JPX Global Inc (JPEX)

[jufel]

IMO those $16 M is to finance JPEX business plan which is probably worth several times more than that :
"MGC's vision is to be a leading company in the broadcast industry. MGC is currently working with Radio Stations and TV Stations, to create a platform for the independent production of programs, such as soap operas, movies, and news. We are currently working on presenting high-tech studio digital platforms in major cities in the United States. MGC's goal for 2023 is to finish the construction of 12 television Stations with 6-8 Channel independent broadcasting programs on each station. MGC plans to build at least 20 television Stations combined with high power FM stations in the most important cities within the territory of the United States. MGC also wants to acquire properties to build its own communication towers, and thus become completely independent from leasing properties. "