Replies to post #11141 on Aqua Power Systems Inc (APSI)

[Roofus]

Well, the acquisition was already officially completed per SEC filings.

Super 8k back at the turn of the year from 2022 to 2023.

So the whole thing is a mess.
It’s possible Carnes may win and the Evans team will attempt to cry foul for years. But regardless, there is now lack of leadership going on, and that’s not a good thing for the company as they all attempt to sue one another over who should own what.

[samson8]

Again, its what has been said all along. Carnes/Morris signed a contract to acquire Tradition for $28 m based on a defined repayment plan of that $28m. To date, it sounds like none of that has been re-payed so they are in default of contract. Sounds like they also contrived up a reason to terminate the prior owners so they wouldnt need to re-pay the promissary note which is what the 2nd lawsuit is about. I personally dont think they ever intended on repaying that amount.

This will be battled out for long to come

[Roofus]

The “catalyst” that came out today ….

Caused the stock to go Green.