Replies to post #10017 on Aqua Power Systems Inc (APSI)

[samson8]

Exactly what I'm saying. He sticks around and siphons off. He's been doing it on INKW for years. Stays on as a majority holder but isn't CEO.

[samson8]

From the Super 8k:

Stephen W. Carnes has a controlling equity interest of 96.6% of the total voting stock of APSI through his ownership of 500,000 Series B Preferred Shares, each of which has voting rights of 1,000 votes per share. Mr. Carnes has the ability, through his ownership of Series B Preferred Shares, to elect directors of his choosing and thus, is able to control the direction of APSI. Mr. Carnes’ interests may diverge from those of the other stockholders and this divergence may have a significant impact on APSI.

They gave Morris 250,000 Preferred B when he was named CEO, but Carnes still the controlling interest.

[wuuuhu]

Thats exactly what it says in the S-1 posted on OTC markets.

Pagre 25/135