Spooz Inc. (OTC:SPZI), currently known as JP 3E Holdings Inc., could be one of the companies that may garner considerable attention from investors in light of the developments from yesterday. The company’s subsidiary unit, Power Engineering Corporation, hit the news cycle yesterday after it announced a new joint venture with Bloxcross.
The joint venture would be concerned with the expansion of business operations in the MENA (Middle East and North Africa) region. The venture would be focused on the healthcare, commodities, construction, and oil and gas sectors. The initial stage of the transaction would be related to the oil and gas vertical of Power Engineering Corporation, while Bloxcross would take care of the financing of the trading activities of the joint venture.
As per the provisions of the Memorandum of Agreement between the two parties, measures had been detailed that would see the implementation of the Trade Financing Platform to take care of the global trade deals of Power Engineering Corporation. The JP 3E subsidiary would move its transactions through its subsidiaries and partners to Bloxcross, which would oversee the funding and payment processing. In exchange, Bloxcross would be responsible for providing considerable financing as well as funding partners, who would be responsible for supporting the deals. Additionally, Bloxcros would also be in charge of providing the global digital infrastructure that would be vital for safe and fast transactions.
The Chief Executive Officer and Chairman of JP 3E Holdings, John Park, spoke about the latest developments as well. He noted that the move would lead to the unearthing of major opportunities and strong growth. The joint venture would combine the expertise of Power Engineering Corporation with the innovative artificial intelligence-backed trade financing solutions offered by Bloxcross and lead to the prompt opening up of those opportunities.
