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Karlacorn, the final step in the process (getting FEMA approval in India) can take up to 90 days. We are well past 30 days now. Probably half-way. However, if we don't get any inquiries from the central bank by tomorrow then it was said by our lawyers in India that the money will be released on February 16. We should have that update in a few days. Even then, I think we need 2-3 weeks in escrow in order to double that money from $54M to $108M with help of a financial partner (dollar for dollar match).
So we are probably looking at March when the dividend will be paid. I don't see how it can happen in February. The important thing is to get the first cross-border transaction done. Then subsequent transfers, which we are also planning, will be a lot quicker.
RD, being just beyond one week (halfway point), are their any indicators or updates regarding the intent to pay the dividends at the two week mark?
Thanks
K
But professionally, I have my responsibility to address on Mission 101 and I will -- As a company we take decisions that meaningfully increase our bottomline profits without changing our fundamental goal and mission. We do not go by emotions. Our plan was to have 1,728 staff to handle sales and the original idea was to have this mission 101 campus as it perfectly fits our requirement. However, one financial industry veteran advised us not to centralize field management but spread them into local capsules and use the money saved on fixed establishment on line items that will increase our spread globally. And the result -- we have 216 members trained and ready to work for us remotely from multiple geographic locations. This not just saved us on rent but heavily on compensation -- Against a minimum wage of $20 an hour for base staff (skilled or unskilled), we are able to have highly qualified professional staff for half the cost almost. What matters for an organization is to be able to withstand the economic rout happening everywhere and remain strong... yes we evolve continuously and our decisions will change dynamically with the trend and it has been our core strength to remain live in all weathers. Our business never stopped -- the entire verticals are actively moving forward despite all the hardships and challenges we face - Unlike what you have unlawfully asserted that we are drawing shareholder funds, we (which means one and every member in the group including myself) have so far drawn compensation as equity but not in cash and the cash we pay now and then is barely sufficient as expense reimbursements. I can go on record in public here that every dollar that is taken from anyone is spent judiciously for the purpose of business and nothing else. We are placing our blood, holding our stomachs, unlike the way you spoke and most of the shareholders know with what commitment we are taking this vision forward that will shortly unlock the horns of the bull run we will have. Yes, to build Rome -- to build an empire and to build an enterprise that is envisioned to remain as a legacy takes time but the concrete that we have poured is so strong that it will help us wither even Tsunamis ....And I have already answered on $0.01 that we seek.. I have already gone on record that we received a very feeble amount and we have not even encouraged those wanting to pay this later as the whole purpose of seeking this fractional money (one cent) was not to have money but to not to have those who do not have faith in our efforts. To the extent, we already intimated that non-subscribers will be issued utility tokens in the verticals that they simply redeem and quit. Time will testify Laxmi Prasad, this organization and the reasons why 99% of shareholders strongly back the efforts ignoring disparage. Yes we are delayed but not for wrongful reasons -- I have been on this blog for more than a few years and I am still here and I will still be here ...When the conduct is transparent and people believe that conduct, no evil can torment us ....
Laxmi Prasad
And I am advised by my shareholders and staff to ignore all piggish messages ...
Even my strong responses to your unlawful messages were deleted, advising me that a man who has a mission should ignore street talk. And I promised them I will... We will handle you later...
What suggests that your "information" is not correct is that for almost one and a half year RD has been working for Laxmi and until the trouble with the transfer of a large sum of money from India to the USA received his considerable salary at the right dates as far as I know. The same thing goes for another person whom I have been communicating with for quite a few years. Do you think these people would continued working for Laxmi for over a year if they thought he is a swindler?
Ofcourse they would. RD is even willing to let himself be setup for the fall getting people to take out loans.
That money pays their wages. Don't you get it?
Your world is ending and you don't even realize it.
You don't scare me. I looked you dead in the eyes twice already.
The law is coming for you scammer.
Good luck !
Dear Vika1,
I have not hidden my name here and my responses are clean --
And I never have written /used foul language on anyone unless it provokes me to that extent.
I have dared asking name and told I am prepared to fight this out in the court which implies my preparedness to respond before the court and the law
I have openly forwarded my background check outcomes on becoming the CEO of a public company SPAC that we were taking over...
On company's information reporting, there were enough explanations offered here publicly and we have never crossed the stipulations established for reporting --
Please check guidelines for OTC Pink Sheets for reporting formalities ....
Same, we never hesitated to de-register ourselves and we have clearly spilled the beans for taking such a decision despite having the privileges to remain a Pink Sheet.
And on information sharing, We have taken a step ahead to have shareholders and staff blog and we discuss developments on a daily basis.... This transparency goes beyond the normal shareholders reporting requirement that corporate law defined.
Even on the cash grant promised -- you are offering 90 days time, we have taken the commitment a step forward by taking decision to issue Utility Tokens with cash payout or redemption in Gold Grams on March 15 making ourselves legally binding. Utility Tokens are performance Tokens and act in a way like Negotiable Instruments making ourselves binding to the UCC (United States' Uniform Commercial Code).
We have achieved 2 things here, Tokenizing the Verticals and tokenizing the obligation itself.
The other thing I would like to mention here -- on the $0.01 vs $0.0001 you have spoken --
For us Equity is the best monetary instrument and our value is swiftly changing and there are specific guidelines to follow the valuation aspects...
There has to be some measurement of cost for vertical shares as otherwise the shares itself will tantamount to bonus grant...
And $0.01 is virtually no cost while it is certainly cost above the par value. We have balanced legal and technical issue here by asking for $0.01...
This amount has not built any castles for us...but It helped us takeoff certain shareholders who have no faith and belief in us...
And to these people we have openly declared issuance of Utility token for redemption on the date with gold grams. Plus we are facilitating trading of these tokens into the market -- So it will turn the choice of the person to redeem or retain...or exit partially...
On valuations, today we are selling each security token for $10.00 plus token listing and trading is possible on Reg S (Non-US) shares...
Very silently we have pulled the water and turning into a multi-billion dollar company and I should write to you every member in our small team works 24x7...we pull the challenges together and enjoy the merits of it...whether laughing or crying in equal spirit... We remain unpaid sometimes but none of us compromised or blocked the business process or progress or development.
We are not just disrupting certain financial products -- whether Gold, Rice, Whiskey or Plane Seats or food carts....We are disrupting the wealth building system itself ---even the gap between the time customer paying money and our stocking even we are providing utility tokens bringing utmost financial transparency into the system.
It has taken 50 years for Pepsi or coke to but they are the two largest brands in the world today....
Likewise, let this page remain in everyone's records --- we will be disrupting Wealth Management by Asset Tokenization -- Each Product we are introducing is an innovation by itself making some of the largest banking institutions feel surprised and their teams are working with us to explore this to the best levels...
You are looking for 90 days I have answered it a week back on cash payouts binding this company to make the payout on or before March 15, insuring it with Gold Grains.
Slandering, passing disparaging and disproportionate abuse is one's birthright but to achieve an entrepreneur's dream & vision is many nights of blood sweat...
Now on the business owner of publishing company -- please check his credentials -- That will answer you well...I do not need to waste my time on him....I was just advised by couple of senior journalists and industry heads in India to ignore him but I still went ahead and gave a public clarification leaving him to his lurch. My response was a open challenge on his claims...and I have put the best of the attorneys in India to respond to him befittingly if he misteps further.. He has poo-poohed my travel in economy class -- even 2 of the top 5 in India travel by economy class but that traveling does not demerit their size. He will run his ashes on his own...
In this world respect brings more harmony than irrational and disrespectful conversations...
Laxmi Prasad
RD I like it very much. It looks both artistic and very dynamic at the same time. Last summer I wrote more than 90 love poems inspired by a middle-aged woman. The title may be "Love? The feelings I genuinely experience and my reflections on them." I expect to send what I have written to a publisher in a few days.
Vika I bought my first shares in ITUP at a little more than 5 dollars and saw the pps jump to about 13 dollars atmost. I am familiar with the things you refer to - missing financials for several years being the most protracted. I believe this time that there have been substantial sales of assets in India. His problem is now that he has not made sure that he has not made sure that there is sufficient money in the USA to pay for expenses as they occur. Brinkmanship may have dire consequences. I have read a good deal of what Laxmi has written. To me he comes across as super intelligent and creative. My view is that it was worth the risk to invest in his companies even if the end result is not good. I have what I need materially in my life. Investment in his businesses have given me hope and excitement at least.
Snow. Excuse me. I wasn't talking about your biography. And about Laxmi. His biography makes me doubt that he can conduct business. In my opinion, he promises a lot and in most cases does not keep his promises. Which leads to the collapse of his business or ideas. I hope everything goes well for you Snow! Good luck to you! But I am 101% sure that in 60-90 days there will be a lot more reasons to postpone payments and again new promises!
Vika I admit you raise some valid issues. I have not seen any tokens and I have not as far as I am aware of received any documentatio that I own any so far. I expect to receive such documentation later this Spring and a valuation of them. If I don't receive such information I will not be able to inform tax authorities about them. But I have received documentation regarding the 100 000 shares I paid 15,000 dollars for. They were largely the basis for all the tokens i paid one cent per token for. I expect them to be real and have real value. Since they are digital I cannot have them in my hand.
You refer to my biography. Actually I wrote my self-biography about 12 years ago. I converted 25.000 dollars to 2.2 million dollars in 3-4 years by extremely successful investments about 40 years ago. I go for high risk/high reward. About 6 weeks ago I bought 9 million shares in SPZI at an average pps of $ 0.0015. I have sold half of them and have the rest for free and I have 15,000 dollars in cash that I invested in AMCI. I am hardly a moron. I have two master degrees in a European country, one of them being in law. Three percent of the candidates obtained better grades than I did.
Snow. How can you pay taxes on something you don't have? Do you have tokens in your wallet? Are they recorded? Is there a registry? Where are the tokens? Are they in Laxmi's custody? Snow, 60-90 days will pass and there will be a new song. Laxmi. I am not slandering you, I am publishing facts and information about you. Why didn't you sue those people who allegedly slander you? Yes, because these are just words again. If you look at your biography, you have a syndrome - chance is to blame, others are to blame, but not me. You have always received failures, but this is not fate, these are your actions and your wrong attitude towards business. I am not afraid of any threats from you to court, etc. In court I would have many questions about the reporting of ITUP and the company as a whole. 90 days Laxmi, 90 days! And everyone will see who you really are!
Vika1 Time will show if I get my money back. My worry during recent weeks has been that the coming summer I may have to pay a wealth tax in my country of about 50,000 dollars because I own tokens in verticals that are assumed to have a value of 10 dollars each at the end of 2023 despite the fact that it is impossible for me to sell those tokens at that price.
What suggests that your "information" is not correct is that for almost one and a half year RD has been working for Laxmi and until the trouble with the transfer of a large sum of money from India to the USA received his considerable salary at the right dates as far as I know. The same thing goes for another person whom I have been communicating with for quite a few years. Do you think these people would continued working for Laxmi for over a year if they thought he is a swindler?
Just to update you that we have a new website. Well, it is the same website but a different name and a new brand. myDhan has become MyCow.io for all of our companies.
https://www.mycow.io/
Dear All, I would not be tolerating any one posting any disparaging comments hereon and I will seek severe damages from all such people in the court of law-- this nonsense crap has to stop and I will ensure it happening...
I dare your name published here so we will fight a case in the courts and let the law decide who is attempting what...
I will seek severest damages if you are proven wrong....and If I am wrong as alleged let the law decide...
I will surely stand by my word....
I am not sure where in the world you were for these 10 years mindless crap...
Those posts have become outdated and people turned tired of these post forwards by some cockroach mindsets...
the law held background checks on this soul including on whether I can be a director on a public company and all these complaint board or other materials that you forwarded before were turned to be farce as the actual nature of those transactions were different which some uneducated brutes think they can coerce. But the law has always shown that we still can rely upon it...
I am living of this disparage for more than a decade -- when one does not conduct anything above the law he has freedom to live in this society with all rights...
And scamming -- who is doing this -- Your poor mindset..your actions are attempting to scum people for your god known vengeance that I am not aware of a bit to the bottom of my conscious mind...
Good Luck to your poorsight... We will have some fun reading them through...
Before people stone you please mind your world and show the world of non-criminal attitude.
Equally the law applies to people who are attempting abuse, defamation and disparaging and the law will be so harsh on them they will never in many more life times attempt any of this crap...
A person who does business or does business does not chat with people. He is busy with business and proves everything in deeds and not in words! Fraudsters describe great prospects in chats on forums, but with the amendment that you need to give a little money. So he’s baited you with verticals for $0.01, why not $0.0001?, that wouldn’t be $40,000, but $400, which he wouldn’t be interested in. And anyway, why promise every time. Sell ??100,000 verticals for $10 and give people their money back! If he had deceived me (which no one has succeeded in doing yet), I would have contacted the FBI. Don't sit idly by! You won't see the money anyway! And so at least others will not fall into his deception!
Information on Laxmi scammer. If you read, you will see that from the latest posts from May 2023, he deceived a person out of $100,000!
I'm sorry you gave this scammer $15,000. You are not the first and apparently not the last. It's time for you to think about writing a statement to the FBI. Since Laxmi will tell you until you are 90 years old how you will soon get rich, but in fact your money will already be spent. I feel sorry for everyone who transferred funds to him. Fedel, did you fall for the bait too? But at least you have the sense not to pay for the other verticals. Take care of yourselves people. This is a scammer and all his schemes are fraudulent. You sent money to one account, and he asked you to send money for the rest of the verticals to another account. This is done so that it is impossible to track his actions and he covers his tracks! Collected $40,000 and you can deceive others! I bet $1000 that in 90 days you will not receive $$$
https://www.complaintsboard.com/laxmi-palaypu-ibsn-inc-siriworldcom-fraud-and-money-scam-c682907
ZERO payouts, ZERO promises kept! Included the word AGAIN before ZERO to make it more accurate. WAKE UP!
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173500719
End of last year I posted already that that would be another promise to be broken. When will people wake up to the fact the man is a liar?
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173500719
"Not sure, why this crying helplessly, now and then, LVerstee, laughable isnt it?
I pity you and would like to ignore the crap ...just keep your stock ready for donating ... This is what you wrote in the group...and hold your promise good... at least the donee will think of us good...we do not need some crabs to hold our stock ...and time for doling this out so you do not need to worry of us anymore... If you have any guts and not want anything out of us, donate this to someone as christmas gift and let at least that human will have some gratitude in store for us with many things happening in the company now...
Not sure why some crap minds exist in absolute negativism --"
Putting this in the light where it belongs. You think you can not be touched. But the law works overtime. That you will find out all too soon.
Indeed. RD is setting himself up in a big way. Coaching people to take out loans will come back to bite him. He should leave that to his boss.
Thank you for keeping everyone updated. Hopefully these challenges will be resolved soon.
My response to the Business World Article posted on my LinkedIn Profile 2 years ago...
(pardon my grammar or language errors as I have typed this in speed)
Dear All -There was an article in Business World authored by Mr. Anurag Batra Editor-in-Chief of Business World disparagingly commenting about me with such low words that he poo-poohed my bid for Air India as he doubted if I could afford even travel by Economy Class. His office colleague forwarded the Business World Article to my whatsapp that mainly alleges that
(a) I am carrying dubious reputation and one NBFC has rightly titled this for me (I have never interacted with any NBFC as of today)
(b) that certain founders (of Township, Hotel, Airline (One small and One big) fell a prey of my tall claims (I am not sure why we spend millions on their companies due diligence if we for fun and maverick reasons we post acquiring companies).
I am henceforth presenting facts against the matters inappropriately written damaging our reputation that Mr. Batra and his Journal attempted.
I always appreciate fair journalism but if it’s written without factual then it harms the integrity and survival of the person who is genuine.
I shall be explaining each of the issues cited and on his comments that he is surprised that I have bid for air India when he has even doubted my capability that I could buy economy airfare of air India.
It doesn’t call for fair journalism when things are written unfairly. And I deserve a fair presentation of facts.
What I was in 30 years I have openly presented myself in LinkedIn earlier including any citations pointed out before. I am presenting my response here as I seriously protest fake journalism written with personal vengeance. Ms Tanvie, Business World Associate termed my response to her as written in agitation. It is not. I am responding because, I keep my record clean and It’s that whoever does something wrong should be brought to books.
Transaction Refusal: As a person representing thousands of investors, we do intend to invest but into right kind of assets. But we are very cautious in making our investment decisions. After-all it is not my money but the hard savings of salaried class investors whom we represent.
It’s a fact that after 25 years of hard work I have come back to invest into India and contribute my best for this country but that doesn’t mean that I should throw hard earned money of investors into the drains of some defaulting promoters who lost public money taken from banks and made investors gullible. Its obvious being a CA and CPA, I am very cautious and careful. Unfortunately, Promoters carry garlands if you invest and throw shit on us if we refuse. This is exactly what Anurag attempted.
He is is no different and his article written now even stoops down his fair journalism in the guise of representing some promoters who made banks and public loose heavily for their luxury. Ya it is true we do not move in charter flights, I still travel in economy class and not cost my clients because I have come in life from modest grassroots.
Before I write further, I would like to note to the readers that we have not charged any dime from any of these prospects we judged to acquire - Rather it costed us millions of dollars to conduct and due diligence and investigate our prospective investees -- we bluntly refuse if we do not find them appropriate.
Now the case facts --
(a) Mr Batra's own firm - 80% of Business World Capital was invested by the family office of Yes Bank Original Founder who is now jailed). And Media & Newsprint FDI cannot exceed 26% but despite this fact, I was willing to invest. We advised that we can take AIF route for the balance of investment. We signed term-sheet but his office suggested they were waiting for clearance from the Family Office of Rana Kapoor which they never turned back. I have not received response from Business world. Then one-day I was taken to the office of Business World which made us investigate into their financials thoroughly for a second opinion and we choiced not to risk our retirement asset client money.
Hotel Transaction — We entered into a Binding agreement with a 5 Start deluxe property Group on their Chennai Property and the transaction was for ?700 Cr. However in due diligence we found that it costed 1450 Cr to build the hotel but due to low occupancy rate, the asset was written down by 450 Cr to Rs 900 Cr. On the top we further bargained the price down to Rs 700 Cr. We were cautioned by a senior CBDT member and an ex-principal chief commissioner of Income Tax that when assets are largely written off and we purchase the assets as a slump sale then we should obtain ruling from cbdt through Supreme Court or it will be considered by the department as a sham transaction risking freeze of monies at both ends. As this was the issue, I suggested that hotel founder that we rather invest into Group as substantial acquisition and then de-merge each of the hotel assets as separately listed public companies. Then Founder advised me to put the offer price at Rs 2,100 which the ARC refused. We have additionally increased the offer to 2,600 plus crores but that also did not invoke any favorable response from the ARC. I have infact referred the asset to a delhi based investor which the founders visited in Delhi but the terms were not acceptable. Later the investor extended the price offer that was exactly matching our recommendation. Anurag further claimed that the founders lost by hosting my stay luxuriously. But the whole of my stay at the hotel was paid by our company and nothing was taken on credit not even for a single time. By US Laws, we cannot take gifts from clients.
Mr. Batra allegation about AirIndia-
In air India we supported employees and submitted enough financial evidence to support but the bid was unsuccessfully participated by employees group. As per Mr. Batra, I may be consciously traveling by economy because of the modest life and roots we grew up with and he may be traveling by charters or business class, but we are self made entrepreneurs having value for money. including Infosys Mr. Narayan Murthy and Wipro chairman people like us commute by economy fare and do not waste our money in luxury spending. We spend what is required for business. Wealth is not measured by our show off but how we value the wealth of the people who believe in us and extend it to us.
Pavan Ruia of Dunlop fame: He met me once in ITC Maurya on Air India through a common friend but after performing internal due diligence, we remained silent. I never met Pavan Ruia after then.
On Lavasa, we were extremely interested in acquiring this asset and in fact even submitted our biding offer in the amount of 1,440 cr detailing schedule of our investment. However the issue was on EMD. We were not comfortable with the terms of the EMD - Though on the face of EMD appears refundable, those terms are at the mercy of the Creditors Committee. We hence backed off after 4 years of rigorous pursuance on Lavasa.
On Trujet, the airline was bleeding with 450 Cr losses. It cannot be dealt with an open bucket to loose money but implement very tough financial overhauling.. As we found many irregularities we turned silent.
What is factual and what is written out of vengeance and who deserves a freeze, I am a very open book easily accessible and as a citizen of India I am responsible to answer the law and equally expect the law to offer fairness to me against all wrongful journalism.. Substantial Equity of Business World was held by a family group whose founder went to Jail because of his fraudulence with the bank he founded. And cash struggling magazine talked about our travel in economy class (what a poor mindset) and his vengeful write up is believed by another sick mind here complaining on a person and the group that maintains communication with its stakeholders on a minute to minute developmental progress. This ladder pulling sickness is what kills the entrepreneurship and I just pity some minds...
Laxmi Prasad
You visit my LinkedIn profile -- you will find all of my responses to Anurag and I have copied all of it here immediately after those postings...
I am not sure if this xxx understands what we are messaging to the shareholders - and we will not be wasting our time on those lunatic illiterates who cannot understand our communication -- Let piggish minds wander in the streets picking up some poop, we have things to focus --- Even the publisher of the article was another mindless raccoon with a stuffy office that showed no signs of encouragement for us to fund them -- we have already given our mouthful and copied those postings and I don't want to waste my time and energy on these at all....
RD Thanks for the clarification!
Yes, the dividend is unchanged. But delayed by a couple of weeks.
If for some reason the money doesn't come from India by March 15 (which we don't expect) then you will get utility tokens (or SWIM Gold) instead. This is just to show that the company is committed to paying the dividend. But the intent is to pay the dividend in cash in a couple of weeks.
RD I need simple information. The compensation Laxmi mentions has too many details for me to act on. My understanding that there will be a remittance quarterly of 25 cents for a certain number of tokens, which in my case amounts to about 20,000 dollars, still holds good, does it not, but there will be another delay of some weeks? If that is the case I don't bother about any further compensation for the delay.
But another character has appeared! Watch how he covers up fraud! He was the initiator of taxes and that the payment was postponed. Either it's the same person or you're blinded by hope. But I want to assure you. I will write the next post to you in 3 months and confirm my words - There will be no payments or dividends! They are holding you by the nose and sucking out your money!
Don't believe everything you read on the internet.
The company is doing the right thing. Selling off certain assets in India to fund operations and dividends. Until operations can take care of the dividends themselves. $25M is coming from certain shares sold in India and another $27M asset sale. And there is a lot more coming as well.
Repatriation can be a bitch. Multinationals usually don't do it. For tax reasons. Although we could have done it sooner. But we don't live in a perfect world. At least the process has been ongoing since september/october and it can take up to 90 days to get FEMA approval in India. We are past the first 30 days now. The money belongs to the company so there shouldn't be any issues. The 2nd wire and beyond should be a lot quicker.
In the meantime we are also moving forward aggressively with sales. Obviously.
Check out this information! Who suffered from fraudulent promises and sent money to accounts. Write to me in a private message. And remember Laxmi Prasad does not forget and very convincingly lures you into the bait! There are people to whom he promised money in 2018-2020. It's 2024! I think he will live for the rest of his life on funds that he fraudulently obtains from people! Be careful! May the God in whom you believe be with you!
https://www.businessworld.in/article/The-Man-Who-Acquired-Nothing-But-A-Dubious-Reputation/02-11-2021-410860/
I am very sorry that you invested such a large amount of money. I warned everyone about fraudulent activity. But my messages were quickly lost in Laxmi's eloquence. Just read this article and you will know Laxmi in all his glory. And look how much is common from 2018 to this day. Promises! Promises! Both people and entrepreneurs are left without their money! I said that there would be no payments on December 22, and now on January 24 there will be no payments again. And I can assure you 101% that there will be no payments until 2024. Perhaps you will be offered to take more tokens for $0.01 as compensation). This is a fraud! Just check the information! I sent a request to Dr. Annurag Batra, with screenshots and correspondence from Laxmi. Because I want to warn more people!!!!
https://www.businessworld.in/article/The-Man-Who-Acquired-Nothing-But-A-Dubious-Reputation/02-11-2021-410860/
The redemption value of cash grant may be read as $0.0835 per Token held per vertical on the 3 verticals.
$0.0835 => $0.08333 + $.083333*8% per annum /12*3 Months (Dec 22 2023 through March 15 2024)
Thank you,
Laxmi Prasad
Dear All,
I am writing this note updating on the cash grant we promised to payout on the 24th of January 2024.
I regret to inform you, it is still taking time for us to have clearance from the regulatory which is causing the delay.
By Law we should receive confirmation or questions for clarification from the Regulatory within 30-90 days time.
We crossed 30+ days and if at all we should have any questions then we are told we should receive it anytime after the 45th day.
This forces me to write to you that cash grant payout in the amount of $0.08333 payout per vertical on the three verticals will be delayed further.
And we are advised that the release of investment clearance will take another 15 - 30 days if not 60 days in the worst case scenario.
However, I wish to firmly undertake certain of the company's commitments that it promised by securing,
(1) Cash Grant to the 3 x Vertical Shareholders, including any tokens granted to the group Staff whether as bonus or in lieu of Compensation
(2) Redemption of Investment (Original Investment + 8% ROI until Redemption Date) to certain ITUP Shareholders who invested and remained with us for a long-term but not shown interest to subscribe to the verticals;
(3) Return of money to those who for a long-time extended money to us and supported / played a critical role in our existence and continuance until today; and lastly
(4) Compensation payable to the staff whether US or non-US and whether permanent or independent contractors
For the Sums promised below,
(1) Cash Grants @$0.0835 [0.08333+0.06667% PER MONTH * 3 MONTH] per token held in each of the three verticals whether as ITUP or CCAC shareholder or as Staff (employed/independent) of the Group
(2) Redemption of Investment summed up @ 8% ROI until the date of redemption
(3) Repayment of monies extended, summed up @ 8% ROI until the date of redemption
(4) Gross Compensation summed up as of January 31, 2024 without any exclusions or adjustments including any issuance of token against any pending compensation as of January 31, 2024
We will issue Utility Tokens redeemable in Gold Grains at spot value or traded off online anytime after the redemption date...
Redemption Date(s) -- March 15 2024
THESE UTILITY TOKENS WILL BE BURNT IF THE GROUP PAYS ITS COMMITMENTS LISTED ABOVE IN CASH BEFORE THE REDEMPTION DATE. OTHERWISE, RECIPIENTS MAY REDEEM THEIR VALUE FOR GOLD GRAINS AT (GOLD SPOT ASK/480 GRAINS PER OZ)*1.01+1.25 PER GOLD GRAIN OF 999.9 PURITY ANYTIME ON OR AFTER THE REDEMPTION DATE.
ALTERNATIVELY, AT THEIR CHOICE AND DISCRETION, RECIPIENTS MAY PARTICIPATE IN GOLD SWIM (SYSTEMATIC WEALTH & INCOME MULTIPLIER PROGRAM) BY ASSIGNING TRADING RIGHTS THE GROUP TO TRADE IN GOLD FOR 8% ANNUAL RETURN + 2/3 PROFIT SHARING OVER AND ABOVE ANNUAL RETURN (IF THERE IS ANY SURPLUS).
OUR TOKEN ISSUANCE CELL SHALL START WORKING ON ISSUING RESPECTIVE NUMBER OF UTILITY TOKENS TO EACH QUALIFYING MEMBER LISTED UNDER ANY OF THE 4 OBLIGATIONS THAT THE COMPANY OWES AND RESPONSIBLY COMMITS FOR.
How these Utility Tokens help the beneficiaries -- Utility Tokens are performance deliverable tokens and put the company in contractual obligations like any other negotiable instrument, following Article 3 of the Uniform Commercial Code (UCC). Company as an issuer will be liable for any performance failure on or after the set redemption date for each of the obligations listed above.
Sincerely Thanking You all,
LAXMI PRASAD
Dear All happy to share, Nityaanna is submitted as 501(c)(3) organization to the California state with its purpose to offer and distribute free meals through religious, charitable institutions and public bodies!!
Dear All happy to share, Nityaanna is submitted as 501(c)(3) organization to the California state with its purpose to offer and distribute free meals through religious, charitable institutions and public bodies!!
Dear all ---
As I have explained earlier, whenever a large remittance happens, it is a standard process and procedure to have both tax and FEMA clearance.
And there is a certain regulatory procedure that typically should be followed. Typically, if there are any clarifications, we would have received by now - in the worst case scenario within the 45 days time frame though it will stretch up to 90 days especially when transactions are of large value and the transfer is for the first time.
Regulatory will ensure that every thing is in proper order.
This said, if we are getting beyond 24th January, I am planning to address the promise in a different way which I am sure everyone will throughly be pleased....
I will post my message on this later today evening once I receive fresh updates on the timelines,
Laxmi Prasad
Dear Laxmi, you were planning to provide a dividend confirmation update on Thursday (yesterday). I'm sure you're quite busy so I would like to respectfully frame my perspective (understanding) and offer an inquiry.
The ROI deadline has now equated to three different dates adding up to more than a 4 week delay. Please do not feel obliged to offer a protracted reply, as I know you're busy. Please simply confirm that dividends will be deposited into investors accounts on January 24, 2024.
Thanks for the work. Looking forward to the good news!
K
karla I am impressed to learn about your extensive experience in this field. I would think it is a serious impediment to business activities when it takes weeks to transfer money from India to other countries and when it is unpredictable when it can happen. India is growing fast and I would have expected it to be a high priority to do away with this type of impediment to growth. I too hope that we will receive our remittances before long.
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