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RD Thanks! What you state suggests that perhaps Digishares uses the Ethereum blockchain technology?
Ethereum is a blockchain technology/network and Digishares is a trading platform. They are not the same. One cannot replace the other IMO. Although my knowledge of this is limited in general. I'm not aware of cancelling or replacing Digishares.
There are indeed some major developments going on with several banks that may or may not involve Digishares. But again, I'm probably not aware of the details 😄. And it is best for me not to discuss this publicly.
RD There is another point that puzzles me. My impression used to be that the platform Digishares was the one to be used. More recently I had the impression that Digishares was not to be used any longer and had been replaced by Etereum and I think you presented a schreenshot about RISO using that platform. Has the latter been discarded and there is a return to Digishares? I understand that cooperation with some big banks in Europe could make that change of trading platform desirable, since my impression is that Bitcoin and other trading platforms like Ethereum are regarded with suspicion by some banks that fear laundering of money.
Could you explain please how this works? The way I understand it there will be 2 series or RISO. One is our equity (the 77M RISO tokens that have been issued) and the other one is the token being offered to clients backed by Basmati Rice. How many kg is it now? Is the price the same or different? Or is there just one serie?
I guess the same question applies to gold.
Dear All, very happy to write to you that today we could successfully trial trading of RISO Token on the market place module -- we listed the price @ $27 per RISO token. We plan listing the initial offer on SIRI (Gold SWIM Token) for $27.54 as at this price, investment is expected to offer 100% returns in 5 years time on a 15 days inventory cycle, if other factors remain neutral (Investor has to make their own prudent judgement or consult with their professional investment advisors prior to considering/making any investment and not consider any of company's hopes and expectations on the token price as guaranteed though the company and its management and staff may put their best effort and practice). Now that we have achieved a successful trial run, we will be discussing with Digishares and the Banking Group to set the trading platform active.. This is expected to change our dynamics rapidly. It brings me tons of happiness -- cant express but I am in tears for all of us )
Will be relaying public circulation very soon once we discuss with the bankers and Digi shares, but the trading platform is ready. Gaining strength )
The email was resent today so I was able to set everything up. The updated wallet shows my tokens now, thank you!
Thank you for your response, I was checking the portfolio I created. I don't believe I received the email with the additional wallet and tokens so that may be the issue.
Dear Shaun,
You were indeed issued with tokens and let me check with Likhitha if the mail confirming your tokens and wallet details.
@RealDutch Hi, what should I do if I haven't received any tokens in my portfolio yet? I sent an email to Laxmi and Likhitha but haven't received a response yet.
The difference is one year.
For tax year 2023 I have to use January 1 for wealth tax. (we didn't have any tokens back then). You have to use december 31.
RD To me it looks like a difference of one day.
You have to report what you own, on december 31, as far as I know.
For Norway it is december 31 for 2023.
For The Netherlands it is January 1 for 2023. Difference of a year.
RD RD Thanks a lot for this assessment! I feel this is the simplest way to assess the value at the end of December. The situation being what it is I think I can present this number to the tax authorities in good faith.
RD I really meant the turn of the year. As far as I remember if the value is 10 (to use an arbitrary number) at the end of December and 11 at the beginning of January the relevant value is 10.5.
Yes, that will give him something to do 😄
Thank you and please also copy Mike so he can follow the calculations for the rest,
I will recalculate the bonus based on a $10 price. Outstanding as of April 15. Issue date will be April 15. For income tax we will use $25.
That would be best. I am far more comfortable with an issue date of mid April for these than mid January (which would result in a conflict for whiskey valued at $0.01 on Jan 16)
I will send an email to Likhitha in an hour or so and a copy to you.
You can decide and make it final tomorrow.
We are not changing the previous bonus, it is only on the current conversion on the remaining that will have $25 price adoption for issuance of additional bonus tokens.
Given the markets for Gold (what we assumed in financial estimates as the expected price of gold $2422.26, we have seen breaching it today itself), rice and whiskey, I am sure we will have a decent upscale by the year end, given the war environment and sluggish economy coupled with inflationary pressures and high dollar value vs other currencies...
Actually in this case I will get less tokens (for $25) than I had previously (for $10)
It doesn't add up.
We adopted $10 as value during 2nd Half of January ..Base Value for Dec 23 remains $0.01
For 2024 Dec, we should be prepared for a market value above $25 given the current trend that sequenced us to set the price @ $25.
99.99% it will not be less than $25.
It is fair to compute until the April 15 as we are paying out after this date. This should hence be recalculated RD. please update Likhitha and I will ask Mike to redo this for all others.
For Income Tax purpose, Income will be $25 per token x number of bonus grant tokens ...
Huh? The wealth tax applies to december 31. In Norway. (In the Netherlands it is Jan 1, so one year later). He needs to know the value on dec 31, for the wealth tax.
Nothing to worry about Snow. You should use $0.01 value for the wealth tax on dec 31 for the 3 verticals.
Two reasons.
1) as of dec 31 these 3 companies had zero revenues and income, so it shouldn't be hard to convinve the tax agency that they had no value.
2) Even now, the nominal value is $25. Which is not a guarantee it will stay that way. Only if the company executes its plans. The market value as of dec 31, 2024 will be determined by the price it trades at. So for 2024 it should be easy to determine. In fact, we will probably get an overview of the value of our wallet from Digishares, same as any other broker. Which we can use to determine the wealth tax, starting in 2024. But for 2023 we will not get such overview because we didn' t have a wallet yet.
The valuation basis may be taken as being adopted on today's date and not as of 12.31.2023 Snow...
Dear Laxmi,
From one point of view the sharply increased valuation sounds fantastic. If those values had obtained at the end of last year the result would have been a wealth tax for me based on just these three types of tokens of about 60,000 dollars. I would have to sell shares to pay that tax which would mean that I would have to sell about 50% of my shares. This causes me to worry.
The base value would be $0.01 except for tokens issued for staff in 4 verticals @ $10.00 against outstanding compensation.
Issue dates are the dates you have input RD...
Food Carts -- We can take Dec 22 as the date for issuance...
Whiskey & Plain Seats It is 16 Jan 2024...
Issue Date for Bonus should be assumed as April 15 as we are compensating these tokens until this point as outstanding.
And the base value for Bonus Grant should be $0.00 as it costs nothing to the staff.
2.5 x more taxes to pay. On the bonus tokens that were issued to employees in January. (For the income tax in 2024)
( Question1) Do you have an exact issuance date for the bonus tokens? I'm going to need it to determine the exchange rate (on a certain date) for the income tax. Makes me wonder whether we shouldn't just use $0.01 as value for the bonus shares that were issued to employees (Question 2). However, the number of tokens were determined based on a $10 price. So perhaps we should still use that price? For the income tax. Although, the only reference transaction price we have is from late 2023 and it was $0.01 then.
These are the issuance dates I have for now.
Verticals Issue date
Gold - 15-sep-23
Rice - 15-sep-23
Food Carts - dec-23
Whiskey - 16-jan-24
Plane Seats - 16-jan-24
Perhaps you have a more exact date for Food Carts? (Question 3). Again, I need it to determine the exchange rate (in Euros).
And this raises another question. If the whiskey tokens were issued for $0.01 on Jan 16 then how can the whiskey bonus tokens be valued at $10 at roughly the same time? Because the bonus tokens were issued in January. (Question 4)
Dear all—
Very happy to announce that we are moving our token value to $25 per token and adjusting the asset quantities to match the token price — this is what we are being advised — to move the price on gold, rice and whiskey token pricing from $10 to $25 given the current market situation.
There is heavy absorption into these commodities for preserving, stocking and redistributing because of the war zones and other stressful conditions the world is passing through and I am advised that it makes no sense to undervalue the token but manage the price and stabilise it with optimized inventory turnover and supply chain management …
I have asked Likhitha to set the valuation henceforth and I will be submitting to the banking group our revised valuation estimate before I leave for Hong Kong and we unlock the trading in tokens ….
Very happy to share this development as each token will be worth 2.5 times more now...
Laxmi Prasad
Shut Up shameless laxmi
I got this on internet you don't have money to payback investors money.. you want instalment to pay them and you call yourself entrepreneur...only fool will believe you
https://www.complaintsboard.com/laxmi-palaypu-ibsn-inc-siriworldcom-fraud-and-money-scam-c682907
I acknowledge there are some very close people to whom I have to return either gold or money. And I am not sure if you are all these people. To my conscious knowledge I have to pay money to very few people in number. Of these, to some I did payback in instalments and to some I am almost there to close the accounts. And to few others I have to pay still. I have never told anyone that I lost and they should lose because of the consequences I faced. And these few others not even cross double digit. And it is a fact that I appealed to these people to offer me time. Even to Rama, I have been asking him to permit me pay even as low amounts as $250 monthly to payback. I have been appealing this to him for over 2 years. If I was allowed by this time his account at leat would have got closed for me. I appeal that by
https://indiankanoon.org/doc/1025931/
This is the case on the PTFE project I am talking about -- that took the financial life of one entrepreneur (my brother) -- The pathetic situation, even if the commission granted financial compensation, the agency went for appeal and it is pending in courts ruining the life of an entrepreneur ....and bloody banks are the cause of it....
PaladinOcean33 --- Please do not make piggish comments anymore; Not sure who you are but respect the lives of an entrepreneur....before making bloody hell comments that we speak lies.....
Stop this mindless attitude!
Laxmi Prasad
Yes RD,
Goal is to have this enabled and we are trialing with $10 a token ...
There is a solid technical reason to put the base price @ $10 and we have discussed this earlier....
And once the trading begins and we start cycling the inventory, the NAV will stabilize based on how successfully we are churning the inventory....
I do not have time for mindless idiots and pigs hovering over eating the smush!!
I do not have time for mindless idiots!
$10 would be nice 😃
Indeed it's required more energy and strength to spread lies all-over the world ...you need it
Only stupid will believe you & your stories laxmi
You never provide any particular proof or links to believe
You are philosopher & story teller nothing else
Thank you Snow and yes I am bestowed with all of your support and blessings!!
This month is very critical for all us and these blessing indeed offer me tons of energy and strength,
Laxmi Prasad
Vika You did not understand that this was no real question. You seem not to have noticed the use of the word "something". It suggests that the apparent question is directed to nobody in particular. My intention was to try to make Laxmi pleased rather than to pester him with an unnecessary question. He regards us as part of his family and my impression is that he is happy to spend a bit of time for that purpose.
Thank you Vika1 for your kind advise --
Yes working very focussed on multiple action threads including the cash grant ...
And thank you for understanding and advising others to allow me to focus on my work!!
Yes Snow, The name signifies Goddess of Wealth Laxmi (Also written as Goddess Lakshmi)...
And thank you for your kind words -- I am deeply obliged!!
I am not addressing to you as a standalone reader PaladinOcean33 -- I do not even know who you are ...
I addressed the matter in general...as why we do not go for borrowing...
Do not distract the person with stupid questions; he is making a dividend transfer.
Dear Laxmi,
One day late I would like to congratulate you very much on your birthday yesterday! A bird chirped... I found the following information on internet that may be a good omen: "The chirping of birds is believed to carry spiritual messages and omens. Different types of birds are associated with different deities and have specific symbolic meanings. For example, the chirping of a peacock is believed to bring blessings from the goddess Lakshmi, the deity of wealth and prosperity." Does it signify something that your first name is very close to the deity of wealth and prosperity?
Laxmi,
Send me the link of the matter what happened to your brother ..let me see how truthful the matter is upto
Don't give history lessons here I don't need
Thanks
Dear Karlacorn,
Thank you for the note -- Yes PTFE has wide applications...
Unfortunately it was a long court battle for him and by the time the courts decided the unit was liquidated by banks.
Once the tokenization sets in place, I would like to help him establish this unit back ...
It is like his dream child...
I am quite excited to learn your knowledge into this Karlakorn,
Sincerely,
Laxmi Prasad
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