Dear all,
All of your concerns need a full explanation from our end.
I apologize I have not answered until now - It is 4 am in India and I just woke up.
Your worries concern me because I just believe in holding the shareholder value and the shareholder like I believe in my self and my family and the team that is putting blood sucking effort.
I am here in India over the last 3 years away from my family and working hard to keep this company alive despite the many crucifying challenges we face in an environment that is totally complex and nerve biting compared to US Markets. in 2017 Indian Government introduced Demonetization effects that virtually killed many companies but we are still surviving. With bare minimum capital rise and no speculative market or fraudulent attempts, we are self-funding until today, brutally facing dire situations and consequences day in and day out but have not left our vision nor we lost confidence in the efforts we put in. Each 8K that we put may look a normal filing to the readers but every piece is an emotional fill for us. If we are writing today that we are launching functional operations in 9 verticals and 6-12 countries, this company might have achieved deep straights and foothold and drawn guts to write so to place its office in the most sought out address of the World - the 1WTC. Every step is an emotional fill... I sleep 3 hours in the night and take a 20-30 minutes nap every 4 hours but I work for this company all the time, I have not drawn and none of my team members have drawn compensation these 3 years but working 24x7 for the company. The stock of ITUP is our life - our compensation, our money and our effort. Please kindly understand, I am the largest shareholder in interest along with my family and shareholders.
Please also kindly understand, we have genuinely explained to the regulatory that we have been waiting for one financial closure and these six months have just gone in pandemic. We will be starting to file the unaudited statements and then audited shortly hereafter, but, genuinely explained our position and why we are delaying the same. Historical Financial Statements will mean nothing for this company in these past 4 years but the intrinsic value that it built. It will just be a recording dollar spent every quarter. But each dollar that we spent has its worth of effort placed in and as I have clarified some in this forum, We would like to present the company's fair value as a reconciliatory supplement to the filings and this will materialize only we close one financial transaction. We reported that we will be doing so on April 30 but could not until now due the complete closure of business happening until a few weeks back. India is still on its nerves reporting highest number of covid cases. This is why we took a decision to first file unaudited statements and then audited. All this said,we placed the future financial forecast first because I would like to enlighten each shareholder the worth this company gained. Past submissions are just dollar fills. And we will start filing them. We are committed and we will...as the largest shareholder in interest, none would loose as much as I would but we placed our focus and blood into the survival of this company first.
I request readers to recollect couple of disclosures we made earlier including that we are examining to list this company as a Regulation A+ company. AN OTC listed if its operating under loss does qualify to raise money under Regulation A+ and list in principal stock exchanges NYSE/NASDAQ/OTCQX. One transaction closure will directly help us initiate our efforts to pull the stock int NYSE. With stock listed at current meagre values, we are still able to confidently explain the investor groups of the value we are holding in it and seeking premium from them to invest into us now. $2 post split prior to May 31 2021 closure is like $60 current intrinsic value at which we are offering it to the group almost 10 times the price at which someone could acquire us on the markets. We are raising this money in the coming six months means we are on our road path to regularize the historical filings. We just would like to do it the right way and the most conscious way that we all deserve and this company deserves. Otherwise it does not take anytime to file a quarterly reporting especially when we are investing to keep the efforts live and sustaining until a financial closure. With a 4 years operating loss on historical dollar basis, we are safe to position ourselves as a Regulation A+ and switch to NYSE. And to do a Regulation A+ listing, all we need to achieve is raising $20 Million at a minimum and we have firm plans on table to get these figures rolling. Further, to have the Regulation A+ it is essential for the company to be audited and this means we are gearing into it. Why Regulation A+ -> Reporting is every 6 months vs quarterly and we could directly move into NYSE Tier 4.
Please kindly be rest assured we are progressing into it. We believe in ourselves - We believe in the efforts and as of today i have lived my life in transparency whether with shareholders or the regulatory. We never attempted any rampant speculations no market making nothing - We plainly believed in building value for the company in utmost ethical conduct and we are placing steps that rightly unfold these values for all of us.
I have not taken more than 1 hour to answer any of you when written - So transparently I am available 24 x7...And I appreciate all of you being with us and placing confidence in us...And I would like to advise we know nothing but working for this company to place its vision and objective at the pinnacle levels.
Laxmi Prasad
