Dear Karlacorn,
You have rightly addressed ...
"Management's job is to deliver results by establishing a vision, laying out a strategy, executing to milestones and mitigating problems. No business can thrive, let alone survive, if it simply assumes "....more problems could surface"... Objectives are never met in business without great planning and issue avoidance/mitigation."
IT is that continuous thrive and effort that helps the organization take the next steps than dooming into darkness, assuming uncertainty and getting perplexed when we face a situation...
I do not wish to again and again substantiate that we are diligently working to move forward and that moving forward does not just mean paying cash grants but in actually rolling the verticals to become live, placing the tokens into trading sessions and bringing value. We are actively moving towards making these tokens our currency system -- Despite any challenging environment, there is no disturbance in reaching the end goal -- to make these tokens available for distribution on a wider platform... The banking group has accepted to distribute these tokens to the 372,000 of its accredited investors and with 6 verticals live this brings us revenue....
On the cash grant, as i have disclosed in my previous note, there is a $31,000 penalty issue -- we have an investor to subscribe to this and latest by the 10th I should fly or be in Hong Kong. I am not a big fan of raising debt -- Rather we are planning to zero the debt completely as I have seen how companies collapsed getting addicted to the loan drawing. And that includes our past business -- we were not not even at fault but because of Lehman Brothers collapse and freeze on US Banks to have global exposure, our business working capital was called back that forced an abrupt business closure..The 167,000 tax returns filing business went into dust overnight because of the system failure and we just had to face it because of bank loan that was otherwise quite healthily maintained by us. And that was not the first experience .... My brother established a PTFE processing company with Habia Teknoflor AB Sweden partnership --- One of presses which was imported from National Forge Belgium met with an accident with a loose soil maintained by the warehouse and the press lid broke into pieces... As the material was containing nuclear element, he could never gain permission back with the global restrictive conditions then on Nuclear structures and banks that lent money seen my brother's life soaked in blood for no fault of his.... I may be over fearing but it is not easy for my mind to borrow money ...even with firm that has given us $600 Million matching line of equity, I have put a condition that they should convert the amount into equity at a premium that does not exceed their % beyond 20% in any of the verticals.
There is no intentional delay Karlacorn, We will deliver .... For a normal mind, all this what we are going through looks complex, uncertain and not happening but I look at myself the other way. We are able to fix these at our budding stage. If the same issue would have cropped on us after we get fully funded and our verticals become valued, the fine would then have been vulturous....... I am just thanking stars that we are able to solve issues before it turned big. And even this $31,000 fine is not for something wrong we did... Its a very very old 2007-08 issue on failure to submit some forms on the $4.22 Million wire remittances to the Indian company we remitted then. This matter did spring up when we were bidding for Air India....
yes we have journeyed through a bunch of thorns but we were able to successfully clear our path and moving into a great direction...
We are moving with great speed in the distribution arrangement and enabling the trading platform that will trigger for us deep valuations.
sincerely,
Laxmi Prasad
