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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/
It is interesting to see cognitive dissonance at work. LMAO.
You all need to pay attention to what I am saying. EPS will fall off a cliff in Q2 down to the $0.00 - $0.30 range. It is practically a certainty with the crack spread close to $20.
Yes, the stock should have been trading at $8 six months ago when the crack spread was still at $40/barrel or $60 even. But the market was as clueless then as it is now. I am not surprised... But it's likely that you are going to get hurt if you refuse to listen to what I am saying.
Snow has probably told you much the same today. I'm not even going to read any posts on this MB or waste more of my time because I already know.
I can spend millions of dollars on a lawsuit against these assholes, and it won't hurt me a bit. And I am not the only shareholder either. So you don't have a clue what you are talking about.
Oh dear....
Also do not forget.... I am still the expert here.
Mike, and all the rest here... the fundamentals are no longer what they used to be. Although it is a bit better compared to a month ago, the party was over months ago.....
https://www.iata.org/en/publications/economics/fuel-monitor/
Sell now. Or you will get hurt when they report Q2 earnings. Which will probably be somewhere in the EPS $0 - $0.30 range.
Things are very fluid, MM. We already have access to M101. Some furniture is being installed. Final payment for the full 24 months will happen on or before July 19. We are already conducting business but on a smaller scale. And people are hired from all over. There is this one company that is not viable for some reason and we are getting a a lot of employees from there. That is where a lot of the SVP's and VP's that already have been hired came from as well.
I have seen another reply that was half a page long and was clearly generated by a bot. It was standard nonsense and lacked context.
Zhang is not to blame here. It's the Board of Directors as well as the parent company which is the Gansu provincial government.
However, Zhang has worked for an extensive period for the parent company in the past, so he has close ties. And he should be careful not to piss us off any further by sending us AI-generated replies.
LMAO with these idiots.
Sent minutes ago
And another Senior Vice President of Sales was hired today. Hasn't even updated his profile yet.
Moving very quickly now.
2 SVP sales positions filled now.
We need another 4 sales VP's
Most of them will also join this week.
https://www.linkedin.com/in/dennis-chang-38b1b342/
It is interesting that they haven't updated the C-filing yet with the correct EPS number. And yes, they have been warned. So the conclusion has to be that they are not planning to do this offering anymore.
Let's see what these losers come up with next.