Aqua Power Systems Inc (APSI)

[Roofus]

Indeed they are ….

Still unaudited as of now.

Total revenue for 2023 was $85.5 million. They also had a $24.7 million “gain” on some forgiveness of debt. This led to a (bottom line) positive Net income of +19.5 million for 2023.

And on the balance sheet, Total Assets are $85.9 million, Total Liabilities are $66.4 million, and Total Stockholders Equity is +$19.5 million.

Their Long-term debt at the end of 2022 was $43.8 million on the balance sheet under liabilities, and long-term debt at end of 2023 is showing as only $19 million. Over $24 million in long term debt has been wiped away somehow due to forgiveness on both the income statement report and the balance sheet report. That is good to see.

Positive $19.5 million in Stockholders Equity is really good. They owe a lot less long-term debt than they did before.

Revenue was less year over year, but total liabilities went down a ton, which was good to see. More efficiency overall, and revenue will go up again as they continue to key in on acquisitions - acquiring other trucking companies.