Spooz Inc (PK) (SPZI) ニュース

Crazy strong is not necessary tied to location as much has the quality or in this case the lack of quality of the housing development.

In most of New Jersey (can't comment specifically about the Hamilton project area) the apartment rental market continues to be crazy strong. "Luxury" buildings fill up almost immediately with rents on a 1 bedroom approaching $ 3,000 a month. I've seen new 3 bedroom townhomes renting for more than $ 6k a month. None of these are student housing through which I believe was the target market for Hamilton Street.

The Hamilton apartments I believe were built as a student housing development. Based on the management's website photos, I can tell you that this property is a "mixed use" low end type of construction. Which would support why they can't pay their bills.

I've built a number of mix use (commercial & residential) and can tell you that if the developer and architect don't take steps to design it correctly with the necessary attention to having a "restaurant" or beauty salon in the commercial space, your residential tenants will be driven out due to the smells and noise.

These articles have been in the news for well over two years.

Commercial real estate values "ticking time bomb"

https://www.politico.com/news/2024/09/02/office-property-values-fed-00174697

As a commercial developer and Certified Commercial Investment Member, I've lived and worked through four different downfalls since 1977, I can tell you that I've never seen anything like this before. What the banks are currently facing is beyond real. I started my career when real estate loans had a 14% interest rate.

What the Feds are currently allowing is to let the banks posts the assets (balance sheets) at the future value of the maturity date and NOT what the assets truly are valued at today. That would be like you and I showing up with a financial statement that says are net worth is based on what we believe we can sell the property for in 5 or 10 years. Try doing that with your bank and tell me how it goes.

Now add in the fact that Congress passed a bill that the banks now have ownership of your cash deposits in the event the bank goes under. Look it up!

Chart is turning finally on this dog. Maybe it moves soon.  

Park sold a crap house for $341k. Built in 1930 it's located 1 block NNW of 510 Hamilton at--

24 JEFFERSON ST
SOMERSET, NJ 08873
Block: 195 / Lot: 37.01
Sale Price: $341,000
Sale Date: 12/11/2023
Owner(s): 525 Hamilton Street, Llc
Mailing Address: 510 Hamilton St- Apt 415 (Park's on-site manager apartment)
https://njpropertyrecords.com/property/1808_195_37.01

BTW: 525 Hamilton Street which the LLC is named after was built in 1923...102 years ago. It's a vacant, overgrown field across from 510. You can see the back side of 24 Jefferson from it. Park apparently sold both on the same day https://njpropertyrecords.com/property/1808_195_14.01

These sales were 3 days after he jumped from NHMD to SPZI.

510 Hamilton rents $1,450-$2,100. Others say $2,500 max for 2 br/ 2 bath.

https://www.zumperrentals.com/address/510-hamilton-st-somerset-nj-08873-usa

Glad to help. In some areas of NJ it's possible that the tax collector sends out a couple of goons with baseball bats.

Thanks for providing more insight about how New Jersey deals with delinquent taxes.

KAM provided a link to an on-line article. The Wall Street Journal ran a piece a couple of months ago about apartment building owners in the southern USA that are walking away from properties and letting the bank foreclose. Rents are softening because of oversaturation, operating costs are rising and interest rates are stubbornly high. That's a triple whammy for anyone who has leveraged their portfolio which is likely the case with many of these projects.

In most of New Jersey (can't comment specifically about the Hamilton project area) the apartment rental market continues to be crazy strong. "Luxury" buildings fill up almost immediately with rents on a 1 bedroom approaching $ 3,000 a month. I've seen new 3 bedroom townhomes renting for more than $ 6k a month. None of these are student housing through which I believe was the target market for Hamilton Street.

Commercial real estate values "ticking time bomb"

https://www.politico.com/news/2024/09/02/office-property-values-fed-00174697

How does CR values/ leverage compare to the sub-prime disaster of 2007?

As far as housing goes, even though rents are rising are they enough to cover increases in costs (insurance, repairs/ maintenance, utilities, taxes and interest rates/ debt service)?

Page 15 FIXED ASSETS: Land & Buildings ( see Note 9. ) $18,232,526 (Note: Park values Bloxcross at $7 million more than 510 Hamilton St)

Long Term Bank Loan (see Note 11.) $22,992,544
https://www.otcmarkets.com/otcapi/company/financial-report/417481/content

Page 22 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

Here's where this starts falling apart and why the lender stays on top of these defaults. It also supports why I posted the lender would have required the taxes to have been brought current under the sale.

IGlow posts on first in line was correct. Property taxes in most jurisdiction trump the mortgage. All the more reason the banks don't let these slide beyond two to three years. The ONLY reasons banks will look the other way is they have a catch 22 in the current markets.

Once a bank posts the loans in default, they are required to book the loan in a manner that creates a liquidity demand to meet regulations with FDIC and the bank examiners. Meaning they start calling in lines of credit to create liquidity, it's what we call a snowball effect. Or what can lead to a run on a bank.

As for anyone stepping up to buy the tax lien. This assumption is based on the asset having equity.

Like I posted earlier, this property like so many other commercial loans are under water when you have to take into account todays interest rates. This is why the feds and the banks are running scared right now. Many banks, including the largest ones out there are NOT booking the true value of the assets and just how poorly funded they are. This is likely why we haven't seen the bank call the loan YET, assuming they haven't already.

yep going to be a nice run to penny land shortly imo

Agree. Soon 20 will be the resistance and the price will bounce around the teens. Just like 60, 50, 40 and 30 before it. No??

Tick tock - IMHO only a few days left in this range. 

Again...IMO Park acquired SPZI from himself and his HSA cohort in order to get the ''shell risk'' warning removed. In doing so he was able to claim the property as an asset and rents as revenue. But were these unpaid bills entered as debts on SPZI's financials? Has he stopped paying rent owed from his restaurant, day care and church operating there?

Moreover, will he use this ''asset'' for other loans or toxic notes? Seems like 510 Hamilton is going down the drain so there's motivation to load it up with debts and loot it before it does.

I-Glow,
Thanks for the information, it's very interesting considering the facts around Park, Hamilton Street Associates, SPZI and BloxCross.
It begs the question of why the bank does not seem to be very concerned about the habitual delinquent tax payments especially when the mortgage is very specific in regards to delinquent taxes and covenant violations.

Mr Smith, this isn't from my personal knowledge but a cursory search.

In New Jersey, when there is a conflict between a bank with a perfected lien and the County Tax Assessor's office regarding delinquent taxes, the **County Tax Assessor's office (or municipality) generally takes priority**. This is because property tax liens are given a superior position over most other liens, including mortgages and perfected liens held by banks.

Foreclosure: If the property owner doesn't repay the taxes plus interest to the lien holder within a certain period, the lien holder can foreclose on the property...

* Distribution of Proceeds: When the property is sold through foreclosure, the proceeds are distributed in order of priority. The delinquent taxes and any associated costs are paid first. If any funds remain, they are then distributed to other creditors based on the priority of their liens.
IG

Thanks for providing more insight about how New Jersey deals with delinquent taxes.

IG

dukeb,
Since the bank has a perfected lien on the property and an assignment of the rents and revenues, do you know if a New Jersey tax lien would come before the bank's mortgage claim in a foreclosure?
It appears the property is upside down with the mortgage vs the property value. Would there be an incentive to buy the delinquent tax if you were behind the bank? Would it depend on your assessment on the financial stability of the delinquent company?

https://www.hcdnnj.org/tax-foreclosure-and-tax-sales

So a scam within a scam.

All in hopes that the spoozers will become the spoozed.

Essentially this ruse is to pay for a building or 2 that he can't afford.

Truly for his personal fulfillment and the cult.


Park is pooched.

I know a bit.

The last time the property was delinquent it was placed on the tax sale list, which entitles people to pay the back taxes and then attempt to collect from the property owner. If the owner does not repay the person who bought the debt within (I think) 2 years, then the owner of the debt can begin foreclosure procedings.

The property owner paid enough to forestall the tax sale so they bought themselves a reprieve. The interest continues to accrue at the rate of 18% (for most of the debt) and there was a year end penalty equal to 3% of the delinquent tax amount added to the balance due.

Do you have a specific question? I have some experts on speed dial

How does New Jersey handle delinquent taxes?

Calm before the $torm, $$$

0022-0023 were the buy opps

SPZI rally monkey appearing soon imo.

Broke scammers trying to out-scam each other. Same bullshite claims Park and Nate spewed on NHMD have been recycled here. Now it's Park vs Strickland/ Goulding/ESC/ Tynan & Blum each thinking they will come out on top.

Added some today,

I heard about Nate's for several years and saw several people I admire such as Surf, TK, KAM, Huggy...

And you guys had it under control.

IG

How does New Jersey handle delinquent taxes?

Nate is a known liar. Just look at the 8K's that were outright lies.

Deadbeat wannabe management ultimately fails at everything.

Oh, yeah, you'll see. Just wait until March,...or April...or September or 2026... or 2030.... Yay Spzi...
FYI - Delinquent Taxes $ 396,593.35
Delinquent Water $ 29,282.47

No OTC "News"for 2 months...z-z-z-z-z----

The pumpers got their heads cracked and they would never post any facts to support the Spooz scam.

KAM - punished them with facts - the reality check was more than they could handled.

IG

I think I will pass on calling Nate.

I never followed Nate's company.

Ask Nate..he said he met with Hoon Chang and Alcala in Nov 18-21 2023 in Atlanta.

https://www.otcmarkets.com/filing/html?id=17255367&guid=pg0-kK29eJ15h3h

KAM, does Jason Hoon Chang actually exist. If you remember the SRGE scam had officer listed with the Nevada that didn't exist. So creating officers that don't exist has happened on the OTC.

IG

KAM, the Nasdaq Capital Market has become a cesspool for scammers and forum pumpers.

Nasdaq is Complicit in the Mullen scam - Nasdaq ignored their own rules - in a 2 year period a company can't do combined a reverse split greater than 1:250.

In less than 2 years Mullen has done a combined reverse split of 1:2,250,000 and it devastated investors.

IG

It is certainly a scam but not on the level of MULN - as they have stolen hundreds of Millions from investor.

I have never seen a Nasdaq company to a combined 1:2,250,000 reverse splits that has decimated.

Spooz is still a scam - nothing in a Park created press releases can be independently verified.

IG

PS--I'm on record as investing in OTC stocks. I have held substantial stakes in Fidelity's OTC fund (FOCPX) since 1993. However, I don't invest in individual penny stocks. I leave it to their experts to avoid the garbage I've helped expose since joining IHub. So far my record of criticism has proven 100% correct.

So I don't hate all OTC. In fact the FOCPX fund has been one of my best --albeit riskiest-- performers. I have it ''bar-belled'' with more conservative/ defensive funds and ready cash to buy when there's blood in the streets.

IMO 90%+ of OTC sub penny stocks with massively bloated/ maxed out/ increasing share structures run by newbie management with sketchy histories are scams. SPZI ticks all those boxes and more

The stock you cited is actually an audited, NASDAQ listed stock that has imploded from $987 to $0.43 in ONE YEAR. On Jan 13th they announced a forthcoming reverse split to happen on Jan 31st ranging between "1-for-2 to 1-for-100." The alleged reason is to maintain the minimum $1 stock price requirement to stay on NASDAQ.

Today they filed Chapter 7 (liquidation) bankruptcy.

Anyone who thinks name and symbol changes, audits, and uplisting to more prestigious exchanges is a magical guarantee of success should take note...

It is alive! Well, sort of!

kam, is this a scam like muln?

.0025...Buy: 874,265...Neutral: 0...Sell: 2,590,874

What has happened? I see no posts here today.

The real Chang...

CNL Group incorporated a month before Park's PPE Solutions Group LLC was formed to profiteer off the Covid pandemic by importing counterfeit Chinese 3M N95 face masks knowingly putting thousands of lives at risk. https://wyobiz.wyo.gov/business/FilingDetails.aspx?eFNum=027107201060109041157240090119032111050174069208

Four months later Park sold PPE in exchange for becoming CFO of Renavotio [RIII]

Soon thereafter Renavotio, Park and PPE were all sued by 3M. Park resigned from RIII 2-3 months after taking office. Renavotio was destroyed and delisted

https://casetext.com/case/3m-co-v-ppe-sols-grp-2

Makes me wonder if CNL/ Chang were involved as well.

The BS pile is getting higher and higher! LOL! Great work!

Excellent research.

I checked with the SC SOS and CNL group, LLC was created on 02/27/2020

The Registered Agent is:
Registered Agent: hoon chang
Address
34 Windsor Dr
Georgetown, South Carolina 29440

Notice of Change of Designated Office, Agent or Address of Registered Agent 05/18/2022

Pastor Parks Cult works in scamterious ways.

Jason Hoon Chang...International Man of Mystery---

From the get-go John K. Park claimed he was a ''leading international shipper" having shipped "160 containers" worth of products (without verification mind you). He also led people to believe he had existing financing to swing his deals.

Yet when he pulled this same scam with $NHMD he apparently needed the involvement of another company --"CNL GROUP INC" headed by Jason Hoon Chang and Miguel Alcala in addition to $550k from $NHMD.

1) Jason Chang's biography posted by Park and elsewhere only cites a work history with VERIZON. Nothing at all about shipping or commodities.

2) Contrary to Park's PR's -and the following agreement with $NHMD-- there is no CNL Group INC... rather it's an LLC. So until I figured that out there was zero info on CNL "Inc." Here's the info on it--
Cnl Group, LLC
34 WINDSOR DR
Georgetown, SC 29440
Contact: Hoon Chang
Title: MBR
Phone: (678) 622-0415
Website:
Cnl Group, LLC is the only company located at 34 WINDSOR DR, Georgetown, SC 29440

Business Description
Cnl Group is located in Georgetown, South Carolina. This organization primarily operates in the Investors, nec business / industry within the Holding and Other Investment Offices sector. This organization has been operating for approximately 5 years. Cnl Group is estimated to generate >>$89,765<< in annual revenues, and employs approximately 4 people at this single location.
https://www.buzzfile.com/business/Cnl-Group,-LLC-678-622-0415 NOTHING ABOUT SHIPPING. Here are the IRS business industry codes https://www.irs.gov/pub/irs-soi/18pf_business_codes.pdf

Dun & Bradstreet might provide more info (subscription required)
https://www.dnb.com/business-directory/company-profiles.cnl_group_llc.0e363595252cb445c5c49d8024307fb9.html

The address listed in the Buzzfile link above is a residential home in a rural pine forest. However, when you search for just the address it lists other people living there...not Chang or CNL

Again...Chang signed a deal between the non-existent CNL "Inc." Nate said $NHMD paid $100k to Chang/CNL then they demanded another $450k more ($550k total). Nate rightly balked two days before Park jumped to $SPZI on 12/8/23. IMO no one operating in good faith would do that. Park obviously had been in negotiations with SPZI long before then. Such things don't just happen in TWO DAYS..
https://www.otcmarkets.com/filing/html?id=17110338&guid=2N0-k6B5X34Jh3h

Nate uploaded the following agreements and contracts in his final SEC filing in February. As you can see he writes---" In November 2023, the Company was approached by CNL Group and Jason Hoon Chang about being retained to secure Sugar and Chicken contracts on behalf of Nate’s Food Co. After a meeting with Jason Hoon Chang and Miguel Alcala in Atlanta on November 18-21, 2023, we retained the services of CNL Group and Jason Hoon Chang to work on securing contracts for Sugar and Chicken and signed an Agreement with CNL (a copy of which is attached as an Exhibit 9.1)
https://www.otcmarkets.com/filing/html?id=17255367&guid=2N0-k6B5X34Jh3h
Apparently they met face-to-face.


>>AGAIN...CHANG SIGNED THIS AGREEMENT ON 11/26/23. TWELVE DAYS LATER --AND APPARENTLY 10 DAYS AFTER NATE REFUSED TO COUGH UP ANOTHER $450K-- PARK, CHANG, ACALA AND THEIR SCAM WERE CLAIMING TO TAKE OVER SPOOZ!!<<

Hoon' da world is Jason Hoon Chang?

I did a Tineye reverse image search of his photo that appears on the JP3E website. Now compare his JP3E photo with the >>21<< that follow-------


https://tineye.com/search/d94431845ea7cec0b45936cfc567a28f0c860aca?sort=score&order=desc&page=1

Either Park or Chang Photoshopped his head onto a stock photo...identical right down to the 5 rows of polka-dots on his tie and handkerchief.


The photo link is hosted on "https://lirp.cdn-website.com." There is no functioning website by that domain. However, cdn-website.com was registered on 7/18/18 and expires in 2025: https://www.whois.com/whois/cdn-website.com

There are no archived screenshots on https://web.archive.org/ --highly unusual for a 7 year old domain or website.