Aqua Power Systems Inc. announced that on January 17, 2023, Stephen Carnes, company's President, Treasurer, Secretary and Director, submitted his resignation as President and Treasurer of the Company and the Company's Board of Directors simultaneously elected Joseph Davis to be appointed as the Company's new President and Treasurer. The Company accepted Mr. Carnes's resignation as President and Treasurer simultaneously with Mr. Davis's acceptance of the appointment as President and Treasurer. Mr. Davis was also elected to the Company's Board of Directors on January 17, 2023.

Mr. Carnes shall remain on the Company's Board of Directors and remain the Company's Secretary. Mr. Davis is a Director of Tradition Transportation Group Inc., and Chief Operations Officer at Tradition Transportation Company, LLC, a subsidiary of Tradition. Mr. Davis was a founder of Merica Logistics and served as the CEO of the company from 2015-2019.

Mr. Davis got his start in the transportation industry in 1999 by helping the Evans Equipment Company implement a TMS system. Currently, Mr. Davis oversees all asset operations with the goal of optimizing the process to generate maximum revenue for Tradition Transportation Group Inc. while maintaining the highest safety standards possible.