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My memory is not so good either. But I investigated all of these in the past. I think TS doesn't offer HERB now. Schwab is the only one I can use. And $25,000 won't be a problem once I get paid. I am planning to buy a lot more than that.
Million, Snow 😄
Already asked Laxmi to give an update. He said he will do it soon, after they file the tax document that will free up the $2.59 being transferred into the US account.
Thanks to Traderfan for the tip.
Schwab International now allows customers from The Netherlands, Austria, Sweden, Finland amongst others.
Which means we can buy and trade HERB now.
https://pressroom.aboutschwab.com/press-releases/press-release/2023/Schwab-Stock-Plan-Services-Expands-International-Capabilities-Offers-Fully-Featured-Accounts-to-18-Additional-Countries/default.aspx
Get real, Karlacorn. There was no reason for Laxmi to travel to Hong Kong sooner because the money wasn't available until recently. It was a lenghty process, from asset sale, to getting it approved and transferred out of the country. It is a bureaucratic nightmare, most of which we cannot control. But the money (most of it) is in Hong Kong now coming out of Escrow soon.
He has to set up banking (authorize certain individuals) in Hong Kong. Simple as that.
It's easy to criticize the company. But all startup companies struggle big time. There are no exceptions. However, you won't find a single one that sold off assets, repatriated the money, and paid dividends from it. Like we are doing.
In his latest update, Laxmi has informed us that he has to stay in California for a couple of days to take care of some things.
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.
Yes. Planning to pay it out of Hong Kong as that is where currently most of the money is, in Escrow, for doubling and dollar matching. There is 0% withholding tax in Hong Kong.
You haven't missed his response, K. Because there wasn't any.
True.
We have calculated it several ways now. I already told you I have seen numbers of $78 per token (for 12 cycles) and $240 for 15 cycles per year.
We calculated it ourselves and determined $117 may be fair value. Which is in line with the other estimates.
This is all subject to certain conditions of course.
And there is always a degree of uncertainty.
We also said they will probably be valued at $10. Today. Or close to that.
I think you can see why.
Let's leave it at that.
Snow, the 40% margin that I mentioned is on the trade. ie buy/sell. As it will dictate the growth rate when resinvesting the profits.
The 10,000 tons rice is the target for 1 cycle. It's only a $10M investment.
Laxmi believes we will have to reduce inventory after the 3rd year. Because we will grow too fast.
Most of the profits will be reinvested. Also, margins are much higher than your 10%. As high as 40%. Also, we are targeting 10,000 tons of rice for the first year. This is a world of a difference compared with your numbers.
I have seen some numbers.
If we reinvest the profit after every cycle then you get exponential growth.
If we start with 1,000 tons of rice then the RISO tokens will be worth $78 after 5 years when doing 12 cycles per year.
If we cycle it 15 times per year then the tokens will be worth $240
So you can see how fast it goes up when the cycle rate increases.
We have the same principle and result for SWIM Gold.
So, there are many factors to consider.
How much can we start with?
How many cycles do we get per year?
How much physical supply do we have?
Can we maintain margins?
And all these things will determine the result and token value.
Let's leave it there.
Almost done. We will be close to 60M RISO 👍️
Yes, we will have good growth on the volume side and profits per share. Probably more than you think.
We already have a supplier and 30% margin. So 20% longer term is conservative already.
We are getting ahead of ourselves. I will get some numbers from Laxmi today. Perhaps we will share some later.
Yes, Snow. Usually we get 10% sweat equity (could even be 20%) plus 2% management fee per year plus 1/3rd of profits above 8%.
Most of the rice is sold in the US. I'm not aware of the details.
We are looking at 30% profit margin. One reason could be, usually you need expensive bank loans in order to be able to trade it (internationally). We are also making it easy for the supplier by buying it from them (at the source).
Laxmi will share the numbers with me later today. But we already know that the issue price of the RISO tokens that are issued internally is close to $10. Which would give the Rice vertical a market cap of $1 billion assuming 100M tokens are outstanding (after dilution). This is all as expected. The RISO tokens issued to the public/investors could be worth > $100. But not that relevant for us. You can do the math yourself if you assume it cycles 12x per year.
Gold SWIM trades in a similar way. They have been doing this for a long time already. And we will also have SWIM for Plane Seats.
Again, I am not aware of the details. I have been working mostly on the 5 projects in Nigeria together with Alex Anigbogu and we have an Aqua RAS team of 5 strong as well, in Nigeria. Those developments will speed up soon when the funding arrives. But I haven't been working on much else so I am learning just like the rest.
This is new for me too. And for most of us. But I learned some things today. About SWIM.
The RISO tokens that are issued now internally, close to 70M, are like the shares in a company. The profits that are generated by the company are divided by the 70M tokens. That is all there is to it.
The tokens that will be sold to the public are also called RISO. But they are a different series. They function differently. They have different values. These tokens will be backed by 10 LB of Basmati rice per token, and they will cycle 12x or 24x per year. The client will get 8% return minus management fee plus 2/3rd gain above 8%.
There is no wealth tax on Plane Seats and Whiskey for 2023. Because they were issued on Jan 16, 2024.
Only Gold, Rice and Food Carts are relevant for tax year 2023 (in Norway).
It doesn't work that way. There are no MyCow tokens. They do not exist. You can look at MyCow as the parent entitity of all the verticals. Which is officially called Cow Group (I think). With MyCow being the brand name.
So, for rice we have 3 tokens
RISO = security token and SWIM (Systematic Wealth and Income Multiplier). Backed by 10 LB of rice per token. You are basically granting rights to the company to trade rice on your behalf. And they will cycle it 12x or 24x per year, generating profits on every cycle. Rice is purchased in India (now).
AROZ = utility token. Not active. These usually get burned when the rice is physically delivered.
PADDY = fractional acres for rice farms. Also not active yet.
RISO are the security tokens now reflecting ownership of the vertical company. Same function as ordinary shares.
And yes, 84 accounts have been created. With RISO tokens issued. The same way that ordinary shares can be issued.
The other verticals will follow soon. Gold, Food Carts. And then Plane Seats and Whiskey.
The RISO tokens should be worth close to $10 per token. We will know soon.
I hope that is clear.
I also discussed taxes with Laxmi recently. Would probably be good to share with you.
First, the income tax. Which applies to employees. I'm using $0.01 for the shares that were issued to me last year.
Some people were gifted shares, for free. In which case the gift tax might apply. But that is not relevant here. I have already informed those people.
Now for the wealth tax (if applicable in your country). If the tax date is december 31. For 2023 you should probably use $0.01 per token. Laxmi has given me the issue dates of the vertical shares.
1) Rice and Gold = 15 sept 2023
2) Food Carts = december 2023
3) Plane Seats and Whiskey = 16 Jan 2024
None of this info should be relied upon. I'm just sharing to help you get going with taxes.
I think most of the tokens that were issued yesterday were issued to employees. Because of the round numbers. Some will get more tokens than others.
As for the valuation, Laxmi is working on it. But it should be close to $10 per token. For most vertical companies.
Also don't forget, 3 of the vertical companies are paying the first cash dividend. That money is coming from Interups though. So Interups is basically investing in, and acquiring tokens of, the vertical companies. But that price is determined slightly different. For your understanding. So we are not talking about $0.01 anymore. That is in the past now.
68 holders now. Moving forward. Not much to discuss 😃
https://etherscan.io/token/0xb87CF5b60111A7145ddfcFcBD2D809088085E056
We will get the share price up, one way or another. I promise you that.
Bargain prices once again.
Laxmi will answer that one 😀
Money was wired, 2 days ago. We expect it to arrive on monday. Well, part of it. Most of it will go into Escrow for dollar match with an investor and doubling to $108M. But this is all according to plan. We are probably looking at a slight delay beyond the March 19 date as far as the dividends are concerned. But this is not important. What is important is that we will have really good funding going forward and the ability to pay several dividends before operations and cash flow will take care of it.
Don't do anything unless they tell you to. They already have your bank account number and bank info and they will use this to pay the dividends.
11) = Sugar & Renewable Energy (says Laxmi)
We will have 5 projects in Nigeria.
- Oil palm
- Aquaculture
- Coconut
- Rice
- Sugar
Cow Tax Inc got its EFIN and ERO permission from IRS
https://www.mycowtax.com/
The reason why we are doing this is because it will give the number of IRA clients another boost, by offering these services.
My Square Foot Inc (the real estate vertical) also started today.
Also, more importantly, the transfers of money that we have been waiting for so long, should happen tomorrow before noon India time. This will get most projects going and also take care of the dividends etc.
We are working on these verticals now
1) gold
2) rice
3) food carts
4) plane seats
5) whiskey
6) aquaculture
7) oil palm
8) real estate
9) mining (iron ore)
10) probably coconut.
We are targeting 11 for the next 12-24 months. The "Magnificent 11".
MyCow is the 9 vertical companies. We could have 11 soon or 13 even, longer term. Think of MyCow as the parent company.
You will still gain shares in the other SPACs as well through IREEM. That will not change.
Not to worry. You have a wallet/account and we are filling the tokens. We have plenty of time to get you access to it. Almost half of the shareholders doesn't even have a wallet yet.
Laxmi indicated that you already paid for 9 verticals. I can't check but that is also how I remember it.
Snow, I think you paid for 5 verticals but I can't be sure.
I have asked Laxmi to clarify if needed.
MyCow is replacing myDhan. It is the brand name of all the vertical companies (tokens).
Cow Capital Acquisition Corp (CCAC) will remain the same.
Masala Capital will be renamed to Cow Capital Inc.
IREEM will be renamed to Cow Group (of companies)
We even have Cow Tax Inc now.
Interups will stay. But it will have only one subsidiary which is Cow Group.
And Cow Group is the collection of companies I mentioned with MyCow being the brand name.
So when people say MyCow, it is the vertical companies.