Ryan Schadel's Blog
Statement From $AFPW CEO 3/18/2018
Updated on March 19, 2018 By Ryan Schadel 2 Comments
There has been much speculation surrounding $AFPW over the last week or so. This speculation started when I posted to my twitter (@CRyanSchadel) that the decision was made to seek out a reverse merger candidate for $AFPW. I subsequently posted a number of updates regarding the plans for $AFPW. Of course, certain people assumed certain things and began to draw conclusions that ultimately resulted in a large amount of volume coming into $AFPW stock.
Before I go any further, I feel it is important for all to understand MY motivations. When the former CEO of $AFPW passed away unexpectedly in December 2016, I found myself exposed to unanticipated risk. Months prior, I had agreed to sell certain assets I controlled to $AFPW. In doing so, $AFPW became indebted to Labor SMART, Inc. Additionally, $AFPW lacked the infrastructure, insurance, systems and processes to operate the assets it purchased, which left the newly acquired assets at risk of decay and devaluation. Lastly, Labor SMART, Inc. also had an equity interest in the success of $AFPW, more-so the assets it sold but, nonetheless, the equity interest was in the form of common shares purchased in the open market combined with convertible preferred shares received in the asset sale.
This was supposed to be a nice short and sweet deal for Labor SMART, Inc. We’d sell a few offices and make some easy money on the work we had done to get those offices profitable. We’d help $AFPW get some growth and expansion going and we would get another payday with the equity position we took.
As everyone knows by now, it hasn’t worked out that way. To preserve the value of the assets that were sold and the value of the substantial equity position I now controlled in $AFPW, the only solution was to seek a takeover. So I did. Initially I thought it would be a cool project to turn $AFPW into a powerhouse holding company with cash flowing businesses and a growing asset base.
If not for a health issue, I may have succeeded. Nonetheless, here we are a year later. Times up. I need to monetize Labor SMART’s position and get back to what I was working on before the death of $AFPW’s prior CEO. As CEO of $AFPW I am obligated to put the company in the best hands possible with the best interest of the shareholders in mind, and keeping in mind that Labor SMART, Inc. is a very large shareholder. I will get the very best deal I possibly can for all $AFPW shareholders.
Back to the speculation. I received several inquiries in the days after I posted on Twitter that $AFPW was seeking a reverse merger candidate. One of those candidates in particular (I’ll call them Candidate 1), I found very intriguing. Not only did this company have what I believe could be an interesting opportunity, but also a seemingly vibrant following on social media. I find this to be an added bonus to the shareholders of $AFPW and as it is my job to get them the best situation possible, agreed to have a conference call with major stakeholders. This call resulted in an NDA being sent from the candidate to me on March 8, 2018, which I then executed and returned to the Co-CEO’s of Candidate 1.
For a period of 5 days or so, I rejected any conversations with any other potential candidates. I announced on Twitter yesterday (3/17/2018) that I was reopening up conversations with other candidates. This in no way should be interpreted as my lack of interest in doing a deal with Candidate 1. I’ve given ample time to see if we could get an LOI in place and we just aren’t there yet. As much as I want to just do a deal with Candidate 1, my obligation is to $AFPW shareholders and I would be doing them a disservice by continuing to reject new conversations with potential suitors.
I am still under an NDA with Candidate 1. I could probably release details about who they are without actually violating the NDA, just to prove who they are or “pump” $AFPW stock, but that doesn’t get a deal done, which is all I care about. I can’t sell $AFPW stock at the moment. Labor SMART, Inc. can’t sell $AFPW stock at the moment. If the stock goes up or down, it makes no difference to me. It was at no bid when I took over. If I get $AFPW shareholders anything more than that I’ve done my job (pretty low bar).
I will work tirelessly to get us all a good deal. The volume and the price of the stock does not affect that. Anyone who asserts that I’m pumping to dump shares is either just mistaken or attempting to manipulate others actions by making an intentionally false statement and should be reported to the SEC for such.
Happy Trading and Good Luck.
source
http://www.ryanschadel.com/?p=56
Statement From $AFPW CEO 3/18/2018
Updated on March 19, 2018 By Ryan Schadel 2 Comments
There has been much speculation surrounding $AFPW over the last week or so. This speculation started when I posted to my twitter (@CRyanSchadel) that the decision was made to seek out a reverse merger candidate for $AFPW. I subsequently posted a number of updates regarding the plans for $AFPW. Of course, certain people assumed certain things and began to draw conclusions that ultimately resulted in a large amount of volume coming into $AFPW stock.
Before I go any further, I feel it is important for all to understand MY motivations. When the former CEO of $AFPW passed away unexpectedly in December 2016, I found myself exposed to unanticipated risk. Months prior, I had agreed to sell certain assets I controlled to $AFPW. In doing so, $AFPW became indebted to Labor SMART, Inc. Additionally, $AFPW lacked the infrastructure, insurance, systems and processes to operate the assets it purchased, which left the newly acquired assets at risk of decay and devaluation. Lastly, Labor SMART, Inc. also had an equity interest in the success of $AFPW, more-so the assets it sold but, nonetheless, the equity interest was in the form of common shares purchased in the open market combined with convertible preferred shares received in the asset sale.
This was supposed to be a nice short and sweet deal for Labor SMART, Inc. We’d sell a few offices and make some easy money on the work we had done to get those offices profitable. We’d help $AFPW get some growth and expansion going and we would get another payday with the equity position we took.
As everyone knows by now, it hasn’t worked out that way. To preserve the value of the assets that were sold and the value of the substantial equity position I now controlled in $AFPW, the only solution was to seek a takeover. So I did. Initially I thought it would be a cool project to turn $AFPW into a powerhouse holding company with cash flowing businesses and a growing asset base.
If not for a health issue, I may have succeeded. Nonetheless, here we are a year later. Times up. I need to monetize Labor SMART’s position and get back to what I was working on before the death of $AFPW’s prior CEO. As CEO of $AFPW I am obligated to put the company in the best hands possible with the best interest of the shareholders in mind, and keeping in mind that Labor SMART, Inc. is a very large shareholder. I will get the very best deal I possibly can for all $AFPW shareholders.
Back to the speculation. I received several inquiries in the days after I posted on Twitter that $AFPW was seeking a reverse merger candidate. One of those candidates in particular (I’ll call them Candidate 1), I found very intriguing. Not only did this company have what I believe could be an interesting opportunity, but also a seemingly vibrant following on social media. I find this to be an added bonus to the shareholders of $AFPW and as it is my job to get them the best situation possible, agreed to have a conference call with major stakeholders. This call resulted in an NDA being sent from the candidate to me on March 8, 2018, which I then executed and returned to the Co-CEO’s of Candidate 1.
For a period of 5 days or so, I rejected any conversations with any other potential candidates. I announced on Twitter yesterday (3/17/2018) that I was reopening up conversations with other candidates. This in no way should be interpreted as my lack of interest in doing a deal with Candidate 1. I’ve given ample time to see if we could get an LOI in place and we just aren’t there yet. As much as I want to just do a deal with Candidate 1, my obligation is to $AFPW shareholders and I would be doing them a disservice by continuing to reject new conversations with potential suitors.
I am still under an NDA with Candidate 1. I could probably release details about who they are without actually violating the NDA, just to prove who they are or “pump” $AFPW stock, but that doesn’t get a deal done, which is all I care about. I can’t sell $AFPW stock at the moment. Labor SMART, Inc. can’t sell $AFPW stock at the moment. If the stock goes up or down, it makes no difference to me. It was at no bid when I took over. If I get $AFPW shareholders anything more than that I’ve done my job (pretty low bar).
I will work tirelessly to get us all a good deal. The volume and the price of the stock does not affect that. Anyone who asserts that I’m pumping to dump shares is either just mistaken or attempting to manipulate others actions by making an intentionally false statement and should be reported to the SEC for such.
Happy Trading and Good Luck.
source
http://www.ryanschadel.com/?p=56
