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Don't forget that he has 2 highly educated children (Likhitha and Kautilya) who have been working for the company for many years. Hard working and experienced. And a third one just out of college is a lawyer now. We'll be fine.
Another change for the better then.
I knew you were going to say that. Still. I wasn't suggesting making any comments. Just let the money/donation do the talking. It could be the responsible thing to do. And next "opportunity" will be 4 years later.
We should start in october. It won't cost you any money if you were planning to pay $0.25 for the quarter.
When do you expect to receive the $2.59M in the US account. Tomorrow, monday or later?
Perhaps we can do $0.10 monthly starting in october or 3 months later. Dividends should be systematic so shareholders know what to expect.
There could be 2 reasons why they are not responding.
1) They aren't working on anything and they have nothing to say. In which case they should be fearful.
2) They are working on something and feel it is best to say nothing (until it is final)
It's not likely that they are doing nothing. Because we do have assets that are off-balance sheet that need to be resolved, one way or another. Which leaves option 2. My message has served its purpose. By reminding them and increasing the pressure. I don't really need a reply from them because it is all just talk if they they do reply. And, non-material because they can't disclose material information to a select group of shareholders (in this case me).
This is the reality.
Just a few more weeks and hopefully I will have the money to start buying up shares.
I doubt it. They will fear me even more 😛
Very disappointing. That we didn't get a reply.
Perhaps we also need a LinkedIn page for Cow Agri Corp?
Verstee, I have no idea what you are talking about. Nor do I care. You are not going to waste my time going forward.
I have nothing to say 😃
You already know. There is nothing else I want to talk to you about. And neither should Laxmi because he has better things to do and focus on. If I respond to your question then Laxmi will feel the need to post in his or the company's defense and we will spend the rest of the day discussing things you already know. We have better things to do.
I could ask you the same question. Why have you been "attacking" my boss (and me) since march 2023?
Please don't make suggestions that are wrong and inflame the situation more than is needed. You know exactly what is going on.
You are wrong. Everything is related to time. Everything! And everything has an expiration date.
Still waiting for the green light on Nigeria. The team there sure could use some inspiring words as well.
If you think the money is a certainty then you can ask Mike to start planning the trip to Nigeria. Today.
We have seen these targets many times before. So I remain very skeptical that the money will be in your account on July 19.
Monday, July 15. Let's see if you can deliver this time.
No thanks. I'm done answering your silly questions.
That is absolutely genius, LVerstee. Why didn't we think of that?
Some people from the SIAF/HERB board invested in ITUP when I invested in ITUP. Before I was working for the company. Perhaps 6 people.
Some more people invested in ITUP / IREEM / MyCow BECAUSE I was working for the company. I didn't even know about it in most cases. But I do have a number of "followers" from the past.
A few more I asked later to invest in Mycow. Only friends from the past who had missed out. When the company needed the money. Because the shares were still exceptionally cheap at $0.05 a piece. I found only one who invested. And I gave him quite a lot of free shares on top.
There was one guy later who really regretted missing out, and he was unlucky. So we still brought him on board. And another guy who didn't have any money. So the company gave him some free shares.
All those people will probably become millionaires. Thanks to our help. So STOP CRITICIZING us. FFS.
And we gave more free shares away to friends of mine. 6-18 months ago.
Because you seem to question (and ridicule) everything.
The reason why I posted it is because people are dying of cancer. People are dying of old age. And we have a whole bunch of employees that are suffering due to lack of funding. I want to create an awareness. That what we do really really matters. Look no further if you are looking for a purpose in life. Because this is it. As we are feeding millions of people in Africa. And every shareholder is helping. Every shareholder who invested in MyCow is helping, making it a reality.
Verstee, it is not about funds for 2024. We are planning 7 different projects whereas we only have 3 for now. We are planning 10x as many hectares the next 5 years. We will have 3 huge RAS farms in Nigeria. And we can do RAS shrimp and crabs too. When you add it all up it is truly enormous. It won't just affect Nigeria but the whole of Africa.
I do not feel I have to justify every post I make, to you. But let me tell you. I have seen a number of articles where politicians and investors around the world are touting big investments in Nigeria and the result is always the same - Nothing. They are perfectly willing to hype it for their own benefit or for political reasons but when push comes to shove they all lack the funds and the will to invest. Not us though. We will do this. We will have the funds and we certainly have the will. Even though we don't have the media attention, yet.
"Reviewed" means, reviewed by the partners in Nigeria (and approved) and also reviewed by Laxmi (and approved). It's a significant item and it tells you that the numbers are final. And so, we have sent the complete analysis of the RAS project to the banking group. Not yet for oil palm and coconut as it still needs a final review.
And the reason why I wanted to keep moving forward (particularly with the RAS project) is because this is the main reason of our visit in Anambra in about 6 weeks time. And if we have the approval and support of the banking group for this project (and palm) then we can be very convincing when discussing things with the government / governor of Anambra.
Because, if the government of Anambra doesn't give us something in return for all that we are doing in the region (and mind you, it is HUGE) then we will simply build the first RAS farm in Lagos, not in Anambra. So, support from the banking group matters.
Either way. It is going to be very exciting for all of us to follow these developments. It's going to be HUGE. Once we get that $2.59M remittance which we have been waiting for, for so long.
Oh, but the numbers I shared are very accurate. $930M is in fact the total cost (or capital investment) of the RAS project. The same applies to capex which is the same but excludes 10% sweat equity and currency contingency. These are the funds we need and these are the funds we will raise. Another reason why we can't keep changing it is because it would affect the number of tokens and pricing. So it has to be fixed.
And Cow will get 10% sweat equity, or $93M. In tokens.
Whether the $930M will actually cover all future expenses remains to be seen. But we have built in many precautions to make sure that it will be. So we can be better than 90% confident that it will be.
I have had some discussions with the Aqua team about it as well. They can move some of the numbers around. For instance, we have reserved $37M for a feed factory. But we are not obligated to build one. Or one of that size. It all depends. We could wait a few years and then build one. That is all up to the development team (our partners). However, for power/energy it is slightly different as we have reserved $200M and I told them we should target that going forward. If that means we will have a little more or less power/energy than planned, so be it. We have to fill the gap with generators anyway. Which we are planning will run 20% of the time. But that could turn out be 15% or 25% in reality once the farm is operational. Most of the other budgetted numbers they can move around though, as they see fit.
Even the capital investment for oil palm and coconut are fixed. The only thing I have to update is pricing of the products. But that will not affect the capital requirement. Only the yield, which should go up, especially for coconut.
And so, it is important to share these numbers with the shareholders. So they get a sense of how much income we plan to generate, and when. I also said we will ramp up to 100,000 hectares per year after the first year from 40,000 currently. If the banking group allows it. And if the partners in Nigeria can handle it. For me, it is not a problem. I think it is more efficient.
Of course, we still have to raise the money otherwise there will be no projects. But it is looking pretty good now with support from multiple European banks.
Well, Laxmi wanted to wait until after the elections (which have passed now). Because it is of a sensitive nature. Also, the partner there seemed to not act in our best interests on 1 or 2 occasions. And Laxmi doesn't like to be "ripped off". lol. He is very strict.
But yeah, a lot of work went into that one.
But India has a couple of problems. Land ownership is fragmented. And land is also very expensive. I much prefer Nigeria for this reason. Although we can't grow hemp there.
What I posted is just an overview of our projects in Africa. That is all. Nothing more. A summary. That I haven't shared with anyone. It's not a big deal. You should see it in that context.
As for farm value, it is not zero. It is something we can calculate. And this will determine whether the investment makes sense for our clients or not. Which is what it is all about. It may seem simple but it is not. I struggled for many months to make the first project (hemp in India) feasible. And I struggled with RAS too in the beginning.
This is for Oil Palm.
I didn't give you a balance sheet. This is just feasibility. Everyone understands that capex hasn't been spent yet. It will take years to construct the projects. It will take 4 or 5 years just for the palm trees to grow. (We are financing everything. All expenses. As you probably know)
But the good part is, it don't matter to us. Because all of the token sales will happen this year. And we will get 10% sweat equity. The partners in Nigeria as well, for all the work they are doing. Because they will have to run everything, from construction to operations to sales.
Add another 10% currency fluctuation contingency, and this will give you the total project cost (=Capital Investment in the overview).
These projects have been on hold for 6 months. Because we needed funding to pay consultants (partners) in Nigeria and also for the trip to Anambra as we will discuss these developments with the Governor.
What you see is the result of extensive analysis and feasibilty. We still need to do a tiny bit of work on Coconut and Oil palm. For that I need the help of our partners in Nigeria. Mostly on pricing. RAS Aqua I completed myself. I didn't feel like waiting.
We recently introduced the first 3 projects to the banking group. And also the feasibility for RAS Aqua. We will finance 25% from our SDIRA accounts and the banking group will finance > 50%, when we get final approval from them. Shouldn't be a problem.
So when we have basic funding (the $2.59M) then Mike our COO will immediately start planning a trip to Anambra in Nigeria. This will be very exciting. I don't think Nigeria (or Africa) has ever seen such huge investments before. Such commitment. And although we have been delayed by 6 months, we do have the support of several European banks now. Which is crucial. So we can get this going pretty quick. And as you can see, 1 palm token will cost you $100 = exactly 1 tree. So you will own one palm tree for $100.
We plan to get financing done (all of the token sales) during the 2nd half of 2024. For the first 3 projects. Ras, oil palm and coconut.