, is that so far Carnes has not made any money on this and he has spent over a year putting this deal together. There has been no dilution and tens of thousands spent in audits and filings. I just don’t see him letting it go. Also if Tradition plays along, they’ll end up on the NASDAQ and all the insiders will get rich or at least have the potential to. I do agree with the Bears that this has been poorly handled, but I still think we’ll see $1.00++.
Audits take a long time. I was just looking at another stocks’ audit and it cost $450,000 and it was a single company no subsidiaries. Hopefully they don’t have to pay that much. I would expect to see it any day at this point. They are also working on the revised S1. They had 2021 audited, which I think included the first quarter of 2022, since their year ran March to March.
Yes, but it wasn’t operational, at that time. At least I don’t think it was.
According to Facebook their Savannah Georgia site is up and running:) Wish they’d at least Tweet that.
These guys are killing me. Been invested here over a year, they’ve been pretty good at communicating and doing what they promised, until now! Wtf.
Here are the six subsidiaries I referred to in a previous post ( taken from the super 8K):
Wholly Owned Subsidiaries
Tradition Transportation Company, L.L.C.
Tradition Transportation Company, L.L.C. was organized as an Indiana Limited Liability Company on January 22, 2016. Through this subsidiary, Tradition operates its tractor and trailer fleets, which are discussed below.
Tradition Leasing Systems, L.L.C.
Tradition Leasing Systems, L.L.C. was organized as an Indiana Limited Liability Company on September 17, 2016. Through this subsidiary Tradition engages in equipment acquisition and disposition.
Tradition Logistics, L.L.C.
Tradition Logistics, L.L.C. was organized as an Indiana Limited Liability Company on January 1, 2016. This subsidiary operates six (6) warehouses with four (4) in Indiana, specifically Angola, Indianapolis, Greenfield, and Greenwood; and two (2) located in Georgia, specifically Statesboro and Savannah, and provides time-sensitive warehousing, logistics and freight management to all 48 continental states and, as needed, internationally (into Mexico and Canada).
Freedom Freight Solutions, LLC
Freedom Freight Solutions, L.L.C. was organized as an Indiana Limited Liability Company on May 3, 2018. This subsidiary identifies and qualifies third party carriers, and connects the loads to the drivers.
Tradition Transportation Sales & Service, Inc.
Tradition Transportation Sales & Service, Inc. was organized as an Indiana Limited Liability Company on September 17, 2015. This subsidiary is principally engaged in providing mechanical repair and maintenance services for tractors and trailers that Tradition utilizes. It operates with the primary focus of maintenance cost reduction, expediting redeployment of equipment, and to serve as a back-stop to safety vehicle inspections.
Anthem Anchor Bolts and Fasteners, LLC
Anthem Anchor Bolts and Fasteners, LLC was organized as an Indiana Limited Liability Company on January 21, 2022, for the transaction with EDSCO Holding Company, LLC, as described above. This was formed as a small exploratory step into the supply of metal bolts, nuts, and other industrial fasteners. This company will serve Tradition Transportation Sales & Service, Inc. as a vendor.
I have bought them thru Etrade. I get a warning, but they have let me do it (I have a pretty large account with them). Maybe they’ve changed it in the past year or two. I don’t plan on ever buying one again. Upgrading my trading to 90% NASDAQ stocks. Pretty sick of the OTC
With Etrade I can buy about anything, even CE.
I don’t think auditors can be part of the company. I think auditing these guys is probably overwhelming, I believe they comprise 6 separate companies, lots of employees and inventory. I had to audit a small fire department one time, took me forever. You have to match every receipt, every invoice, etc.. very tedious.
I’m not worried about the revenues being low, just don’t understand why they can’t file the damn financials.
I don’t think that. Remember there are a total of about 6 companies involved. I believe. They had to change when their year ended from March 31 to December 31. So the financials are probably quite complicated. Still think 5hey could say something.
I don’t disagree with that assessment.
They Tweeted pretty consistently until a month ago. I don’t get it. Just tweet the financials are coming, geez.
I think the quarterly will probably be on time, since an audit is not required for it.
Who knows at this point. I agree with everyone who says the whole process has been totally botched. It is inexcusable that no one from the company has spoken publicly about their failure to file on time. I applaud BB for getting Carnes to respond to an email. I sent an email also, but mine was pretty angry and I called them out for their failure to communicate. Needless to say, mine was ignored. I have cut my position here some, but still have a sizable position. I console myself with the fact they did file 2 years of audited financials (those probably cost several hundred thousand dollars) and Carnes has kept the OS steady for a year and he did a great job cleaning up the shell, but the last 3 months have been a total f,,,k up. The quarterly report is going to be due in a little over 3 weeks, god I hope they get their heads out of their asses!
Getting a little volume all of a sudden. Hmmm.
Well said Chuck!
I don’t recall him telling anyone to buy. BB is a straight shooter. This should have been a good buy at .60. Do the DD, that’s all you can do. I have never seen BB tell anyone to buy anything, he will say when he’s buying and why he likes the stock. Everyone needs to learn to do their own DD. I’ve followed BB for probably 9 years. Don’t blame anybody but yourself if you screw up.
Thanks BB, his response gives me some peace of mind.
They better start talking tomorrow! Can’t believe they never said a word today.
Of course we saw 2 years financials and in reality if you wait, you chase, but hindsight is 20/20. Hell APSI traded for more than this, before we knew anything about the merger.
Yup, I went back and found it.
Tomorrow should be interesting, expect we’ll see why DRUG had this tremendous volume. As the saying goes “ volume before price”.
Read the actual SEC filings, that’s the only DD you need. Nothing fanciful about it.
I’ll look again. Couldn’t find it an hour ago.
Good grief do some DD. Read the Super 8K, their Twitter feed. They acquired Tradition Transport. Have 2021 audited financials of 87 million dollars with an eps of around .16. Down today because 2022 audited financials are late. Earnings according to company will equal 125 million with double the eps!
Where’s the pump? Kind of hard to pump this kind of volume.
I did accomplish something this morning. I responded to their latest Tweet ( sent 3+ weeks ago) and told them how disgusted I was with how they have handled all this, etc., etc.., lol. And they deleted it:) so that means they read it, which was my goal! I hope they are getting inundated with emails, calls etc..
PPS has held up better than I expected
I agree, he needs to communicate
He posts the filings, he doesn’t do them! Geez.
52 week low!
They don’t file and they can’t even put out a statement!
Lawsuit time!
I agree, they’ve done a terrible job communicating.
Hopefully they’ll put a PR out or at least a Tweet explaining what’s happening this morning. They have been totally silent for about a month.
Not if they got them in tonight. I think if we see them before opening they’ll be fine, if not it could be bad.
These guys are killing me!!!
Just checked Edgar's site, they can submit Financials until 10PM ET. They won't post until following day if after 5:30. So good old Suggs was not wrong, lol.
Well if Suggs says it, its gotta be right, Lmao!