JP 3E Holdings Inc (JPTE)

[Kool Aid Man]

"JP3E acquired 510 Hamilton for $24,000,000 with a $150,000 closing fee – $14,000,000 in the form of 70,000,000 warrants exercisable at $.20 per share, and $10,000,000 in the form of 20,000,000 Series C Preferred Stock at $0.50 per share, convertible into common stock on a one for one basis – 20,000,000 shares of common stock.

In order for those 20 million Series C Preferred shares to be worth $0.50 cents would require a minimum rise of +7,363% from today's close. How realistic is that without a massive reverse split?

FYI--I'm told by someone vastly more knowledgeable about OTC and SEC rules than anyone else I've ever run across that "Preferred stock >>can be excluded<< (from a reverse split), but I don't know whether any form of convertible securities—which warrants also are—can be. However, find the SEC filings that memorialize their issuance, and there'll be an explanation"

Problem is, there are no SEC filings available for Spooz online https://www.sec.gov/edgar/search/ They filed a total of 9 REGDX (paper reports) between 2004 and 2008 then stopped altogether.

So if preferred shares and warrants can be excluded from a reverse split then I think the plan is to destroy all common shares and send all old bagholders packing. Park can pull a token "reduction" in the A/S which isn't remotely proportional to the R/S. The effect of such a tactic is actually a massive increase in the A/S thereby giving Park all the "new" shares he wants.