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downtheharch I assume you refer to me. What you attribute to me is false. I did not KNOW what the results would be and never claimed that I did. What I stated, which was true, was that I guessed in advance what it would be, and that the guess was quite close to the number that turned out to be the case. This was quite a rough guess on my part. I have a weak memory and I forget most information in a few weeks. Therefore I now forget the crack spread during the third quarter. My impression is though that it is not very different from what has been during the current quarter. This would suggest earnings between 40 and 50 cents during the current quarter. I remember though that earnings per share were surprisingly high during the same quarter last year, exceeding one dollar per share. I don't know if this had something to do with the time of the year. If it had a guess could be that the numbers will be a bit better in this quarter than in the preceding quarter.
Thanks Laxmi! Your and RD's posts provide perspective and enhance our understanding of what can be expected to happen.
Thanks a lot RD for very interesting assessments!! Even if cash dividends grow much slower than general growth the numbers you suggest would mean fast growth too. I well understand that a lot of uncertainty necessarily is part of such projections. I assume that when you refer to 25 cents in dividends per quarter that is based on 2 verticals in the same way as the 15 cents for the current quarter, and that this number assumes that several more verticals than 2 will be operative to achieve this level of dividends.
RD At least I think this vertical may achieve the highest value. If the growth in profits is so high that it generates a value of 50 dollars per token/share what range of cash dividends do you envisage?
Thanks Laxmi! I am very happy with that valuation.
RD "0.22 = what the strategic investors were paying for them" This suggests something happening in the past and that strategic investors who are supposed to be able to make a good assessment of the fair value of the verticals find 22 cents per share/token an attractive price (I guess this refers to the two first verticals). The implication for me is that these shares/verticals are worth at least 22 cents, which means that we have an appreciation of at least 2,200% already.
Dear Laxmi,
Thanks for clearing up my misunderstanding. The central point is that others have on an average only signed up for about 25% of what they were entitled to signing up for whereas I have signed up for and paid 100% of what I was entitled to sign up for. I now understand why you gave us the chance to increase our stakes a until a few days into December. At least this appears to have been a very wise decision on my part.
RD It appears then that the wealth tax regulations differ between Norway and your country. I assume the reason for taxing shareholders in OTC companies in Norway not based on the market value of the stocks but on the net asset value behind each share is that companies that have started up quite recently may have very high market valuation even if it will take years before there is any significant revenue. These companies therefore cannot pay any cash dividends. A few shareholders may own a large part of the companies. Where is the money to come from if these shareholders were to pay a high wealth tax based on what may turn out to have been thin air (a high market valuation based on hope)?
Dear Laxmi,
I am impressed and encouraged reading your post. What surprises me immensely is the following statement: "The non-subscribers will realize their pain of not having contributed into this ownership... I would like to write i may not have received even $12,000 to $15,000 in total from the $0.01 subscription..." I have myself paid about $ 7, 400. If I have not totally misunderstood I have myself paid for more than 50% of the $ 0.01 subscription!!! I go for high risk/high reward. In this case it appears that the reward will be very good indeen in relation to the money risked.
RD "Geez, the company will have to tell us what the shares are worth as of dec 31. IMO. What we have to report. I don't see how else we are going to do this." If it does not it will be natural to state what we paid for the shares. If we get no dividend before the end of the year the tax authorities will have no basis for an independent valuation and in practice I think what we paid for the shares will be accepted. I have to retract what I suspect what I stated in my pervious post. In Norway now market value goes for shares that are listed on a normal stock exchange. For other stocks it is net assets per shares that is the criterion as far as I remember. Thus stocks in Norway that trade on what corresponds to the OTC may often have a valuation in relation to the wealth tax that is a fraction of the real value of the stock.
RD I totally agree with the first part of your post. 22 is too late for spending some of the money before Christmas. I referred to the Norwegian wealth tax in the last part of my post. Then it is the value at the end of the calendar year that matters.
RD Personally I would prefer to have the dividend in the first week of January for tax reasons. Taxation of the dividend will be delayed by one year, which is financially more important than a delay of a few days. Moreover, for me it will be a bit strange to receive a quarterly dividend that is way higher than the value of the shares/tokens that the dividend is related to if the value is 1 one cent per share/token. If it is higher what is to be reported to the tax authorities?
RD It struck me that if he thinks that CEO does not have the right connotations for the role he wants to play and he needs something different the following might perhaps suffice: TEO - Top Executive Officer. Since it may not be in use with a definite role it might allow him to carve out his own role.
I have a hunch that Commander-in-chief may not have the connotations that he wants to communicate. The word commander has military overtones and suggestions of a desire to approach the role of a dictator. It reminds me of Donald Trump and the way he acts.
RD You are arguing your case well regarding Nigeria. My reasoning concerning the whiskey is not valid since it has to be stored for several years.
RD You should take into consideration that a dollar in a few months is worth a good deal more than a dollar in several years. My impression is that investing in for instance whiskey gives a much faster payback than investing in palm trees. Therefore it may not be fair to put these two sorts of investments on the same level. Moreover, I think there are additional risks involved in investing in for instance Nigeria and I suspect that goes for several other African countries too. I have seen this in Tingo Group in Nigeria that appears to be mostly a scam. I understand that you "fight" for your projects though.
Dear Laxmi,
Regarding the W-8BEN I think a little clarification is needed. Is it just sufficient to send two individual e-mails with the W-8BEN as an attachment. I sent one yesterday. The e-mails are sent to the same address - IR@myDhan.io. - it would seem that the person who receives it at that e-mail address could forward it to two entities that process the dividends.
RD I hope my contribution is wise... It is a sort of compromise in fact. I tried to write my best English, since you referred to me as a sort of expert when it comes to English. I feel some relief right now since I have both sent by e-mails the W-8BEN and the information that makes it possible to wire the cash dividend to my bank account.
RD The thought strikes me that it depends on the sort of connotations he would like to communicate. Based on the situation in my country it might not be a good idea in the business world. Here there are strict dress codes and among such people it might suggest a lax attitude to formalities. But one the richest men in Norway, who has created value in the form of a chain selling groceries worth a few billion dollars - REMA - refers to himself using the word major (colonial major (the former refers to groceries). This is done in a humorous way I think.
I have the impression that in some ways Americans are quite informal but I don't know whether this stance prevails in the business world too. Personally, I am not a stickler for formalities. I think it could create some misunderstanings and make some people Laxmi wants to communicate with not regard him as a very serious person if he generally adopts a common title from the military sphere.
If he would like to communicate a humorous tone of voice he might in certain contexts refer to himself as "Commander-in-Chief".
These are the best thoughts I am able to come up with on the spur of the moment.
I find it refreshing and confidence-building to be able to read that people at different levels of authority are free to state what they think. That is a good way to arrive at the best decisions. It is an indication that Laxmi plays his role in a good way that RD feels free to state his mind in an outspoken way.
Exciting that this part of the business seems to become so big.
RD Thanks! I referred to international transfers by wire. My point was that it could save time and trouble for the entity transferring the money if the recipients did not make mistakes in providing wiring instructions. Therefore it would be a win-win to do what I suggested. I will provide the information I suggested and that you regard as the right information in Europe.
Dear Laxmi,
I have received the following:
"We are sending this note requesting Banking Wire Instructions from all qualifying shareholders who have subscribed to Masala Agri, MyGold Grams and My Indian Meal Security Tokens."
To avoid unnessary hassle and problems I suggest you present here and in e-mails to the relevant owners of stakes in the verticals information regarding the sort of information you need to wire us the cash in a secure way. I have a whole page with a number of open fields that AT Ameritrade uses. I think some of these are not necessary. In my view it is desirable that you present the information you would like us to send you by sending us open fields that you ask us to fill in. I can mention a few that I expect to be included: The name and the postal address of both the ultimate recipient and the recipient bank and its address. Moreover, the IBAN account number in the recipient bank is extremely important to enable rhe correct bank account to be credited. In addition the SWIFT (BIC) code of the receiving bank is all-important for the transfer to end in the right bank.
Thanks for the information Laxmi! I interpret this as saying that even if there is a SPAC for one of the verticals and trading starts on the NYSE what may be traded is tokens and not shares.
RD Here is a definition of security token. It was the word token that has led me astray.
"A security token is a form of cryptocurrency that represents fractions of assets that have real value such as equity, a company or real estate. As an investment asset, Security tokens are digital assets that represent ownership or other rights to transfer value from an asset or asset class to a token." Thus security tokens are digital assets but not digital tokens.
RD Thanks! I did not understand that virtual tokens are not the same as digital tokens and that the information of digital tkoens therefore is irrelevant. I have to look up what virtual tokens refers to.
RD Taxation of digital tokens in Norway
"Alle inntekter fra virtuelle eiendeler er skattepliktige. Virtuelle eiendeler som kryptovaluta, digitale tokens og andre digitale verdier anses skattemessig som formuesobjekt (eiendeler). Inntekt fra formuesobjekt regnes som kapitalinntekt og skattlegges med 22 prosent."
All income from virtual possessions are taxable. Virtual possessions (assets?) like crypto currencies, digital tokens and other digital assets are regarded as capital (assets). Income from capital (assets) is considered income from principal and is taxed at a rate of 22%. I am a bit uncertain about my use of the words possessions, capital, assets and principal as translations. But it hardly affects realities if I have chosen the wrong word. In Norway capital/assets is/are taxed at a rate of a bit more than one per cent.
RD I think there must arisen some misunderstanding here. I provide a quotation in Norwegian. will try to translate part of it.
"Dette betyr at skatt på både utbytte og skatt på aksjegevinst for inntekståret 2022 (utbetales i 2023) er 35,2 prosent, mens for inntekståret 2023 (utbetales i 2024), er den 37,8 prosent (minus skjermingsfradraget, som altså varierer i størrelse).28. sep. 2023"
This means that taxes on both dividends and capital gains on shares for the income year 2022 is 35,2 per cent,while for the income year it is 37,8 per cent.
Dear Laxmi,
I am uncertain when it comes to interpreting the following statement: "Later on ...each of these verticals will either go for a SPAC or get into direct listing...but we will not be shifting into shares given the advantages over valuations that tokens will have over the next 2 decades... " Does this mean that even if the verticals go for a SPAC or are directly listed the entities we have bought for 1 cent each continue to be tokens and will not become listed shares? If that is the case you have thereby answered my previous question. From a taxation point of view that would seem to be hugely beneficial for me, since the tax rate for digital tokens is just a little more than 50% the tax rate that applies regrding shares/stocks.
Thanks for the reply Laxmi! There is a tax treaty but I doubt it deals with interpreting the difference between tokens and shares. My assumption is therefore that the decisive fact is if the token or the share is regarded as a token or as a share in American law. But there may be no certain answer to that question if it is inconsequential from a taxation point of view. What is your view as a tax expert?
RD I notice that you vacillate between referring to share price and token price. I think you should contribute to clarifying here in the public domain which of these alternatives is the legally correct one. Is it supposed to be the same all the time or will for instance the verticals be publically listed and tokens converted to shares? In my country cash dividends from shares are taxed at a rate that is almost twice that of disbursements from digital tokens.
RD Would you please present the gist of the contents? Some of us don't have access to linkedin.
Your question related to information that was no reply to you but to another poster. You have thus done yourself what you criticize me for. The post you replied to had the following contents: "I will be sending a fresh circular seeking banking information into which the cash grant will be sent, Lance ...
and on 22nd December, money shall remit to the said accounts on notification."
This happened three weeks before the money will be remitted. It was therefore of no significance if the fresh circular was sent the same day or a week later since there were roughly three weeks before the money is to be remitted. There was lots and lots of time tp send the fresh circular before any problem arose with getting the money remitted on December 22.
karlacorn3 You must have a better memory than I have. Now I hardly remember any previous post you wrote and I don't remember any previous comment I made. How long is it since I so often came at you? We are free to comment on any post on these boards. I do so and so do others. Laxmi is a very busy person. My view is that he should not feel forced to reply to posts that make little sense.
karla ""this", meaning the capture of bank account info? It seems this needs to take place in order for the guaranteed milestone to be met?"
I don't understand your impatience. There are 20 days between today and when the information is needed to transfer the money on December 22.
The global average jet fuel price rose, propelled by much higher prices in North America where jet demand was expected to be high because of the Thanksgiving holiday weekend.
janis shell
It is a fact that some shares trade in PRED. What are the implications of what you quote: "Accordingly, on September 28, 2021, the compliance date for the amendments to Rule 15c2-11, we expect that broker-dealers will no longer be able to publish proprietary quotations for the securities of any issuer for which there is no current and publicly available information, unless an existing exception to Rule 15c2-11 applies... "
What I find is no bid and asked prices but the prices of shares that have traded and the numbers traded. Is there a difference between PRED and TMNA is this regard, so that PRED is in a better position than TMNA?
Dear Laxmi,
Thank you for sending me the wire information details in an e-mail!
lucky I am aware that ordinary retail customers cannot buy these stocks.
lucky mydog As far as I can see from a chart 0.8 million shares traded late in September in PRED. My impression is that only people who are qualified to be regarded as experts are allowed to buy shares in PRED and TMNA. I have not memorized those qualifications.
Stock Barber "Warning! This security is traded on the Expert Market." Being on the Expert Market is not good at all but it is not being dead. Readers can check PRED, which is trading on the Expert Market. Some years ago the pps was above 5 dollars. Now it is 0.0001 dollar. Trading is slow but occasionally a lot of shares change hands.