Interups Inc (ITUP)

[karlacorn3]

Thanks! It's not always easy keeping up with disparate information.
Thanks again explaining.
K

[palaypu0406]

I have already explained this before Karlacorn --

Even if we the apex body clears on coming Friday, notification to the remittance bank happens only on the next working day, which at the earliest is 16th as 15th Monday is Festival Holiday in India (Sankranti). And assuming the remittance bank endorsed the wire the same day, it comes and sits in US Account on the 16th. We need to follow 7 days notice from that day plus 1 day for carrying wires and this is hence 24th as the Date.

This is exactly what I have written even last time that we will get paid on 17th assuming that we will receive clearance by the 9th. However, we are still anticipating clearance in the same week but by Friday. But, because of weekend plus Monday being a festival holiday, wire is pushed for 16th.

Laxmi Prasad

[karlacorn3]

Laxmi can you share why with the remittance coming at any time before the 15th, the payout date is 7 to 9 days after the 15th... noting these are all electronic transaction?

Then there is still the 16th date, right?

K

[snow]

Thanks for the update regarding the coming remittance Laxmi. I find it encouraging that you have received confirmation that the remittance will be received in the US by the middle of this month and that the date of the remittance can be fixed.

[palaypu0406]

received updates that we will have clearance for remittance any time before the Jan 15. We can safely keep 23rd / 24 Jan as cashgrant payout date. I will have more updates after working hours and we can firm up the date but we can safely assume 23rd Jan / 24th Jan as a safe date.

[palaypu0406]

We will know today India time or we have to reschedule it by a week.
By morning CA time, I will be updating!

[karlacorn3]

Good evening Laxmi. We're one week away from our restated milestone! All set?👍️

[RealDutch]

Happy New Year, Snow.

[snow]

Moreover, India appears to be a very dynamic country these days with a high growth rate. To me it seems very adcantageous to have strong links to india. China seems to be paling in comparison. The population is getting quite old. There now seem to be few big investment that make much financial sense any longer. There is a glut when it comes to housing with a lot of houses empty. There seem to be more railroad lines than what is financially sensible.

[palaypu0406]

Rightly guessed RD, All three of it ....
Plus,
(1) the excitement that we will be activating fractional plane seats in the first quarter.
(2) A large Bank (I cannot name the bank for confidentiality reasons) will be extending purchasing power TEN Fold for our token buyers...
(3) Our Focus on Nigeria will give us deep deep pockets as the world economic dynamics will change in the next 30 years...
ITs GDP is expected to cross 4.2 trillion by 2040 and population is expected to match US level...
(4) We will be working on SPACs ...and this implies our market capitalization will turn into real-time market dynamics!

2024 will be a very memorable year for all of us!

[snow]

Thanks for the information and a happy new year RD!

[RealDutch]

If I had to guess it's because

1) he will soon have access to a lot of capital. He has always been living on the edge. And the dividends is a big deal for him too.
2) A big partner that we signed up with recently which is probably best not to disclose
3) He is a big fan of food carts IMO. And he must also be excited about the 5 projects in Africa.

[_lance]

Happy New Year, everyone! Looking forward to a great year here 🥳

[snow]

RD' I have the impression that Laxmi's optimism and confidence is now stronger than ever before. I assume there must be a reason for it.

[snow]

Dear Laxmi,

I wish you and the people who work with you a very happy year too! I also thank you for your unflagging endeavor to reach your goals despite the strong headwinds you meet now and then.

[RealDutch]

Happy New Year. 🥳

2024 should be and will be, and will go down in history as the best year for ITUP and Cow Group.

I just searched back a year ago to see if the same was said about 2023 but to our credit, it wasn't. There was nothing said about 2023 And it didn't turn out to be such a great year. Although good progress was made on some fronts.

[palaypu0406]

Happy new year 🥳
We will make this year the most celebrating year of all of our lives — I owe every blood cell of mine to everyone of you listed here and it’s my commitment and promise that we will make this 2024 the most celebrated year —- thanking all of you one more time let’s write a new page in the corporate history of America 🇺🇸 ❤️❤️❤️❤️❤️🎉

[palaypu0406]

Yes Punchinello -- I will surely!!...

simple thumb rule to follow --
If The number of token holders are crossing 1,999 then we become a reporting company in 6 months and the minimum holding period turns to be 6 Months as the vertical automatically turns to be reporting company.

If the number is <2,000 then the holding period remains 12 months...

This is one reason, we pushed our pricing as a uniform $10.00 as this helps us have larger number of token holders and it helps reduce our time in turning out to be a reporting company.

[RealDutch]

Yes I know about SPZI which came back from the dead. It's just very hard to distinguish scams from legitimate companies. That is why I never looked into TIO because it would have taken too much of my time, to begin with.

[snow]

RD You aeem to have an extremely exciting futurhe ahead. I have another US investment that I have not mentioned before because I am uncertain whether that too is a scam like TIO which claimed to have a big substantial business modernising an aspect of farming by using smart phones for various purposes. SPZI which came back from the dead after more than 10 years generated a profit of about 60,000 dollars for me. Its new business venture failed and it became a shell once more. Suddenly the pps was up 10 times because of a reverse takeover by a Korean businessman named John Park who had several ongoing business. I bought 9 million shares - the O/S is around 5.6 billion. So far I am up about 130 in a few weeks. If the information John Park has publisned about his businesses is not false I think the pps could at least triple next year to more than one cent. That would mean about a 7-bagger for me.

[Punchinello]

I live in the US and would like sell a few shares down the road. Will you let us know if the waiting period is 6 months or 12 months?

Do I create my wallet to sell through MyDHAN.io, soon to be MyCow.io?

[RealDutch]

The reward isn't just financially. As we will all adapt quickly to being wealthy. The real excitement will come from watching events unfold.

How much gold will we be trading a year from now? How will the food carts develop. How many planes? That one could be huge.

I can also tell you that work will begin as of Jan 1 on the 200,000 metric tons Aqua RAS facility in Nigeria. We already did some work like feasibility study but the real work will start on Jan 1. We have a team of 5 in Nigeria on this. They will start on the design and do work like soil- and water quality testing and lots more. In the mean time it is our job to raise the $930M needed for this and once we do, we will shift gears and begin construction. Remember, this RAS farm will be 10x bigger than anything else in the world today. So it will be very exciting to watch.

And related to this is the trip to Nigeria in late January. As we will have a chat with the Governor of Anambra to see what they can give us in return for all we are doing there - RAS, Oil Palm and Coconut. All these projects are huge.

[snow]

RD Your numbers are awesome. I guess we will see in some months if there is a gap between projections and what happens.

[RealDutch]

I would say $0.25 quarterly dividend for the remainder of 2024 is what we should expect.

5 active verticals. I don't expect the other 4 to join soon. Perhaps Oil Palm is supposed to be vertical 6, or, it could join the Rice vertical. Even if it is a separate vertical, it won't add much in dividends because it takes at least 4 years for the trees to grow and generate cash flow. Same applies to coconut and the Aqua RAS farm which will take 2-3 years to build.

Here is another thing. We are targeting $100 billion assets under management by 2025. Rule of thumb you can use for this is that the companies will then also be worth $100 billion. Let's be conservative and take half of that. $50 billion by 2025. Divided by 9 verticals gives $5.5 billion or a $55 share price on average per vertical. And if we get a premium for being high growth then we are looking at $100. So it is easy to see that the dividends won't be able to keep up. But at $100 I doubt that anyone will care about dividends.

[snow]

Good question RD.

[snow]

RD If the value of the tokens rises a good deal faster than the cash dividends some of us may have to start selling tokens to pay the taxes. This will be no problem if we can sell them for 10 dollars or more.

[snow]

RD My assumption based on the impression I got was that the total cash dividend would stay the same at least this year at 25 cents per quater for all 9 verticals. I just made a quick calculation in my head based on the total value of the tokens I own in the verticals and the cash dividend that has been projected. I got the impression that this total value is about 100 times (when all tokens are valued at 10 dollars) the accumulated cash dividends over 12 months.

[palaypu0406]

16th onwards, a non-us owner is eligible to sell provided the sale is consummated by a non-us person outside of the United States.
US Residents have to hold until 6-12 months from January -- Once the minimum holding period is done, company will follow Rule 144 and announce removal of restrictive legend and one is free to sell after then...

Laxmi Prasad

[RealDutch]

The question was more like, when can these tokens be sold from our wallets? In the market.

[palaypu0406]

For US persons, it is 6-12 months holding period;
For Non-US persons these tokens are tradable and salable immediately but the tokens should be sold to non-us persons and outside of the jurisdiction of the United States. There is no restriction on non-us persons to sell tokens outside of US to a non-us person. If they intend selling to any US Investor then the minimum holding period has to be followed.

[palaypu0406]

Your guess is absolutely right RD...
Plus, The bulging NAV and cash grant improvements will constantly balance each other...

[RealDutch]

One interesting question I have received from several shareholders is, when can these tokens be sold for cash? Or is it only the token series that can be sold? This is especially relevant for people who have to pay a wealth tax.

[RealDutch]

It is a coincidence that we were thinking about dividend yields at the exact same time.

Perhaps we should have paid $0.05 per vertical and maintained the $0.15 for the first distribution.
Add $0.05 for every vertical.
But we can still do that going forward. 5 verticals = $0.25. 9 verticals = $0.45

Then the dividend yield is 4 quarters x $0.05 / 10 = 2%
But like I said before, it is going to drop fast anyhow.
By year end the tokens could be worth $50.
The dividends simply won't be able to keep up.
As discussed before.
It only matters (somewhat) for the first year.

[RealDutch]

The dividend yield is 3.3% if the tokens/shares are valued at $10. Which is perfectly normal. And by itself could validate the price of $10.

0.083333 x 4 quarters / 10 = 3.3%

Well, assuming the dividend doesn't go down per vertical when we add more verticals. But even then, a 2% dividend yield could be perceived as normal.

[snow]

Dear Laxmi,

You write that you "have been busy working on Placement Memorandum with $10 as unit price ..." This makes me and I guess others curious as to what sort of units you refer to. I have done a bit of thinking regarding the value of the vertical tokens. Based on the projected cash dividends later this year and assuming a value of one dollaer for all the 9 sorts of tokens the cash transfers would seem to result in a dividend yield of about 10% per year, which is high. But if the value of each token is 10 dollars the dividend yield would be about 1%, which would seem very low compared to what is common in the stock market. Stocks seem to command very different valuations based on earnings per share net assets per share and future prospects among other things. Thus it seems very strange if all the 9 tokens are supposed to have a value of 10 dollars per token once the real business has started for all 9 of them.

[palaypu0406]

I apologize for my late response Snow, have been busy working on Placement Memorandum with $10 as unit price ...
Thank you for your note and yes the name adoption powerfully helps us...

[karlacorn3]

Sounds good, but for clarification I assume our holdings of IREEM Units will now become My Cow Inc Units, and COW shares will remain labeled as COW shares?
K

[RealDutch]

Although, as of 2021, only five of the 36 OECD countries continue to implement the wealth tax on individuals.

The five countries are Colombia, France, Norway, Spain and Switzerland

If this is true for 2023 then only 5 of us are affected by the wealth tax as far as I know.
3 from The Netherlands, you from Norway, and Jonas from Switzerland.

Netherlands also has a wealth tax. It's just called slightly different.

[snow]

RD I t hink more than 100 of rich Norwegians have moved to Switzerland after the last general election I think. To pay the wealth tax many of them have to sell shares. The gain realized will be taxed another 37.8 percent. It is a releif to me that the wealth th ax will just be based on 4 or 5 verticals. Cash dividends will provide sufficient cash to pay the tax I think.

[RealDutch]

You pay too much tax it seems. You pay tax 2 or 3 times whereas I pay tax only once. (I can get the 15% dividend tax back when I already pay a wealth tax, and we don't have capital gains tax).

https://www.taxolution.ch/swiss-tax-guide/norway-wealth-exodus/

[snow]

RD I hope it will be 4 verticals. There is also a very good aspects of these being tokens. If they are tokens in relation to wealth tax they should be regarded as tokens in relation to income tax as well. That means that when they are sold a tax rate of 22% would apply which is a bit more than 50% of the tax rate for capital gains on stocks.

[RealDutch]

For me too Snow. And I have to pay almost 2% wealth tax on stocks. But luckily it doesn't apply to tax year 2023. Because the book date is Jan 1 for us, not dec 31.

It's just the 4 or 5 verticals for now. The other ones don't have any value yet.
But we have to keep a close eye on this.

And one year later they could be worth $50 Or even $200 for Cow Agri Corp
Imagine the taxes we have to pay then
Eventually we will have to sell some tokens I guess.

[snow]

RD The implication of this would mean that I will have to save all the cash dividends for tax purposes. The cash dividends will be taxed too at a rate of either 37,8% or 22 % and the wealth tax would seem to be 1.1% x $ 10 x some 750,000 tokens.

[snow]

Dear Laxmi,

I think this sounds like a very good idea. It will make this family of companies more easily recognized as related companies and therefore serve to make them more easily noticed in the community. I assume the word cow in itself provides postive feelings in India. In the rest of the world it will remind us of the importance of india for these companies and the origin of the family that created thise companies.

[RealDutch]

Yes. That confirms what I just posted.

[RealDutch]

I'm not using DCF.

Laxmi has solved the problem for us. Because they will be selling shares/tokens for $10 to IRA clients.

This is what the Dutch tax office calls an "independent reference transaction"
And it overrules all other valuation methods.
There is some logic to this. Because $10 is what you can get for your shares in the market place, realistically.
It should be the same in Norway.
It would be very hard for you to argue that the shares are worth less than $10. If the company can sell them for $10.
And you risk being fined if you do.

So that's it. You have to use $10 per share per vertical.
If.... the company is able to sell them for $10 to IRA clients (soon).

As for the income tax or gift tax, I don't think it is relevant.
The book date was september 15 when we received the shares.
The companies didn't have any revenue. There was no independent reference transaction.
I think we can use value $0 for this purpose. Or perhaps $0.01.

[snow]

RD I have checked what seems to be the relevant information in Norway for tokens: "Finn markedsverdi for det du eide av virtuelle eiendeler" Find the market value of virtual assets. I guess that would be the tokens. I assume that would be the price at which they have been traded right before the turn of the year or earlier.

[snow]

RD "Post# of 8581
$10 x 100,000 shares x 4 verticals x 1.1% wealth tax (Norway) = $44,000 tax. lol." I don't think discounted cashflow to present-day value is a relevant basis for wealth tax in Norway. I am uncertain what is.

[snow]

RD I don`'t expecxt Laxmi to ADVISE me on valuations regarding my information to tax authorities. He cannot be exåected to be an expert on the regulations that apply imy country. But I think we are entitled to get some numbers such as net assets per share/token or the last prrice shares/tokens have changed hands in 2023 if such informtion is available. I would guess that it is only wealth tax that is relevant for me since there has been no case dividend so far. Or perhaps the tokens/shares in themselves could be construed as some sort of income since the price was so low? If that were to be the case I might be in trouble.

[palaypu0406]

But I like Masala Capital as it has that spicy touch.

But if you change it then you also have to change
Masala Agri Corp to Cow Agri Corp.
And Jonet should update the brochure for Africa

Masala Palm Africa PLC to Cow Palm Africa PLC
Masala RAS 1 Africa PLC to Cow RAS 1 Africa PLC (same for Aqua instead of RAS 1)
Masala Rice Africa PLC to Cow Rice Africa PLC

I don't know. Or we could keep "Masala".
We will change it to Cow

But you are right. Dhan is pretty meaningless. And complicated. Cow should be better.
I questioned it at the time but the decision was already made.
Yes you did....RD