JP 3E Holdings Inc., a provider of financial and commodity trading solutions, said July 1 that it completed its acquisition of South Korean company MetaRock Inc. as a wholly owned subsidiary.Â
This purchase allows JP 3E to enter the artificial intelligence space. MetaRock is the world’s first decentralized metaverse technology and has contracts with more than 30 multinational companies. JP 3E makes the commodities transactions, and MetaRock provides its patented trade platform.Â
MetaRock’s intellectual property portfolio of mostly patented technologies, consisting of nine patents. With the block chain configuration, JP 3E said transactions are completed safely and will reduce the fear of loss of capital or payment without receiving the bargained-for goods.
The resulting transactional integrity and assurances will finalize the transaction – payment to the seller and goods delivered to the buyer, without risk of a payment without receipt of the goods or transmission of the goods without payment.
John K. Park will be the chief executive officer of the combined company and Jong-woo Kim, CEO and chairman of MetaRock, will be appointed as president of JP 3E.
Park, who serves as CEO, chairman and president of JP 3E, said, “Now that we have MetaRock on board, as a wholly-owned subsidiary, we can continue on track with our previously announced growth strategies. Their patented technology is the glue required for transaction consummation.”
Jong-woo Kim, the CEO and chairman of MetaRock, said, “Joining the JP 3E team is something that we here at MetaRock take great pride in doing as we believe we can greatly contribute to getting the company in a position to meet Nasdaq qualifications and make our unique technologies, the profound success we could only previously imagine.”
JP 3E Holdings was formerly known as Spooz Inc. By completing its transaction for MetaRock, the company was able to become listed on the Nasdaq stock exchange and will trade in its ticker symbol of SPZID — where it will trade for the next 20 business days — for the new ticker symbol JPTE. JP 3E also will reduce its authorized shares to 1.2 million.
