Replies to post #94020 on JP 3E Holdings Inc (JPTE)

[GREGG THE GREEK]

I guess we haven't been so delusional after all lol


SPZI

[Kool Aid Man]

OTC removed the shell risk because the company did what was required--- namely "submit a written request" (which I pointed out multiple times) wherein they filed a disclosure claiming that

"there has been a material change in financial condition since the most recent fiscal year-end that is reflected in publicly available interim financial statements. Examples include a material increase in asset composition or operating revenues with related financial disclosure as a result of an acquisition or change in control transaction." https://www.otcmarkets.com/glossary#shell-risk

However, OTC >>does not verify the truthfulness of financial statements of any company<<. They merely require companies to go on record by making filings stating they are meeting the minimum financial requirements of non-shell companies.

Removal of the "shell risk" warning is not to be construed as any sort of ''legitimization'' of a companies financials and, thus, it is not deemed an endorsement by OTC. It's up to investors to determine whether management is being truthful in their claims. Independent audits confer a degree of assurance though OTC . So if SPZI audits FY 2024 then that will be a plus for them. However, even those aren't guaranteed as OTC lists 104 accountants that have been banned (https://www.otcmarkets.com/learn/prohibited-service-providers and search for "CPA". Same for banned ''attorney''s)

Lastly, I never said SPZI would never get the shell risk removed. In fact, I repeatedly provided the link (above) showing them how to do it. I also repeatedly stated the warning was likely a drag on attracting new investors. However, the removal is apparently not having much impact so far. I have my own theories about why that happens each time good news is posted

So I guess you realize the financials are legit now