SPZI: Five New Fully Executed Commodity Contracts; Year to Date Total $303 Million

Rhea-AI Summary

JP Energy Global, a subsidiary of JP 3E Holdings, Inc. (OTC: SPZI), has closed nine commodity contracts valued at $303 million for Grade A Chicken Paws. The company commands an 18% gross profit margin and has minimized currency risk by transacting in US dollars. The contracts were facilitated through KEB Hana Bank Singapore and will enable the company to acquire the product from Brazil and sell it to China. The company is also registered with the General Administration of China Customs, allowing it to ship goods to China. The Chairman, John K. Park, has hinted at fast-track growth and timely execution of the business plan, with plans for alternative funding sources and significant announcements in real estate and LNG development.

JP Energy Global, a wholly owned subsidiary of JP 3E Holdings, Inc., formerly Spooz Inc., has successfully closed nine fully executed commodity contracts valued at $303 million for chicken paws

CLEARWATER, Fla., Jan. 05, 2024 (GLOBE NEWSWIRE) -- JP Energy Global, PTE, LTD, a wholly owned subsidiary of JP 3E Holdings, Inc., formerly Spooz, Inc. (OTC: SPZI), is pleased to announce the execution of nine commodity contracts totaling $303,029,100 for Grade A Chicken Paws. The nine commodity contracts are the cumulative total that includes the previous commodity announced in December 2023.

JP Energy Global commands approximately an 18% gross profit margin while minimizing risk since there is no currency risk – all transactions are in US dollars. JP Energy Global does not act as a broker; its business model is to buy and to sell these select commodities acting as a principle, thus allowing for higher profit margins.

As previously announced, a Documentary Letter of Credit (DLC) and performance bond was granted to JP 3E Holdings, Inc., thus enabling unique contracts through KEB Hana Bank Singapore (KEB HBS). With its dedicated trade team, KEB HBS has the unique capacity to facilitate these transactions worldwide and can facilitate transactions with China. The performance bond, coupled with the documentary letter of credit, facilitates the payment to JP Energy Global, PTE, LTD. In this case, the product, Grade A Chicken Paws, can be acquired by JP Energy Global from Brazil and then sold to China, as set forth above. The primary port used is the YANTIAN PORT ( SHENZHEN ) – CHINA.

JP Energy Global, PTE, LTD is registered with the Overseas Exporters of Imported Foods with the General Administration of China Customs. Our registration number is 70223000258 and is permitted for all food categories. This is what authorizes the company to ship goods to China. https://www.gacc.app/

“Investors are witnessing a fast-track growth program and timely execution of our business plan,” stated John K. Park, Chairman of Spooz, Inc., being renamed “JP 3E Holdings, Inc.”

For real estate and LNG development, we are facilitating an alternative funding source and mechanism under the EB-5 program. Investors can expect major EB-5 and significant LNG announcements in the near future.

About Spooz, Inc. (SPZI) now JP 3E Holdings, Inc.  

Operating companies to supply the world with the vital needs of Eating, Energy, and Education (3E) which are essential needs for our everyday living and quality of life. 

SAFE HARBOR ACT: Forward-looking statements are included within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding the Company’s expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations or listing on an exchange — including words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will” and other similar expressions — are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond the Company’s control and may cause actual results, performance or achievements to differ materially from anticipated results, performance or achievements. The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. No information in this press release should be construed in any manner whatsoever as an indication of the future performance of the Company’s revenues, financial condition or stock price.

Company Contact:

John K. Park, Chairman

john.park@jp3eholdings.com

Office: 727 216 6765

Websites: https://www.jp3e.com/

https://www.jp3eholdings.com/

Twitter: http://www.twitter.com/SpoozInc

Facebook: http://www.Facebook.com/SpoozInc

Email: info@Spooz.com

FAQ

What is the company name and ticker symbol mentioned in the press release?

The company mentioned in the press release is JP Energy Global, a subsidiary of JP 3E Holdings, Inc., formerly known as Spooz Inc. The ticker symbol is OTC: SPZI.

What is the value of the commodity contracts closed by JP Energy Global?

JP Energy Global has closed nine commodity contracts valued at $303 million for Grade A Chicken Paws.

How does JP Energy Global minimize currency risk in its transactions?

JP Energy Global minimizes currency risk by transacting in US dollars for all its commodity contracts.

What unique capacity does KEB Hana Bank Singapore have in facilitating transactions for JP Energy Global?

KEB Hana Bank Singapore has the unique capacity to facilitate transactions worldwide and can facilitate transactions with China for JP Energy Global.

What permits JP Energy Global to ship goods to China?

JP Energy Global is registered with the General Administration of China Customs, which authorizes the company to ship goods to China.

What plans has the Chairman, John K. Park, hinted at for the company's growth and development?

The Chairman, John K. Park, has hinted at fast-track growth and timely execution of the business plan, with plans for alternative funding sources and significant announcements in real estate and LNG development.