Asia Properties, Inc.
ASPZ
Other OTC0.04
USD
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Asia Properties, Inc.
ASPZ
(Other OTC)
Recent
price
0.04
P/E
ratio
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div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Asia Properties, Inc. (ASPZ) operates as a development-stage company focused on advanced clean energy technologies through its acquisition of hydrogen-powered engine solutions; it previously pursued gold mining claims and blockchain-integrated assets but has pivoted to hydrogen propulsion systems for heavy-duty applications. The company offers the HyOrc engine technology, a zero-emission pulse-combustion hydrogen powertrain targeting heavy-duty trucks, trains, and ships; it projects significant revenue potential from this platform, with a pilot test scheduled for 40 trucks in the first quarter of 2025. Principal products and services encompass hydrogen engine development and commercialization partnerships, including integration with global engine producers serving markets such as Daimler, FIAT, IVECO, and Volvo. Incorporated in Nevada on April 6, 1998, and redomiciled to Wyoming in 2019, Asia Properties maintains its headquarters at 1621 Central Avenue, Cheyenne, Wyoming; it trades on the OTC Pink market with 72,819,362 common shares outstanding as of June 30, 2024. The company wholly owns Asia Gold LLC, an Alaska-based subsidiary formed in 2021 for prior gold mining pursuits, including due diligence on Alaskan leases and acquisition of the Bering Sea Clinker gold nugget for NFT securitization. It operates in the clean energy and heavy transport sectors, with target customers in freight transportation and industrial applications across North America and global markets. Recent strategic shifts include the completion of a $72 million share-for-share acquisition of Houston-based SRE Power Inc. in August 2024, valued at closing and incorporating the developer's HyOrc technology; this followed a June 2024 reorganization agreement initially set at $65.5 million for 655 million restricted shares. In October 2024, Asia Properties signed a key development agreement with RJ Group, a major engine component supplier, to deploy HyOrc powertrains in heavy trucks. The company engaged a PCAOB auditor in May 2024 for 2018-2021 financials to support SEC registration tied to this acquisition, plans a name change to HyOrc Corporation, and reports no material revenue or operations as of Q2 2024 while advancing commercialization.
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