Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Things are getting very complicated now. I'm just glad I'm paying tax as an individual and not as a company.
So by "monthly combined" you mean "monthly combined for all verticals". That wasn't clear to me, but it is now.
It's not an issue for me. But it may be an issue for those paying their taxes quarterly in 2024 as they have to correct this. It may apply to those who have their own company.
From the email 8/26
If the bankers say so. Who are we to argue with them. Now the focus can go to implementation. Which will be the hard part 😃
I suppose you will offer both, the stablecoin as well as the standalone token we have for AERO and SURA currently? So people can choose?
AERO and SURA don't have to be stable. IMO. There is no need for them to be stable. People want to invest in opportunities. People want to hunt for bargains. And adding gold is an artificial way to create that stability. It just doesn't feel right to me. I'm also having some serious doubts about feasibility. But I have no problem with gold. Did you discuss this with the banking group? For AERO and SURA? That is what I would like to know.
Why? Why stablecoins? AERO, SURA and SIRI are already security tokens. And when offered they are called security token offerings (STO's). Nothing new.
I don't see this working for AERO. They aren't stable at all. Nor do we need them to be. And besides, we will have a whole variety due to the fact that every individual airplane will be a separate token series. As discussed previously.
I would stick to gold and gold only. When introducing stablecoins and a potential new currency, backed by real assets.
They check this stuff extensively with lawyers, what passes the Howey Test, and therefore qualifies as security tokens. Because the risk is simply too big if we get it wrong.
And SWIM tokens are definitely security tokens.
Sure my plan is on. But delayed a bit. Looking at october now. Perhaps some smaller purchases in september.
If we want to become the biggest (and of course we do) then we probably should be more active in real estate. Harsh should know what else we can tokenize. Debt? Mortgages? Equity? Automotive?
Yesterday I noticed that the tokenization market for real world assets is expected to grow from $0.5 trillion now to $10 trillion in 5 years time. That doesn't even include all the stuff that we are doing like gold, rice, plane seats, plantations etc. Well, because nobody has a clue.
One has to wonder if this force will be big enough to finally crush the stock market. Because one thing the stock market isn't used to is..... competition. So we could actually see more normal (or even depressed) valuations in 5-10 years ?
Like, this post would definitely qualify for removal. Because it doesn't contain an update 😀
i will simply remove every post of yours that doesn't contain an update in some form. How does that sound? 😃🐄
Laxmi, you just wrote a 3-pages long goodbye and minutes later you are back to posting again.
Please..... this is all so predictable. You can't control what people say about you or the company. Simply the way it is. Simply something you will have to accept. And I told you months ago that it is better for you not to be here. Even if that means we will miss the updates. Because everything happening here is quite predictable, really.
$3 billion assets under management (AUM). The company doesn't own them.
It will be fun to get paid weekly. Almost like receiving dividends every month. But I remain skeptical that the sales will happen as planned. Because you know by now how it goes with startup companies, right. Never any luck. Never a lucky break.
I assume that Harsh is also responsible for RISO (Rice SWIM) sales. And all the projects in Nigeria?
And Madhu, Azmat, Shaista, etc ?
More delays for foodcarts?
You are not even a shareholder here. So get lost 😃
You sure could have finished them 3x by now 😃
No. I'm expecting people to wake the fk up.
Yes, you could even call it a hostage loan. Most employees have already maximized their credit card debt so they can put food on the table. But that doesn't seem to bother Laxmi. After all, we are "self-sufficient". By his definition.
I think the biggest problem has been that I am the only person pushing the issue. And I have done so for a very long time. Because I could see the trouble well in advance. But I have been all alone in this. Nobody else. Not the BOD, not the employees, and not the shareholders. Except you now.
I even told the company, if this ever goes to court (and let's hope it doesn't) then I'm afraid that the judge will BURY the directors of this company. There will be no mercy whatsoever. And they will never be allowed to manage a company again. Because in the end... it is their responsibility. It's not just Laxmi. It is the BOD overseeing everything. Their responsibility.
To no avail....
Perhaps all we can do now is pray, that the $2.59M will be credited one of these days.
That is not preferable. It's an obligation. Laxmi knows that much. That is not the issue here.
I for one am not looking forward to your notes anymore. As it will just be more of the same that we had these past 15 months. Still relying on sales. Hoping. Praying. But no execution. And refusing to take on ordinary debt financing to bridge the gap.
RD has spoken!
You just can't handle reality, Verstee. You can't accept the fact that the company is a mixed bag. A company of extremes. You have a digital brain. One or zero. Nothing in between.
We do not have 30 days, Laxmi. Employees are unable to pay their taxes. Some may be evicted from their homes. Personally I don't think that the partners in Nigeria will hold on that long and stay with us. I told you before and I am telling you again, for the 26th time. It is not good enough. Get us a loan. Do a convertible note. Do something. The company is imploding in front of our eyes. And yes, I have seen it happen before.
Karlacorn. I understand where you are coming from. But I don't think it is realistic to expect the cash grant happening this month or perhaps even next month. As september 4 is a critical date for Laxmi that may require more surgery. And he says he has to be there in Hong Kong to set up banking.
This is what I told you guys about months ago. It is better to have realistic expectations. It is better not to get your hopes up. We have the delays and it is frustrating for all of us. But it is a reality we have to deal with.
We'll get the notes from Laxmi. But I'm afraid we will be back to where we were, with more plans, more promises, and no execution. No results.
Personally, my patience has dropped to zero. After being 2 years with the company. I'm actually proud of any given day when I can still have a civilized discussion with Laxmi without getting into a fight. Because we do fight frequently. Although I have to be careful now due to his health condition.
But I am also a person who always tries to be objective and fair. Laxmi does have deep knowledge.Valuable insights and vision. And I think we should be close to solving the liquidity crisis which are mostly impacting the employees currently, not just the shareholders. Not all of it is his fault. Not a lot of mistakes have been made. Only 1 or 2. But that is how it goes with startup companies. You usually do not get lucky. Consider how unlucky we have been as we are still waiting for the $2.59M to credit in the US. It's our friggin money that the bank is holding. And perhaps we should be filing a complaint. How on earth is a company supposed to run a business with these kind of delays?
But as I said, we should be close. And no doubt sales will be ramping up soon. And a lot of cash will be generated from mostly the SWIM tokens. And we will pay monthy dividends starting in october. And 6-12 months from now we may be able to double that.
All that being said, let us wait for the notes (tomorrow).