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Dear Laxmi,
From one point of view the sharply increased valuation sounds fantastic. If those values had obtained at the end of last year the result would have been a wealth tax for me based on just these three types of tokens of about 60,000 dollars. I would have to sell shares to pay that tax which would mean that I would have to sell about 50% of my shares. This causes me to worry.
Issue Date for Bonus should be assumed as April 15 as we are compensating these tokens until this point as outstanding.
And the base value for Bonus Grant should be $0.00 as it costs nothing to the staff.
The base value would be $0.01 except for tokens issued for staff in 4 verticals @ $10.00 against outstanding compensation.
Issue dates are the dates you have input RD...
Food Carts -- We can take Dec 22 as the date for issuance...
Whiskey & Plain Seats It is 16 Jan 2024...
Issue Date for Bonus should be assumed as April 15 as we are compensating these tokens until this point as outstanding.
And the base value for Bonus Grant should be $0.00 as it costs nothing to the staff.
2.5 x more taxes to pay. On the bonus tokens that were issued to employees in January. (For the income tax in 2024)
( Question1) Do you have an exact issuance date for the bonus tokens? I'm going to need it to determine the exchange rate (on a certain date) for the income tax. Makes me wonder whether we shouldn't just use $0.01 as value for the bonus shares that were issued to employees (Question 2). However, the number of tokens were determined based on a $10 price. So perhaps we should still use that price? For the income tax. Although, the only reference transaction price we have is from late 2023 and it was $0.01 then.
These are the issuance dates I have for now.
Verticals Issue date
Gold - 15-sep-23
Rice - 15-sep-23
Food Carts - dec-23
Whiskey - 16-jan-24
Plane Seats - 16-jan-24
Perhaps you have a more exact date for Food Carts? (Question 3). Again, I need it to determine the exchange rate (in Euros).
And this raises another question. If the whiskey tokens were issued for $0.01 on Jan 16 then how can the whiskey bonus tokens be valued at $10 at roughly the same time? Because the bonus tokens were issued in January. (Question 4)
Dear all—
Very happy to announce that we are moving our token value to $25 per token and adjusting the asset quantities to match the token price — this is what we are being advised — to move the price on gold, rice and whiskey token pricing from $10 to $25 given the current market situation.
There is heavy absorption into these commodities for preserving, stocking and redistributing because of the war zones and other stressful conditions the world is passing through and I am advised that it makes no sense to undervalue the token but manage the price and stabilise it with optimized inventory turnover and supply chain management …
I have asked Likhitha to set the valuation henceforth and I will be submitting to the banking group our revised valuation estimate before I leave for Hong Kong and we unlock the trading in tokens ….
Very happy to share this development as each token will be worth 2.5 times more now...
Laxmi Prasad
Shut Up shameless laxmi
I got this on internet you don't have money to payback investors money.. you want instalment to pay them and you call yourself entrepreneur...only fool will believe you
https://www.complaintsboard.com/laxmi-palaypu-ibsn-inc-siriworldcom-fraud-and-money-scam-c682907
I acknowledge there are some very close people to whom I have to return either gold or money. And I am not sure if you are all these people. To my conscious knowledge I have to pay money to very few people in number. Of these, to some I did payback in instalments and to some I am almost there to close the accounts. And to few others I have to pay still. I have never told anyone that I lost and they should lose because of the consequences I faced. And these few others not even cross double digit. And it is a fact that I appealed to these people to offer me time. Even to Rama, I have been asking him to permit me pay even as low amounts as $250 monthly to payback. I have been appealing this to him for over 2 years. If I was allowed by this time his account at leat would have got closed for me. I appeal that by
https://indiankanoon.org/doc/1025931/
This is the case on the PTFE project I am talking about -- that took the financial life of one entrepreneur (my brother) -- The pathetic situation, even if the commission granted financial compensation, the agency went for appeal and it is pending in courts ruining the life of an entrepreneur ....and bloody banks are the cause of it....
PaladinOcean33 --- Please do not make piggish comments anymore; Not sure who you are but respect the lives of an entrepreneur....before making bloody hell comments that we speak lies.....
Stop this mindless attitude!
Laxmi Prasad
Yes RD,
Goal is to have this enabled and we are trialing with $10 a token ...
There is a solid technical reason to put the base price @ $10 and we have discussed this earlier....
And once the trading begins and we start cycling the inventory, the NAV will stabilize based on how successfully we are churning the inventory....
I do not have time for mindless idiots and pigs hovering over eating the smush!!
I do not have time for mindless idiots!
$10 would be nice 😃
Indeed it's required more energy and strength to spread lies all-over the world ...you need it
Only stupid will believe you & your stories laxmi
You never provide any particular proof or links to believe
You are philosopher & story teller nothing else
Thank you Snow and yes I am bestowed with all of your support and blessings!!
This month is very critical for all us and these blessing indeed offer me tons of energy and strength,
Laxmi Prasad
Vika You did not understand that this was no real question. You seem not to have noticed the use of the word "something". It suggests that the apparent question is directed to nobody in particular. My intention was to try to make Laxmi pleased rather than to pester him with an unnecessary question. He regards us as part of his family and my impression is that he is happy to spend a bit of time for that purpose.
Thank you Vika1 for your kind advise --
Yes working very focussed on multiple action threads including the cash grant ...
And thank you for understanding and advising others to allow me to focus on my work!!
Yes Snow, The name signifies Goddess of Wealth Laxmi (Also written as Goddess Lakshmi)...
And thank you for your kind words -- I am deeply obliged!!
I am not addressing to you as a standalone reader PaladinOcean33 -- I do not even know who you are ...
I addressed the matter in general...as why we do not go for borrowing...
Do not distract the person with stupid questions; he is making a dividend transfer.
Dear Laxmi,
One day late I would like to congratulate you very much on your birthday yesterday! A bird chirped... I found the following information on internet that may be a good omen: "The chirping of birds is believed to carry spiritual messages and omens. Different types of birds are associated with different deities and have specific symbolic meanings. For example, the chirping of a peacock is believed to bring blessings from the goddess Lakshmi, the deity of wealth and prosperity." Does it signify something that your first name is very close to the deity of wealth and prosperity?
Laxmi,
Send me the link of the matter what happened to your brother ..let me see how truthful the matter is upto
Don't give history lessons here I don't need
Thanks
Dear Karlacorn,
Thank you for the note -- Yes PTFE has wide applications...
Unfortunately it was a long court battle for him and by the time the courts decided the unit was liquidated by banks.
Once the tokenization sets in place, I would like to help him establish this unit back ...
It is like his dream child...
I am quite excited to learn your knowledge into this Karlakorn,
Sincerely,
Laxmi Prasad
Dear Laxmi. Thanks for the info. Lots of historical reference points for learning.
On a side note, it's interesting to see your brother's foray into the PTFE arena. Fluoropolymer processing has so many cool applications, whether it be by compression molded engineered products, skived or extruded films, or wrapping technologies... across numerous industries such chemical processing, microwave communication systems, micro-chip wafer manufacturing, auto parts, etc... I'm sorry to hear of the damaged press lid. I hope it was insured.
Remaining bullish as I look forward to each of the coming milestones!
K
Dear Karlacorn,
You have rightly addressed ...
"Management's job is to deliver results by establishing a vision, laying out a strategy, executing to milestones and mitigating problems. No business can thrive, let alone survive, if it simply assumes "....more problems could surface"... Objectives are never met in business without great planning and issue avoidance/mitigation."
IT is that continuous thrive and effort that helps the organization take the next steps than dooming into darkness, assuming uncertainty and getting perplexed when we face a situation...
I do not wish to again and again substantiate that we are diligently working to move forward and that moving forward does not just mean paying cash grants but in actually rolling the verticals to become live, placing the tokens into trading sessions and bringing value. We are actively moving towards making these tokens our currency system -- Despite any challenging environment, there is no disturbance in reaching the end goal -- to make these tokens available for distribution on a wider platform... The banking group has accepted to distribute these tokens to the 372,000 of its accredited investors and with 6 verticals live this brings us revenue....
On the cash grant, as i have disclosed in my previous note, there is a $31,000 penalty issue -- we have an investor to subscribe to this and latest by the 10th I should fly or be in Hong Kong. I am not a big fan of raising debt -- Rather we are planning to zero the debt completely as I have seen how companies collapsed getting addicted to the loan drawing. And that includes our past business -- we were not not even at fault but because of Lehman Brothers collapse and freeze on US Banks to have global exposure, our business working capital was called back that forced an abrupt business closure..The 167,000 tax returns filing business went into dust overnight because of the system failure and we just had to face it because of bank loan that was otherwise quite healthily maintained by us. And that was not the first experience .... My brother established a PTFE processing company with Habia Teknoflor AB Sweden partnership --- One of presses which was imported from National Forge Belgium met with an accident with a loose soil maintained by the warehouse and the press lid broke into pieces... As the material was containing nuclear element, he could never gain permission back with the global restrictive conditions then on Nuclear structures and banks that lent money seen my brother's life soaked in blood for no fault of his.... I may be over fearing but it is not easy for my mind to borrow money ...even with firm that has given us $600 Million matching line of equity, I have put a condition that they should convert the amount into equity at a premium that does not exceed their % beyond 20% in any of the verticals.
There is no intentional delay Karlacorn, We will deliver .... For a normal mind, all this what we are going through looks complex, uncertain and not happening but I look at myself the other way. We are able to fix these at our budding stage. If the same issue would have cropped on us after we get fully funded and our verticals become valued, the fine would then have been vulturous....... I am just thanking stars that we are able to solve issues before it turned big. And even this $31,000 fine is not for something wrong we did... Its a very very old 2007-08 issue on failure to submit some forms on the $4.22 Million wire remittances to the Indian company we remitted then. This matter did spring up when we were bidding for Air India....
yes we have journeyed through a bunch of thorns but we were able to successfully clear our path and moving into a great direction...
We are moving with great speed in the distribution arrangement and enabling the trading platform that will trigger for us deep valuations.
sincerely,
Laxmi Prasad
Oh the tangled web's we weave!
RD For me it is ok to be honest and realistic.
Just managing expectations, Karlacorn. History has shown repeatedly that the company is not in control and issues can rise out of nowhere causing more delays.
You have previously criticized the company for not delivering results on time and I am telling you nothing is certain until the money is paid and in your account.
Respectfully, I again cringe at this sort of reply from the business side. I believe the business is better served by not replying at all vs saying
I told you, more problems could surface
I told you, more problems could surface.
I feel your pain, we all do. Calling it a disappointment is an understatement.
I just hope it will finally get done, before the end of April.
Post new date for dividend payout
I know 9/10 commitment won't be delivered
17 too...
Hello Laxmi...
its the first delivery pain and we cannot even perform a Cesarean Birth...
Appreciate the update.
Dear Karlacorn,
We are solving a pending issue from Indian Regulatory -- the issue is resolved with a minimum exposure determination of $31,000 (Rs 2,500,000) and the regulatory circulated their determination dated March 28, 2024, yesterday night during India business hours. I have circulated the copy of the Order in the shareholders group we have on Telegram.
In response to the demand, I have put a request to adjust this payout out of the remittance we are expecting and waiting for their response.
Sans, I should arrange this payout Rs 2,500,000 in India which I have already started making this arrangement.
I was supposed to leave for Hong Kong sunday late night for structuring operations management from there and release cash grants but could not due to this last minute development -- If the problem gets fixed in the US, I will straight go to Hong Kong today or tomorrow night 12.15 am. If otherwise we have to make payment out of India, I will stop over in Hyderabad for a day or two and then fly out to Hong Kong to complete the payout.
While I cannot promise the exact date we can wire the cash payout, it will be within the next few days and we will complete both the cash grant payouts. I know we got delayed but there is nothing stalling us....
On our claim that we are turning into a multi-billion enterprise, yes it is true and I would reassert it once more now...
We have a huge development from the European Banks team side and they have in fact proposed as below,
1. Integration, underwriting and trading of tokens on the token platform
3. Incorporating operational company out of Switzerland
4. Finalzing terms of understanding
5. 20% equity for us the token banking platform -10% direct holding & 10% through an independent structure
6. Introducing agri investment tokens
7. Board Planning
8. We will be organizing AFM out of Swiss Regulatory & Licensing Compliance
Dear Karlcorn, there is no defense argument here -- its the first delivery pain and we cannot even perform a Cesarean Birth....
Money will come for sure....
Sincerely,
Laxmi Prasad
They are not necessarily in order of launch date. CART is green as you can see, which means it has already been launched. Yellow will be launched soon and red is planned for later.
As for RISO, the way I understand it, there will be two series of these. The 76M of the first series that have been issued act as shares of the company and all profits from the rice vertical will be divided by these 76M tokens asif they were shares. There will be another serie of RISO issued to the public with a different valuation and those will will be backed by physical rice and traded by the company. How to separate the two I don't know yet. But they will both trade publicly.
RD This is very confusing in some ways. My cart is now no. 6, whereas I have had the impression that it was created last year and was one of the first. Is the explanation that there are two series of tokens and that the ones you mention now are not the ones mentioned in the past as the tokens we own? Are the ones we own utility tokens? But RISO is after all mentioned and that is the one that is in our wallets.
Provide details of project with their link instead of images
This kind of work are not accepted and you must understand date of payouts matter to investors so laxmi should take responsibility as we are expecting from him
If I give updates then Laxmi doesn't have to, and vice versa. He is just extremely busy.
And yes, plans change all the time.
Ok... LOL. Let's bundle the dates you provided... amazing.... It's still the 8th scheduled/projected payout date.. a date that's not a favor to us but a date we we should be apprised of. Dear All, Cash grants will be paid out on March 22, 2024 and eligible receivers should see wire credits on 3/25. I will be in Amsterdam at that time -- meeting a few from European Banks on token underwriting and distribution -- Will celebrate the occasion with our team based out there...
Business run this way is never acceptable. Regardless of the scores of projections, extensive calculations, long vision proclamations, and the our cheering at each promise, the results have been horrific. And the responses are unnervingly and perpetually defensive.
We profess and project a multi-billion dollar enterprise?
Nothing from Laxmi since his notice of payout and celebration nearly a month ago:
but these were the last few communiques we appreciated receiving:
At least the 2nd dividend is planned for April 17 so we will catch up on lost time.
So, we are now looking at banking being set up in HK between April 2-9 and the first dividend to be paid on april 9 or 10. And the second dividend by April 17.
He is flying to Hong Kong on friday to set up banking there.
The dividend payout is now planned for March 28/29, out of Hong Kong.
But I didn't give you a fixed date. I said we are looking at the 9th or 10th of April. Which means it isn't final. I also said, more issues can always surface.
LOL. Sorry, you misread/misinterpreted. I meant your recent date is the 8th different "company" scheduled delivery date.
K
I never said the 8th. One more time. I said we are looking at the 9th or 10th of April.
"Problems can always surface again. I'm kind of getting used to it" 😬Really? Investors are now on the 8th promised delivery date. Bullish, but not loving that quote. Also there's the 17th date for the second payout... bullish, but not encouraged by the comms.
I'm just a bit concerned when it takes us 4 months (1/3 of a year) to move money.
K
So these two planned dividends will hardly make a dent in our budget going forward. Reassuring to hear RD!
Everyone here knows there has been delays. Anything involving large sums of money crossing borders often comes with delays. It's been frustrating for everyone. But all indications are that things are moving now.
Of course, problems might always appear. But the kind of problems that can appear at this time should be very limited, since the money is literally in the bank.
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