AI
Friday, October 14, 2022 10:05:58 PM
(From Laxmi)
Dear All,
Fresh updates,
(a) We have moved to Atherton CA - pulling sleeves up...
(b) MyGoldGrams website should be up by this Diwali day, if not from November 1 it looks quite certain
(c) Financial Forecasting for WM IPO is complete (you may follow the attachment) - We should now move towards S-1 Filing. We are very hopeful of filing s-1 within 30 days from today.
(d) Induction of Director -- I will be discussing with Mark Zorko for inducting him onto the Board of Cow Capital - Being Public we need to have at least 50% independent Directors. Once the combination happens, I will want to absorb him as CFO as Mark is well exposed to handle Public Company Financial Administration.
We will be adding new directors as we are now moving closer to the IPO Filing.
(e) WM Firm Launch -- Masala Capital Inc WM firm that will later merge into Cow Cap is ready to take off... As discussed earlier, Kautilya will head this responsibility as Principal. I request all US Primary shareholders of ITUP to become licensed to support the fast track we are adopting now to roll WM business into Asset Digitization.
(f) Warrants Private Placement -- From Monday, we will roll out Private Placement -- We will be placing $9.0 Million in Warrants Subscription towards Cow Capital Working Capital until combination plus $4.50 M towards WM activity and Office Lease sign up.
(g) Office Space -- We have short-listed a couple of offices in the Santa Clara and Alvisa area near to Levi's Stadium -- Rent appears quite reasonable with ample building and open space.
We are negotiating The Quad at Tasman, Bunker Hill Lane Santa Clara -- It is like a campus with 2 buildings at 15.50 per RSF NNN and another 2 around 23.40 per RST NNN. Our Ask is $1.50 per RSF NNN flat and we agreed to lease the space for 7 years with 5 years lock-in. Their Rental escalation is 5% p.a. and we are asking 6% every alternate year or 3% p.a.. Entire setup should be plug & Play and we pay a rental deposit for the same along with Office rental.
We are negotiating all the 4 buildings that totals about 285,000 Sq. Ft space with enough room for people on-campus.
This will jump start our WM activity into Gold, Real Estate, Farming, Food, Whisky & Wine and Aviation Seats
Assuming a minimum of 95,000 and max of 285,000 space availability, this will help us plan and station around 300-900 employees working out of the campus beginning 2023...Part of lease negotiation, we have asked 4-6 months rental moratorium and agreed for 6 months rental deposit. Their ask is 10-12 months as we are a start up firm.
If this negotiation fails we are looking for either 210/230 W Tasman Drive San Jose (95,484 RSF) 2.45 per SQ FT NNN
or 2300 Orchard Parkway San Jose CA (116,381 SQ FT -- $2.40 per SQ FT NNN.
(h) Dividend Payout -- We are still waiting for shareholders data from Cede & Co as it has masked market participants stock details. We have engaged a service provider who should answer us back this Monday on when they will be able to provide us complete data. From the time and date we receive this update, we will be needing 14 days for Board Approval + 10 days Finra. Assuming we get updated with data on Monday/Tuesday, this means 24 days from 17/18 October which is 10/11 November. We are delayed by 1 month but this is purely on technical grounds.
(i) Exiting shareholders of ITUP -- They are given Oct 31 2022 as exit dates but their payouts will now happen around Nov 15, 2022.
We do not see any additional postponements and I will be releasing Promissory Notes to them next week dating amounts and payable by November 30, 2022. Rest all shareholders of ITUP will receive their certificates, dividends and shares in Cow Capital once the record date gets fixed upon release of data by Cede & Co.
(j) Asset Digitization -- We will start working with Digishares from Next Week on WM Product Digitization
As discussed earlier, we will be digitizing Gold Grams, Farm Acres, Real Estate (Hospitality and Healthcare), Whisky & Wine, Food Carts and Aviation Seats.
Will write further updates in a few days,
Attachment ---WM Financial Forecast 2022-23
Laxmi Prasad, BS (Acct) ACA (India) CPA (US)
Chairman Interups Inc
CEO & CGO - Cow Capital
5 James Avenue
Atherton CA 94027
+ 1 (646) 575 9161 (M)
Skype: Siriprasad66
Dear All,
Fresh updates,
(a) We have moved to Atherton CA - pulling sleeves up...
(b) MyGoldGrams website should be up by this Diwali day, if not from November 1 it looks quite certain
(c) Financial Forecasting for WM IPO is complete (you may follow the attachment) - We should now move towards S-1 Filing. We are very hopeful of filing s-1 within 30 days from today.
(d) Induction of Director -- I will be discussing with Mark Zorko for inducting him onto the Board of Cow Capital - Being Public we need to have at least 50% independent Directors. Once the combination happens, I will want to absorb him as CFO as Mark is well exposed to handle Public Company Financial Administration.
We will be adding new directors as we are now moving closer to the IPO Filing.
(e) WM Firm Launch -- Masala Capital Inc WM firm that will later merge into Cow Cap is ready to take off... As discussed earlier, Kautilya will head this responsibility as Principal. I request all US Primary shareholders of ITUP to become licensed to support the fast track we are adopting now to roll WM business into Asset Digitization.
(f) Warrants Private Placement -- From Monday, we will roll out Private Placement -- We will be placing $9.0 Million in Warrants Subscription towards Cow Capital Working Capital until combination plus $4.50 M towards WM activity and Office Lease sign up.
(g) Office Space -- We have short-listed a couple of offices in the Santa Clara and Alvisa area near to Levi's Stadium -- Rent appears quite reasonable with ample building and open space.
We are negotiating The Quad at Tasman, Bunker Hill Lane Santa Clara -- It is like a campus with 2 buildings at 15.50 per RSF NNN and another 2 around 23.40 per RST NNN. Our Ask is $1.50 per RSF NNN flat and we agreed to lease the space for 7 years with 5 years lock-in. Their Rental escalation is 5% p.a. and we are asking 6% every alternate year or 3% p.a.. Entire setup should be plug & Play and we pay a rental deposit for the same along with Office rental.
We are negotiating all the 4 buildings that totals about 285,000 Sq. Ft space with enough room for people on-campus.
This will jump start our WM activity into Gold, Real Estate, Farming, Food, Whisky & Wine and Aviation Seats
Assuming a minimum of 95,000 and max of 285,000 space availability, this will help us plan and station around 300-900 employees working out of the campus beginning 2023...Part of lease negotiation, we have asked 4-6 months rental moratorium and agreed for 6 months rental deposit. Their ask is 10-12 months as we are a start up firm.
If this negotiation fails we are looking for either 210/230 W Tasman Drive San Jose (95,484 RSF) 2.45 per SQ FT NNN
or 2300 Orchard Parkway San Jose CA (116,381 SQ FT -- $2.40 per SQ FT NNN.
(h) Dividend Payout -- We are still waiting for shareholders data from Cede & Co as it has masked market participants stock details. We have engaged a service provider who should answer us back this Monday on when they will be able to provide us complete data. From the time and date we receive this update, we will be needing 14 days for Board Approval + 10 days Finra. Assuming we get updated with data on Monday/Tuesday, this means 24 days from 17/18 October which is 10/11 November. We are delayed by 1 month but this is purely on technical grounds.
(i) Exiting shareholders of ITUP -- They are given Oct 31 2022 as exit dates but their payouts will now happen around Nov 15, 2022.
We do not see any additional postponements and I will be releasing Promissory Notes to them next week dating amounts and payable by November 30, 2022. Rest all shareholders of ITUP will receive their certificates, dividends and shares in Cow Capital once the record date gets fixed upon release of data by Cede & Co.
(j) Asset Digitization -- We will start working with Digishares from Next Week on WM Product Digitization
As discussed earlier, we will be digitizing Gold Grams, Farm Acres, Real Estate (Hospitality and Healthcare), Whisky & Wine, Food Carts and Aviation Seats.
Will write further updates in a few days,
Attachment ---WM Financial Forecast 2022-23
Laxmi Prasad, BS (Acct) ACA (India) CPA (US)
Chairman Interups Inc
CEO & CGO - Cow Capital
5 James Avenue
Atherton CA 94027
+ 1 (646) 575 9161 (M)
Skype: Siriprasad66
