$$$ HPTG $$$ 625M-AS OS-366.8M, $.0039 Acquisition and Expansion news!! Q4 with expected outstanding fins coming soon!!
CHICAGO, Dec. 10, 2015 (GLOBE NEWSWIRE) -- Hydrophi Technologies Group, Inc., (OTC:HPTG) ( “Company”, “we,” “us,” or “our”) announced today that it completed the transaction to purchase, all of the outstanding stock of Pro Star Freight Systems Inc. and Pro Star Truck Center Inc. (collectively, “Pro Star”).
Pro Star had unaudited management reported 2014 revenue of $27.3 million with net income of $660,000.
CHICAGO, Jan. 06, 2016 (GLOBE NEWSWIRE) -- HydroPhi Technologies, Inc. (OTC:HPTG) subsidiary Pro Star Freight Systems, Inc. (“Pro Star” or “Company”) announced today the purchase of land for the development of an additional truck repair center in Hammond, Indiana. The land was purchased for $300,000. The new site, a one acre parcel, will be developed to complement the Company’s existing truck repair center and operational expansion objectives throughout the continental United States.
“The recent land acquisition by Pro Star strategically positions the Company for continued growth while ultimately driving shareholder value,” stated Nikola Zaric, founder of Pro Star Freight Systems, Inc. “Indiana is an epicenter of the trucking and logistics industries in the United States and, moreover, offers a discounted tax rate as compared to Illinois where we currently conduct the majority of our business operations. With a repair center in this area, we will be able to better serve our existing truck fleet as well as our customers’ trucks with faster service and greater accessibility to necessary and timely repairs.”
