Huggy Bear, Important, with those so called issues...
Based on what I have learned about John K. Park, he has done some very good things. Wait, correct that, he has done some great things and he is about to do quite a few even greater things in my opinion. Based on my research of John K Park, he is a very good and noble man. The bashing of some things that had not worked out at one time or another in his life is nothing more than people like you who like to sit in "glass houses" and throw stones.
First, what you are posting to be issues, they are non issues in regards to SPZI. They will have nothing to do with SPZI going forward. They are not issues at all with what you will learn if you did a little more digging. They will have absolutely nothing to do with the price of tea in China. Don't worry, you'll see as this will be a lesson learned for you and your bashing buddies... in my opinion.
With one of those housing issues, John was a creditor to where he helped a guy get his money back. John is actually in good favor and has a good relationship with Zhao Bentley. Two of those housing issues were already positively resolved to be non-issues. The one that was open was simply because of John being associated with a guy that didn't do what he was supposed to do. John K. Park, through a fairly sophisticated method, was defrauded by a so-called business partner who he had thoroughly trusted at such time. John made a significant investment of $1.5 million in a piece of real estate that his business partner, who owned a professional real property management company, was to manage and control. His business partner pocketed all of the cash flow from the property and failed to pay the mortgage which resulted in the lender instituting a foreclosure. John had no idea that the guy wasn't making such payments and became part of that piece simply because his name was on certain documents as a partner. Of course, it was a lesson learned to not do business with that guy anymore. John has obtained a significant judgment against his former partner which is in the process of collection and the resolution of which will settle the entire matter and ultimately the judgment will be removed from the record. Plus it's not actually $4.3 million because the property was turned in and the equity went back towards the principle to reduce that amount down significantly. These things will have zero effect on what he is building with SPZI (JP3E).
Imagine if you cosign for someone to get an automobile. Then that person that you cosign for never made any payments and got the car repossessed without you knowing about it and then you find out later. Your name would still be associated with the deal administratively, but it's not your fault that the car got repossessed.
As to the other matter involving KP Commercial LLC, this was an old landlord/tenant matter which has no legs and based on what I have researched, this will also be removed from the record at some time in the future because of a positive resolution.
With the PPE situation, someone had used his name because he was "considering" being a part of that PPE deal, but when he learned that it wasn't something positive, he had his name removed and he totally removed himself from it. If you want to continue to try to twist stuff as if any of that matters here with SPZI, when none of it matters with him going forward, I'll come back to discuss this more with you later when SPZI is over .10 or .20 per share after even more is announced so that we can have even more to "compare and contrast" as proof that none of what you are talking about matters.
Bottom line, there are no active collection procedures against John whatsoever with regard to any of those matters.
v/r
Sterling
Bullish
