I'd say sooner rather than later, but only the parties really know. Lena is a great looking operation, closing on it brings new life to APRU. Tony got the company thru the shutdown and is still kicking, so I got faith he'll get this done. Either going to be a hero trade or a haircut, but I like what I'm seeing on L2.
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.
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
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