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..
