JP 3E Holdings Inc (JPTE)

[Mr Smith 34]

I assumed there would be some convoluted story about how Park bought out all of the Hamilton Street Associates, LLC members, however I didn't see Hamilton Street Associates, LLC listed as a subsidiary .
THEN this showed up in the 3rd quarter financials.

JP 3E Holdings, Inc. completed the acquisition of a majority stake in Bloxcross, Inc. In July 2024. Bloxcross which also includes Hamilton Associates LLC

As SPZI owns 51% of Bloxcross, then Bloxcross should own 49% of 510 Hamilton Street.
The balance sheet shows 100% of the debt and asset value on SPZI's books. It must be some of that fancy acquisition accounting I heard so much about...Either that, or it's just plain outright fraud.
And the correct owner of record is Hamilton Street Associates. So much for flawless financials.