Replies to post #31085 on APT MotoVox Group Inc. (MTVX)

[rusty8350]

That was a great find yesterday, a third party write up of the FROZ merger. Good stuff. As is this video outlining APT groups growth from a few years back. Good stuff indeed.

Apr 10, 2014, 2:58pm CDT
APT goes public to help fuel its growth


http://www.bizjournals.com/kansascity/news/2014/04/10/apt-goes-public-to-help-fuel-its-growth.html

Brian Kaberline
Editor-
Kansas City Business Journal

A Kansas City-based manufacturer of propulsion systems and powersports vehicles is the area's newest public company.

APT Group Inc. is going public through a reverse buyout of an existing company called Frozen Food Gift Group Inc. The companies completed a share exchange agreement and late last month installed the top executives of APT to lead Frozen Food Gift Group.

APT, which includes American Performance Technologies LLC, develops and manufactures propulsion technology for use in small engines. Its Motovox unit sells mini bikes, dirt bikes, go-karts and scooters through such retailers as Sears, Kmart and Costco.

APT President Troy Covey said that the company has derived most of its revenue from Motovox products but that the business is shifting as it ramps up its propulsion technology business. He said the company is licensing its technology and selling products to original equipment manufacturers.

APT technology is being used in products as diverse as unmanned aerial vehicles, racing motorcycles and generators. Covey said an exciting new product APT will introduce is the first electric utility vehicle with a zero-turn radius.

He said the company's growth the past three years has been challenging as a private company. Going public will allow APT to raise capital without ceding control of the company.

APT's headquarters is at 8844 Hillcrest Road, near the former Bannister Mall.

Frozen Food Gift Group was founded in 2009 but essentially was a shell company, listing no revenue and just $71 in cash for the quarter that ended Sept. 30. The company (OTCBB: FROZ) has not yet filed an annual report for the year ended Dec. 31.

APT and Frozen Food Gift Group will complete their consolidation sometime before April 30, according to filings with the Securities and Exchange Commission. APT is in the process of applying for a new stock ticker symbol.

Brian leads the Kansas City Business Journal's editorial staff.