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It's amazing that after 2 years making money like water, they still have a number of loans in default. And I see they are building inventory again.
And whiskey and aviation. Should have been paid for before Jan 16. Or perhaps not. It is hard to keep up.
But some people have paid more. Some paid less. So it is not set in stone what you own (officially).
Laxmi already answered your question. Gold will be issued soon. The rest after remittance.
But you own what you paid for. Even if the tokens are not in your account yet.
How do you know which verticals you paid for? Can you provide proof (on paper) which tokens you purchased?
So many problems. Imagine the problems I will be facing when the value of the tokens rise to $100 or even $1,000
Here is the latest. I was right, it is much cheaper. But can they make it work?
https://worth.com/first-lights-electric-gun-brings-fusion-power-closer/
https://firstlightfusion.com/media/first-light-fusion-announces-close-of-series-c-fund-raises
Oxford, UK: First Light Fusion, an Oxford-based global leader in researching energy generation via inertial fusion, is pleased to confirm the close of its Series C fund raise, raising $45 million from both existing and new investors.
Existing investors who have backed the fund raise include Oxford Science Enterprises (formerly OSI), Hostplus and IP Group plc. New investors include Braavos Capital and Tencent.
2021 has been another year of significant development for First Light Fusion. The Company procured, installed and commissioned its latest piece of equipment, a two-stage hyper-velocity gas gun nicknamed the “Big Friendly Gun” or BFG, which at 22 metres long and weighing 25,000 kg, is the largest of its kind in the UK. The BFG fires a 100 g projectile at a velocity of 6.5 km/s or 14,500 mph (about 20 times the speed of sound) into the “target”, the centre piece of First Light’s unique technology. The BFG complements First Light’s electromagnetic launch device “Machine 3” enabling the team to explore a different parameter space by launching larger but “slower” projectiles.
In the past twelve months the Company has grown to 67 people and has expanded into larger premises to accommodate the staff and the new equipment.
More recently, First Light was proud to have been selected to appear as one of the twelve showcase companies at the UK Department for International Trade’s Global Investment Summit (“GIS”).
First Light’s approach to fusion, which is safe, clean, and a virtually limitless source of energy, has the potential to transform the world’s energy system. Unlike existing nuclear, there is no long-lived waste, no meltdown risk, and raw materials can be found in abundance. Unlike many other fusion approaches, First Light’s power plant will largely leverage existing technology and materials.
2022 looks set to be another significant year for First Light. The new funding will be used to accelerate the development of First Light’s “gain” experiment, whereby the amount of energy generated outstrips that used to spark the reaction, and to perform further design and engineering work on a First Of A Kind commercial fusion energy power plant based on their technology.
Perhaps we should invest. This can solve climate change for us.
First Light Fusion has raised a total funding of $105M over 4 rounds. It's first funding round was on Jul 01, 2011. It's latest funding round was a Series C round on Feb 14, 2022 for $45M. 5 investors participated in it's latest round, lead by IP Group, Oxford Science Enterprises, Hostplus, Tencent.
To understand the principle, I think it works roughly like this.
A fusion reaction only occurs at extreme temperatures (in the core of the sun). These extreme temperatures are the result of extreme gravitational force on the core (which you get with very large objects like the sun), which in turn results in a fusion reaction. Which gives us "free" energy.
We are mimicking the gravitational force of the sun by using an implosive force that is 20x larger than the initial projectile (fired at it). This causes the heat, which in turn will result in a fusion reaction. Very interesting stuff. And probably much cheaper than the fusion reactor that other people are trying to build.
What is 4 cm long, louder than a jet engine and hotter than the sun?
1) I reckon you can't see his history of posts so let me tell you. ROCKHard is not a stranger. He has 317 posts (roughly half) on the SIAF board and another 41 on the HERB board. I wouldn't call us friends but we go back a long time, just like you and I.
2) He wanted to invest in IREEM/CCAC in 2022 and specifically asked Laxmi about it. But he was unable to invest as he wasn't an ITUP shareholder at the time.
3) I had been trying to sell tokens for $0.05 six months ago when the company desperately needed money. I could have asked ROCKHard but I didn't. I had to draw the line somewhere. But if I had asked him, he probably would have invested.
4) You are right. I have been telling people for years that SIAF would sink to the bottom of the ocean. And anyone who decided to stay on board has only himself to blame. That is not the reason why Rock is getting free tokens. I just don't feel like debating the issue because it is not all that relevant. People got hurt. For sure, and Rock is one of them.
5) I started by giving friends who have really helped me in the past 5% of my tokens. They received close to 50,000 tokens last year (a bit more for vertical 1 and 2). I later added some more friends because I have so many tokens anyway. Laxmi issued them from the company as he didn't want to reduce my stack. Rock is getting 10,000 now. I don't think it's disproportionate. It would have been disproportionate if we had given him 50,000. But we are not. 10,000 on 72 million outstanding is very tiny.
6) He is getting them from the corporate social responsibility reserve. So it doesn't cost the other shareholders a dime. That is what the CSR is for. To help people who really need it. And Rock has been following ITUP for years. He also knows about RAS (SIAF). And we are building a new MegaFarm giving investors a new chance.
All in all I think it's fair MM. Yes, taxes have to be paid. That is his problem. On the bright side.... most verticals aren't worth anything, yet. So no gift tax is due there.
Did you know that we are planning to build a 200,000 MT RAS farm for catfish in Nigeria? Much like SIAF's MegaFarm.
The total cost is $930M.
We already have a team of 5 working on that.
We can build 3 of them in Nigeria.
RAS will be one of the verticals. Soon to be added to the 6 that are live now (rice, gold, aviation, whiskey, real estate and food carts).
I told Laxmi this will be our flagship.
It's going to be very exciting.
Looking good for you, Rock
Let me think about it. I wouldn't mind giving you 10,000 tokens of every vertical. The cost for the company would be insignificant and yet it would set you up very nicely.
The company actually has 3,672,000 tokens reserved for corporate social responsibility. We just need a valid reason to grant some shares to you. It is best if you receive them from the company. Not from me. For administrative reasons.
Ok. So one valid reason could be that you have been supporting the company for a while. Because this is your 4th post on our message board. Perhaps anyone with more than 2 posts can qualify for a gift of 10,000 tokens. Which would also include tbirdman. And a few more.
This is my suggestion. But Laxmi decides. Let's see what he says.
In the mean time, check your tax laws. Are you from the US? In my country the rules are such that gifts from abroad do not have to be declared (are tax free). Only gifts from within my country are taxable. Although it is what it is, if taxes are due.
Don't worry. I will buy up anything below $0.50 when I have the money.
It's a mixed bag. Isn't it always?
We haven't been paid in cash, yet. But will be soon. The reasons for it? It's a combination of not focusing and bad luck. Isn't it always ? Yes, it has been a frustrating ride.
However, we have been paid in stock. Specifically, RISO (rice) tokens are in our accounts and gold tokens will be soon. These tokens are worth $27 a piece now. Confirmed by the banks. I was trying to sell these for $0.05 six months ago but nobody wanted them except one person. One person who got burned on SIAF. We gave him some free tokens as well. But all my close friends have a substantial stake. As well as most employees. They are all filthy rich (on paper) already. Personally I own 1.4 million tokens on average. Multiply that by $27. Multiply that by 6 verticals and we will have up to 37 verticals three years from now. These tokens could be worth $100 a year from now.
You could have been one of us. There is a bunch of people on here who loaded up for $0.01 8-9 months ago. They are extremely rich as well. You should have been one of us. After all, it was you who said the company should hire me.
I have no intention of debating your distorted view of reality in any way. And I am free to post wherever I want.
Karlacorn, he simply doesn't have the time for your inquiries because the roof will come falling down on all of us if he doesn't fix the liquidity crisis soon. I do hope you understand. And no, he shouldn't make false promises either all the time if he can't deliver. In fact, he shouldn't even be on this message board as I said before.
The banks don't read the nonsense that is posted by some on chatboards, Snow 😀
There are only about 12 frequent readers here. Other than that, the forum is pretty much dead.
That is one way to deal with it. I know someone else who lost his password and is unable to access his wallet now. But he can't be bothered either until we can trade the tokens at least.
I will check with Laxmi how many tokens you have. And send you a private message if it deviates from what you think you own.
Way ahead of you Laxmi. I already sent her an email 5 days ago. No response though.
But I didn't mention it could be more user-friendly.
What are you going to do with the bonus tokens (between mid january and now). This was discussed and supposed to be settled 2 weeks ago. It's getting in our way now, especially for Likhitha if we don't settle this now.
What are you going to do with the bonus tokens (between mid january and now). This was discussed and supposed to be settled 2 weeks ago. It's getting in our way now, especially for Likhitha if we don't settle this now.
Snow, you still don't have access to your wallet? Most people have received their log on details in an email.
Then you can see and check how many RISO tokens you own.
We also have 2-step verification active now on the trading platform. Which means you have to click a button and then a code will be sent to your email address which you then have to use to log on.
I'm just wondering what happens with all the money raised. 20% = 20M tokens x $27. The surplus cash is roughly 20M x $20 = $400M. You already mentioned this can be used by the company for operations. But who owns it? Is this this like a capital raise?
The other thing I wonder about is how the RISO tokens will be used to purchase and sell rice. Which tokens? Not the whole 20M I assume because you don't have that kind of supply yet? And then the profits will be divided by all 72M + 20M outstanding tokens?
I don't know, Laxmi. We will see. It's not all that relevant.
Yes, they probably trade more like SPAC shares during the first months. Flattish, low volume and boring. Hardly any movement.
Yes, same principle. Although I don't expect it to trade at a premium like stocks usually do in the overhyped stock market. There is probably going to be some selling pressure early on from some of the current holders but who really knows.
Laxmi knows how many tokens you own.
Snow, IIRC then you have close to 120,000 RISO. And 120,000 of every other vertical.
RISO tokens will be brought to market for $27. They will be issued to the public for $27. 20M of the 100M tokens will be underwritten by the banks. Same for gold and same for whiskey although I'm not sure if the price for whiskey has been determined yet. But gold is close to $27 as well.
Supply and demand. Selling pressure versus buying pressure. You know all this. The price will fluctuate. Supported (underwritten) by the banks, so that should provide some support for the token price. A year from now it could trade at $10 or $100. Depending on the factors we discussed previously like cycle rate and margins.
It's possible, that every token owner (there are close to 90 now) who owns more than 10,000 tokens will be a millionaire soon. Roughly 85% of the current shareholder base. Quite an interesting prospect.
Two series for RISO is what I heard a couple of months ago. But I recently learned there will be only one RISO serie. It's a security token and will go to market for around $27.
Karlacorn, I told you and indicated that we should expect more delays wrt the dividend payments, and I was right. The way I understand it, we have $50M sitting in Hong Kong now. First it needs to be cleared. Then we need to set up accounts. Even then we need 2 weeks in Escrow and double it to $100M before it becomes available. So I wouldn't target any dividend payments before the end of May. Best to keep expectations in line with reality, and be patient.
Laxmi is giving new meaning to the expression "Watching paint dry".
You'll be banned by admin in less than a week. They probably restricted your number of daily posts already. And it is sheer luck if they haven't already. But the result a few weeks from now is already known. If that is the future you want for yourself, please go ahead. And I will make sure that everyone knows you have been banned from the forum.
Yes, Laxmi. You shouldn't even be here. I warned you about this as well, beforehand.
The people I talk to (shareholders and friends) are losing confidence in you quickly now. And I find myself defending the company more than I want to. I'm not even supposed to be working now.
You can't keep delaying things all the time, miss targets and deadlines all the time. That is quite self-destructive for you and the company as a whole. It really doesn't take a genius to understand this.
Show us the money, Laxmi.
You should buy some HERB with that money and get in ahead of me. Because I'm going to rock the boat after I receive the dividends from MyCow.
Aren't you on a plane to Hong Kong yet?
I still see a lot of talk BUT NO RESULTS
There is nothing more for us to discuss. Stop this nonsense immediately.