SPOOZ Inc (SPZI)

[Kool Aid Man]

SPZI is Park's 3rd run at penny millions--the first two failed. As everyone knows the 2nd was Nate's (NHMD). That one lasted from September thru December 8, 2023. But what about the first...

RENAVOTIO, INC (RIII) fka SUCCESS ENTERTAINMENT GROUP INTERNATIONAL INC.

Sensing there was fast money to be made when the Covid pandemic hit, on 4/9/2020 Park co-founded PPE SOLUTIONS GROUP, LLC
https://wyobiz.wyo.gov/Business/FilingDetails.aspx?eFNum=027107201060109041157240090119032111050174069208

FOUR MONTHS LATER this PR dropped---

SUCCESS ENTERTAINMENT GROUP INTERNATIONAL INC.

On August 6, 2020 the company entered into a Letter of Intent (“LOI”) to acquire the medical infrastructure company PPE Solutions Group, LLC (“PPE”), a Wyoming limited liability company based in New Jersey.

The LOI provides for RI to exchange SEGN common stock for 100% of the Equity Interests of PPE for an aggregate purchase price of Two Million U.S. Dollars, ($2,000,000.00), calculated by issuing an equivalent amount of SEGN shares based on the stock’s closing price on the date of the acquisition. The purchase price is subject to an adjustment based on RI’s due diligence review, any third party valuation reports of the Company that the Buyer may obtain, and any adjustment terms set forth in the Definitive Agreement with the intent to operate the Company as a wholly-owned subsidiary. (Page 9)
https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&ref=115183687&type=HTML&symbol=RIII&companyName=Renavotio+Inc&formType=10-Q&formDescription=General+form+for+quarterly+reports+under+Section+13+or+15%28d%29&dateFiled=2020-08-14

Here’s the LOI document:
https://contracts.justia.com/companies/success-entertainment-group-international-inc-8296/contract/122994/

And here's Park’s PR: https://www.newsfilecorp.com/release/61221/Success-Entertainment-Group-International-Inc.-Signs-Letter-of-Intent-to-Acquire-Medical-Infrastructure-Company-PPE-Solutions-Group-LLC

Park's PPE SOLUTIONS was apparently acquired because --20 days later-- they named Park as "Chief Financial Officer and Treasurer (Principal Financial Officer and Principal Accounting Officer) on August 26, 2020 and he began signing filings in his official capacity. FINRA apparently allowed the company to change its name around this time
https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&ref=115445756&type=HTML&symbol=RIII&companyName=Renavotio+Inc&formType=10-Q&formDescription=General+form+for+quarterly+reports+under+Section+13+or+15%28d%29&dateFiled=2020-11-16

In the following disclosure dated 10/20/2020 the company identified "John Kyungjik Park" (“John Park”) as CFO (Page 14). They also published a version of his bio (Page 65) https://www.sec.gov/Archives/edgar/data/1574910/000147793220005697/segn_s1.htm

Then on page 6 of this 10-K they said

On October 28, 2020, we and an overseas supplier of 3M N95 1860 Face Masks (the “Face Masks’) completed an agreement for the supply from the overseas supplier for 10 Million Face Masks. Upon completion of our first purchase of 500,000 Face Masks, we are required to purchase the remaining 9.5 Million Face Masks within 2 months after the 500,000 Face Masks purchase. In November 2020, we closed the sale of the first tranche of 500,000 N95 masks to a medical supply company representing a state agency buyer. In December 2020, we mutually cancelled the P.O. for the remaining 9,500,000 N95 mask, on the P.O. for 10,000,000 N95 mask order due to issues related to product reliability and potential counterfeit masks being substituted for original issue mask.

In December 2020, we received an order of 1,900,000 N95 masks. In December 2020, we cancelled the balance of the remaining 1,400,000 N95 mask, on the P.O. for 1,900,000 N95 mask order due to issues related to product reliability and potential counterfeit masks being substituted for original issue mask.
https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&ref=115791272&type=HTML&symbol=RIII&companyName=Renavotio+Inc&formType=10-K&formDescription=Annual+report+pursuant+to+Section+13+or+15%28d%29&dateFiled=2021-04-15

May 21, 2021 Filing 1 COMPLAINT against PPE Solutions Group LLC
https://dockets.justia.com/docket/new-york/nysdce/1:2021cv04576/560751

10/12/21 "Renavotio Announces Settlement and $2.2 million Investment"

As part of the settlement, Renvotio exchanged Series D Preferred shares issued at $2.2 million for a 50% ownership in Harrowdale Ltd., which entity was formed as a partnership (the “Partnership”) for the purpose of expanding our Personal Protection Equipment and other targeted market opportunities on a global basis. As part of the agreement, RIII has assigned its $1.2 million dollar Judgment against the supplier for the counterfeit masks; upon collection of that judgment, if ever, the proceeds from such judgment will be used to reduce debt and provide operating capital for the Partnership.
https://www.globenewswire.com/news-release/2021/10/12/2312552/0/en/Renavotio-Announces-Settlement-and-2-2-million-Investment-in-Market-opportunity-Partnership.html

6/27/22 3M COMPANY, Plaintiff, v. PPE SOLUTIONS GROUP LLC, (Park settled)
Defendant (John park and JPJD2020 LLC defendants). https://casetext.com/case/3m-co-v-ppe-sols-grp-2

RENAVOTIO, INC --apparently delisted by the SEC a/o 9/26/2023
https://www.sec.gov/files/litigation/admin/2023/34-97570.pdf
https://www.sec.gov/files/litigation/admin/2023/34-98359.pdf

RENAVOTIO, INC (RIII) filings-- none in 2023 https://www.nasdaq.com/market-activity/stocks/riii/sec-filings

I don't see how Park can state he was not "the subject of any civil suit within the past 10 years" as stated by him in the SPZI Annual Report