Do they have a valid location in RI to park bus(es) overnight? Without a business address I don't think any insurance company would register your vehicle, so they would have to use their NH address. Generally the folks in NH get cranky about out-of-staters taking advantage and driving up their insurance costs, and MA officials get cranky when they don't get their "excise tax". This is really unimportant until they actually start service. In MA, I think you can avoid MA sales tax on vehicles if you own & register them in another state for at least six months. Then you can "transfer" them to MA. I don't know anything about RI motor vehicle laws.
Buses are a great way to prove there is demand between PVD-Woonsocket-WOR, or create a market over say ten years. Is there demand? Is there existing service? Is parking in PVD expensive? Parking in WOR wasn't too expensive in the recent past, probably will be expensive soon though. Parking in Woonsocket is probably abundant. I thought BSRR was supposed to be faster at rush hour, bus service won't do that trick.