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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.
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.
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.
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.
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.
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.
The share price would trade between $10 and $25.
Overall, the value won't change much going forward. Because the plantations start losing value now every year until they are worthless 16 years from now.
Add $200M in cash per year. The lease rights expire in 2039. Still 16 years to go.
The parent company owns 83% of the plantations. That's where all the value and the cash is. Currently off the books because the parent company can't or doesn't want to disclose those assets.
They have to settle it somehow. They will probably acquire the remaining 17%. If you look at the board of directors currently which doesn't have any members that worked for the parent company in the past (which would be highly unusual under normal circumstances, given their majority stake) you have to reach the same conclusion.
The alternative would be to go dark again. But they would open themselves up to lawsuits. They are doing that now too if they don't act. And the cash would still be stuck in China because Parent owns only 83%. So that wouldn't solve anything and cause more trouble for everyone.
It's simple logic. The difference between this company and all the other (failures) is that this company is highly profitable with around 2 billion $ of mostly cash stuck in China. And growing fast every year, still. And nobody can access it.
I hope that explains it once and for all. So we don't have to cover it again.
Do not sell your shares.
Do not believe this clueless and fake market.
The value here is real.
It really shouldn't come as a surprise to anyone that the company is struggling with this for so many years. Because this is China. And we are dealing with the government.
I'm not even reading all that.
And if you divide market cap by number of employees?
Rivian = $1.6M / employee
MULN = $900k / employee
TSLA = $6.8M /employee
So you don't really have a point, do ya?
Assuming your numbers are correct. Which I don't trust for a second.
I'm not sure what your point is. FINRA is not allowing the dividend to be processed. So obviously you won't receive it in your account either. The company was still considering paying the dividend (last we heard) but I don't think the lawyers will go against the opinion of FINRA.
So, we are stuck again. As usual. They will have to find another solution.
The value is not in the dividend btw. The value is in disclosing the true value of the assets and our shares. And getting the money to us, somehow. The dividend was just one way.
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.
They haven't updated the press releases since 2021. Why? And they are wondering why the stock is down?
http://www.gulfresourcesinc.com/news-27.html
Have they given any guidance for Q3 that you know of?
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
21,000 x $0.15
That doesn't contradict what I just said, Snow. Yes, apparently there were some more shares of those 100M available, so they were offered to the shareholders.
Yes, P_C. As an ITUP shareholder you will receive one vertical share of every vertical company for every ITUP share you own.
The first 4 vertical companies combined will pay out $0.15 in december (and targeting $0.25 quarterly thereafter). So you will effectively receive $0.15 per ITUP share, paid out by the vertical companies to you.
The reason why it's not a stock dividend is because these new vertical companies are not owned by ITUP. And yet, you are still entitled to 1 share for every ITUP share you own.
All vertical companies have 100M shares outstanding. 16.2 million of those shares will be distributed to 16.2 million ITUP shares currently outstanding.
And so, 16.2% of the vertical shares will be distributed to ITUP shareholders.
Another 10% to all Cow Capital shareholders. Also 1 for 1.
The rest goes to management, employees and strategic investors. And those who subscribed for it recently.
As for ITUP listing on a senior exchange, those plans haven't changed.
We'll probably have to execute at least 2 SPAC mergers before we are ready.
Right now, the important thing is the vertical companies and selling tokens.
We will ramp up very fast and add several more vertical companies before the end of this year. (Palm, coconut, RAS, sugarcane and perhaps food carts and carbon credits could all be added soon beyond the first 4 that we have already - aviation, whiskey, rice and gold)
So there is a good chance that the dividends will also go up next year.
I hope you still follow.
But you will basically get $0.15 cash dividend in december for every ITUP share you own.
Is it tax selling season already? lol
Every vertical company (Rice, Whiskey, Aviation and Gold) has 100M shares outstanding. Dividends will be paid to these shareholders. I'm giving you a list of all shareholders > 1%. Not the complete list because I'm not sure if that is appropriate. These shares have not been allocated yet. We are waiting for the strategic investors as the number of shares they will receive is dependent on the money invested. We are very close to finalizing this though.
As you can see, 16.2M shares will be allocated to 16.2M shares owned by ITUP shareholders. (1 for 1)
And 10M shares will be allocated to 10M Cow Capital shares. (also 1 for 1)
That should answer all your questions.
This thing is volatile. 1.38 now.
Yes, I also found this list and GNS is not on it. So I guess normal rules apply.
https://www.nyse.com/ex-date-dividends
$0.10 loss for the quarter. What did I tell you guys? Disaster. Exactly. It was already KNOWN. You just didn't listen.
Seriously though, FINRA doesn't care about the size of your wallet.
If the company makes an offer for our shares then they will have to do an appraisal. It's pretty simple. They have done it before when they swapped assets in 2014.
You know which companies will be paying the cash dividends. It's the vertical companies which are private companies. Whiskey, Aviation, Rice and Gold. Hopefully we can add a few more this year.
Just in case we haven't covered this here.
Every ITUP shareholder will be entitled to 1 share of every vertical. One for one.
Every CoW Capital shareholder the same. 1 share of each vertical for every share you own.
Those vertical shares are being allocated now.
The 4 vertical companies combined will pay the first $0.15 cash dividend.
Nothing. Laxmi actually asked me about this yesterday. We are budgetting $0.15 for the first quarterly dividend (to be paid before Christmas) and targeting $0.25 for the quarters thereafter.
FINRA is not processing the dividend.
Let me give you guys another update, And for you too Tony. lol.
1) Offices
I don't know if this has been mentioned before, but it was delayed. August 15 is set in stone now when we will get the keys. FWIW. One of the reasons for the delay is because we have to occupy the building with at least 300-400 people. There are reasons for this. Utility, security etc. So we have been, and will be, hiring people at a very fast pace in the coming weeks.
2) Sales
I think Laxmi mentioned yesterday that we will be selling our first tokens (on the 4 verticals) on Aug 1. Again, FWIW. There can always be delays.
3) Dividends
Laxmi has confirmed that we are targeting the first cash dividend from the 4+ verticals to be paid before the end of the year. It's a target but we are very serious about this.
4) Aquaculture
It didn't play out as planned or hoped in India. We are looking into a new partner for the first 500 modules.
5) Palm
The Feasibility study on Palm in Nigeria has been completed. All lights are green. Investment for the first year is close to $500M for 40,000 hectares. And we will be doing that every year for the next 5+ years. Coconut in Nigeria is also pretty much a certainty. Same method, same partner. And we are also moving forward with a very large catfish project (RAS) in Nigeria. This is a very recent development but we can move quickly with this. And after that I will be looking into orange plantations in Nigeria.
That's it for now. Personally I have been quite busy with some of these developments. But that applies to most people working for ITUP.
Until next time
In the worst case, nothing much happens in the next 1+ years.
No, what I meant is, they will settle this one way or another.
1) If they are able to get money out of China then they could make a tender offer for our shares.
2) The company could settle the plantations with Parent and get paid in cash
3) Or they could disclose the off-balance sheet assets. And then the stock will surge.
As I said before, option 3) is not very likely.Option 2 is probably the most likely scenario. It would result in big cash dividends or a going private offer.
They will have to do something. At least try. As they have been trying for the past 3 years. Doing nothing while keeping the assets hidden from us equals negligence. And will result in lawsuits.
We have covered this several times. But let me explain one more time.
When corona hit in 2020 I said that this might very well shake things up in China and get the company moving again because they had been dark since 2015. Why? Because the 5 plantations are generating lots of cash flow every year. Over $100M. But the parent company cannot pay out dividends to themselves because they do not own 100%. We own 13%. This could be a problem for them, especially after Corona hit.
And I was right, because a couple of months later they started making changes to the website and giving updates. There were more changes, to the BOD etc. Later came the spin-offs. And they failed several times because FINRA wouldn't allow it. Then came the preferred stock dividend and they failed again several times. And now it's 3 years later.
I warned them, about all of this. I told them they should go private and make an offer for our shares. But for that, they need money out of China.
Management must be as frustrated as we are. About FINRA. About the whole thing. And the parent company probably too. Because they are still stuck, as are we.
This will be resolved, one way or another.
Masala Capital website has been launched.
https://www.masalacapital.com/
I don't know how to interpret that crappy chart.
This one shows the crackspread for diesel, close to $20/barrel.
https://www.neste.com/investors/market-data/oil-product-margins#2ad37f62
Jet fuel is usually in line. You can find it here if you scroll down a bit. The difference between the blue and green line.
https://www.iata.org/en/publications/economics/fuel-monitor/