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Tuesday, February 06, 2024 11:54:59 AM
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"SPZI: Five New Fully Executed Commodity Contracts; Year to Date Total $303 Million
Press Release | 01/05/2024
CLEARWATER, Fla., Jan. 05, 2024 (GLOBE NEWSWIRE) -- JP Energy Global, PTE, LTD, a wholly owned subsidiary of JP 3E Holdings, Inc., formerly Spooz, Inc. (OTC: SPZI), is pleased to announce the execution of nine commodity contracts totaling $303,029,100 for Grade A Chicken Paws. The nine commodity contracts are the cumulative total that includes the previous commodity announced in December 2023.
JP Energy Global commands approximately an 18% gross profit margin while minimizing risk since there is no currency risk – all transactions are in US dollars. JP Energy Global does not act as a broker; its business model is to buy and to sell these select commodities acting as a principle, thus allowing for higher profit margins.
As previously announced, a Documentary Letter of Credit (DLC) and performance bond was granted to JP 3E Holdings, Inc., thus enabling unique contracts through KEB Hana Bank Singapore (KEB HBS). With its dedicated trade team, KEB HBS has the unique capacity to facilitate these transactions worldwide and can facilitate transactions with China. The performance bond, coupled with the documentary letter of credit, facilitates the payment to JP Energy Global, PTE, LTD. In this case, the product, Grade A Chicken Paws, can be acquired by JP Energy Global from Brazil and then sold to China, as set forth above. The primary port used is the YANTIAN PORT ( SHENZHEN ) – CHINA."
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