SportsQuest Inc (SPQS)

[mick]

GOOD REPORE' $SPQS
SPORTS QUEST (OTC:SPQS) MANAGEMENT DISCUSSIONS
West Palm Beach Florida Nov 26 2021
Company current business model:
We are in the smart energy savings devices B2B business sector. This means purchasing raw
products from one of nation's largest suppliers such as Magnum Innovations who carry the
enOcean proprietary switches and devices. We retoolthem altering and creating sas may be
required by the contractor or the end user.
Covid and supply chain:
The covid pandemic has especially been hard on the industry and suppliers such as Magnum
Innovations were not immune to this pandemic and business trauma or disruption. As they are
one of the largest Distributors of enOcean product lines.
Opportunity:
Magnum innovations is the beneficiary of over 20 million dollars in private Equity Funds
including a bank loan of approximately $500,000; and majority shareholders cash and sweat and
investments of several million dollars. We entered discussions with Magnum Innovations to
acquire this company for the fraction of its real value. In other words, pennies on the dollar.
The management estimates that there is approximately $800,000 of value in existing inventory
and supplies. There is approximately $400,000 + in accounts receivable and approximately
another $750,000 in purchase orders at various stages of satisfaction.
We have entered into a complex financial agreement with the secured creditor or the bank which
will allow us to purchase the inventory secured by the bank at a wholesale price to satisfy the
accounts receivable and existing purchase orders. Under the loan settlement agreement we would
collect these accounts receivables and those funds would go towards the reduction of the
outstanding debt. SPQS would be saved harmless from any future liabilities or claims of the
bank.
We intend to do this as an overlay or a white label solution under the brand name Magnum first
inc with the domain name Magnumfirst.com. Timeframe of approximately 8 to 12 months for
the entire Magnum Innovations to migrate over to Magnum first company, a division of Sports
Quest (Spqs)
Our plans are to have Magnum first take over Magnum Innovations 100% within the next several
Q and continue to carry the enOcean proprietary switches and devices thus making SPQS the
largest Usa distributor