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Sounds good.👍️
K
Please be a bit patient with this. I'm sure they have a whole team working on this.
Financial engineering a la Prasad.
Nothing to it.
Will present all valuations, cash budgets for 2024 on 1/10/24
RD, do you happen to know when statements of ownership will be provided? Some here own ITUP, IREEM, COW, My Gold Grams, Masala Agri, Global, Spacs. It seems there would be some formal statement of ownership/holdings?
K
True RD, sometimes this happens as a sheer MidasTouch..as if some celestial force is pushing it...
How does it feel to be a millionaire? Suddenly
Every vertical company is valued at $10/share? Isn't that a bit of a coincidence?
Not sure what you mean? I deleted the posts
This could be indeed what we are looking at. If the company is selling vertical shares/tokens to IRA clients for $10/piece then that is what the tax office calls an "independent reference transaction". It overrules all other valuation methods. This is the value we should use for tax purposes.
On the bright side, a lot of of millionaires will be born.
$10 x 100,000 shares x 4 verticals x 1.1% wealth tax (Norway) = $44,000 tax. lol.
Taxes... guess we all have to figure this out. Good problem to have I guess.
Appreciate the updates. Looking forward to 2024
I was a mod but I guess there hasn't been enough activity here to keep the status active. I will make some posts and reapply.
I can't. And there are no moderators. Someone will have to sign up first as moderator. Not an employee like me.
We have issued tokens RD not shares...Its 100 million tokens...
the $0.01 is $10 worth effective Jan 1, 2024...based on financial projections discounted for 12/31/23.
What does it mean for the vertical shares? How are they valued in relation to the tokens? That is what we want to know.
Dear Laxmi. Great to hear! Thanks for the confirmation.
K
Thanks for this information.
K
RD
I also read that Norway abolished the gift tax in 2014? This may affect you as well. Because you are not an employee, so the income tax does probably not apply to you. Unless they redefined the "income tax" to include gifts of course. You never know."
I think it is not clear how the verticals will affect any wealth tax in Norway. I hope Laxmi will provide necessary information about net assets or any more relevant valuation at the end of 2023. One possibility is to value the verticals based on what I paid for them. The gift tax was abolished all right. It related to personal gifts as far as I know. I wonder if you refer to death duties in fact. Those were abolished too. Income tax may apply when I get the first dividend and it is regarded as s share and not a token. As I have suggested before: in the latter case a capital income tax may apply. It is only 22% whereas the ordinary income tax is 37.8%.
---
I've been reading a bit more about taxes. Because I'm curious. I have a pretty good idea now how it works for me in The Netherlands.
We both have a wealth tax. Yours is close to 1.1% and mine almost 2% on stocks (and much less on cash) for 2023.
Here is another difference
RD Thanks a lot! It will be very interesting to see the detailed planning and budgetting in not so many days.
We can get up to 25% for projects from the IRA accounts. Let's assume $600M. (IRA accounts will grow from 42,000 to 150,000 next year).
We can get another $600M from FCG dollar-for-dollar match which will give us $1.2 billion.
And another 50% public money will give us a total of $2.4 billion.
This money we will need specifically for our 5 projects in Nigeria. Amongst other things.
Laxmi will present detailed planning and budgetting on Jan 10. For 2024-2025.
FCG. Not FGC.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173385597&txt2find=fcg
There are several references in 2021 you can find as well on this board.
I find at very encouraging that at this stage you seem so upbeat Laxmi. I for one don't care if the remittance is a few days after January 10. I wish you a very happy and successful new year!
RD FGC I googled it and did not find out what those letters mean.
What three letters don't you understand? I don't see anything strange in my post.
Dear Karlacom, As a qualified accountant with 34 years in the industry my language goes like that ... .
But, payout is certain this time which is the essential bottomline, we are all receiving Cash Grants @ $0.083333 per vertical on 3 verticals and this includes me
There is just one clearance pending for inward remittance and I am sure we will have it latest by the 2nd or 3rd January
By procedure, we will need 7 days from then to send cash grant remittances and even if we receive clearance by the 3rd we are still good for 10th January.
If for any bloody reasons clearance takes beyond 3rd, then we will trigger the payout with a 7 day process requirement but under all circumstances this will not cross 16th/17th of January 2024 and I am scheduling the next payout for the quarter ending Feb 28, 2024 within 45 days from that quarter closure. .
You can take this as confirmed. We will have money in our accounts.. Nothing will stop us this time, I am confident we will make it on 10th, if in the worst ...latest by 17th January, 2024. From our end, mentally & physically with all of my senses in full conscious, we will have this paid out and we will continue these payments every quarter and progress it to monthly payout.
Nothing is going to stop us -- 2024 will begin with the promise filled in high esteem and we will see many landmarks for all of us...
On 10th January I am infact planning to announce one additional surprise bucket -- we will have a great year Karlacom!!!
I just meant next week, Monday is a holiday, New Year's Day. Not that many business days left until the 10th, and my faith in the work ethics of government officials is... not that high. Especially not just after a holiday.
RD Thanks for the information! I don't understand what you refer to by the following statement: "But the important thing is that we are securing dividend payments not only for this quarter but for the next 3 quarters as well, resulting in a total $1 payout per share annually." You refer to three letters that are unknown to me when it comes to meaning.
What new year holiday? This isn't China
I sure hope whoever issues the FEMA approval doesn't slack off during the New Year holidays.
We are waiting for money out of India from 2 asset sales. $25M + $27M.
As most things appear to be struggles for startup companies, repatriation can be a bitch too. Certain procedures have to be followed. We already have the tax certificate. We are waiting now for FEMA approval, a final step. We should be very close.
And we can double that money dollar-for-dollar with FCG, resulting in $108M.
The exact timing is impossible to predict with 100% certainty. But the important thing is that we are securing dividend payments not only for this quarter but for the next 3 quarters as well, resulting in a total $1 payout per share annually.
I hope that explains it. Thanks.
Thanks for the positive reply. I do have a question regarding you saying “I think…”. It seems that there was a matter of administrative execution that prohibited the promised December 22nd date. The new modified promise and assurance for January 10th date was qualified as an absolute, so I’m respectfully seeking clarification on the “I think…” segment of your message?
K
I think we are good for the date Karlacom,
Hello Laxmi. Are we still locked into this date with all certainty?
K
We are adopting 1,920,000 Grains (10 Bricks of 400 Ounces) of 999.9 Purity split into 1,920,000 tokens as our inventory with a sourcing cost of $8,702,480 and market price ($10,622,480). Trade Cycles every 2-3 days in year 1...time for generating 1grain gold 13.60 days...We will speak of EPS and Market Capitalization after 6 months....and adjsut the variables (like trade cycles and time it consumes for generating 1 grain of gold for every grain of gold invested)...
We are assuming 50 cents as expenses for every dollar gained on 1 grain of gold, and after taxes this nets to 33 US cents..., which means 4.53/0.333 = 13.60 days to generate 1 free grain into reinvestment...
Sincerely,
Laxmi Prasad
Thanks for this interesting information Laxmi!
The next 4 months will give us that pulse and accordingly we will get into real time estimations.
For now, we have kept all scenarios in place -- 2 days, 3 days, 5 days, 6 days, 1 Week, 10 days, 12 days and 15 days inventory cycling.
Best scenario is having low inventory, high turnover --> optimum is 1-8 bricks. Upto 8 Bricks inventory (100 Kilos nearly) we can definitely sell and recycle sales...
Thanks very much Laxmi! These are very bullish numbers. I understand that they are based on the assumptions you mention. What may be at least as interesting is what numbers are achieved in practice in relation to the numbers in the assumptions you mention. I take it that such numbers will be available before long too.
Exactly. That was my point. 🙌
Thank you RD, that is a very valid point --
We can push 10 Bricks (approximately 124.41 Kilos) and assume 2-3 days inventory cycling (vs average 5 days on a 5 year cycle) ...
It means a total of 1.92 Million granules with $10.59 million investment value...
Year end it will be 15 million (3 days cycle) - 22 million (2 days cycle) grains after paying out 25% dividends.
In value, this will be $64-96 million after paying dividends.
In the worst this could be $38 to $57 million with 9m to 13.5 m grains accumulated by the end of the year...
This implies 3.6 to 9 times capital multiplication in 12 months time assuming 2-3 days sales cycling.
Again, these figures look astonishingly speculative but if one goes by financial acumen, this compounding is possible.
We are presenting this discussion purely for one to understand the power of compounding and how we are adopting this for gold.
All discussion on figures is purely for learning purpose but cannot be taken as guaranteed -- one has to follow prudence and his or own risk bearing capacity in making their investment choices. As MyDhan team, we will ensure and undertake deep financial prowess in our attempt to gain much of the expectated result.
I can imagine, Snow
But even at my age of 54, I am only interested in the results after one year. Especially when considering how much money I will make next year
RD "As people will be interested in how much money we can make in 1 year. Not 5 years from now." At my age of 81 at least I am much more interested in what can be expected to happen in year 1 than in year 5.
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