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Thank you very much, Laxmi! That seems much easier administration wise, both for the company and the shareholders.
Oh, proof of ownership for the new shares (that will be provided to the shareholders as tokens). I thought we were asked to provide proof of ownership of the ITUP shares in order to get the tokens (shares) in the verticals. Sorry for the confusion.
Will do Karlacorn...
Thanks for providing this update, and for all that the team is doing to move this forward.
I look forward to seeing this move into reality in the months ahead.
The cash dividends is very easy to understand.
The vertical companies have 100M shares each(or tokens).
16.2M will be assigned to 16.2M ITUP shares (1:1) and
10.0M will be assigned to 10.0M CCAC shares (1:1)
The dividend will be paid by the vertical companies combined.
$0.15 per share (token) in december.
The complexity begins when figuring out what exactly you own.
You will owns tokens of these 4 companies and they have substructures, more series, more product tokens. And more and more will be added.
I am only showing the first 10 shareholders on the list.
I might be beneficial (and reduce the confusion) to have a graphic example of the dividend model, using a hypothetical number of shares in each segment (ITUP, etc., including the 1:1 vertical allocations on ITUP shares). Then show the payout model.
K
I have asked Lawyers to guide us to have tokens issued for these verticals that are issuing product tokens -- This will get us away from stock certificates as tokens are like any other security instruments with holding rights. Lets say, We have Masala Agri Corp and this MAC has three product tokens -- Riso (Rice SWIM), Paddy (Rice Farming) and Aroz (Rice Retailing). And we will be adding Palm, sugarcane, AQUA, Moringa, Turmeric and Tamarrind to it...MAC will be a combination of all these sub-structures -- and issuing universal agri coin representing MAC will do wonders for us...
Same is the case with -- MY Plane Seat Inc., which will have 3 sub-structures to offer fractional plane seats -- A321 N, A330 (series) and A351 (series)...
Sura Inc., will mean -- New Make and Mature whiskey and Wine..
Summarily, vision is to move into the next world using Digital Asset Tokens for the Shareholding so the exit or entry into any of these verticals could be from anywhere in the world with the ability for the investor to add, sell, exchange or draw cash anytime of day 24x7... Being US Entity, the entry for Reg S holder could be from 1 Unit to infinite number of holding with no maximum threshold unless we stipulate ...
Next 6-12 months will consolidate this and we will then move and match each vertical into SPAC and pull Interups into Direct Listing...
This is the road map...
Its the verticals Punchinello -- The whole exercise is to payout of verticals --
Cow CAP is the sponsor arm for acquiring SPAC Sponsor shares and each shareholder will have shares on the verticals that entails them for dividends.
Sorry for the confusion. I was unsure if I would get .15/share on my 48,800 CCAC shares PLUS .15/share on my new 48,800 verticals shares given on 9/15.
So it's not both.
Yes Punchi. We already discussed this on June 16 on Telegram.
You will get 48,800 x $0.15 dividend in december if they pay out $0.15
Dear Punchinello, Its both ITUP & IREEM Shareholders (that includes again ITUP and Direct Subscribers into IREEM for COW) eligible for dividends ...
Thanks, RealDutch, but won't ITUP and CCAC shareholders also get .15/share on their ITUP and CCAC shares as well? maybe I misunderstood.
I own 48,800 CCAC shares so that would be significantly more money for me.
All the vertical companies have 100M shares. So the dividend if they pay $0.15 will cost $15M.
I wonder how many millions of dollars Laxmi needs to pay the December 22 dividend? I'm sure it's a lot of money. Hopefully the token sales are very robust.
Great, thank you again for all your help. I'll start to monitor this thread more closely now that we're getting close.
These are new shares. New companies. You have to pay income tax in most countries. That is why book closure date is september 15 as the companies did not have any revenues as of that date. Which means the shares had no value = no income tax.
You need proof that you own these shares, and, that they were issued on september 15. For tax purposes.
Dividends is not going to be an issue. As I said before, they will ask for our bank account info on dec 1 and then the first dividend will be paid on dec 22.
Proof of ownership... Why can't they just get a list from somewhere?
I mean, how do other companies distributed dividends, spin-offs etc?
Will a screenshot of your broker account be good enough? I guess you might not have the answer to what counts as proof? Let's wait and see...
Not to worry. The shareholders haven't received anything yet. The next important step is to set up that email address (assuming that is still the plan) and get your number of shares verified and send you proof of ownership.
How exactly that will play out or what it means, I have some unanswered questions myself. I'm in a wait and see mode myself. I do know that not all the vertical companies are the same (so I was told) because some companies have only one serie of tokens while others have multiple series.
This one confuses me too. From what I gather, since these are private (non-listed) companies, that for now they are just allocated 1 for 1 until they can be distributed to each shareholder.
How do you distribute unlisted shares?
Physical stock certificates (I think this has been mentioned?), or is it handled digitally in some manner?
Thank you very much for answering all my questions in detail, much appreciated.
One follow-up question regarding:
Thanks. I look forward to the date/execution.
K
Thank you, RD for all the updates. I had a few more questions I'm hoping you can help with:
Do we need to verify ownership of ITUP shares, IREM/CCAC shares, or both?
Will the cash dividend apply to ITUP shares, IREM/CCAC shares, or both?
Is there still a plan to issue shares of each vertical/project to ITUP holders, or is this replaced by the cash dividend?
What is the plan for IREM/CCAC shares issued in 2022?
Sorry for all the questions, and thank you again for all the updates over the last few years.
RD That looks like a good idea in my view. It will be easy to handle in contradistinction to what happened when we signed up for shares in Ireem LLC.
What I heard is that they will set up an email address for this where people can send their details and then proof of ownership will be sent to the email address that people leave behind.
Sounds good. I would really like my request from October 2022 to be fulfilled so we all hare happy in December without "hiccups".
Laxmi recently stated the following which I believed was to enable us all to receive holdings statements: "The shareholders of Interups and IREEM LLC (Investors into Cow CAP) will have individual shares/tokens issued in each of these verticals to the extent of their holding in these two parent bodies and we have put book closure date for this as 9/15/2023."
Thanks,
K
RD Thanks a lot RD for very interesting information. Prospects seem to be very promising.
Yes, Snow. Sales are gradually ramping up. We already have 100's of sales people working for us (outsourced) and adding more and more institutions that will help us sell tokens, Using Laxmi's connections from the past. The yield is very substantial so it shouldn't be hard to sell. Which also means we may not need the big offices that we discussed earlier as the sales method has changed a bit.
And soon we will add aviation. This is a really big one.
And the 5 projects in Africa are so large that we need only one to hit our minimum sales target per year when we are working on 5 of them. So next year should be really exceptional on the sales front.
The tokens that are live now don't require a lot of capital but the 5 projects in Africa obviously do. These are different. For these we will get 25% capital from our IRA account holders which is also the limit for any project, another 25% from strategic investors and new investors, and another 50% dollar for dollar match by another institution. This is also why we want to ramp up the current 40,000 IRA accounts to 140,000 within a year.
Thanks for providing this information RD! The plans will necessitate the provision of a lot of money. Were will it come from? Is the sale of tokens progressing well based on your impression?
Not much else to say. Laxmi is still very busy with sales. We are selling our first tokens now. Rice, Gold, Whiskey.
First dividend payment from the verticals will be dec 22. They will ask for our bank account details on dec 1. The path towards that is being worked on.
RD,
Thanks for the update (please keep them coming).
Happy to share the concept design of our RAS farm for catfish in Africa. One of the 5 projects we are working on with our partners in Africa (Rice, RAS, Palm, Coconut and Sugarcane)
4 x everything you see below (Sections A,B,C and D)
4 x 3 blocks x 3 buildings x 48 tanks = 1,728 grow-out tanks.
Every tank (yellow square) is 10m x 10m
Total capacity 200,000 MT.
80,000 MT (40%) we will use for fillet processing and export.
The rest we will sell for decent prices to the locals.
Energy requirement is 40MW continuous. We will invest $190M in solar and energy storage.
We will have a water treatment facility for sourcewater and one for wastewater. And a feed plant.
And we will be profitable.
We will also be working on a 3D drawing (view from above). Which will be completed in 2-3 weeks.
This time, we will be fine ... I am not foreseeing any issues....
Sure thing. It would be nice to see this Christmas's delivery materialized. There has been a projected Christmas delivery effort each of the past few years. I hope this one hits the mark! .
As we are only 90 days away, it would an administrative benefit to see all positions documented now in order to avoid confusions at the point of distribution.
K
Thanks for keeping everyone updated, things are moving forward nicely.
Dear Karlacorn3, my head is split 10 ways to implement the launch -- I apologize for I could not and this is hence I made RD to assure that I will reply... However, I would like to assure, with tokens launching tomorrow evening US time (the most auspicious time -- we celebrate Lord Ganesh this time, who is lord of new beginnings, success, wisdom and intelligence)...
The shareholders of Interups and IREEM LLC (Investors into Cow CAP) will have individual shares/tokens issued in each of these verticals to the extent of their holding in these two parent bodies and we have put book closure date for this as 9/15/2023. And we will have nice Christmas Bonus as our first share...and then planning to make this a quarterly draw and then a monthly. The main objective to shoot this as monthly payout is to attract retirement crowd, Students, pensioners and widowers.
I request all of you to visit www.mydhan.io
We are launching Gold, Rice, Paddy, Whiskey (new make / Mature) and Plane seat Tokesn tomorrow evening with Lord's blessings on all of us !!
Palm, Sugar, Aqua (Prawn & Shrimp), CRAB, SQFT, CART (food carts) we will launch before the end of the year... and Pharma, Solar & Carbon Credits next year...
Researching on -- Cigarettes, Shipping Containers and celebrity tokenization...
It may not be exaggeration if I write from tomorrow evening each of the launching verticals will be 100 Million worth...
And I thank one and everyone for their extreme patience, extraordinary support and the spirit of confidence and trust shown and everyone here is like a family member ...I seek everyone's blessings for tomorrow and a very successful journey forward... I have to also write, in addition to the shareholding, we are also introducing shareholders welfare fund, the details of which I will announce after we release the first ever dividends...
Thanking you again,
Laxmi Prasad
Hello Laxmi. Your reply to my August 29th question is still open for me. I run two companies, so I can appreciate your proxy communication regarding your "busy status". We are sitting again on promises of ROI, which continues to be encouraging. I just want to know if prerequisite administration is done. If not we will certainly be relegated to repeating the past challenges in delivering on the premised ROI.
K
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palaypu0406
Re: palaypu0406 post# 8112
Tuesday, September 05, 2023 9:55:47 AM
Post#
8113
of 8118
Dear Karlacorn,
I am yet answer your question but will do sometime today or latest by tomorrow --
We are launching tokens for verification with Etherscan and working round the clock to get this done ...
I will reply and pardon my delayed response,
Laxmi Prasad
Par for the course. I look forward to soon.
K
Laxmi wants you to know he is very busy now. Making our first token sales. He says he will answer later.
Perhaps I can help a little bit. Ownership structure of the 4 verticals should be final very soon. We may or may not have a strategic investor coming on board which could still affect the ownership structure. Masala Capital has already filed a Form D and submitted ownership to the State of California. The 4 vertical companies should be next very soon and then the rightful owners should get some proof of ownership as well.
Laxmi, I'm following up from the 5th. We've seen lots of great numbers, exciting calculations, and agreements over the years. It would be great to see administrative pre-cursors that enable and lock-in the promised/granted assets and distributions (documented). This request should be simple to fulfill. I'm sure we're all very busy doing great things, and appreciative for the pending results. I hope you don't view this inquiry as off base.
K
Thank you! I look forward to the reply today or latest tomorrow.
K
Dear Karlacorn,
I am yet answer your question but will do sometime today or latest by tomorrow --
We are launching tokens for verification with Etherscan and working round the clock to get this done ...
I will reply and pardon my delayed response,
Laxmi Prasad
I will answer this tomorrow, Karlacorn!
Hello @Laxmi?
In case you missed my initial request I'm replying to my initial post and inserting the detailing of my question.
As I questioned last year, it seems these administrative items need to be executed to ensure delivery.
Laxmi, in October you noted that prior to a dividend payout you would need to secure shareholder data. I'm just looking for clarification regarding that exercise? I think you also noted that you would be formalizing the "in lieu of" plan for the blocked dividends that were scheduled in 2022?
From Laxmi: October 2022
(h) Dividend Payout -- We are still waiting for shareholders data from Cede & Co as it has masked market participants stock details. We have engaged a service provider who should answer us back this Monday on when they will be able to provide us complete data. From the time and date we receive this update, we will be needing 14 days for Board Approval + 10 days Finra. Assuming we get updated with data on Monday/Tuesday, this means 24 days from 17/18 October which is 10/11 November. We are delayed by 1 month but this is purely on technical grounds.
From Laxmi: December 2022
We are facing long drawn complexity and roadblock in our efforts to pay Dividends.
The regulatory framework is not clear as to the procedure to be followed by deregistered companies for declaring and paying out cash dividends.
However, After several discussions with experts on the subject and our choice to remain private for until Interups gains its muscle to get listed on NYSE, we have been advised the following path to better benefit Interups Shareholders.
The $0.48 cents we planned declaring as dividends for 2021-22 Financial Year and the quarterly $0.25 to $0.50 Cents we intend declaring as quarterly dividends per quarter in the first, second, third and 4th quarters of the year 2022-23, will instead be in the form of Sponsor Shares and Stock Warrants of Cow Capital and other 4 SPACs we are planning to organize to cover and compensate shareholders for the Year 2021-22 FY in lieu of dividend and interim dividends we planned. each Share + Stock warrant to cost $1.65 .
As you all know Interups is co-sponsoring 5 SPACs, the first one being WM and the rest four cover Real Estate including REITs, Infrastructure including InvITs, Logistics & EV Transport and Pharmaceuticals. For rendering our (ITUP) services as a co-sponsor, organizing the IPO self-underwritten and for placing Warrants we gain 6% of the 20% sponsor shares (30% shares in the 20% sponsor capital) in each of the 5 SPACs we are proposing to float. Of this 6%, 50% of it is distributed to the shareholders of ITUP and the balance 3% is allocated to the officers and directors on the board of ITUP. These 3% Sponsor Sweat shares in each of 5 SPACs in turn will get distributed to the shareholders through IREEM LLC at no cost and such distribution takes place to the credit of shareholders in the ratio of their holding in ITUP. While this is "no cost" gift to the shareholders of ITUP, as the number of shares that they get would be minimum with only 3% of 15,000,000 shares i.e., 450,000 accrue to the shareholders meaning 450:16,200 which means, ITUP shareholder would get 1 Cow Cap share for every 36 shares held in Interups. We are helpless as we cannot offer a better ratio of distribution.
This is hence, after a serious thought process, we have come up with the plan to compensate shareholders in a better way than paying cash, especially as paying cash dividends is seemingly turning very complex and time consuming.
In addition to the sponsor equity that ITUP is gaining for its shareholders, we are also participating as a strategic cash sponsor investor along with 2-3 other strategic investors for meeting working capital requirements of the SPAC until the happening of business combination. This amount is subscribed in the form of Stocks + Stock Warrants. Portion of this subscription that ITUP has undertaken as its responsible sponsor share in the SPAC, in the amount of $6,930,000 (i.e., 4,200,000 shares with 1 for 1 Stock Warrants after netting 4,000,000 shares that we are buying back on the 30th of November 2022 with 8% return on investment) shall be allocated to the remaining ITUP Shareholders (12,000,000 shares) at an issue price of $0.15 per share Plus $1.50 per Stock warrant. Balance money 4,200,000 x 1.65 - 12,000,000*0.48 => $1,170,000 shall be subsumed by COW CAP to meet Working Capital Requirements along with amount adjusted towards issuance of shares of Cow Cap.
This means 4,200,000 million shares of Cow Capital with 1:1 stock Warrants that will exchange for 1/2 share of Cow Capital shall be distributed to the remaining 12,000,000 ITUP shares. In Total, ITUP Shareholders will have 4,200,000 + 2,100,000 (In exchange for warrants when exercised) i.e.,6,300,000 shares that will unlock to them upon business combination after 18-24 months.
Thanks,
K
Great progress, thanks for updating.
Thanks, RealDutch! Very clear now.
Masala Capital, SEC filing.
https://www.sec.gov/edgar/browse/?CIK=1991657
4 more to follow.
My Plane Seat
My Gold Grams
My Whiskey
My Rice Farm
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