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Posted On: 02/12/2025 8:47:34 AM
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$SPQS Sports Quest, Inc. (OTC: SPQS) eBike Expansion, Crypto Token Development & Taiwan Software Reverse Takeover
https://www.accessnewswire.com/newsroom/en/bl...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,
https://www.accessnewswire.com/newsroom/en/bl...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,
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