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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.
Oceanwide Plaza needs JBZY to raise capital.
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)
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."
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.
JBZY $0 debt & 9.2M OS = Pink Diamond.
All we need is Good Management and a little polishing.
Still holding 2.8% of the OS.
Right now it's worth less than TP paper.
Audited financials would be a blessing. 🤩
As you stated "Can't scam, if it doesn't trade."
Probably the best evidence something is in the works.
I emailed Mr. Norward a week ago, No reply.
Don't know how trading can occur while in Caveat Emptor (No Trading) status.
In order to bring JBZY back to life management needs to pay the WYSOS tax bill.
Here's what we know.
a. Edward Norward Jr. is the new president of JBZY.
b. There is documentation showing him as "Company contact, CFO, Investment" for Tohigh Construction Investment.
c. OceanWide Holdings was a subsidiary of Tohigh Construction Investment.
d. The address used on the WYSOS 2020 amended annual report is the same as Oceanwide Holdings address.
e. Oceanwide Holdings over leverage themselves in real estate and bank loans and were removed from the Shenzhen Stock Exchange.
f. Check Youtube for more info.
Oceanwide Holdings hit bottom in China.
OTC is an opportunity to raise capital and start over.
Let's hope they learned a few lessons along the way.
New name, new symbol, audited financials =😎
Oceanwide Holdings was removed from Shenzhen Stock Exchange and needs cash.
Might be a reason for possible OTC listing.
https://www.yicaiglobal.com/news/debt-stricken-oceanwide-is-first-chinese-developer-to-be-kicked-off-bourse-this-year
"If" new management is connected to China Oceanwide Holdings 😍
https://en.wikipedia.org/wiki/China_Oceanwide_Holdings_Group
JBZY status: Inactive - Administratively Dissolved (Tax)
1st; pay the WYSOS tax bill.
2nd; become current on OTC.
3rd; change the corp name & symbol.
4th; public announcement.
🤩
Not sure who Mr. Norward is, anyone can create a gmail account.
If the WYSOS email address was; EdwardNorward@OceanwideHoldings.com, that would be impressive.
Time will tell, no reason to run a scam yet if nobody can trade JBZY.
Real estate corporations in China are hurting for cash, best case scenario, Oceanwide Holdings using JBZY to access US market.
That would be BIG.
Document shows connection between Eddie, Norward Jr and Tohigh Construction Investment, Llc
https://www.myvisajobs.com/Visa-Sponsor/Tohigh-Construction-Investment/1236463.htm
The address used on the WYSOS document (1101 S. Flower Rd 90017) is identical (with exception of zip) to Oceanwide Plaza
https://toplacondos.com/Oceanwide-Plaza
I Google'd our supposed new president Eddie Norward Jr and found nothing of interest.
Anyone can file a WYSOS doc as we experienced years ago with the false new CEO submission.
Wow! JBZY Under New Management, Update 2/27/24
https://wyobiz.wyo.gov/Business/FilingDetails.aspx?eFNum=217161243108068011203050228075228024036162237117
Greetings to our new president: Mr. Eddie Norward Jr, Los Angeles CA, To High Construction Investment Limited Partnership.
Shareholders can't wait to hear your plans for JBZY. (Pls change the name & symbol)
With $0 debt and 9.3M OS, JBZY is a pink diamond on the OTC, strong leadership and a little polishing we'll return to $$ in no time.
Anyone know what the (CE) means?
JB and ZJMY Holding Company (CE) (JBZY) Quote
Not sure. Never heard of a CEO (sole board member) abandoning a corporation.
With a 9M OS and $0 debt JBZY's value far exceeds $900.
Wang should have sold it to a company looking for a reverse merger onto the OTC.
EVERYONE WOULD HAVE BROKE EVEN.
The CEO abandoned JBZY with 9.3M OS and $0 debt.
Shareholders have legal right to assume control over the corporation.
All it would take is a filing and a small tax payment to WYSOS.
a. Change the name of the corporation.
b. Become current on the OTC.
c. Everyone is 😍
Another 9,900% gain on 18,700 volume.
Yes. Our CEO (Wang Dequn) abandoned JBZY, although it still trades on the OTC.
Therefore current shareholders should inherit control over the corporation.
All it would take is a lawyer and $ to pull off the transition of power.
Up 9,900% on 16,551 Volume = Unlimited Hidden Potential
JBZY could have recovered if Wang sold the corporation.
9.3M OS and $0 debt is a pink diamond in the OTC world.
Under new management, based in the US with audited financials, we should have easily broke even.
There's still a heartbeat, though very weak.
https://ih.advfn.com/stock-market/USOTC/jb-and-zjmy-ce-JBZY/historical/more-historical-data
What it would take to bring JBZY back from the dead.
a. $100 donation to WYSOS for unpaid taxes.
b. Filing updated OTC financial documents. $0.0 net profit for the past 2yrs, not that difficult.
c. A PR announcement, "Under New Management. JBZY is now an AI software company based in California.
d. A $100,000 infusion of capital, the stock price goes for 0 to $1.
e. One Big problem: Dequn Wang/Wang Jinlai never bothered to sell the corporation. :(
Dear Preferred Shareholder; realizing the potential of a 9.3M OS is what you suck at.
a. Change the name and symbol.
b. Become current with WYSOS & OTC.
d. Under New Management, Audited Financial Statement.
e. PR Release: DOLV/JBZY corporation has dissolved all business relationships with Mr. Wang Dequn.
Day-1 of renewed OTC trading;
a. Preferred Shareholder repays creditors, corporation remains debt free.
b. Preferred Shareholder signs a reverse merger contract with a "real company" looking to raise capital by going public on the OTC.
c. Preferred Shareholder and long-term investors profit.
d. Everyone is HAPPY :)
A Bullish 177 shares!
If only someone would/could make a $100 buy JBZY would explode 10,000%+
Lubberboy! 1st posted msg of 2023.
That's how quiet it's been.
Haven't heard anything about the Feds case, or, our missing CEO.
Unless a miracle happens, JBZY remains in endless sleep.
JBZY historical shows 76,728 shares traded in 2022.
How are these people trading? Why are these people trading?
The $ amount isn't worth the trouble unless someone is testing the PPS.
My guess; Wang Dequn is in permanent hiding after the fake passport fiasco.
The numerous Chinese lawsuits have forced him to handover JBZY preferred shares to creditors. Still hoping something/anything happens in 2023.
All it took to drive the PPS up 48,000% was $266.85
Imagine if the buyer had invested $10,000.
How high would the PPS have gone?
Shares are scarce because Etrade and the other exchanges have common shares under lock&key.
This is the second time we've seen a huge PPS swing lasting a couple days.
Each time a few dollars moves the PPS beyond a penny.
If the CEO/Preferred Shareholder spent $10,000 on layers and accounts JBZY could become current by 2023.
As long as the OS remains unchanged JBZY retains value until the fat lady sings ;0
.
Today proves JBZY has huge potential if only the CEO would wake-up!
You are without doubt the only person I know that wants to buy JBZY.
None of the large exchanges buy/sell JBZY.
JBZY remains in a coma until WYSOS says "de-registered for failure to pay a $100 tax bill."
Or, Wang sells it and we all get rich.
The IH followers are probably curious onlookers.
We're all bag holders at this point, can't buy or sell.
Given the speed at which the PPS jumps & declines I believe the AS is a small number.
Lots of promise, but nobody at the helm, JBZY is a ghost ship.
If only Wang had sold or given JBZY away we'd have a heartbeat.
A little bit of happiness, years of silence. Wake-up Wang!!!
A 500,000% jump and nobody took notice.
The FINRA name change was the only good news this stock ever had.
Everything else is smoke & mirrors.
I’ve cursed our CEO, even offered to buy JBZY, in an attempt to get the preferred shareholder to reveal themself.
Response…utter silence, outer space speaks louder than our CEO.
WTF happened?
a. CEO is arrested at the Penang Intl airport for using a fake passport.
b. CEO turns witness for the prosecution to avoid jail time in Malaysia.
c. CEO gets deported to Hong Kong.
d. CEO sued by individuals claiming they’re owed money.
e. CEO disappears. PFA dead, EV dead, battery manufacturing dead, cell phone dead, robots dead, satellites dead, entertainment production dead, restaurants dead.
f. The only businesses that survive are a hot springs hotel and bottled water business. Neither of which was ever part of JBZY.
JBZY exists as a legal entity for as long as WYSOS patience regarding unpaid taxes ($100) permits. When WYSOS pulls the plug JBZY is also dead.
The potential for JBZY explosive growth has already been demonstrated by a recent 500,000% jump on a $100 buy order.
It’s dumbfounding, nobody (are you listening WallStreetBets) has taken notice JBZY is waiting for someone to lite the fuse. With $0 debt & 9.3M OS, a modest buy order and the PPS is back to $’s
.
To those on the inside who can actually buy/sell JBZY, wake the hell up!! You’re sitting on TNT, all you have to do is lite the fuse with a $200 buy order.
Maybe then “WallStreetBets” takes notice.