Apple Rush Company Inc (APRU)

[hedge_fun]

A “full acquisition” won’t occur until APRU……

gets right with Illinois.

Tony said APRU was acquiring Lena, which means the corporation will need to be licensed….ie through the beneficial shareholders.

The problem is until APRU has their REVOKED status resolved with Illinois, they can’t be licensed. It’s in the statute.

Restrictions on Issuance of Licenses.

No alcoholic liquor license shall be issued to:

A. A person who is not a resident of the County.
B. A person who is not of good character and reputation in the County.
I. A corporation if any officer, manager or director thereof, or any stockholder or stockholders owning in the aggregate more than 5% of the stock of such corporation, would not be eligible to receive an alcoholic liquor license for any reason other than citizenship and residence within the County.
K. A corporation, unless it is incorporated in Illinois, or unless it is a foreign corporation which is qualified under the Illinois Business Corporation Act, 805 ILCS 5/1.01 et seq., to transact business in Illinois.

https://ecode360.com/14060456

When you see Tony take care of things in Illinois, then you might think he’s getting serious.

File Number 66132749
Entity Name APPLE RUSH COMPANY, INC.
Status REVOKED
Revoked on Friday, 10 September 2010

Entity Information
Entity Type CORPORATION
Type of Corp FOREIGN BCA
Qualification Date (Foreign) Wednesday, 30 April 2008
State TEXAS
Duration Date PERPETUAL

https://apps.ilsos.gov/corporatellc/

Of course APRU can always “acquire” less than 5% and avoid licensing, but I would think Lena would want the REVOKE status cleared up.

Besides, isn’t APRU going to conduct business in Illinois….ie produce products?

GL