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That is a very good question and one I have wrestled with since the beginning. That question was possibly my first post on this board.
I am torn between the motivation and risk of the principles versus the undeniable lack of verifiable and conflicting information provided by the company.
OK... Answer me this one question without any kind of deflection. I want an straight honest answer.
How will the primary player in the LNG arm be able to drill and produce wells when they are not an approved operator with the state? That means they have no wells and no production. No gas =no LNG.
If I'm a basher, does dancing around my questions with no answers make you a pumper?
So filing APRA requests, making phone calls and sending emails to the company, doing public records research and pursing through financial information are all drivel? hhmm interesting...
"By the time everything is verified it will be .05+."
Hmmm ...is that speculation? I thought that was bad...
To be clear,
I have Zero interest in saving you. I presume you are an adult and are free to do what you wish. My posts are real questions. If asking questions makes one a clown, I question how you ever made those gazillion dollars investing.
Why are there no salaries? Why is Kerogen not a registered oil and gas well operator in Pennsylvania? Why did the company release a PR that stated. "JP 3E Holdings, Inc. Receives $23 Million, Purchasing Kokomo, Indiana Harmony Villas" when Kokomo, the State of Indiana, and eventually SPOOZ acknowledged that never happened. I know most of you can function on blind faith, but I am not wired that way. I need corroborating evidence before I'll accept things as fact. SPOOZ is frustrating as they seem to purposely make it hard to verify facts.
I see, So the fact that the LNG arm of this enterprise has no wells and is not even registered as an oil and gas operator in the State of Pennsylvania is considered redundant and speculation? ( I provided the PA DEP website link to prove my point or for others to point out if I had made an error)
I guess taking the company's word is enough research in your rose colored world. Healthy skepticism is not the same as bashing. However, unfounded "pie in the sky" posts seem more duck like to me.
I found this Kerogen, but it is in Ohio. I don't believe this is the one associated with Spooz or Mark Thompson
https://www.shalexp.com/kerogen-resources
I still have not found that Kerogen is registered or has any wells or permits in Pennsylvania.
I found a "Mid-East Oil Company" associated with Mark Thompson.
It also appears the Lithium in frac water is a new discovery and there are no facilities set up at this time to extract it.
This probably will be considered "subtle" bashing, however, I'm trying to verify all information.
Does Kerogen operate wells in other states other than Pennsylvania? Do they possibly own another company that operates their wells? I vaguely remember someone saying Kerogen had two producing wells. I cannot find Kerogen listed as a registered operator in Pennsylvania
https://www.shalexp.com/pennsylvania/companies?page=4
https://greenport.pa.gov/ReportExtracts/OG/OilGasWellInventoryReport.
Also, do they plan to build their own lithium extraction plant? I cannot find any active plants in Pennsylvania to purchase.
"What office staff?" exactly my point. All this travel, all these deals, all the contracts, all the revenue, all the expense payments and there is NO internal staff other than Park? That is not reasonable.
I see, asking questions not approved by you is now not allowed..
I may not have the the 2 trillion shares you hold in those diamond diapers, but as a share holder, I am entitled to ask whatever I want.
Which do you propose then?
All office staff works for free or Park does all internal functions by himself?
Doesn't anyone, pumper or basher, find it odd that salaries are missing from the expenses. I know companies can contract many things, but Spooz has no Employees? No office secretary? No receptionist? No employee to pick up or answer the mail? No janitor or maintenance person? No compensated corporate officers? One would expect a billion dollar company would have at least a skeleton crew on the payroll.
SPOOZ, Inc.
Consolidated Income Statements
Expenses:
Bank fees & service charges
Commissions & fees
Interest Expense
Office Expense
Professional Fees
Rent
Travel
About a month ago I called the auditor and was told, politely, they do not discuss clients or audits without written permission from the client, which I do not have.
I also sent several APRA (Access to public records act) requests to the State of Indiana and the City of Kokomo regarding the real estate project. So far, they have not found any payments or grants to Spooz, JP3E or Park. I guess this fits the "restructuring" narrative about the Harmony Villa project.
The company did not recognize commodity revenue or at least report a subsequent event concerning pending revenue. Which one or more of these criteria was not meet ? Persuasive evidence? Fixed or determinable sale price? Collectability? Shipped goods and/or services rendered? You would think the company would know this kind of information so far into the 2nd quarter.
"Notes to Consolidated Financial Statements
The company applies paragraph 605-10-S99-1 of the FASB Accounting Standards Codification for revenue
recognition. The company recognizes revenue when it is realized or realizable and earned. The Company
considers revenue realized or realizable and earned when all of the following criteria are met: (i) persuasive
evidence of an arrangement exists, (ii) the sale price is fixed or determinable, (iii) collectability is reasonable
assured and (iv) goods have been shipped and/or services rendered. "
Yahoo reported a company generated press release. I don't believe Yahoo was expressing an opinion on a name change.
As of now, there is no mention of an approved name change on the OTC website.
This makes some sense to me now. I have sent 4 APRA requests to the State of Indiana and City of Kokomo concerning the Harmony/Faris construction project. None of the inquiries have returned any record of payments to Spooz, JP3E or Park for a that project. It sounds like the project, in its original form, did not happened.
I am happy you are excited about your investment and I hope you make the returns you believe are out there,
However, that does not address my initial point. The statements, as filed, are inaccurate. If they are incorrect in small insignificant items, it is difficult to have faith in the larger items.
Both answers can not be true at the same time
4) Issuer’s Business, Products and Services
B. List any subsidiaries, parent company, or affiliated companies. None
Note 1. Organization, History and Business
On or about January 1, 2024 the company completed an acquisition of JP 3E
Holdings Inc. JP Energy Group, Inc. and JP Energy Global PTE, LTD are wholly owned subsidiaries of JP
3E Holdings Inc.
When I mentioned subsequent events for the December report, I was shouted down that this was a "new" company and Spooz was a different company than JP3E and all things would show up in the 1st quarter reports. It seems the narrative has changed to no information in the 1st quarter, but wait for the 2nd quarter. At some point some one has to report something.
It seems that some of the billionaire investors here might check to see if their community colleges have basic accounting classes available. (specifically accrued revenue and accounts payable)
Per Wiki ""The objective of financial statements is to provide information about the financial position, performance and changes in financial position of an enterprise that is useful to a wide range of users in making economic decisions." Financial statements should be understandable, relevant, reliable and comparable
Tonight's homework assignment for the unlearned
"Short Volume: It's Not What You Think - Wilton Risenhoover "
https://fintel.io/article/short-volume-its-not-what-you-think-613
What's the latest on the Real estate deal? Construction was to start on March 4th, but I have not heard updates from the company.
The Kokomo Tribune says on March 12th the Kokomo Plan Commission gave unanimous approval to the developer, Faris Center LLC for construction projects to begin. https://news.yahoo.com/2-housing-projects-receive-development-222100127.html
The developer, Faris Center LLC, is managed by Harpreetinder Singh
https://bsd.sos.in.gov/PublicBusinessSearch/BusinessFilings
So far I see no link to SPZI or any of the JPE3 entities.
Are they a partner? silent partner? Investor? Owner?
Mr Snow,
The letters are a required document that is pretty standard among all companies. This is another letter by Attorney Blum for another company. Change the name and repeat.
https://www.otcmarkets.com/financialReportViewer?symbol=HALB&id=266645
Someone, and I forget who it was, was calling the auditor for confirmation. Is there an update? Yes? No? Neither confirm or deny? No comment?
The website is very clear there is no terminal and I cannot find any estimated time line to start or finish construction. There are only statements the company wishes to build a terminal.
GNL Talchuano will create new jobs. Our project intends to hire more than 160 specialized workers and to provide more than 1000 indirect jobs during the construction stage.
The maritime terminal will be located on the Bay of Concepción, more than 4 km from populated areas and away from fishing routes.
We will finance the construction of this system in collaboration with the University of Concepción, allowing the detection of a tsunami up to 40 minutes before it reaches the Chilean coast.
The maritime terminal will be built essentially with manufactured products and supplies from regional industries, helping to stimulate the local economy.
If part of the SPZI plan is to route LNG here, It will be a long time before that can happen.
Excellent insightful answer,
You should be a politician.
As a stockholder, expecting answers from management is hardly bashing.
And I've been trading stocks since you were in diapers, which according to your post might have been last week.
MR Shotsky,
Respectfully, your response is complete nonsense. Spooz = JP3E A name change does not magically start a brand new company. JP3e FORMALLY SPZI. It is not a new company and the old one falls of the face of the earth. I would have expected a more reasoned response than "wait and see" Your almost fanatical belief in the infallibility of management is equally annoying. I did not announce the contracts, I did not announce the name change, I did not announce the acquisitions, The company did. I am asking for the follow up transparency promised by management.
While we are on the subject, exactly what is going on between the companies? I am having trouble ascertaining exactly what is happening here. I have seen press releases for mergers, acquisitions and a name change. which one, or combination, is it?
Spooz Acquired Key JP Energy Assets Dec 20, 2023
Spooz, Inc. will be renamed - JP 3E Holdings, Inc. as the parent company/new public entity. Dec 20, 2023
JP Energy Global, PTE, LTD, a wholly owned subsidiary of JP 3E Holdings, Inc., formerly Spooz, Inc. (OTC: SPZI) Jan 5 2024
Why file for a name change if SPZI is being acquired by JP 3e Holdings, Inc? The assets and liabilities of SPZI still exist somewhere on some one's books. If Microsoft suddenly changed its name to Bill Gates' Cash Cow, would your stock be worth less? Would Windows suddenly go away? Would the newly named company be free of any reporting requirements just because they have a different name? As I've mentioned many times before, the company does not do a very good job of updating shareholders. The investor relations person has failed to deliver the promised transparency and integrity. It is OK to own stock and ask questions from management, as a matter of fact, I think it should be mandatory.
Mr Shotsky, As you often quote the company STATED: "CLEARWATER, FL / ACCESSWIRE / December 28, 2023 / JP Energy Global, PTE, LTD, a wholly owned subsidiary of JP 3E Holdings, Inc., formerly Spooz, Inc. (OTC PINK:SPZI), is pleased to announce the execution of three commodity contracts totaling $36,774,000 for Grade A Chicken Paws. The previous announcement was for $53,460,000 for one fully executed contract."
The contract belongs to Spooz. I'm my opinion it should have been listed as an asset of the company ,but at least it should have been foot noted as a material event. Financials are not for management's benefits, they are to inform shareholders and potential investors the financial health of a company. As a shareholder it doesn't matter the name or ownership. Information is information and the manager STATED transparency was a goal.
Mr Todd-M
I agree the financial results should show up in the first quarter filing. But, if the commodities contracts were fully executed and legally binding, shouldn't they be reported in the foot notes as subsequent events? Close to 1 Billion dollars (or portions thereof) seem like a material event that occurred between the fiscal year end and the release of the report. That amount of potential revenue (and liability) certainty would have an effect on the value of the company.
Do you feel the contract should have been included in the year end report? Why or Why not?
"Material subsequent events happen between the date of the financial statements and the date the financial statements are available to be issued. This lag usually lasts two or three months.
Subsequent events may not be reflected on a company’s balance sheet or income statement. Companies typically disclose subsequent events to promote transparency in financial reporting. "
Mr Snow,
That was my thinking as well. If the company issued 100,000,000 new shares at current market price it would result in less than $700,000. That is considerably less than the amount needed to purchase the commodities. And with limited credit history what would the interest expense be and how much would that shrink the net profit from the sales?
Mr Shotsky,
Thank you for your response. My follow up question is what is the collateral for the available financing. The company only disclosed $8,000 in assets as of 12/31/2023. Since that date, has the company received substantial assets to facilitate the debt instruments? I can understand if the company wishes to use the profits from current sales to secure financing for future sales, but what are they using to secure the initial financing? Most lenders want some type of credit history. The annual report lists no debt.
This was my question about the real estate deal, there is a 66 million dollar gap between the projected cap ex and the incoming revenue from investment. How will the company fill that gap?
Mr Snow,
I understand your point and it is a valid one, however, shouldn't money be raised prior to the fulfillment of the contracts. As an example, I could not buy a new car and ask the dealership to wait for payment until I raised the money, The company lists no debt so borrowing does not appear to be an option.
What do you feel would be some of their options to pay for contracts when the become due?
I did not expect many earth shaking revelations in the audit as it was a change of ownership. However, I do find it troubling that the audit did not address subsequent events. Contacts for close to 1 Billion dollars are certainly material. I find it hard to believe the auditor would have missed including them. The company has released the anticipated value so there should be no trouble calculating a receivable value. PCAOB is very clear on what constitutes a material subsequent event that should be included somewhere in the report.. I don't know why subsequent events are not included in the report, but I strongly feel they should have been,
PCAOB - AS 2105 “the auditor should evaluate whether, in light of the surrounding circumstances, there are particular accounts or disclosures for which there is a substantial likelihood that misstatements of lesser amounts than the materiality level established for the financial statements as a whole would influence the judgment of a reasonable investor. If so, the auditor should establish separate materiality levels for those accounts for disclosures.”
Feel free to bash or pump all you want, but for the love of all that's holy, can we stop blaming every move on "shorts"? In the immortal words of Inigo Montoya "You keep using that word, I do not think it means what you think it means"
https://fintel.io/article/short-volume-its-not-what-you-think-613
I learned this in my community college class today.
https://fintel.io/article/short-volume-its-not-what-you-think-613
The take away if you don't want to read the article
"Short Volume Doesn’t Indicate Negative Sentiment"
In prior posts I list a myriad of reasons I believe that shorting in the OTC is rare in general and virtually non-existent in SPZI specifically. I was promptly told I didn't know what I was talking about. Apparently you are as clueless as I am. Maybe my community college has a class I can take.
Mr Shotsky,
Yes, you are correct the price goes down when people sell as you mention. It is great that makes an opportunity for you. However my point was the rational behind the sale. Why do people sell when the stock raises several points? Taking some profits off the table? Change of heart regarding their belief in the stock? Moving on to another stock? Hence my comment on the never ending debate about the reason for the retreat. What is your belief in why people sell when there is an up tick?
Mr ETG58,
I certainly do not take joy in declining stock price or anyone losing money. You have a valid point about the short amount of time involved for management. I am concerned, however, that in spite of all the recently released positive news the price continues to remain stationary or retreat. The reason for that retreat can be debated all day long, but as they say about the price "it is what it is". I sincerely hope every one makes money, but I also would hate to think people will lose money because of FOBO and ignore any storm warnings along the way for fear of losing out. BUT, If you are confident with your position and research, then more power to you. Good Luck to you, Sir
In Mr Surfkast's defense, I have seen a valuation from 1 to 2.5 Billion Dollars floated by several posters. Not saying that qualifies as all people expect this, but there actually some that do believe it.
Mr Shotsky,
Thank you for that response. My initial point was the line in your comment "The bashers/pumpers are paid by how many responses they receive from their activities.". Wouldn't someone that posts positive demonstrably incorrect information also be included in a reply count?
Mr Shotsky,
Not to be a contrarian, but following that logic, wouldn't a reply to a pumper actually be a vote as well?
If people have as much experience in the OTC as some claim, surely they realize it is extremely prudent to be skeptical of pumpers and bashers of "penny stock" Granted there are some true winners, but no one can deny the odds dictate one be very cautious to whom they listen. (i.e. Belfort, Indonesian gold mines, Graphite shortages, etc) Possibly IHUB could introduce a Pumper or Basher icon so we can tell them apart
Mr Snow Contrary to several posts, I was not denying that short sales take place. My point is that selling short is a very risky venture in the OTC and even more so with SPZI. I'm sure you know all of this, but you asked my opinion and this is my rational of why I think shorting SPZI is a rare occurrence.
First, you will need to find a broker that is inclined to lend shares. Some require a minimum pps deposit or other means of security so the broker is not left holding the bag if you default. If you do find a broker, what other costs (processing, interest, etc) will you incur to secure these shares. With these costs, and the SSR, the potential reward from shorting is just not worth the risk. Another problem is the illiquidity of the stock, I do not believe that enough shares can be "shaken free" by a few negative posts on an anonymous message board to cover large short sales. Finally, this stock is extremely "news sensitive". As witnessed recently, company news can be released at any time and prices spike accordingly. It would take a trader with a extremely high risk tolerance to trade short in SPZI
As for the motive of anyone on this board, I have no Idea. Between the deification of management and the outright rude and obnoxious behavior, I don't have a clue why anyone does anything. This board gives me a headache.