Replies to post #88186 on JP 3E Holdings Inc (JPTE)

[Mr Smith 34]

According to Kool-Aid's post, it appears the outstanding tax balance on the property (as of April 2024) was approximately $440,000.
Would these outstanding amounts have been paid off before the acquisition / transfer was completed or can the deal be structured so the buyer assumes the unpaid tax liability?
Thanks

[Kool Aid Man]

Hamilton Streets Associates LLC was created by Perry L Pavicic on 5/4/2014.


Three years later (4/4/2017) Park created G2 FINANCE LLC with the stated purpose of "raising up EB5 investments.” As I understand the EB5 program offers visas, green cards and eventual citizenship to foreigners who invest around $1 million or more in US projects that create 10 or more jobs.
https://www.uscis.gov/working-in-the-united-states/permanent-workers/eb-5-immigrant-investor-program


Sometime in 2019 the apartment complex was built at 510 Hamilton St. I’ve not seen any evidence that Park was successful in securing any EB5 investors for it, Kokomo or the ATC project in Early Branch NC. Moreover, his acquisition of CIG (a purported EB5 powerhouse) collapsed this year as well. But EVEN IF HE DID one assumes they have financial stakes in the property. Anyway, Park does appear to run the small Korean BBQ Grill on the ground floor. I think he and his wife (Grace) also ran/ runs a daycare there as well. Regardless,

"On 6/6/2022 Pavicic amended Hamilton Streets Associates to add G2 FINANCE as a “member” along with himself.


Worth noting, 6/6/2022 is 2 months after Park co-created his disastrous PPE SOLUTIONS LLC –a Covid profiteering scam which imported counterfeit “3M N95 face masks” from China. Park reportedly contracted for tens of thousands --if not millions-- of these desperately needed, hard to get, costly masks. Four months after forming it Park sold the company to RENAVOTIO (RIII) and they made him CFO by the end of the same month. Within 2 months the fraud was exposed, lawsuits and Park forced to resign. RIII was subsequently revoked/ delisted). IMO Park likely blitzed PAVICIC with his PPE and EB5 connections in Korea and China.

Park's G2 FINANCE LLC is NOT mentioned anywhere in SPOOZ disclosures. However, JKP has apparently been involved with and beholden to Pavicic for several years.

IMO this strikes me as a scheme to temporarily invest this ticker with actual, verifiable assets in order to slap a veneer of legitimacy on it in order to (a) remove the shell warning and (b) destroy current common shareholders via a reverse split. Whether there will actually be a permanent legal transfer of ownership from Hamilton to SPZI seems highly unlikely to me. It's insane to believe that anyone with a substantial financial stake in this property is going to share it or any future profits with current SPZI bagholders -OR- with any of the other far flung entities JKP claims he has "acquired" the past 7 months. There were 5.5 billion shares outstanding BEFORE Park even showed up at SPZI and it’s now 5.8 billion. None of that money has financed anything as evidenced by Park’s taking out a $600k loan to finance operations in Q1 alone. This shell is loaded with debt. IMO the only solution is to screw everyone but holders of new preferred shares and warrants.