JP 3E Holdings Inc (JPTE)

[Kool Aid Man]

IMO Park's "EB-5 investments" were never ever going to happen..certainly not to the extent he claimed in his PR's.

On 01/19/2024 CEO Park wrote "SPZI: JP 3E Holdings, Inc. Secures US Department of Homeland Security EB-5 Program and Procures the Acquisition of CIG International" https://finance.yahoo.com/news/spzi-jp-3e-holdings-inc-202300869.html In it he boasted

Agriculture Technology Campus (“ATC”), a rural Infrastructure project eligible for EB-5 priority processing. Investors will be repaid upon refinancing permanent loans that are guaranteed by the United States Department of Agriculture (“USDA”) through a rigorous federal loan guarantee review and has been designated as a “high-security project” in the EB-5 industry. Located in Early Branch, South Carolina,

However, according to a local news article published on 2/18/2024 entitled "SC agriculture campus canceled deal for foreign investments, but visa program still touted." It went on to say "A plan to solicit foreign investments for the fledgling Agriculture-Technology Campus was shelved months ago..." the developer had cut ties with that Park's CIG scheme months earlier even as he was still promoting it. https://www.postandcourier.com/business/south-carolina-agriculture-visas-foreign-investment/article_d05058ea-bf82-11ee-9508-4789e40c9475.html

Ten days later (2/28/2024) Park announced

SPZI: JP 3E Holdings, Inc. Receives $23 Million, Purchasing Kokomo, Indiana Harmony Villas Project & Adds Rocky H. Singh to its Team... "JP 3E Holdings, Inc., formerly Spooz Inc., receives $18,000,000 from the city of Kokomo, IN and the state of Indiana to fund the Harmony Villas Project. Rocky H. Singh, as a newly added Director, will manage the Harmony Villas Project and will add an additional $5,000,000 for the project.." https://finance.yahoo.com/news/spzi-jp-3e-holdings-inc-153700130.html

Well we know the $18 million wasn't reported in Park's Q1. Nor was the $5 million Park said Rocky Singh would add. Nothing was in the Q1 confirming "JP3E purchased the 23 acres of land for the project."

Then, in his Q1 "supplemental" posted 5/16/24 Park said--

Material Event 2

With respect to the previously announced Harmony Village Project (the Project) on February 28, 2024 (same day as the PR above!!!) in the city of Kokomo, IN, all parties related have agreed to a restructure of the previously executed and announced contract (Announced AND "restructured the SAME DAY???) . The current agreement provides for JP 3E Holdings, Inc. an option to own 100% of Faris Center, LLC upon stabilization (WTF does ''stabilization" mean)???). Any immediate funding anticipated to have been received, shall be administered through Faris Center, LLC, managed by Rocky H. Singh, being its principal. Such funding will occur upon Project completion based upon current assessments. so as of 5/16/24 there has been NO FUNDING because the project has not been "completer"???) The project is undergoing construction permitting and scheduled to start construction in 2nd quarter 2024
https://www.otcmarkets.com/otcapi/company/financial-report/402832/content

Lastly, as far as I can tell, Dr. Rocky H. Singh is not identified anywhere as being a "newly added director" of JP3E.