AveragePenny
2 weeks ago
$SPQS Sports Quest, Inc. (OTC: SPQS) eBike Expansion, Crypto Token Development & Taiwan Software Reverse Takeover
https://www.accessnewswire.com/newsroom/en/blockchain-and-cryptocurrency/sports-quest-inc-otc-spqs-ebike-expansion-crypto-token-development-and-982852
WEST PALM BEACH, FL / ACCESS Newswire / February 12, 2025 / Sports Quest, Inc. (OTC PINK:SPQS) Due to overwhelming inquiries on recent events and yesterday's SEC filing the management is of the opinion that these recent events warrant a further update or FAQ on these and other matters.
FAQ Taiwan takeover. Firstly, it is no secret that the Company has been a target of a control block acquisition (based on our previous OTC filings) by a Taiwanese software and cloud storage company for several months. The situation is very fluid, and management has no further comments to add. Once the process crystallizes further, additional updates will follow. In the meantime, the current management is operating the current business model and current operations as a going concern, regardless of the Taiwan outcome. By that we mean, our strategic expansion in the electric mobility sector, including the targeted acquisition of a Canada-based eBike manufacturer and franchisor; the scaling of its franchise network, and the development of a blockchain-backed digital asset.
eBike Manufacturer and Franchisor SPQS has an agreement in principle to acquire substantially all assets (Asset purchase Bulk Sale) of a well-established eBike manufacturer and established B2B franchisor. This acquisition aims to strengthen SPQS's position in the fast-growing electric mobility sector while providing franchise opportunities to entrepreneurs looking to invest in sustainable and innovative business models.
The Company's assembly operations are located in Vancouver BC Canada, ensuring cost-effective production, with fulfillment centers strategically located in Vancouver, BC, and Miami, FL, to efficiently service North American markets. SPQS plans to expand the existing multi-franchised eBike units and further enhance its footprint in the industry.
Development of a Crypto Token Backed by eBike Assets
To further drive innovation, SPQS is in the process of developing a cryptocurrency token backed by eBike assets. The token will be tradable via an Initial Coin Offering (ICO), providing a unique investment vehicle tied to the growing eBike market. The Company is committed to ensuring compliance with all relevant regulations as it moves forward with this digital asset initiative. Further details will be provided as the project progresses.
"We are excited about the direction in which SPQS is heading. Our expansion into the eBike industry through acquisition and our venture into blockchain technology with an asset-backed token demonstrates our commitment to innovation and growth," said EVP & SPQS Spoke person James Healey. "We will continue to update our shareholders as these initiatives advance."
More updates will follow,
AveragePenny
2 weeks ago
$SPQS Sports Quest, Inc. (OTC: SPQS) Files Form 10 to Become an SEC Reporting Issuer, Outlines eBike Expansion Plans
https://www.accessnewswire.com/newsroom/en/sports-leisure-and-entertainment/sports-quest-inc-otc-spqs-files-form-10-to-become-an-sec-reporting-982838
WEST PALM BEACH, FL / ACCESS Newswire / February 11, 2025 / Sports Quest, Inc. (OTC PINK:SPQS) is pleased to announce that it has officially filed a long-awaited Form 10 with the U.S. Securities and Exchange Commission (SEC) to become a fully reporting issuer. This milestone reflects the Company's dedication to transparency, regulatory compliance, and enhanced corporate governance. Investors will benefit from more detailed and timely financial disclosures, reinforcing confidence in SPQS's long-term strategy.
Strategic Expansion into the eBike Industry In addition to the regulatory milestone, SPQS is in the initial stages of acquiring all assets of an established eBike manufacturer and franchisor. This expansion is poised to bring innovative mobility solutions to the market, leveraging an existing network of multi-unit franchised enterprises. The Company's strategy includes assembly operations in Canada, with fulfillment centers based in Vancouver, BC, (to service the West Coast) and Miami, FL, (for the East Coast customers); ensuring a seamless supply chain for future customers, resellers, and franchisees.
Outlook on Crypto Token Development As part of its forward-thinking initiatives, SPQS is evaluating the development of a cryptocurrency token backed by eBike assets. This potential digital asset aims to enhance investment opportunities within the Company's expanding mobility ecosystem. More details will be announced as the project progresses.
"We believe that becoming an SEC reporting company marks a significant step toward credibility and investor confidence. Our strategic expansion into the eBike industry, along with future blockchain opportunities, reflects our commitment to innovation and long-term growth," said SPQS EVP and spoke person James Healey "We will keep shareholders updated as we move forward with these initiatives."
elks
1 month ago
SportsQuest, Inc. (OTCPINK: SPQS) Announces Corporate Developments and Strategic
Initiatives
January 10, 2025, West Palm Beach, FL – SportsQuest, Inc. (OTCPINK: SPQS) ("the
Company") is pleased to announce a series of significant corporate developments as part of its
ongoing restructuring and growth strategy. The Company is committed to enhancing shareholder
value through strategic initiatives and improved corporate governance.
Corporate Updates:
1. Redomicile to Wyoming: The Company has successfully redomiciled from Delaware to
Wyoming, a move aimed at optimizing its corporate structure and aligning with
shareholder interests.
2. Confirmation from Resident Agent: SportsQuest has received confirmation from its
resident agent regarding the successful completion of the redomiciling process.
3. State SOS Update: This corporate change is expected to be reflected on the Wyoming
Secretary of State’s records shortly.
4. Appointment of Additional Securities Attorney: The Board of Directors has passed a
resolution appointing Jonathan Leinwand as an additional securities attorney. Mr.
Leinwand will serve as the lead securities lawyer, spearheading efforts to return the
Company to fully reporting status with the SEC.
5. OTC Profile Update: The appointment of the new service provider will be updated on
the OTC company profile within the next few business days.
6. Completion of Audit: The Company has completed its audit and anticipates making the
necessary filings with the SEC in the first quarter of 2025.
7. Corporate Restructuring: As previously announced, the Company has been in
discussions with a highly qualified candidate and an operating company. These corporate
changes and restructuring efforts are designed to facilitate the long-anticipated takeover
of the control block by new incoming management and their front office staff.
8. Debt Elimination: The interim management is optimistic that the new cash infusion
from the control block purchaser will enable the Company to eliminate most or all of its
current debt.
9. Potential Name and Symbol Change: In collaboration with the new control block
purchaser, the Company may apply for a new name and symbol. Further details will be
provided in separate, timely filings.
10. Timeline for Completion: The Company is hopeful to complete most of these initiatives
in the first quarter of 2025, with some tasks extending into early Q2.
SportsQuest, Inc. remains dedicated to delivering on its strategic goals and looks forward to
providing further updates as these developments unfold. Follow our corporate website for further
updates.
More updates will be released on a timely basis KKKKKABBBBBOOOOOOOMMMMMM COMING !!!!!!!!!!!!!$$$$$$$$$$$$$$$$$$$