Then the merge doesnt go through. Park is basically bankrupt, as his debts and judgements against him are more than his assets. A big surprise for the pumpers-banks actually look at assets and revenue to lend money. Sure he gets a half billion dollars being $4 million in debt with judgements for non payments.
We do not yet know the actual cause of the delay. It is due to terminology in the 8k vs the acquisition agreement, but that's all we know. Anything else is speculation, which is fine, but until we know what the real problem is, we are just guessing. I am disappointed that they didn't fix the error in the 8K yesterday. On the other hand, if it is due to the audit, we should only have to wait until it is completed, and they have 4 months to do that, and even then it can be extended by mutual agreement. It seems to me that leaves things pretty open ended at this time.
In the September 19 announcement of the merger, this was said: "JP Energy Group’s mission is to become a global supplier of top-quality food products and commodities for its clients in the Pacific Rim. This strategic move underscores JP Energy Group's unwavering commitment to delivering excellence to international markets and solidifying its position in the global food distribution network. The audit of JP Energy Group will be filed within 75 days following the acquisition's completion." Sept 19 8K
Nates changed accountants AFTER the merger was announced: On October 6, 2023, Nate’s Food Co. (the “Company”) dismissed Pinnacle Accountancy Group of Utah (a dba of Heaton & Company, PLLC) (“Pinnacle”) as the Company’s independent registered accountant. Also on October 6, 2023, the Company engaged and executed an agreement with GreenGrowth CPAs (“GreenGrowth”), as the Company’s new independent registered accountant. Accountants changed
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