Papoulis and Tapaktsoglou acquired 82.53% of stake in Pioneer Marine Inc. (OTCNO:PNRM) on March 14, 2022. Effective March 8, 2022, Joseph Tansey, Bradley Dietz and Erol Sarikaya resigned as members of the Board of Directors of Pioneer Marine. Jim Papoulis replaced Joseph Tansey in the Board of Directors of Pioneer Marine, and the other two positions were eliminated.

Papoulis and Tapaktsoglou completed the acquisition of 82.53% of stake in Pioneer Marine Inc. (OTCNO:PNRM) on March 14, 2022.