American Marconi Wireless News - Sports Quest, Inc. (OTC: SPQS) eBike Expansion, Crypto Token Development & Taiwan Software Reverse Takeover

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,

About Sports Quest, Inc.:

Sports and entertainment Company. The Company developed and maintained a franchise portal for both B2B and B2C front and back-office end users known in the industry as iefranchise.com. The Company is in the process of a joint venture and or amalgamation with a Canadian based e Bike manufacturer distributor and a franchisor with multiple active outlets. The JV is aiming to include the development of a utility crypto token see www.ride2earn.com for full details.

Disclosure:

Information in this news release may contain statements about future expectations, plans, prospects or performance of SPQS that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be", "expects", "may affect", "believed", "estimate", "project" and similar words and phrases are intended to identify such forward-looking statements. SPQS cautions you that any forward-looking information provided by or on behalf of SPQS is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind SPQS's actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond SPQS's control. In addition to those discussed in SPQS's press releases, public filings, and statements by SPQS's management, including, but not limited to, SPQS's estimate of the sufficiency of its existing capital resources, SPQS's ability to raise additional capital to fund future operations, SPQS's ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match SPQS's capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. SPQS does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events

SPQS Management

Contact info:

Twitter @SpqsOtc
Phone: +1 561 631 9221
Email: [email protected]
Web: https://sports-quest.co

SOURCE: SportsQuest, Inc.

View the original press release on ACCESS Newswire

B.Finley--AMWN