One of the companies to have come into significant focus among investors this week is AAP Inc (OTCMKTS:AAPJ). It is quite likely that the stock may attract the attention this morning and hence, it could be a good idea to take a look into the update provided by the company earlier this week on May 2.
The company announced at the time that it had decided to terminate the agreement it had in place with ExcelRev for operating a business that had declared debt delinquency. The company announced that over the course of the past month it had been involved in talks with regard to the negotiations and due diligence related to a new acquisition.
AAP noted that until the work regarding that particular acquisition is completed, it is going to be focused on its holdings in the privately-owned real estate firm Red Tail Construction. In this regard, it is also necessary to point out that the company also holds an option by the way which it could end up picking up Red Tail Construction in its entirety. It is interesting to note that in 2022 Red Tail is going to be involved in projects worth as much as $15 million. The company is looking to expand as well and hence, it might need a partner like AAP.
In this regard, it may be a good idea to look into what Paul Bakajn, the Chief Executive Officer of AAP stated recently. He said that the company was happy to explore the many opportunities that are coming it’s way. He went on to state that the cancellation of the agreement regarding the debt collection business had been a good move since it was going to allow AAP to shift its focus on opportunities that it believes are better ones.
