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The banks don't read the nonsense that is posted by some on chatboards, Snow 😀
There are only about 12 frequent readers here. Other than that, the forum is pretty much dead.
Dear Laxmi,
This is fantastic! " It is not easy at all for any startup to pass through the tough grilling that a banking group of this large size puts one into, but, we crossed their rigid scrutiny with sheer guts, transparency and confidence". Considering the allegations posted here by some very negative posters I guess you must feel enormous relief to have weathered the scrutiny by that banking group. We seem to be out of the woods not to use a well-known phrase in English.
Dear all, With blessings from Lord, many well-wishers, staff and shareholders, it brings me immense pleasure to announce that we have signed today around 8.00 AM with one of the largest banking groups in Europe for distributing our Real World Asset Tokens (6 of them initially -- Gold, Rice, Whiskey, Food Carts, Plane Seats and Real Estate). By agreement, they will undertake and distribute 20% of tokens and underwrite another 4%, in each of our verticals (six now that adds up to 37 in 3 years time). This will be historic in all of our lives and I am very emotional to share this with everyone here -- we made this possible despite the severest financial and economic challenges we encountered with months of unpaid compensation and unfilled promise to payout the cash grant -- It is not easy at all for any startup to pass through the tough grilling that a banking group of this large size puts one into, but, we crossed their rigid scrutiny with sheer guts, transparency and confidence --- The next 3 months will define and groom us into a billion dollar enterprise and what a journey we all made - I am sure we will be exampled in business schools...
2. Today evening we will also be paying out the liaison costs to have regulatory clearance and very soon it will also resolve the pause we have been facing with our breathes held tight in our lungs...
3. I will answer Karlacorn late tonight or early Monday hours....
But we are definitely progressing into a fresh lease of life....
Thanking you all for all of your kindest support and wishes to make this happen -- We made the mission impossible possible --
Very sincerely,
Laxmi Prasad
Dear Laxmi. Thank you for the reply. I look forward to receiving your email on Sunday night.
Best,
K
Dear Karlacorn3,
Kindly Pardon my delay --
I am working on certain critical issues ---
(a) Last few days have been hectic with Bankers and today morning we finalized the agreement terms and Friday morning we are receiving signing copy
(b) We are setting the Trading Platform for Gold Grains on Polygon as that would reduce the transaction gas price -- We have been hectically working into this as it has now become very imperative for this company to internally generate cash flows and this platform would help us have the banking group and sales team distribute sales
(c) I am personally working on SDIRA client sales to raise cash to clear the regulatory hurdle
(d) Working on pricing valuation matrix for the remaining 4 verticals that the banking group accepted to distribute among its customer base...
I am quite breathless on these tasks until this weekend Karlacorn and kindly permit me write to you by Sunday Late Night Hours, Its been in my mind except that my working on the above subject matters turned very critical,
Requesting you to kindly condone my delay, I promise to place my note on Sunday night for sure,
Very Sincerely,
Laxmi Prasad
Hello Laxmi. It's been five days since my inquiry wherein you stated,
Pardon me but I will be able to reply only tomorrow Karlacorn -- we have to urgently submit financial workings to the banking group and I am on it the whole day, but I will definitely respond tomorrow without fail,
Laxmi Prasad
Dear Karlacorn -- Will be sharing later today evening...working on the term-sheet that the banking group sent,
Dear Laxmi. I did not receive your email yesterday. If you did send it, please re-send it and I'll look out for it.
Regards,
K
Someone just noted to me that I should add a clarification to my Foundational Reference 🙂. I should have pasted the updated/accurate reference. The stated payout date in Post# 8264 was an error and subsequently confirmed as being the 22 of December 2023. The payout date was to be December 22, 2023.
Dear Laxmi, I look forward to your email.
Thank you,
K
Dear Karlacorn3,
Your request is professional -- in the normal course of our exchanges I would have definitely written back with absolute transparency so everyone will be able to read through.
However, we are surrounded by a few criminals here that are working with negative mindset and are attempting to dislodge the efforts we as a company are placing.
I will hence answer to you privately on your email ID and you may then place your comments on the board of my response without getting into any sensitive details -However I would like to confirm to you all i discuss everything on the spot in transparency in the internal group blog that we have among staff and shareholders and if you would like to get added there, I welcome you there and I can place my response in the group transparently in the group without having to email -- Anything is fine with me,
Sincerely,
Laxmi Prasad
Dear Laxmi. I'm happy to send an email but transparency is important for you and in acknowledgement of your point, I will not suggest confidential or sensitive discourse in a public forum. I simply want to better understand what I view as accountable actions by the "agencies". Money cannot and should not be held for 6 months. Those doing so are to be accountable and perhaps liable for the negative business impact. Who are the regulatory/government agencies? Regarding the handling of the "agencies" issues, I'm certain that patience is not the business acumen to be applied in this instance.
Foundational Reference: On November 28, 2023, Post# 8264, required action was outlined for those who would select to secure vertical positions. Payments to secure those positions was noted as, "We have to receive any pending subscription amount on or before the 4th of December 2023.". In exchange for meeting the subscription date of December 4, 2023, it was stated that subscribers would receive, "3. Cash Grant / Dividend Payout on the 22nd of December 2024.". This, in addition to business operations commitments, should be the impetuous for the agencies to reach resolution.
I don't view this as an issue of value, values, or emotional reaction. I maintain a simple business view of this, where there are only three relevant variables;
1) Secured positions
2) Agreed upon remuneration
3) Money in existence in an account not being allowed to move.
I see everything else as noise/distraction.
Please receive my communication in the respectful manner it's intended to be.
If you judge this to be sensitive discourse you can please reply to me directly or to my email address, karlacorn3@gmail.com.
Maintaining hope for a swift resolution,
K
Dear Karlacorm,
This is not the platform to discuss intricacies and any of these writings from professionals like you will only help certain criminal minds like Paladin Ocean 33 and other such few to take advantage and write inappropriately that forces a man like me to use the worst words....
If you need any sensitive information on this, you are welcome to email me and my responses are usually instantaneous and we can avoid certain shit coming from these incest animals prevailing here....
With all respects,
Laxmi Prasad
@karlacorn3 you're the only intellectual I find on this website
Rest are not questioning to him and this will add advantage to him
I will stop this scammer laxmi soon
Dear Laxmi. We're soon to be approaching 6 months to monetization for those who bought in in December 2023. Is it near a time wherein the regulatory agencies (would love to know which agencies) in question are liable to some extent? Regardless of the "issues" it seems that the company funds should not be held for so long. I'm sure these agencies would have to assume there is a negative impact to business. ...for both receiving parties and to "those" who initiated the funds?
We've been repeatedly told of "issues" without understanding the details and mitigations. We're told to be patient without understanding what we're being patient for.
K
Noted this advise Snow, Thank you !!
Dear Laxmi,
I would like to add that for the sake of fairness those who have so big value in their digital wallets that they feel a need to have the risk reduced by having more than ome of them should pay a fair fee for the extra digital wallets based on the cost of creating them. This should be paid in advance. Thereby this option would not affect other option holders or your organisation negatively in a financial way.
Thank you Snow, that is a very valuable piece that you shared and I will discuss this adoption,
One thing to consider for both Laxmi and his people and all owners of the tokens:
I googled utan issue when it comes to the risk of having high value in one digital wallet. Digital wallets are very vulnerable and if the private key is somehow lost all value in the digital wallet is lost. I made a very quick google search to see if it is possible to circumvent this risk. Here is a quick comment I found (it is expatiated but I cite only the conclusion: "Bottom line
Use at least 4 wallets: one for managing day-to-day transactions on a centralized exchange, one for hooking up to DeFi, and two for storing larger amounts of crypto in cold storage either on a hardware device or a vault.
Avoid storing significant amounts of crypto on a mobile device or in one particular wallet."
Of course the same goes for tokens as for crypto because they are based on the same technology. In our case one option would be to have a digital wallet for every vertical, or even two if the value is for instance more than a million dollars. Doing this would entail a bit more work for both parties but it seems an obvious choice to me when a lot of money is involved.
That is one way to deal with it. I know someone else who lost his password and is unable to access his wallet now. But he can't be bothered either until we can trade the tokens at least.
I will check with Laxmi how many tokens you have. And send you a private message if it deviates from what you think you own.
RD I don't and I prefer not to have that access at this stage. I guess access also means the private key. If I somehow lose the private key I have the impression that I also lose the value of the tokens in the digital wallet.
Way ahead of you Laxmi. I already sent her an email 5 days ago. No response though.
But I didn't mention it could be more user-friendly.
May we release a note for token holders RD -- Please kindly email Likki and I will also place a message...
We are planning a complete cash flow cycle for the next 3 years including our investments into extended verticals and Token Aggregator platform --
Will send this to your review this weekend,
Will ask her to update RD,
What are you going to do with the bonus tokens (between mid january and now). This was discussed and supposed to be settled 2 weeks ago. It's getting in our way now, especially for Likhitha if we don't settle this now.
What are you going to do with the bonus tokens (between mid january and now). This was discussed and supposed to be settled 2 weeks ago. It's getting in our way now, especially for Likhitha if we don't settle this now.
Snow, you still don't have access to your wallet? Most people have received their log on details in an email.
Then you can see and check how many RISO tokens you own.
We also have 2-step verification active now on the trading platform. Which means you have to click a button and then a code will be sent to your email address which you then have to use to log on.
I'm just wondering what happens with all the money raised. 20% = 20M tokens x $27. The surplus cash is roughly 20M x $20 = $400M. You already mentioned this can be used by the company for operations. But who owns it? Is this this like a capital raise?
The other thing I wonder about is how the RISO tokens will be used to purchase and sell rice. Which tokens? Not the whole 20M I assume because you don't have that kind of supply yet? And then the profits will be divided by all 72M + 20M outstanding tokens?
Dear Snow,
I deeply appreciate the points raised -- trust me, we are seeding our steps towards strengthening our environment and this is part of our agreement with the banking group that is launching the platform as token aggregator -- we will be migrating our tokens onto this platform and have successfully negotiated our substantial equity presence (20%) like how they have taken 20% interest in our verticals. Platform being lead by veteran bankers, is planned to offer a very versatile yet secure platform.
On trading, we are updated that these bankers will begin circulating to their accredited Non-US customers and I am sure their interest spread increases as progress into the trade cycles....
Will be covering more in the next few days,
Laxmi Prasad
Dear Laxmi,
Thanks for addressing in some detail a question I raised. I find the information you provide very encouraging. I have tried to analyse some numbers and it strikes me that it is crucial how fast investors are buying the 20 million units (tokens) that will be offered since this is the basis for buying rice in India. I understand how it will be very rewarding for those who buy these tokens for 27 dollars per token if all the tokens are sold. It is some sort of virtuous circle. But if only a fraction of them were to be sold it will be way less rewarding to buy them.
I don't plan to sell my tokens during the first few months but it seems wise to sell some before the end of this year to enable me to pay a substantial wealth tax based on the value of my warrants at the end of this year. The private key in digital wallets is very vulnerable. If I were to lose it before I have acquired the cash to pay the wealth tax next year I might be in great financial trouble.
Dear Paladin, Vikas, Steven or anyone for that matter --
If you guys have anything to get clarified, you have all the freedom to ask on this board but using proper language ...
There is no hesitancy from my end to address anything and everything ...and my responses are always instantaneous...
I am extending this in public footage...
I am just pitying you....)
And do not become the cause for us not accepting these people as employees as their discussion with you will be a confidentiality breach. And you have noted in public domain, in this hub, that you are interviewing some of these employees and they are talking to you internal matters of the company even before they have begun their work. And we have even served this breach on them last week...
Laxmi Prasad
Dear PaladinOcean33,
As I said, I know who you are...
2. On compensation --
we have all been working without cash compensation for over several months now and to compensate the wait, we have issued ourselves with equity into the company. And there is a specific reason for our action ...
3. On the Indian Company that you are talking about, we have responded well to them and not fallen into their Trap...
4. It is only after the Indian Company terminated these employees, we have accepted them to work for us but technically as of now, we have not endorsed any work to any single member who migrated from there because we are waiting to check any legal trap on us... I have 40 years of Industry experience and I know with what stupidity these companies react...The Company you are interviewing may have taken birth in the late 80s but I am in the industry since my age 18...Having played on the market, I know every nonsense that happens and the hidden traps... We are very careful not to fall into any of those while remaining stubborn on our steps forward...
5. I am in contact with everyone of these members who joined us, and supporting individually those who are in extreme need of cash but not as payroll and we are definitely watching everyone including those who are in interaction with you...
You are needlessly wasting your time -- I am a very open book and I keep everything in open transparency....and we probe everything 360 degrees. Please be aware the ball comes and hits one with the same speed that one attempts hitting on the wall...
You have crossed your limits of abuse time & again addressed me with improper language --
I forewarn you that I do not do anything without a legal validation and please not eat goose (i know you know what this means, but it is not the shit word)...
as it will have tremendous repercussions in your life that will make you not attempt what you are attempting on me on anyone in your lifetime...
I completely know what is happening at your end,
Lastly be aware, I am writing every bit of this in open public, whereas you, abusing me with all impoliteness, are unable to even identify yourself....
And you are writing to me of your cleanness....
Laxmi Prasad
Laxmi I have been interviewing with Datam... Company Operations managers
& Some of your so called employees
I will be publishing soon
The reason why I am here to aware rest of employees of yours, might be they are watching this but still in delusion that laxmi will not do unfair with them
Laxmi is a fraud 🤥
I don't know, Laxmi. We will see. It's not all that relevant.
The Trading moment depends on how institutional clients are referred to us or how we penetrate our own ...
Price depends on the commodities markets and our inventory cycles...
Yes, they probably trade more like SPAC shares during the first months. Flattish, low volume and boring. Hardly any movement.
I think people like you have ample time in your life on others as you have nothing else to work, I pity but that appears to be the realism...
Dear RD, Snow and All,
These STOs (RISO) are offered are to ITUP Shareholders as under Co-founder status and to non-us persons, a limited number of shares under Regular S of the US Securities Act, under Co-Founders.
2. None of the tokens/shares were issued at a price range other than between $0.01 to $0.10 per token, which price did not even cover our costs like the gas price that crypto world charges and the administrative cost of maintaining these tokens. But, That negligible amount was charged, as there should be consideration payable to have it not termed as Bonus/Grant issuance.
3. The presented financial estimates provided a reasonable comfort for us to assume a $10.00 valuation per token effective the Jan 10 2024. We have not sold or raised any capital at this price from any shareholders whatsoever as this price was not our target market price with the valuations assumed on these tokens at the end of the 5th Financial Year and the valuation assumptions were achieved using Present Value Analysis applying Discount Factors that factored company level, economic & Transaction level financial risks based on the country jurisdiction Purchasing Power Parity (PPP).
4. When negotiating with one banking group, we were able to convince them to base the price at $27 per token as that price offering, the value of the investment would double for an investor if the inventory cycling is 15 days for Gold & 45 days for Rice, subject to the fact these assumptions work as estimated and the business and factors (internal / external) function in the expected normalcy. The banking group is convinced to base this price when placing their investments to their institutional / accredited client base.
5. Price Fluctuation -- Please kindly note that the price swing on these units will not be like how investors would play on these units but on how the value of these commodities change in the market and how the Net Asset Value of the token will reflect which depends on the inventory cycling that we are averaging.
To example, Gold is now at $27.00495 per Token at the current spot price of $2,306 per Oz. Our Market Module will base the price thrice in a day depending on then prevailing spot price of Gold -- 6AM, 2PM and 10PM PDT.
5. Now how can buy or sell -- The qualifying seller, subject to regulatory adherence, can create an offer to sell in their Dash Board by accessing the Market Module.
And an interesting (either referred by the Banker's Group or by one of our representatives wherever in the world (non US)) can create an offer to purchase and it it matches, then the transaction consumes. One cannot expect the speed of execution in split of seconds like how the stock market functions but it depends at what speed the distributors (including the banking group) refer prospects to us and how quickly we close each of it... But I am foreseeing a reasonable/decent traffic after 3 months...Quite a sum that will absorb the 20 Million units and those that placed by any interested sellers like Snow (a non us person) .... Typically most of these offer and purchase will as private placement to qualifying investors as per the laws of the local jurisdiction. The trading platform is not an online broker but a market module within our system to match offers as a private placement.
Now to those who are attempt to defraud us by placing their negative mouths here on this I-Hub, I am very open to a subjective discussion if they follow professionalism, subject knowledge, decency and reasonability...If they cannot, I would ignore their fraudulent attempt until it forces us to take any necessary actions that befits their attempt to defame and defraud this company and its founders of their potential in the wide definition that it reserves our privileges.
More instructions will follow on the trading module once we successfully trial run and plug it into finality,
Sincerely,
Laxmi Prasad
This guy Laxmi will keep scamming people...I find these investors are fool & stupid
All those investors are funding not only laxmi but also to his family..they will live better life and these fools will keep on dreaming for their returns
Another 69-70 fools so called employees are waiting for their salaries from last months
No dividend no salary
Now you whoever watching this figure out were it is going
I am not sure who these few individuals are that sometimes appear without their identity and talk about others being scammed --
if anything they understand how the stocks or units on this company/group are offered, whether they are even offered to any outsider and even to insiders at what price and if the law is against such sale, then these unidentifiable elements have any right to speak on the hub that has shareholders and the management exchanging their conversation. Otherwise, I consider them as scandalous ignorable elements. As their writing is without substance and without merit and without even any identification, I can call these feeble elements that now and then flash here as big time fraudsters and scammers or with an element of vengeance / sour ... But I am advised I should not respond to any unidentified person's fraudulent attempt on this company to marginalize us....And I would not be responding to their rascal / vindictive language....
I am responsible to my shareholders and I will continue to respond to them,
Laxmi Prasad
Vika I have investments in normal shares as well. Right now they are worth about 110,000 dollars. I am not rich at all (if my tokens are more or less worthless) and live in an appoartment of about 40 m2 that I don't own. Anyway, I am 81 years and according to my will what I own when I die will help teenage girls in Nigeria by providing information about contraception.
Yes, same principle. Although I don't expect it to trade at a premium like stocks usually do in the overhyped stock market. There is probably going to be some selling pressure early on from some of the current holders but who really knows.
Laxmi knows how many tokens you own.
RD My calculation has been that I am supposed to own about 84,000 thousand tokens in each vertical because I paid in cash corresponding to about 754,000 tokens. I don't see how you arrive at a number that is about 50% higher. If I don't misunderstand the 27 dollars per token is similar to a situation where a stock is launched on the NYSE at for instance 10 dollars per share. That is based on a valuation of the stock and normally it starts trading at a certain premium. But subsequently the pps is free to move anywhere based on market sentiment. Is t his a fair analogy?
Snow, IIRC then you have close to 120,000 RISO. And 120,000 of every other vertical.
RISO tokens will be brought to market for $27. They will be issued to the public for $27. 20M of the 100M tokens will be underwritten by the banks. Same for gold and same for whiskey although I'm not sure if the price for whiskey has been determined yet. But gold is close to $27 as well.
Supply and demand. Selling pressure versus buying pressure. You know all this. The price will fluctuate. Supported (underwritten) by the banks, so that should provide some support for the token price. A year from now it could trade at $10 or $100. Depending on the factors we discussed previously like cycle rate and margins.
It's possible, that every token owner (there are close to 90 now) who owns more than 10,000 tokens will be a millionaire soon. Roughly 85% of the current shareholder base. Quite an interesting prospect.
Snow. I wish you good health and many years of life. But don't waste your money and time on this scam! I'm sorry you paid more than anyone else. But this person is accompanied by lies and bad luck. They will go with him for the rest of his life. This is not how business is done and such people end up no longer seeing the line between lies and truth and they will deceive themselves and others!
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