Replies to post #88645 on JP 3E Holdings Inc (JPTE)

[Mr Smith 34]

John Park sold his $37 million real estate asset to $SPZI for $24 million in shares.
Not cash, shares.

There is $23,160,000 in debt associated with the property (Assessed Value $37,460,000 - Equity $14,300,000 =
Debt $23,160,000)
Bank of Hope (Mortgagee) expects to be paid by someone
Either the mortgage was transferred to SPZI, which would mean they paid double ( $23,160,000 Mortgage payments + $24,000,000 in shares) for the property
OR
Park / Hamilton Street Associates retained the mortgage but gave all the income to SPZI. Which would leave them on the hook for $23,160,000 and no revenue to pay for it.
The 510 Hamilton property is cash flow positive and currently generates approximately $200,000 in monthly income and is on track to generate $2,430,000 annual rental income for 2024

Do either of these scenarios seem the least bit plausible?

[I ll be back]

Of course you left out the most important part!

A reminder that @JP3EHoldings John Park sold his $37 million real estate asset to $SPZI for $24 million in shares.
Not cash, shares.

What about the $24M loan and the $440,000 + 18% penalty in outstanding taxes! These liens will stay with the property until such time a new loan is placed. Additionally, if John didn't obtain the existing lenders approval prior to transferring to the new corporation, the loan is in default. Watch for the NJ assessor's records for verification of the transfer. If it doesn't post in the next four weeks, shareholders are going to be asking some serious questions.

Putting up worthless shares with a price limit at more than a 3,000% only confirms that the valuation of the apartments is nowhere near the $37M. If it was truly worth $37M, this project would have been placed on the open market to raise millions to roll into other investments opportunities. DO THE MATH!

[Kool Aid Man]

Wrong..those preferred shares ARE acquired/owned the moment they're issued. When they're sold remains to be seen.

Furthermore...a big fat reverse split would surpass those $0.20 to $0.50 thresholds in a flash...most likely by a great deal.

[dinogreeves]

Wow, what a scambakaroo.