JP 3E Holdings Inc (JPTE)

[I ll be back]

The math does not add up here in SEVERAL ways.

I've been doing LLC and TIC for years. My specialty is arranging partnership and have a very deep understanding of "membership purchases".

What doesn't make sense here is that this sale is being posted as a majority ownership interest change. Any time the LLC transfers a majority ownership, the lender would have been required to review and approve the sale. Given the outstanding property taxes (lien on the property) the lender would have reviewed the transfer and required the taxes were brought current prior to any transfer of a majority interest in the LLC.

Given the taxes were NOT brought current would suggest one of two outcomes. Either the lender didn't review the transfer, or the transfer was not a majority ownership transfer. OR, perhaps the OA (Operating Agreement) was never amended.

It's important to understand that amending an OA that reflects the ownership transfer is an "in-house" document that does not get recorded on the public record.

I love how the pumpers are not asking why the shell was reinstated.