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Just a bit of new news, it seems as though Pro Star Freight Systems has reapplied to the US Department of Transportation and has an application pending for common carrier status again....
A check on the USDOT site under "licensing and insurance" confirms it. The broker application has been accepted (many years ago), as well, however, they have never submitted the required insurance for that specific designation....
Just trying to keep us up to date.
Okay, sounds good. I'll keep trying to find out everything I can. I am afraid though, that I think we're probably going to have to wait for him to make a move before we make any serious decisions. I mean, this guy even avoided the SEC... I'm pretty sure he would throw one of our letters right in the trash can...
Thanks, I appreciate that. It pisses me off that I've had to snoop around for information about a public company. I feel like I've been spying on people and honestly, I'd rather not be so involved. But this guy has given me no choice. There are quite a few people here who have dug up some good information as well and I'm sure they've all have better things to do... But the very idea of this guy so brazenly giving us the proverbial finger really rubs me the wrong way. And if he thinks he's going to get away with something... he's dead wrong
I have 3 personal property locations for him so far. One in Chicago, one in suburban Chicago and one in Florida.. as far as letters go, the better choices would be registered mail or hiring a process server.
Yes it would, however, I think we could all agree Zaric has done nothing for shareholders. As a matter of fact, he's actually been THE detrimental force in this company since taking over in April of 2016. He has expended quite a bit of thought and energy trying to keep every scrap of information from us. Thinking he'll save shareholders at the very last second looks like a longshot.
I can only say that if his plan involves purposely destroying our business by shutting down operations, stealing our assets, customers and employees and transferring them to a company he owns and runs exclusively, will not go well for him. It's a childish and amateurish way to go. A path which has been tried many times by people who ended up actually losing their company and ending up in jail.
Remember, public or private, we are shareholders and we own our respective portions of this company. We have rights and hiding trucks, switching company names on their sides and changing the registrations on trucks and trailers won't free him of his responsibility to us.
It's not our fault if he thinks he's signed a crappy deal with Roger or even if the Hydroplant device didn't work as advertised. If that's even his problem...
I was hoping Pro Star Freight Systems was going to be used as a freight broker. When you check their insurance information on the usdot website it shows that they have an application in to be a broker.... That way, Pro Star Freight Systems could broker cargo to any carrier and get a piece of the action. Also they could funnel work to Arrow Freight and continue to carry for the broker's they already work with...
Don't really know what he's doing with Pro Star. As for Arrow, yeah, my guess is Arrow Freight will be running soon...
Friends, as of today, Pro Star Freight Systems operating authority with the US Department of Transportation is now listed as "not approved." Upon further investigation, it seems the reason for this is PSFS does not have any carrier insurance on file.
Sure... I will let you know what they say.
As far as legal advice is concerned it just seems more appropriate to let the Illinois Attorney General's office review the information and take action or turn it over to Florida authorities or the SEC.
I would imagine prior case law will reveal whether the State of Florida where HPTG is incorporated or the state of Illinois where Pro Star Freight Systems is incorporated would be the proper venue for investigation and prosecution. Since Pro Star Freight Systems is a wholly-owned subsidiary of HPTG, I'm not yet sure how the venue works out.
There won't be any cost involved letting a particular State's Attorney General's office review the matter or refer the case to the SEC.
I think there's plenty of proof that the company is healthy, however, that has nothing to do with what Zaric has done (relating to false statements in a press release involving a publicly traded company).
Yes, I've spoken to plenty of owner-operators and actual employees at Pro Star Freight Systems. I never heard anything negative relating to business prospects and activities.
We do not have a stock transfer agent anymore so the overall share count is unknown to anyone other than Mr. Zaric (or the whomever he designates to handle that information). The actual Book value of the company is unknown. Obviously just to simplify it, we need to know all assets held by the company all liabilities cash flow things of that nature that we've all been denied by the lack of financial reporting... At last count, there were roughly 404 million shares outstanding. My broker now shows 366 million shares outstanding... We have no way of knowing if either of those numbers are correct. And yes, there is a risk of further dilution if/when Zaric executes his GoldenShare (Greenshoe Warrant).
Who knows who's doing it.. there are no market makers involved in trading so an individual broker, or brokers have to match these trades.
it certainly seems like someone is trying to illicit an emotional response by executing a 1c trade down here.
Ok, sorry about that. My misunderstanding.
You called that a couple days ago... !
That's a good question... The more the board talks about these things the better. And since you've asked for my opinion, I'll give it, with the understanding that it's simply that, an opinion.
I would agree with you that Zaric doesn't "need" the shares. I think we could all agree, however, that "want" is something completely different.
I think if Zaric was indifferent about shares or shareholders there would be absolutely no reason to run this company under a complete cloud of secrecy. They generate sales, Zaric has attempted and succeeded in expanding operations (well temporarily, for a while anyway) has continued to update the fleet (via Arrow), has made his annual filings with the states of Illinois and Indiana and basically done everything a good business man does when trying to be successful running a business and yet he has avoided every shareholder phone call, email, visit to his company that I know of. Quite frankly, I believe he's tried to make it look like the company is a failure... by saying nothing and purposely not filing financial information... The guy won't even update the mileage driven by his company when he has no problem updating Pro Star Star Auto Groups numbers... Christ, the exact same person responsible for looking after PSFS DOT and UCR filings trucks does PSAG as well... The very same person...
Well who in the world would that influence other than shareholders? And influencing shareholders in that way typically results in shareholders giving up their shares AND perhaps more importantly, keeping new ones away The guy even goes so far as hiding his trucks in the back lot of his property and Hammond so you can't see them from the street. It's ridiculous, period.
What he's doing, or maybe it's better to say what he's not doing, is done for effect. Plain and simple. And it's being done for his benefit.
I think so... I imagine it's been irritating for Zaric that he hasn't been able to shake many shares loose.. It is interesting though, when looking at the terms of the merger agreement, once he converts his Series A Preferred (worth 323 million shares) how many more shares does he have to issue (via the Greenshoe warrant-- or -- referred to as the Golden share in the filings) to get to his 84.9%? That's going to depend on how many shares in the company's treasury.
Obviously, the more shares he has to issue, the worse it would be for us by diluting our respective holdings....
So that begs the question, since we're in a pretty vulnerable position, would it be better for us if he were to merge his privately owned entity with our mutually owned interest?
You can make the argument that it would be better for him as well.... He would be able to combine the two concerns merging the shares of both companies together where he would get his 84.9% without diluting shareholders all that much. Additionally us, as a group of shareholders, would benefit slightly because there is value or there would be value with merging with another company.
Creating the holding company cost Zaric practically nothing. Arrow Freight however, was completely Zaric's business and not part of PSFS. Pro Star Auto Group, however, was started with a handful of Arrow freight trucks.... 06 and 07 Volvos... In the beginning, when there wasn't much business, a few of those trucks were leased out to White City Logistics and Maybach International Group...
Anyway, that's what I would like to see happen, but I have absolutely no idea if it will.
Yes.... Don't forget Roger, either..
Green, regarding the 19 trucks... The press release terminology used concerning the trucks was... the "addition" of 19 trucks. I don't know if any of these we're actually purchased.. I accounted for approximately 12 of those trucks in Pro Star's USDOT filings by cross referrencing VIN numbers from old inspection data for Jesus G Trucking and Tony's Trucking... Some of the principals with those 2 companies became owner operators for us. We also took on at least one dispatcher as well. I think that business arrangement is all but over now. Several of those Florida owner operator companies have already been dissolved. I do not know if we are still utilizing the Orlando facility.
As far as the company going private, I know both Indiana and Illinois have laws governing reporting, annual meeting notification rules and the like protecting minority shareholders like us... Whether Zaric would follow those voluntarily would be debateable...
Also, for the record, I have a the missing 5+ mil...
No problem TJ, glad to do it. As far as this guy's end game, who knows.... How many scenarios are there?
His private companies are ASN Holding LLC, Arrow Freight Incorporated and Pro Star Auto Group. In the past (you may remember) Arrow Freight Inc. was used by Zaric by virtue of the fact that Pro Star Freight Systems would lease trucks from Arrow Freight.... Those trucks were then used by company drivers, hauling for Pro Star Freight Systems... Now, Pro Star Freight Systems is almost completely an owner/operator set up... No more company trucks (almost none... PSFS tells the USDOT they're down to 3 company trucks). Last fall, at company headquarters, they posted an "Arrow Freight" sign on their entry door alongside the Pro Star Freight Systems sign... There would have been no reason to do this if Arrow Freight was just remaining as Zaric's leasing arm.. Shortly after that, Arrow Freight Inc. files for carrier authority with the USDOT. ... Why?
I think one of the keys to all of this, when you're trying to figure out what's going to happen with Pro Star Freight Systems, is finding out which companies are now operating under the ASN Holding umbrella. One of the companies I haven't mentioned is Pro Star Trailer Leasing... I'm convinced that company ended up with our 30 new trailers (2016). The usdot data used to show that we owned those 30 trailers... Now we don't... At least it doesn't show up in the data... But our website has always said that trailer leasing was "coming soon". I don't think Zaric would be so stupid as to purchase those trailers with company money and then transfer those to private company that he owned... So I'm reasonably certain, one way or another, we still own those trailers...
So, the way it's stacking up is he has a nice little private entity cobbled together under a holding company umbrella... And he has a public entity which is PSFS and ProStar Truck Center....
Now, he has a lot of "potential" wealth wrapped up in his public entity.. So, what does he do?
In my opinion, ultimately, he is going to combine all of his enterprises under one tent.. whether it's going to be wholly public or wholly private .. it just makes sense....
If anyone on this board sees a way Zaric could essentially steal all of our assets and transfer them into his complete control, cutting out all shareholders except for himself AND not go to jail for doing that, I'd like to hear how..
TJ, as far as Pro Star Auto Group is concerned, I believe they still are active. They filed an MCS 150 in November of 2017 with the USDot Showing their still in operation so they've kept up to date with that. I believe the NGS status that you see for the Illinois Secretary of State simply means that they are not in good standing, however, that's typically the result of not filing your annual report with the state. If you go to the Indiana Secretary of State, where Pro Star Auto Group is actually Incorporated, you will also see that they are late in filing their annual report with them. Additionally, as I posted a few days ago Pro Star Auto Group has changed their address to a facility in Goshen, Indiana... I have not been there personally as of yet. However, I will go there soon to see if anything is going on down there since everything is done under such a shroud of secrecy... Doing a little research on that property I'm not quite sure why or how Pro Star Auto Group is going to utilize it.
No problem, happy to do it... Same here about the bike... Looking to retire in June... Should be back in Southern Indiana the last week in July... Arkansas should be a great time... I always liked the Bull Shoals/ White River area...
Hello, my friend... Good to see you're still around... I don't have any knowledge for today's activity.... New developments I've come across are limited to Pro Star Auto Group having moved to or is using 305 Steury Ave. in Goshen, Indiana as an address. Pro Star Freight Systems is using more space in Hammond and parking their rigs on the far Southwest corner of the property so you can't see them from Michigan Street very well (you can from the railroad tracks, though).
Pro Star Freight does have an application in with the USDOT to be a broker, however. I don't know if they're waiting for Arrow Freight to get their operating authority before PSFS submits their insurance information which is necessary to be a freight broker. The broker application was submitted a long time ago but Pro Star never filed the proper Insurance to go on long with it. So, I don't know if that was Zaric's plan all along with Pro Star Freight Systems or even if they ultimately intend to become a freight broker. As far as the relationship between Arrow Freight and Pro Star Freight Systems is concerned, I imagine it's quite possible Pro Star Freight Systems could become an owner operator only trucking firm and Arrow Freight will be company drivers only under the ASN Holding umbrella... The last two items are speculation only...
The news was actually released on Nov 24, 2015, with about an hour to go in trading. HPTG opened that day at .0021, Low was .0017, the high was .0045.
The closing price that day was .004
Thanks! I was all set to check...
I couldn't agree more....
Thanks for taking the time to look up the deadline, Wealth... I noticed the recent changes to the 150 form (trucks owned, leased by company) truck reduction 137 down to 3.. And the removal of "vehicles" from property carried (we are back to just General Freight).... And while they were doing that, for some reason, Nik just couldn't update the mileage number..... Go figure....
Green.... It's all very frustrating... In my opinion, I think if Zaric had put out the company's financials in a timely manner, issued press releases on ALL material events and business developments and plans and grown the company slowly with a tighter grip on operational safety and qualified driver hiring and spent a little more money on training and compliance, we would have a market cap consistent with other peers in the industry.
It's a simple, profitable business when run by serious, professional people..
As for the books, they were audited by GBH certified public accountants (offices in Houston and New York). They're a respected firm.
As far as Roger goes, without picking sides, I think shareholders could agree he did a lot of important things the right way. From personal experience, he always responded to every request I ever made ... Sometimes he couldn't answer a specific question, but, he never ducked or dodged me... He always filed the company financials... As ugly as they were... For the few months he was running the combined company, we had press releases and business updates. Zaric forced him out and shortly after that, cut communications with him as well.... I know this because he was able to get answers for me about the company after his dismissal...
As for specific entities in the US protecting shareholders, the SEC and private law firms are pretty much it... And as for the SEC, unfortunately, they're not very good at it... Most of us who ever been involved in a class action lawsuits with public companies who have defrauded investors have found out the only people that make any money are the lawyers bringing the suit.... Several times I've received pennies from lawsuits while the firms make millions... Also, so often the SEC will step in and sanction and/or fine public companies for misleading investors however those fines collected never make their way back to shareholders.... The people who were actually harmed... Pisses me off to no end...
Anyway, in all cases such as ours (viable companies with sales, assets actual incoming revenue) it would be wonderful if the SEC, judicially speaking, would be able take custodial charge of said company and make all financial and business disclosures to shareholders and remove, even temporarily, the very person responsible for running the company in the dark... Just the threat of it I think would stop a lot of people from pulling this shit... Just my 2 cents...
Sure, I remember the 2024 revenue number was 27.3 million with a net income of $660,000.
For the purpose of setting the terms of the deal, Sason, Slotkin and Zaric set the value at 27 million. That number was used to calculate the upfront money and "closing cash" amounts paid to Zaric which represented the 15% he was "losing" in the merger. We could debate about true value of Pro Star back then all day long but there's no reason to waste time... What matters is what Zaric thought it was worth at the time and now, how the market values it. If Zaric was ever concerned about it, he would have shamelessly promoted this company in the press like most Penny listings.... Crowing about every possible deal, talking up every expansion or additions of new tractors.... The fact is he didn't. Additionally, nearly all these companies in the pinks who don't report financials do so because there isn't anything to report... Unless they want to talk about how many additional shares they issued to dubious lenders....
Again, our O/S never went up over the 404 mil. mark.
Listen, Pro Star makes money and their trucks are on the road all day. They're fleet is still 100+ strong and is fully utilized. There's no waste there. The cost structure of pro Star Freight Systems is lower than most trucking companies here. The two main reason for this is a substantial amount of the workforce is based in Serbia ... Obviously the employee costs are roughly 25% of what they would be here in the states. Also, nearly every driver is a 1099 "employee"... Which means, for tax purposes, they're not really employees... they're independent contractors who are responsible for their own taxes, insurance etc... Just understand Zaric has been silent since April 2016 because for reasons only he knows, it benefits him.... It's not because the company has done nothing since. Like a typical Pinky...
I'm sure he'd love to get as many shares back as he could. He owned 100% of Pro Star Trust prior to the merger...
Just to keep it simple, without getting bogged down in all the minutiae of the deal, merging with HPTG (thereby going public) cost Zaric 15% of his company. However, he was paid cash (if anyone remembers the total amount of closing cash and upfront money please post it because I'm not at home and anywhere near my files), which, one could argue, was for the 15% he had to give up. But, he was given preferred stock and another warrant which would eventually give him his 85% but he had to wait at least 18 months after the merger deal was closed (which didn't officially happen until the end of March of 2016) before he could convert those financial instruments into common shares. As I previously previously stated, there is a discount rate upon conversion and obviously the cheaper you make the stock price the less it's going to cost the company to issue those shares out of the treasury because they have to be accounted for.
Now, Zaric just brought Pro Star Freight Systems public on his own (through an underwriter or underwriters) it would have cost him in the ballpark of 4 million dollars to do it (just based off the industry standard of 15%) AND a small portion of equity in the business. When our merger was done, Pro Star Freight Systems was valued at 27 million dollars. This number is found in the supporting documents...
So, to illustrate this mess even further. When the merger was done the company was valued at 27 million dollars. Today, the market value of the entire company is just under $37,000. Zaric never intended to raise money or sell a single share of stock in the past couple years. He makes plenty of money from the way the company is structured. If you go back and look at the 10kt filed you will find that Pro Star Freight Systems paid about five and a half million dollars to Arrow Freight...
Arrow Freight is Zaric's company and Pro Star leased the about half of their trucks at that time from Arrow. That income to him is like rent payments.... Believe me, he's okay with the money he's been making from Pro Star.... The big payoff comes from building an entire logistics company and then eventually selling that to an entity such as UPS DHL FedEx etc....
That's where they're really big money is.... And he's in this business for the money...
Has he been trying to shake off investors by letting the stock price plummet the next to nothing and never saying a word about any of the accomplishments they've made in the last 2 years?? I think so. He's probably pissed off that some of us are dug in.... And he knows we'll still be around public or private...
Nothing, really. These trades are executed by brokers who choose to participate in the Gray Market. They're simply matching trades. Anyone can still enter a trade with a broker (as long as the broker chooses to participate) and they'll try to find someone on the opposite side of the deal.. I've gotten a couple orders filled in 6 to 8 minutes, sometimes half a day, and sometimes trades don't get executed at all...
There are no market makers involved... The next trade could get executed at a half a cent..... and the one after that could be at
.0001... you never know...
They've made changes to our USDOT listing today... They're showing 3 trucks for Pro Star Freight Systems now (company trucks). They've had 137 listed for the last year and a half... However, they have not updated the mileage for 2017.
Additionally, per the USDOT Arrow Freight still does not have authorization to operate...
I expect Zaric to utilize Arrow Freight as a carrier in 2018. Whether that's to our detriment, we'll have to wait and see... I expect Zaric to continue to say nothing.
We still don't have a stock transfer agent. My broker lists HPTG O/S at 367 mil. shares It used to match what our old transfer agent had listed on record (404 mil.)... We're relying on Zaric to furnish that new number so who knows if it's accurate. In any event, as of the last 3 trading days the market values Pro Star Freight Systems, Pro Star Truck Center and Pro Star Trailer Leasing at $36,690.00 in total and Zaric is okay with it... Interesting.... Anyway, i hold a very small percentage of the company's stock and I've never sold a single share. I'm dug in like a tick and would never sell a single share for anything less than fair value for my share of the whole enterprise... Any move by Zaric to cheat me or other shareholders out of what we own will prompt a swift filing with the Illinois Attorney General's Office and the SEC. In my opinion, stock fraud has already been committed relating to the press release detailing the Hammond, Indiana, land purchase which didn't occur until approximately a year and a half after said release. This press release subsequently resulted a stock run up and sell off of shares by lender involved in the merger.
Now, in all fairness, we probably were heading for bankruptcy before the merger, so I'll cut Zaric some slack. I think he's been waiting to convert his preferred shares and now would be a perfect time to do it... He would get a 20% discount off of the .0001 cents per share we've traded at for the last 3 days on the issuance of 323 million shares (less any in the treasury). In addition, the company may have to issue him more shares to to ensure 84.9% ownership (Golden Share-Greeshoe Warrant) per the purchase agreement... the conversion and/or new shares would cost the company tens of thousands.. that's a lot less than the cash he got up front when the deal was done... Maybe after conversion and additional share issuance by and to Zaric, he comes out from under his rock (or his party girls --- whichever is most accurate), and runs, grows and promotes this company like a normal owner/CEO...
He can run the company above board and for the benefit of all shareholders.. or he can try to sabatoge Pro Star and cut us out for what he thinks will benefit himself... If he tries that, my thought is it wont end well for him.
.
Arrow Freight will be officially operating as a carrier soon with their operational approval should be granted by the USDOT in the coming weeks. Arrow Freight was always Zaric's leasing arm (not part of Pro Star Holdings Trust).
Zaric's move to apply for carrier status for Arrow Freight makes no sense (for our purpose) UNLESS Pro Star Freight Systems Inc. becomes a broker.. As I've posted several times, one of the current trends in trucking is to establish a holding company for tax, liability and revenue reasons (to name the big 3). Zaric's holding company is ASN HOLDING LLC.
Under the holding company umbrella, you would have a freight brokerage business, which, acts as an intermediary between producers and shippers. Getting a piece of the action on ALL freight carried by any company you can find to move it along (by any means). Even your own firm (Arrow Freight) or any others carrier(s) you wish to create (Pro Star Auto Group- registered and cleared to haul general freight as well). Additionally, you could create leasing companies (such as Pro Star Trailer Leasing) and maintenance companies (like Pro Star Truck Centers).
As we all know, Zaric has done all of that already.. Those companies all exist... There just hasn't been any official word of what exactly is under the ASN HOLDING tent yet, however, those entities are all operating out of headquarters (Oak Brook).
I have no idea what Zaric is doing with our publicly traded stock... Absolutely none. .. Other than let it seemingly die on the vine ... If he does let it die, I also have no idea what he'll do after... He'll still have us private shareholders who can't readily sell shares... Unless he offers privately to buy them from us ...
Anyway, two big issues related to Pro Star Freight Systems trucking growth in 2017 may also be related to Arrow Freight's re-branding. The biggest could be related to the "Conditional" safety rating levied on the company this spring... Not good... It makes it hard to expand as some shippers take a pass on using you. Additionally, the rates you can charge have to be ratcheted down... Some in the trucking industry seem to think having no rating at all actually works better for you... The second, and most likely related, is the trouble in Orlando may have helped cause the Conditional rating. The gentleman running the Orlando operation was shown the door soon after, however, some truckers and owner operators who were loyal to him left...
I repeat I have no idea if we stay public or private. That's all on Zaric... My opinion is Pro Star Freight Systems morphs into a freight broker as Arrow Freight does the hauling under the ASN HOLDING company umbrella. Also under that umbrella is Pro Star Trailer Leasing and Pro Star Truck Center and Pro Star Auto Group.
For all we know, ASN HOLDING LLC may already encompass ALL the previous mentioned companies except PSFS (HPTG), PSTL and PSTC.
It was, but I have no idea if they did anything.
No kidding..... Zero... They're running Arrow Freight out of the Jorie Blvd. address.. A handmade "Arrow Freight" sign was taped to the front office window going back about a month ago (along with a Pro Star logo).
Will he siphon off all business away from Pro Star (to Arrow) to kill it? Will he run Arrow Freight legitimately separate? Who knows....
Zaric's new move.... It seems Zaric has applied for a DOT number for Arrow Freight Inc.
USDOT 2091825
I have no idea... But I'm leaning towards no.. Some of the things I've learned over the past couple of months have caused me to be angry and concerned... Just to give you a couple off the top of my head... You can't buy equipment with company money, then transfer those assets (in silence) to another business under your control. If we do own the trailer leasing outfit, then obviously that's fine. But we get nothing but silence on that (and all questions). However, even more disturbing and actually a bit problematic (for Zaric) is the Hammond, Indiana Clay Street land deal.. Press release says you bought it in early 2016, Lake County Assessor says you didn't... Then, Zaric does eventually get the property for a buck on a quit claim deed on July 31st, 2017. And immediately mortgages it for $110 grand.... The ice Zaric is skating on is flipping thin and any move to kill off Pro Star and/or shift business to ANY new entity he creates or has created will prompt contact with the Illinois Attorney General's Office and the SEC... You can't put out a press release saying your public company purchased property (with company money) when you didn't... And at the same time, Sason probably sold shares into the minor price run up at the same time. Stock fraud has been successfully prosecuted on less than that. It's an easy case to prove... Zaric doesn't have much time to make this right... Additionally, I was given an attorney's name and phone number from someone I trust who obtained it from an employee within the company.. This lawyer is/was supposed to be handling the currently SEC filing fiasco. The guy never answered his phone, ever. The number does check out to coming back to him. Did some additional checking and found out this guy's law license is currently "Administratively Suspended."
Par for the course....
Well, if his plan was to convert to common.... The way the agreement was stuctured, he was always protected no matter what. He had a lock on 84.9%. Again, getting back to conversion, does it benefit him to convert at the lowest price possible? Yes it does...
You said Pro Star produces high revenue... I agree with that. The problem with filing financials is everyone sees that you're generating healthy sales, which, makes it difficult, if not impossible, to drive the stock price down to near collapse so you can convert your ownership to common shares for tens of thousands of dollars... As opposed to how much it would have cost if the stock was trading at a multiple on the level of other trucking companies with similar annual revenues. The alternative under that scenario would have been to use his greenshoe warrant and issue hundreds of millions of shares above the allowable amount to get his 84.9% control in common stock.. there was an 18-month lockup on converting shares after the agreement was officially in effect (March of 2016). I still don't think Zaric did the deal to benefit Sason and Roger for a few million bucks... He could have easily sold a small portion of his company privately for that ... Even the way the company is structured now, it's set up for maximum profits to Zaric... Zaric owns Arrow Freight which leases trucks to Pro Star.. Zaric gets to put the profit from those "rent payments" in his pocket due to better tax treatment of those dollars... He's doing the same thing with trailer leasing (our 30 Vanguards) and truck service (for company leased trucks).. Public or private, he's going to a holding company umbrella structure soon... IMO..
Interesting... So Zaric got a few million for 15% of his company, us pesty shareholders and a Gizmo that may or may not have worked as advertised (not sure who actually owns Hydrophi Technologies Group "Limited" now). Sason and his crew were made whole, Roger got to walk away more or less clean.... Dunno if that's true, but? its not the craziest theory out there...
I would love to see something done for the benefit of shareholders. None of us can help the fact that Zaric may not have signed the best deal (for him) in getting to go public. I don't understand his actions fully but I assume what he's doing is getting as much control of the company as he can. As far as we know, he never increased the overall shares since the spring of 2016. In fact, TD Ameritrade has shown 366 mil overall shares for the past 6 weeks (down from 404 mil.). However, I spoke to Bob Winterle (Philly Stock Transfer Co.) recently and unfortunately he said they officially ceased to be our transfer co. on Oct 20. He has no info on a new firm. Now we're flying further into the dark...