Friday, September 30, 2022 5:17:35 PM
I have clearly written Kautilya will reduce to 9-10% and the rest of 41-42% will go to network associates, managers, compliance managers, Regional Presidents, Research Specialists, SVPs and President who all will gain equity once they turn licensed.
Other than WM Network, we have 4% share for each of key promotes -- Myself, Geetha and Mahesh -- we are co-founders of this entire vision and each of us share lion's share in placing this expansion. Rest executives are gaining 1% equity.
ITUP Shareholders are gaining 26% Equity in the WM Firm + 40% Equity in the Gold Trading Firm.
It is not because we are not getting cash compensated but it's because we are the cause of this vision itself but we limited our share to 4% each in Masala Capital and My Gold Grams Inc. Kautilya will have a final 9% (though he currently holds 51% for licensing purpose) but that 42% will get distributed within the licensed group that Masala recruits and employs.
Hope this clarifies.
Laxmi Prasad
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