Replies to post #94188 on JP 3E Holdings Inc (JPTE)

[jdcpa1]

"As SPZI owns 51% of Bloxcross, then Bloxcross should own 49% of 510 Hamilton Street." 

Lol complete dilusional nonsense...

[Kool Aid Man]

Hamilton STREET Associates LLC" vs "Hamilton ASSOCIATES LLC"....the first is named in all previous PR's and public records as being the owner of the apartment complex at 510 Hamilton. I have not found any evidence of the latter. Anyone?

Words matter. Q3 2024 reads--

Note 8. Acquisitions: JP 3E Holdings Inc.

JP 3E Holdings, Inc. completed the acquisition of a majority stake in Bloxcross, Inc. In July 2024. Bloxcross which also includes Hamilton Associates LLC. is a digital assets innovation company, renowned for its groundbreaking platform that revolutionizes global bilateral trade, cross-border payments, and financial applications through advanced blockchain technologies. Bloxcross operations are included in the consolidated financial statements.

Note 9. Assets
The increase in assets of $ 43,508,504 as of September 30, 2024 are from $ 18,232,526 in Land & Buildings from Hamilton Associates LLC. and $ 25,275,978 from Intellectual property in Bloxcross, Inc.

Note 10. Revenue
The increase in revenue of $ 108,970,023 as of September 30, 2024 is from Bloxcross, Inc.

Note 11. Long Term Bank Loan
The increase in Long term bank loan - notes payable of $ 22,992,544 as of September 30, 2024 is from Hamilton Associates LLC
https://www.otcmarkets.com/otcapi/company/financial-report/417481/content

Hamilton STREET Associates LLC https://www.bizapedia.com/nj/hamilton-street-associates-llc.html#google_vignette

[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.