I think the ITUP investors are up for a big disappointment. There is something in this that makes me stay away (except the fact that the share can not be traded).
The plans are grand, to say the least. The future will bring endless return on investment. And if we only look at the plans, this is a homerun for sure. A no brainer.
The question is, what has changed? The corporate website states that ITUP is a publicly listed company. To be honest, the website is in perfect correlation with the share price.
I suggested to LP that he'd hire RD. LP responded positively to my suggestion and "initiated the hiring process". Five months later and RD is still not working for the company.
It is nice of course that a CEO interacts with the shareholders on a message board. But when you get the impression that he spends more time collecting feelgood backslapping on iHub than executing the business plan, it is a red flag. If you can't even perform a hiring in less than five months, how could you possibly hire all the hundreds and thousands of people that are a part of the grand plans laid out here?
Three days ago we could read that LP "deeply respects his shareholder group". People may put different meaning into the word respect. When I was a shareholder, LP made recurring promises about filing audited financials and updating the website to a respectable level, none of which ever happened. What happened was that LP just altered the deadline, given by himself, time after time after time. Not what I would call "respecting your shareholder group". And then finally, the share was delisted and voilà - new plans, even greater and more fantastic.
When LP was asked how many employees ITUP has, he refused to answer.
The article by Dr. Annurag Batra from Nov 2, 2021 was another red flag. I read somewhere that Laxmi said he'd sue Dr Batra for this. So did the subpoena happen? My guess is no.
So, yes, too many redflags. But I will start changing my mind when I see some sort of actual execution of the fantastic plans; SPACs, the promised dividend and the NYSE listing. Until then, I will not be holding my breath.
