Business
Completed Acquisition Sports Quest, Inc. OTC:SPQS Merger Progress Report and Plan of Action
Completed Acquisition Sports Quest, Inc. OTC:SPQS Merger Progress Report and Plan of Action.
About this update from Sportsquest, Inc.
[{"type":"text","content":"WEST PALM BEACH, FL / ACCESSWIRE / December 10, 2021 / Sports Quest, Inc. (SPQS) https://sports-quest.co Jeff Burns the Company CEO said "We are pleased to report that we closed on the long-anticipated Magnum Innovations deal on Nov. 29, 2021, Magnum Innovations (magnum-innovations.com). We did this deal without disturbing the SPQS share structure nor encumbering SPQS with any sort of debt. The deal was completed through a complicated purchase order and receivables assignment with a very cooperative and existing creditor of Magnum. We immediately sprang into operations. We have several pending purchase orders that are starting to be filled. Moreover, the Company launched a product-only Twitter account @Magnum1stSPQS.Magnum is a well-known and one of the largest distributors within the EnOcean product lines. Magnum adds value to the product and supplies the intelligence portion of the energy-saving solutions. Our revenues are derived from various sources such as App, billing, control, analytics, financing, and providing the sale of excess energy back to the power company. As we reviewed ex-management affairs and pending deals a couple of pending deals stood out for us. A deal of this nature has the potential of being in the several million dollars. One of the first mandates we set for ourselves was to immediately revisit this Magnum Innovations pending deal with a large hotel chain to supply units around the USA and a certain solar carport charging station. There are many moving parts within our organization and industry space. As these deals and or orders crystalize and materialize further, our plans are to release further details in concert with our cooperating partners via separate press releases and through additional corporate filings"In other Company news and events, The Company was denoted as an OTC Current issuer by OTC Markets on about Dec 7, 2021. Whilst there was a delay in obtaining the "current" status by several weeks this was all worked out with various multiple filings. On that note, additionally, the Company filed a "management discussion" filing with OTC on Nov 26 2021 https://www.otcmarkets.com/otcapi/company/financial-report/313427/content Additional new filings with OTC will expand on these projects including a certain Solar Carport joint venture project SPQS forged with the manu...