Why Is Spooz Inc. (OTC:SPZI) Stock Up 55% In A Week?
Spooz Inc. (OTC:SPZI), which is currently known as JP 3E Holdings Inc., is one of the companies that could well be worth tracking this morning. Yesterday, the stock came into sharp focus among investors and ended up with gains of 29%. That was a continuation of the recent price action in the stock and took the total gains for the past week to as much as 55%.
Last week, the company came into focus after its fully owned subsidiary unit, JE Energy Global PTE LTD, made a key announcement. JE Energy Global announced that it had executed three commodity contracts with a combined value of $36,740,000 for Grade A Chicken Paws. Previously, the company had made an announcement pertaining to a completely executed contract worth $534,600. Hence, the total value of the Grade A Chicken Paw contracts came to $90,234,000.
It was also noted that a documentary letter of credit and a performance bond were both granted to the parent company, JP 3E Holdings Inc. That apparently allowed for the signing of a unique contract through KEB Hana Bank Singapore. It was noted that KEB Hana Bank Singapore had the rare ability to take care of such transactions throughout the world and could also do the same with China, thanks to its trade team.
Through the arrangement, the payment of the DLOC and the performance bond to the company would be facilitated. In this context, it is perhaps also necessary to keep in mind that JP Energy Global PTE Ltd. is a registered entity with the Overseas Exporters of Imported Food with the General Administration of China Customs.
The Chairman of Spooz, John K. Park, noted that the company was also on course to announce a major sugar contract in January 2024. He also noted that the sales of chicken paws had exceeded the previously reported quantities.
