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I'll admit I am baffled by the obsession with the name change and how the value will skyrocket once it happens.
I understand the "new name, new beginning" narrative, but as an investor, if you like (or dislike) the company what does the name matter? Is the line of reasoning that 100's of new investors will suddenly discover JP3E that did not like SPZI's financial position? If Apple becomes Peach tomorrow will you buy or sell based only on a name change? The reasoning escapes me.
Xman, I wished I had an answer to your question, but I don't know the outcome of the contract or if there were consequences or penalties for non-performance.
IMO, that contract was poorly written with vague and ambiguous language. There are many spelling and grammar errors.
I would hope it was not transferred into the new company. Hopefully any new contracts are much cleaner and have been reviewed and approved by an attorney. This is a major frustration with management, why not release the contracts? if not the actual documents, at least document details.
Also, I have never seen any announcement for purchase contracts. If Spzi sells sugar, they need to have a contract to buy sugar, unless of course they keep 100's of tons of sugar at the office. You don't get 600 metric tons of sugar at Trader Joes.
May 2023 executed sugar contract as per your request.
https://www.sec.gov/Archives/edgar/data/1409446/000164033423001741/nhmd_ex992.htm
I''m not sure the press release is that big of a "BOOM"
finalizing commodity shipping details
Wouldn't that indicate they have not shipping anything yet?
As this is June, that would mean no Q2 commodity revenue.
(2018) Cabot Oil and Gas had average expected well cost of 8.6 million per Marcellus well in 2018, prior to inflation.
I'm sure costs are somewhat higher at this time.
https://www.ogj.com/drilling-production/production-operations/unconventional-resources/article/17297716/cabot-plans-85-wells-in-marcellus-shale-in-2018
How did Nate’s clearly stated contracts spelling out every detail work?
That is a very very good question
https://www.sec.gov/Archives/edgar/data/1409446/000164033423001741/nhmd_ex992.htm
PS check out the initials on each page and the signature page.
You might want to see if your local community college has a beginning reading comprehension course.
Do you every get dizzy from all the spinning?
"or it’s material" I've requested the release copies of the Chicken paw and sugar contracts. . A company announces they have fully executed contacts and you think it's to much to ask for some type of evidence? They did it at Nates. At nearly a billion dollars, I can see how you would find that immaterial . As I posted earlier, the auditors office said they will not confirm or deny clients and will not discuss audits without written consent of a client.
And you're the one who decided I don't own any stock. I NEVER said that, so add that to your list of unfounded assumption.
I was in the Oct 21 Spzi run. I sat quietly and watched it go up to around .01 and believed everything from the company until it all melted away. I was hoping things would be different this time, but I refuse to not ask hard questions or blindly believe things merely because the company said so. Again I have no interest in saving you, if you make 10 trillion dollars or lose every diamond on both hands, my life will be unchanged. Sorry to hear about your strained credibility, maybe put some ice on that
Excellent reply, personal attacks always make your point more valid and you know I value your opinion more than life itself.
As a stockholder, I want to know the company information is accurate. So your answer is to ignore any evidence in front of you that might lead you to question the company press?
Have you ever tried to research one thing the company has released?
I have, I've called the auditor, I've called the company, I've emailed the company many many times begging for more detailed information to be released, I've sent 6 public information requests to the City of Kokomo and the State of Indiana, I've researched all the partners that have been announced. ( did you find out how many wells PEC owns to contribute to the LNG project?) I've googled every possible fact to prove or disprove what the company has released. BUT you are right, my arguments and facts pale in comparison to your "wait and see" philosophy. Talk about spreading lies, you might want to check a mirror.
Can you cite, with references, the , total daily production, total reserves or number of wells owned or operated by Power Engineering Company or Imperial Holdings?
https://www.pec.com.qa Power Engineering Corp's website does not mention anything about owning or operating wells. I cite facts and you cry lies but you put forth speculation and want me to take it as fact.
Large amounts of LNG revenue are not possible for at least a year or more. It appears that Kerogen is not an active operator at this time and has no producing wells. According to Marcellusgas.org it will take an average of 357 days to permit, drill and produce a gas well. If Kerogen started today, any contributions of LNG revenue is at least a year away. An alternative to company owned production is to purchase gas from 3rd parties, but that would drastically reduce any profit margins.
???? I never said there was or was not lithium in brine water from gas wells and I never claimed to be a lithium expert.
You opined that I claim to know things that are unknowable. Your comment was a brine extraction plant could be purchased and I was commenting that there did not seem to be an abundance of plants to be bought.
This does not sound like there are thousand of functional brine extraction plants out there.
https://lithiumfuture.org/map.html
"Globally, lithium is extracted from two key sources: brines and minerals. Currently lithium-bearing minerals, such as spodumene and petalite, are chiefly extracted from pegmatites in Australia, Zimbabwe and Brazil; however, future sources of lithium are likely to include hectorite and jadarite that are found in some sedimentary basins. Extraction of lithium from brines predominantly occurs from continental brine deposits, such as those found in Chile, Argentina and Bolivia. Although, extraction from oilfield and geothermal brines has been demonstrated and may become an important source of lithium in the future. "
I have searched and can not find a lithium brine extract plant for them to purchase.
I found a company in China that sells extraction equipment. https://www.sanfengtech.com/solution/lithium-brine-extraction/?gad_source=1&gclid=EAIaIQobChMIu_enjp-2hgMVIHJHAR2vqg_IEAMYASAAEgIvIPD_BwE
Even so, there would be some lag time to construct one.
Would you think they could purchase brine water from others and not their own production? That could speed up the process.
I will give you an example,
Marcellusgas.org says it takes approximately 357 days form the permit application to producing the well. Lets say is will take a minimum of 60-90 days to become an oil and gas operator in Pennsylvania. That would mean the earliest you could expect well production would be 3rd qtr of 2025. Why not say that instead of mentioning late 2024 early 2025? To your point why would people with so much at risk offer these type of answers? I don't have a good answer.
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.