JB and ZJMY Holding Co (JBZY)

[Sonar]

JBZY Market Cap $9.30
🤑

[Sonar]

The only document related to Mr Norward and Oceanwide Plaza:

https://www.myvisajobs.com/Visa-Sponsor/Tohigh-Construction-Investment/1236463.htm

Relationship between Mr Norward and ESSGCorp.net


2019 documents showing Mr Norward acquiring shares in defunct companies.

https://www.sec.gov/Archives/edgar/data/835589/000129904519000022/xslF345X03/primary_doc.xml

https://www.sec.gov/Archives/edgar/data/1773326/000177626919000004/xslF345X03/primary_doc.xml

1001 Wilshire Blvd address: Is a “rent an office/virtual office” building:

www.1001Wilshire.com

[netmoney1999]

Nothing but a way for the creditors to try to make sure any bids are above 500M.
Wouldn't be surprised if thos 'undisclosed buyer' is a front put up by those creditors on their own behalf.

The buyer, identified as a Los Angeles-based developer, would serve as a stalking horse bidder, using its bid to set a baseline for other would-be buyers. This strategy is employed in the sale of bankrupt companies' assets so they don’t get lowball offers.

[Sonar]

JBZY lottery ticket
The odds are huge, but, you can't win if you don't play.

"A bidder has emerged for the trio of graffiti-splattered towers that make up Oceanwide Plaza in Downtown Los Angeles. Attorneys representing the building's ownership in bankruptcy court are "in advanced talks" with an undisclosed buyer, The Wall Street Journal reported, citing anonymous sources.
Oceanwide Plaza’s secret bidder would pay approximately $500M to take ownership if no higher bidders come forward by the deadline for bankruptcy bids in mid-August or at a Sept. 17 auction, according to the WSJ. The developers of Oceanwide Plaza estimate they spent more than $1B building the project.
The buyer, identified as a Los Angeles-based developer, would serve as a stalking horse bidder, using its bid to set a baseline for other would-be buyers. This strategy is employed in the sale of bankrupt companies' assets so they don’t get lowball offers.
Creditors on the project earlier this year filed an involuntary bankruptcy petition against the project's owners to force a sale of the property.
Bankruptcy court filings indicate representatives for China Oceanwide Holdings Group, the parent of the entity that developed the project, had "several other potential bidders" that it was considering for the role of stalking horse bidder as of July 16.
Completion of the project would probably require another $800M, a bankruptcy specialist working on the property told the WSJ.
The project was planned with 504 residences, a 184-room hotel and 153K SF of retail and restaurants.
"While this building has become a very visible symbol of the challenges we’re facing, it’s a superficial one," Downtown Los Angeles Alliance CEO Suzanne Holley told the WSJ.
Holley pointed to Downtown’s residential occupancy, now above 90%, and foot traffic levels that have nearly reached prepandemic levels.
"Under the current conditions, this project is well-poised to be a very successful development,"

[rookinvestor]

According to WSJ….”mystery company”set to buy graffitti towers……Let’s Go!!!!!

[Sonar]

You are the company that you keep.
Mr. Norward,
Recommended reading; you want to avoid the Defendants list.

https://www.sec.gov/files/litigation/complaints/2021/comp25207.pdf

5-minutes of Google research regarding your recent WYSOS filing.
a. essgcorp.net = Striper Energy Inc.

https://www.sec.gov/files/litigation/apdocuments/3-17250-event-6.pdf

b. Legal Counsel = Mustafa David Sayid

https://caselaw.findlaw.com/court/ny-supreme-court-appellate-division/116109863.html.

c. Investors Relations Consultant = Edward J. da Parma

https://www.sec.gov/divisions/marketreg/mr-noaction/clarkstr082003.htm.

d. Edward Norward Jr = WYSOS 2020 Amendment.

[CorsairGriffin29]

Still holding many shares.. whatever happens happens

[dude010101]

LOL! Anything that is lucrative will attract scammers looking for easy and quick money.
Very true! Without all the filings by spending money for accountant and lawyer, there is not much to move forward with. Hopefully we get some legitimate filings.

[Sonar]

JBZY attracts scammers like bees to honey.
But...they still have to become OTC current to Pump & Dump.

[dude010101]

I hope they don't screw this up for everyone here. This still has a chance to turn into a custodian play being a clean shell with great share structure.

[Sonar]

Mr Norward, recommend a little due diligence prior to selecting a legal counsel.
Mustafa David Sayid

https://caselaw.findlaw.com/court/ny-supreme-court-appellate-division/116109863.html

In November 2022, the Attorney Grievance Committee (AGC) commenced this disciplinary proceeding with a petition of charges, alleging professional misconduct in violation of the Rules of Professional Conduct (22 NYCRR 1200.0) based on respondent's knowing engagement in a fraudulent scheme to effect illegal sales of stock.

[Sonar]

Good news / Bad news.
Good News
1001 Wilshire Blvd, Los Angeles, CA. is a real office building.
308 Spring Lane, Halworth, NJ. is a real house.
43855 West Elizabeth Ave, Maricopa, AZ. is a real house.

Bad News
Google "essgcorp.net"
a. Striper Energy Inc. (Suspended by SEC.)
b. DIVISION OF ENFORCEMENT'S OPPOSITION
BRIEF IN THE MATTER OF STRIPER ENERGY, INC.

https://www.sec.gov/files/litigation/apdocuments/3-17250-event-6.pdf

c. Same legal consultant: edaparma.
d. Same legal counsel: M. Sayid

[rookinvestor]

Looks like a WYBIZ update…..

[dude010101]

I think everything was legit (call me crazy) when originally started. Unfortunately Wang got into major legal trouble that took down his entire business. Han tried to take over and couldn't do it legally. I don't expect the original management to do anything with this shell anymore. Most likely abandoned and it is clean. There are some folks who take over abandoned shells through court order. Only if that happens and they sell it to a company for a reverse merger, we will see life back here and that will be a legit take-over. Then the filings and bringing back to active trading etc. I am certainly not an expert in any of these but that is my guess. I accidentally got into OTC trading 10 years back and got very lucky in my first year. Made a lot of money and poured all of it into this one stock and then lost it all here. Easy come, easy go, I guess. Since then I didn't do anything with OTC stocks and if this comes back to life, I will be happy to jump back into trading on OTC since it is so much fun. And I am on the verge of retirement and it will be a perfect hobby for me.
PS: I will ask around and see if anyone can give me contacts for agencies who sell empty shells like this. They will have to spend some money, goto court, claim the shell and get judge ruling in favor of them. And then they can sell it for a profit. I am pretty sure there are agencies who do this.

[Sonar]

Nothing makes sense.
Why file a fraudulent amendment, nothing to be gained unless the stock trades on OTC.
Why didn't Dequn Wang or Lin Tianting sell JBZY? It's worth far more than $930.
Never seen Chinese walk away from "free" money until now.
The WYSOS tax bill is probably less than $500, JBZY never made a profit.
The legal cost to become OTC current, change name & symbol, easily offset by a jump in PPS.
$0 Debt & 9.3M OS, you could sell caffeine bottled water and the PPS would jump to $1.

[dude010101]

So another fake amendment to SOS? Huh! I got reasonable amount of shares (not as much as Sonar or Manti but still a good amount) just sitting worthless right now. Hope something good happens here one day. That can return everything I lost here.

[netmoney1999]

Who knows - maybe just clearing paperwork up from all of the legal proceedings and so the lawsuit and auction of the defunct properties can go through.

[Sonar]

What's your interpretation on why Mr Norward filed the 2020 Amendment?

[netmoney1999]

Nothing left to scam... that was done years ago.

[Sonar]

Can't run a scam with 0 volume.
My guess; Mr Norward will ghost shareholders just like the previous 2 presidents.

[netmoney1999]

Not sure what you're looking for... but you're not going to hear back from any of those people. Nobody is there. Anything related to China or any supposed holders is left abandoned just like those building that sit rotting and will cost more to fix than they're worth now.

[Sonar]

Email to Mr Norward.

[rookinvestor]

Graffiti Towers is set to be auctioned in Sept….400,000,000 in debt……apparently not related to JBZY

[Sonar]

Keep an eye on WYSOS.
The first step toward redemption; return JBZY to Active status.
Mr Norward mentioned "I'll address the State Wyoming."

[netmoney1999]

Except its on the Expert Market and is restricted from trading in the US

[Sonar]

I will "gladly" buy every worthless JBZY share @ the current .0001 PPS.
Pls contact me if interested.

[netmoney1999]

Keep dreaming. This thing is dead and abandoned Chinese garbage. Nobody would want to touch it with the wysos mess and their abandoned property development in CA. Isn't there a lawsuit still pending for creditors to try to get some of their money back from the building that was left incompleted out there?

[Sonar]

Unfortunately, Mr. Wang DeQun and Lin Tianting walked away from JBZY without ever making a public statement to loyal shareholders.
As long as JBZY debt remains $0, and the OS remains 9.3M, the corporation retains value far above $930.
The .0001 share price is a joke given trading has been suspended by Etrade and others.
The WYSOS tax bill (JBZY never produced a profit) is likely less than $500.
Steps to recovery:
a. Pay the WYSOS tax bill, return JBZY to Active corporation status.
b. Update the OTC filings to become current.
c. Change the name and symbol of the corporation.
The legal fees for the above steps would easily offset by the rise in PPS.
Announce a partnership with a Hollywood celebrity to sell their personal brand of tequila/pot/clothes and were back to $$.
Everyone is 😍🤩🥰.

[Sonar]

I sent Lin a copy of the 2020 amendment.
Not expecting a reply.

[rookinvestor]

What about [e-mail]. ?

[Sonar]

Dear Lin Tianting,
Remember that EV Auto company, Battery Manufacture, Battery Swap Station, Bottled Water Producer, Entertainment Conglomerate, Condominium Real Estate, Cell Phone Manufacture, and Crypto Currency company called JB and ZJMY Holding Co?
The one you were/are President of.
Mr Eddie Norward Jr would like to buy it. Wake-up and make some $$

[Sonar]

JBZY class reunion.

[rookinvestor]

Oravec? If he’s still around. Not sure how someone takes over WYBIZ but not OTC. beyond a rook’s knowledge.

[SINCERELY2]

Anyone know what the process is to take over the ticker if no contact can be made from China?

[netmoney1999]

I don't think you're going to get a reply from anyone in China... and thats assuming that somebody over there is still actively involved with this. Seems more likely that anyone on that side just abandoned it and ran.

[Sonar]

If anyone has an email or ph# for a JBZY associate in China, pls forward to Eddie Norward.
Mr. Norward's email address is located in the 2020 WYSOS amendment.
He tried but failed to receive a reply.
The sooner JBZY becomes current the sooner we start seeing trades, "hopefully" with honest management and audited financials.

[Sonar]

Email to Mr. Norward.
"Thank you for your reply.
As I'm sure you are aware, JBZY has a very small 9.3M OS and $0 debt making it a pink diamond on the OTC.
For the past several years JBZY has been sitting on the shelves gathering dust instead of making money.
Wang DeQun's Malaysian passport fiasco and his failure to sell JBZY did a great disservice to loyal shareholders.
My advice: Pay the delinquent WYSOS taxes and return the corporation to Active status. Failure to do so will cause JBZY to be permanently removed from the OTC."

[Sonar]

Received email reply fm Eddie Norward Jr.
I asked about his intentions for JBZY.
Reply:
"___, it's filed here in California as a branch and last email to the Chinese executive went unanswered looking to get sponsored for series 7, qualified with SIE, Series 63 looking to growth through acquisition."

[rookinvestor]

There is a JBZY venture fund also listed as an entity on WY. Doesn’t seem to be related.

[Sonar]

My concern with the WYSOS 2020 amendment.
a. President: "Eddie Norward, Los Angeles" = Small time coffee shop & music business owner.
b. Business address: Abandoned building (Oceanwide Plaza) was never used as an office.
c. Email address: Tohigh Construction Investment Lp does not exist. The previous name was Tohigh Construction Investment LLC.
d. Real businessmen have email servers; Eddie.Norward@business-name
e. Taintin Lin's address is incomplete: Doesn't list the office building.
Nothing about the WYSOS document looks professional, even the signature looks childish.

[netmoney1999]

Sounds like a total cluster f**k. The China company isn't going to cover the debtors and the property if sold/auctioned off isn't worth enough to cover the debt either.

And yes you can certainly scam with the stock not tradeable in the US... setting up the pump in advance and getting pumpers active on the board with overly optimistic and slanted 'news'.

[rookinvestor]

Bloomberg ran a story that Graffitti Towers is for sale. Seems to be related to SONAR’s info….apparently goal is to get it up and running before Olympics

[rookinvestor]

Maybe they rebrand the development and thus go,public on the OTC.i assume, since there is pending litigation, it’s going to be awhile.

[Sonar]

Latest news regarding Oceanwide Plaza.
Our new President (if he exists) remains silent, no reply to emails.
Can't run a scam if you can't trade JBZY.

https://therealdeal.com/la/2024/03/20/creditors-for-la-eyesore-oceanwide-plaza-seek-new-appraisal/

[Sonar]

Oceanwide Plaza needs JBZY to raise capital.

https://www.youtube.com/shorts/zuogdsyIe60?feature=share

[Sonar]

New Oceanwide Plaza LLC bankruptcy dates.

On February 13, 2024 (the "Petition Date"), petitioning creditors Lendlease (US) Construction Inc., Standard Drywall, Inc., Star Hardware, Inc., Woodbridge Glass Inc., and Mitsubishi Electric US, Inc. (together, the “Petitioning Creditors”) filed the Involuntary Petition for relief under Chapter 11 of the United States Bankruptcy Code against Oceanwide Plaza, LLC (the "Alleged Debtor").

The Debtor's bankruptcy case is pending under Case No. 24-11057 before the Honorable Deborah J. Saltzman in the United States Bankruptcy Court for the Central District of California (the "Bankruptcy Court"). On March 8, 2024, the Alleged Debtor requested that the Bankruptcy Court enter an Order to Allow the Alleged Debtor to commence its Chapter 11 case as a Voluntary Proceeding and commence operation as a Debtor-In-Possession.

Case No. Debtor Name
24-11057 Oceanwide Plaza, LLC

Meeting of Creditors
April 23, 2024
(09:00 AM PT)

Hearing
April 25, 2024
(02:00 PM PT)

Omnibus Hearing
June 11, 2024
(01:00 PM PT)

[Sonar]

The case is set for a hearing on March 28.

"Lendlease and four other contractors filed a petition against Oceanwide Plaza LLC in the U.S. Bankruptcy Court, claiming they haven’t received payment for their contributions to the project, Bisnow reported. The move follows Oceanwide Holdings’ admission of financial difficulties more than four years ago, prompting Lendlease to view the legal action as the only means to secure compensation.

With the petition, Lendlease aims to compel the court to appoint a trustee who will oversee the sale of the Oceanwide Plaza property, effectively ending the protracted deadlock that has plagued the site for years. The goal, as stated by Lendlease, is to allow the unfinished project to move forward for the benefit of the local community.

The case is set for a hearing on March 28, where creditors are expected to argue that they have exhausted other avenues for compensation. The proceedings will require Oceanwide Plaza LLC to disclose information about its assets and liabilities, offering a comprehensive understanding of the company’s financial standing and why these resources haven’t been utilized to settle debts."

[Manti]

The most positive outcome would be for Oceanwide to go through with the bankruptcy and clear the unsupportable debt they incurred.

Then they can reorganize the profitable portions of the business under the new shell. They were doing ok before they expanded into other areas.

[Sonar]

As is the norm, nothing makes sense.
a. Google Eddie Norward Jr; points to an individual associated with numerous unsuccessful small businesses.
b. WYSOS address belongs to Oceanwide Plaza: "A broke Chinese real-estate developer left Los Angeles with empty, graffiti-covered towers that could cost billions to finish. A Chinese firm started to build a massive tower plaza in Los Angeles but ran out of funds in 2019. The Oceanwide Plaza towers are now mainly used by graffiti artists and BASE jumpers."
c. "L.A. OKs $3.8 million to clean up and secure Oceanwide Plaza."
d. "A Bermuda court has ordered the liquidation of a Chinese development firm whose subsidiary sank $1.1 billion into an uncompleted hotel, condo and retail project in Downtown Los Angeles. The Caribbean court appointed liquidators of Beijing-based China Oceanwide Holdings, whose Oceanwide Holdings didn’t complete the three-building Oceanwide Plaza at Figueroa, Flower, 11th and 12th streets in South Park."

Time will tell; the 2020 amendment is either a Scam, Joke, or an attempt to raise capital for a failing real-estate venture.

[Samiam7]

Very glad to see a change