SPQS OTC DISCLOSURE & NEWS SERVICE
SportsQuest, Inc (OTC: SPQS) Successful in Administrative Hold On Over 1,2 Billion Common Shares Previously Issued
Press Release | 07/29/2022
SportsQuest (OTC:SPQS)www.sports-quest.coThe Company conducted thorough investigation, and able to put the puzzle together regarding certain issued 1,2 Billion shares issued to a number of shareholders. Simply put the ex-management issued these shares over the years without the Company receiving any consideration assets or services it was promised in return.
The Company was successful in placing an administrative hold on these shares with new transfer agent Empire Stock transfer until a law suit is launched to recover these shares and return them to treasury. The Company has retained a New York based barrister Martin Shell ESQ to represent SPQS interests. The Complaint will be filed shortly, most probably in a Federal Court in New York where most of these aforementioned shareholders make their home.
Interim CEOIrina Veselinovicstated: Until we get the situation resolved and all the books and legacy of issuance in order no additional shares of this 1,2 Billion share block will be able to enter the market. We continue to build a beverage and packing business and we have adopted a full transparency model which many of our shareholders have acknowledged. The Company acknowledges the hard work and efforts ofMs.Kathryn Gavinour consultant and advisor in assisting us in landing many contacts and recently signed LOI. These will be all separately announced once they turn into bona fide purchase orders in the next couple of Quarters. We are well under way in assembling our 1stline for production by start of September 2022. Moreover, we have aspirations of acquiring a second line via an auction purchase in August 2022. If successful, that 2ndline should start production by October 2022 by all accounts. We continue our efforts with Pink Australia energy and acquisition, merger and take over discussions with all previously announced targeted candidates, including the return to OTC current rank status. To say that we are excited about our future prospects with the Company would be an understatement.
More updates and filings will follow on a timely basis and on especially on this share claw back progress and process.
SportsQuest, Inc (OTC: SPQS) Successful in Administrative Hold On Over 1,2 Billion Common Shares Previously Issued
Press Release | 07/29/2022
SportsQuest (OTC:SPQS)www.sports-quest.coThe Company conducted thorough investigation, and able to put the puzzle together regarding certain issued 1,2 Billion shares issued to a number of shareholders. Simply put the ex-management issued these shares over the years without the Company receiving any consideration assets or services it was promised in return.
The Company was successful in placing an administrative hold on these shares with new transfer agent Empire Stock transfer until a law suit is launched to recover these shares and return them to treasury. The Company has retained a New York based barrister Martin Shell ESQ to represent SPQS interests. The Complaint will be filed shortly, most probably in a Federal Court in New York where most of these aforementioned shareholders make their home.
Interim CEOIrina Veselinovicstated: Until we get the situation resolved and all the books and legacy of issuance in order no additional shares of this 1,2 Billion share block will be able to enter the market. We continue to build a beverage and packing business and we have adopted a full transparency model which many of our shareholders have acknowledged. The Company acknowledges the hard work and efforts ofMs.Kathryn Gavinour consultant and advisor in assisting us in landing many contacts and recently signed LOI. These will be all separately announced once they turn into bona fide purchase orders in the next couple of Quarters. We are well under way in assembling our 1stline for production by start of September 2022. Moreover, we have aspirations of acquiring a second line via an auction purchase in August 2022. If successful, that 2ndline should start production by October 2022 by all accounts. We continue our efforts with Pink Australia energy and acquisition, merger and take over discussions with all previously announced targeted candidates, including the return to OTC current rank status. To say that we are excited about our future prospects with the Company would be an understatement.
More updates and filings will follow on a timely basis and on especially on this share claw back progress and process.
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