Interups Inc (ITUP)

[snow]

I find it refreshing and confidence-building to be able to read that people at different levels of authority are free to state what they think. That is a good way to arrive at the best decisions. It is an indication that Laxmi plays his role in a good way that RD feels free to state his mind in an outspoken way.

[RealDutch]

On Bank accounts

[RealDutch]

Not at all. I can't find anything on the internet that comes close to confirming what you are saying. And I spent 10 minutes looking for it.

[palaypu0406]

We both are discussing different subjects on finance altogether...

[palaypu0406]

Commander in Chief is a synonymous for CEO...

[RealDutch]

Chairman & Commander in Chief

What is this about? Can't we just call you CEO or something?

commander-in-chief = "a commander in charge of all the armed forces of a country or of all the forces fighting in a particular area or operation"

[RealDutch]

to 54 months (Palm) with mid-period for RAS.
We should not keep ploughing money into the project without income generation --

What are you saying? We will get 10% sweat equity early on. And 4.5% adviser fee.
This alone will give a massive boost to revenues and income
Palm (year 1) is $480M capex
RAS (farm 1) is $744M.capex

Palm requires a lot of work. A lot of preparations. Planting seeds has to start quickly. They have to deal with suppliers. Nurturing. HR. The land.

RAS is in a league of its own when it comes to effort that is required. Here you are dealing with at least a dozen suppliers, for processing, for Solar and energy Storage, for the feed plant, for all the basic materials and infrastructure. And, this is not your ordinary RAS farm. It is 10x bigger than anything out there, globally. At 200,000 TONS capacity.

[palaypu0406]

We will see --- If his time is eating up, we will definitely pull someone to focus on noodles but that is a fast buck with 500% margin...
and this will fix the capital gap we will have until all farmlands, plantations and RAS come live...

[palaypu0406]

Ours is a constructive fight...
You fight for the project and I fight on financial balancing...
both are good for the overall spectrum...

Haneesh, it is not him or us -- It is the local environment -- we cannot simply exist on Hemp in India - It is too premature and Haneesh himself is pretty new...
After the coming India elections we will eye on Hemp back...

[palaypu0406]

There is a valid reason to push carts into Nigeria and it is done after taking a deep dig into this...
The projects that we are undertaking will take 12 months (Rice) to 54 months (Palm) with mid-period for RAS.
We should not keep ploughing money into the project without income generation --
That will not be good for asset tokenization's Net Asset Value, while we will be having capital through tokens into core farming & Plantations.
To offset this idle time period, we do need to have an active vertical / segment that will support capital spend with revenue intake so working capital requirements & maintenance on Farmlands are met and self sufficiency is achieved.

And I have discussed with Alex and only upon his active interest, I have put him to take lead -- If he does not want to carry this responsibility we can deputy someone else but we are eyeing this market on daily cash generation for specific reasons to absorb the capital spending in that area... And Noodles is a fast running market with Nigeria being the 12th largest consumer of noodles...

[RealDutch]

The RAS project alone will SUCK UP all of his time.
I already warned him about it.
These RAS projects are very intensive.

[RealDutch]

He can't say NO
Haneesh couldn't say NO either.
Doesn't mean it's a good development.

You thought that his response would convince me?

You should have consulted with me first. Now I have to disagree with you in public.
But I don't mind, if you don't mind. Our last "fight" must be weeks ago

[palaypu0406]

Alex Anigbogu
1:04?PM (41 minutes ago)
to me, Laxmi

Dear Laxmi,

Duly noted, I look forward to this new opportunity.

All the best.

--
Alex Anigbogu

[RealDutch]

In Nigeria, We have recently appointed Alex Anigbogu as Managing Director Nigeria Project(s) to build and develop large scale Farming, Plantations and Aquaculture. I am entrusting him with additional responsibility to establish Food Carts with the initial introduction of Instant Noodles.

So you thought that 5 multibillion-dollar projects in Nigeria is perhaps not big enough a challenge for Alex? So you asked him to get involved with Noodles.....
This is a very bad idea IMO.
Besides, it brings back (bad) memories about the time when you asked Haneesh (Hemp Project) to trade rice for us.

Alex is not even on your payroll.
And he is the President of Arch industries. And CEO of Genesis Palm.
He is pretty busy...

[palaypu0406]

Thank you Snow, it will be an exciting journey...

[snow]

Exciting that this part of the business seems to become so big.

[palaypu0406]

I have not included Beef flavor as we have COW Capital and we regard COW as a very sacred animal.

[RyNo_23]

Very nice!


$DGC

[palaypu0406]

Laxmi Prasad
10:16?AM (0 minutes ago)
From Chairman's Desk

Dear All,

Two important announcements --
(a) Launching Instant Noodles on Food Carts
(b) Group Name Change to Dhan Group of Companies

It brings us pleasure to announce that we are entering big time into food carts introducing Cooked Noodles in USA, India, UAE, Nigeria and UK Markets. We will be using Vegetable, Chicken and SeaFood Seasoning to serve the markets.

This road map is in addition to our Indian Meal (www.MyIndianMeal.io) focus which serves with no brick and mortar presence but using 90 cloud kitchens across.

In Nigeria, We have recently appointed Alex Anigbogu as Managing Director Nigeria Project(s) to build and develop large scale Farming, Plantations and Aquaculture. I am entrusting him with additional responsibility to establish Food Carts with the initial introduction of Instant Noodles.

With a deep pricing bargain we have on Instant Noodles and Seasoning Cubes from multiple large scale producers in China, we plan to introduce prepared noodles as specialty fast food items on the carts.Towards this, I am pleased to further announce, We have arranged sourcing 90g noodle cake for $.011025 per cake (5 x 40' ft container loads =3500x90 => 315,000 noodle cakes) plus 7.76 million 10g seasoning cubes @ $0.0158 per cube.

Simultaneously, as you all know, we have MyIndianMeal (www.myindianmeal.io) that is gearing up to serve 1,000,000 meals across 100 cities worldwide with over 10,000 food carts. This will be the most versatile fractional ownership we are targeting with each cart split into 1,000 fractional units of ownership. This helps MyDhan with 10 Million fractional owners...

Further it brings us pride announcing that we are tokenizing each food cart across the globe into 1,000 Digital Asset Tokens, which helps offer each fractional owner with owning peace of the carts and earn daily revenue out of the business that each cart runs across the globe.

I am sure, next quarter, we will be adding food carts also into our shareholders' earning bucket.

2. Please kindly note, we are now Dhan Group of Companies (DGC)...

Sharing with all emotion,

Laxmi Prasad Palaypu, B.Com., ACA., CPA
Chairman & Commander in Chief
Dhan Group of Companies
www.MyDhan.io mygold.mydhan.io
www.DhanRice.com www.MyIndianMeal.io

[snow]

RD Thanks! I referred to international transfers by wire. My point was that it could save time and trouble for the entity transferring the money if the recipients did not make mistakes in providing wiring instructions. Therefore it would be a win-win to do what I suggested. I will provide the information I suggested and that you regard as the right information in Europe.

[RealDutch]

People in the US don't have IBAN numbers. They have Routing numbers. So it is not the same for everyone.

It is your responsibility to provide full details of where they have to send the money. The bank where you have your account will usually give you those details for international wires. Yoo can look it up.

But for Europeans the list that you provided is complete.
- Full name
- Account number (IBAN)
- Your address

- Bank name, SWIFT (BIC) and address.

[snow]

Dear Laxmi,
I have received the following:
"We are sending this note requesting Banking Wire Instructions from all qualifying shareholders who have subscribed to Masala Agri, MyGold Grams and My Indian Meal Security Tokens."

To avoid unnessary hassle and problems I suggest you present here and in e-mails to the relevant owners of stakes in the verticals information regarding the sort of information you need to wire us the cash in a secure way. I have a whole page with a number of open fields that AT Ameritrade uses. I think some of these are not necessary. In my view it is desirable that you present the information you would like us to send you by sending us open fields that you ask us to fill in. I can mention a few that I expect to be included: The name and the postal address of both the ultimate recipient and the recipient bank and its address. Moreover, the IBAN account number in the recipient bank is extremely important to enable rhe correct bank account to be credited. In addition the SWIFT (BIC) code of the receiving bank is all-important for the transfer to end in the right bank.

[RealDutch]

The whole thing is complicated, Snow. Only one thing can be said for certain. When you combine taxes and digital assets, things tend to get messy. And tax laws change all the time. Best to get some professional help on this.

[snow]

Thanks for the information Laxmi! I interpret this as saying that even if there is a SPAC for one of the verticals and trading starts on the NYSE what may be traded is tokens and not shares.

[snow]

RD Here is a definition of security token. It was the word token that has led me astray.
"A security token is a form of cryptocurrency that represents fractions of assets that have real value such as equity, a company or real estate. As an investment asset, Security tokens are digital assets that represent ownership or other rights to transfer value from an asset or asset class to a token." Thus security tokens are digital assets but not digital tokens.

[snow]

RD Thanks! I did not understand that virtual tokens are not the same as digital tokens and that the information of digital tkoens therefore is irrelevant. I have to look up what virtual tokens refers to.

[snow]

RD Taxation of digital tokens in Norway

"Alle inntekter fra virtuelle eiendeler er skattepliktige. Virtuelle eiendeler som kryptovaluta, digitale tokens og andre digitale verdier anses skattemessig som formuesobjekt (eiendeler). Inntekt fra formuesobjekt regnes som kapitalinntekt og skattlegges med 22 prosent."

All income from virtual possessions are taxable. Virtual possessions (assets?) like crypto currencies, digital tokens and other digital assets are regarded as capital (assets). Income from capital (assets) is considered income from principal and is taxed at a rate of 22%. I am a bit uncertain about my use of the words possessions, capital, assets and principal as translations. But it hardly affects realities if I have chosen the wrong word. In Norway capital/assets is/are taxed at a rate of a bit more than one per cent.

[RealDutch]

Right. The tax rate on Virtual assets (cryptocurrency, etc.) is 22%. But as Laxmi was trying to explain, we are not doing virtual assets. We offer security tokens which is the same as owning shares. So probably the same tax rate applies as for stock. Perhaps this helps a little bit.

[snow]

RD I think there must arisen some misunderstanding here. I provide a quotation in Norwegian. will try to translate part of it.

"Dette betyr at skatt på både utbytte og skatt på aksjegevinst for inntekståret 2022 (utbetales i 2023) er 35,2 prosent, mens for inntekståret 2023 (utbetales i 2024), er den 37,8 prosent (minus skjermingsfradraget, som altså varierer i størrelse).28. sep. 2023"

This means that taxes on both dividends and capital gains on shares for the income year 2022 is 35,2 per cent,while for the income year it is 37,8 per cent.

[RealDutch]

How are we doing today, Snow. Any more questions we can help you with?

[palaypu0406]

As said, Snow, Even after spac acquisition and combination, we would like to have tokens in lieu of shares as there is tremendous tax and value optimization if we not get back to shares...and we plan to work towards this ...there is no regulatory negativity on this and in fact SEC will welcome this measure...

[palaypu0406]

both instruments are treated the same Snow -- there is no difference unless the token is a utility token.
We are not issuing any thing as utility tokens except for those whose investment with us is not treated as equity.

[RealDutch]

Snow, in Norway the Capital Gains Tax is 22%. On digital assets it's the same.
On cash dividends it's 25%.
From what I can see.

[snow]

Dear Laxmi,

I am uncertain when it comes to interpreting the following statement: "Later on ...each of these verticals will either go for a SPAC or get into direct listing...but we will not be shifting into shares given the advantages over valuations that tokens will have over the next 2 decades... " Does this mean that even if the verticals go for a SPAC or are directly listed the entities we have bought for 1 cent each continue to be tokens and will not become listed shares? If that is the case you have thereby answered my previous question. From a taxation point of view that would seem to be hugely beneficial for me, since the tax rate for digital tokens is just a little more than 50% the tax rate that applies regrding shares/stocks.

[snow]

Thanks for the reply Laxmi! There is a tax treaty but I doubt it deals with interpreting the difference between tokens and shares. My assumption is therefore that the decisive fact is if the token or the share is regarded as a token or as a share in American law. But there may be no certain answer to that question if it is inconsequential from a taxation point of view. What is your view as a tax expert?

[palaypu0406]

We will ...and ask the shareholders to also email us a copy of the form through [e-mail] ...

[RealDutch]

You should also ask for W-8BEN or W-8BEN-E (entities) where applicable.

The thing is, for dividends paid this year, the form has to be in your (Dhan?) possession before the end of this year. I'm pretty sure of it. One of the details that I happen to remember about these forms.

[palaypu0406]

Fixing the email issue permanently...

On banking wire information, request will go out tonight ...

[RealDutch]

You did? Not to my knowledge. Unless I missed another email.

[palaypu0406]

I have already updated that the circulation seeking bank information will go on the 5th early hours...-- there is however no change on the payout day...

[palaypu0406]

Dear Material Mind,
It is still direct sales but please note, we have bunch of 42,000 + SDIRA Accounts to penetrate directly....
2. HGS and Datamatics is currently training the staff they are deputing for us on sales, support and digital & social media spread....
Their action will start from beginning of the year as this whole month goes for training and trial run...

I heavily rely on word of mouth as I am born into this direct sales natural market environment while technological advancement into digital market spread and AI adds a plus...

[palaypu0406]

This is 100% correct...

[palaypu0406]

Dear Material Mind,
We plan paying out dividends when excess cash and its reinvestment piles the inventory that we cannot manage for sales...
The optimum cut off each quarter period (month on month) helps us define the dividend percentage.
Inventory turnover for
(a) Gold -- could be 10days to weekly once and has all the potential to improve to daily turnover, but, if that means heavy inventory pile up on reinvestments, we ease that by distributing cash
(b) Rice -- could be 45 days --to improve to monthly -- fortnightly and then weekly or 10 days ...
(c) Whiskey -- weekly once or twice to improve to alternate day sales...
(d) Food Carts -- currently planned for weekly and could improve to thrice a day (in a 24 hour distribution)
(e) Fractional Plane seats -- Domestic planes --- 8-11 legs per day; international --> 36 legs per months...
and so on...
Materially dividend payouts improve as the turnover ratio betters...and we balance the inventory according to how the market absorbs the sales potential...

Later on ...each of these verticals will either go for a SPAC or get into direct listing...but we will not be shifting into shares given the advantages over valuations that tokens will have over the next 2 decades...

Laxmi Prasad

[palaypu0406]

yes Ryan -- You will have your legacy built up nicely for your kids to pass on this for generations...

[palaypu0406]

In the US, these tokens are like any other security instruments Snow and the law of dividends and its taxation prevails as it prevails for any other capital gains / dividends distribution. Summarizing so, as a non-resident recipient the tax-treaty agreement between US & Norway if any in existence prevails in computing the tax...

[RealDutch]

Best for me not to comment on this Snow. Because I'm not fully aware of the plans and/or it could still be work in progress. Thanks.

[snow]

RD I notice that you vacillate between referring to share price and token price. I think you should contribute to clarifying here in the public domain which of these alternatives is the legally correct one. Is it supposed to be the same all the time or will for instance the verticals be publically listed and tokens converted to shares? In my country cash dividends from shares are taxed at a rate that is almost twice that of disbursements from digital tokens.

[RyNo_23]

All sounds promising. My plan is to someday divide the tokens up evenly between my 5 children (after I’m gone). As always time will tell the tale $$$

[RealDutch]

Dividends simply can't keep up with growth. Not when you are growing so fast in one year, as we will.

[MaterialMind]

As always, it will depend on the dividend growth. It's all about return on capital.
If the P/E gets ridiculous, then of course I won't care about the dividends, but sell shares instead.

$0.15 quarterly pays for my life (and more). It matches my salary, more or less. And if it increases to $0.25... Then I can really relax. At $250 PPS... Oh, wow... Unimaginable.