NEW YORK, Oct. 14, 2024 (GLOBE NEWSWIRE) -- JP 3E Holdings, Inc. (OTC: SPZI), formerly Spooz, Inc., is excited to announce a series of significant corporate developments that mark a new era of growth and expansion for the company. These strategic initiatives include steps to uplist to the OTCQB market, filing a Form 10, following which, it will initiate 15c2-11 filing, become a fully reporting company under SEC guidelines, remove the "shell risk" designation, and implement a comprehensive rebranding, including a name, ticker symbol, and CUSIP number change through FINRA.
JP 3E Holdings has successfully completed its audited financial statements for 2022 and 2023, a pivotal achievement that positions the company to become a fully SEC-reporting entity. This milestone underscores JP3E's unwavering commitment to transparency, compliance, and delivering significant income and growth to its shareholders.
Shell Risk Removal: One of the initial steps JP3E undertook was to mitigate the risk associated with being designated a “shell risk” by OTC Markets. Through substantial business combinations and acquisitions, the company has demonstrated robust operational activity. Legal counsel has submitted two letters and comprehensive documentation to OTC Markets, confidently presenting a compelling case for the removal of the shell risk designation. The company anticipates a favorable review and is poised for this designation to be lifted soon.
Form 10 Filing with the SEC: JP3E has coordinated with its legal counsel, Gary Blum, and has submitted the proper paperwork to complete its Form 10, registration statement, to become a reporting company under the Securities Exchange Act of 1934. This filing is crucial for uplisting and provides the SEC with comprehensive information on the company’s business, financial condition, and operations.
Form 15c2-11 Submission: The company is also preparing its Form 15c2-11 submission, a key step that will assign a Market Maker to represent JP3E in the market to obtain adequate information and complete the required sufficient due diligence. This will be done alongside the Form 10 filing with the SEC, which will offer detailed insights into the company’s business operations and financial condition.
Name, Ticker, and CUSIP Change: As part of its strategic rebranding, JP3E, formerly Spooz, Inc., is changing its name, ticker, and CUSIP number to reflect its focus on the Eating, Energy, and Education sectors. The paperwork has been completed to change the name with the Nevada Secretary of State. The company has been issued a 16 digit case code from FINRA under Corporate Actions to provide any support and coordination required to complete the process of changing the name, symbol, and CUSIP number for the company.
Uplist Plans: JP3E’s strategic roadmap includes uplisting from the OTC markets to the OTCQB with no plans of doing a reverse split. The above are all prerequisites that are essential for trading on the OTCQB. This move is contingent on meeting the stringent financial and compliance criteria of these exchanges, which the company is actively pursuing through its audited financials.
"Our journey to become a fully reporting company is not just about meeting regulatory requirements; it's a testament to our integrity, transparency, and dedication to sustainable growth," said John K. Park, Chairman and President of JP 3E Holdings, Inc. "These strategic steps are complex and demanding, but they reflect our unwavering commitment to our shareholders and our vision to be a leader in the markets we serve."
The company is gearing up to release exciting operational updates in the near future, showcasing additional strides in its aggressive growth strategy and market expansion efforts. To receive information on JP3E, sign up for email news alerts at https://www.jp3e.com/subscription.
For additional information on the Global Trade Financing Platform via Bloxcross, Inc., reach out to sgallegos@bloxcross.com.
About JP 3E Holdings, Inc.
JP3E is a global leader in commodity trading, known for its innovative approach to optimizing trade processes and solutions across numerous sectors. With a commitment to sustainability and market leadership, JP3E continues to drive new trends and solutions in global commodity markets. JP3E’s financial statements are audited by a PCAOB auditor.
About Bloxcross, Inc.
Bloxcross is at the forefront of financial technology, specializing in blockchain-based solutions for cross-border payments and trade finance. Dedicated to streamlining global financial transactions, Bloxcross provides secure, fast, and cost-effective services to clients worldwide. To learn more about their groundbreaking solutions, visit https://www.blox.global/.
Company Contact:
John K. Park, Chairman
john.park@jp3eholdings.com
732-241-0598 Office
Websites: https://www.jp3e.com/
https://www.jp3eholdings.com/
Twitter: http://www.twitter.com/SpoozInc
Facebook: http://www.Facebook.com/SpoozInc
E-Mail: info@jp3e.com
