Monday, August 19, 2024 12:46:02 AM
1) I have studied over 200 startup companies and they all struggle like this. That shouldn't be an excuse. But still, it should tell you something.
2) I also said this is a company of (massive) extremes. On the one hand, huge potential and don't be surprised if we enter the top-100 companies of biggest market caps in the world in about 5 years from now. On the other hand, struggling with internal financing like none other
We've been unlucky. We should have received $43M investment 15 months ago. The money was even transferred into our accounts. But it was put on hold and investigated by the authorities. So then we decided to sell $50M+ of assets in India and transfer the money. We should have received that money a long time ago but there are many regulatory hoops we had to jump through. Being a startup with no track record has caused delays as well. As well as the elections in India. Nevertheless, $50M of the money is available in Hong Kong now. We just need to send someone over there to set up banking so we can pay the dividends. It will happen, eventually. And the $2.59M that was wired to the US should be released any day now.
In the mean time, we have made some very good progress. Sales will be ramping up very soon. With a growth rate that you have never witnessed before. And we have signed a number of agreements with a very large banking (group) in Europe. Who will help us sell tokens.
Do not underestimate the progress we have made. The number of tokens we will sell. The value of the tokens. The number of verticals we will have. The dividend we will pay. The banking group decided to work with us for a reason.
Those dividends will come. I mean, really. We have the money sitting in Hong Kong already. It is just a matter of time. You are wrong about one thing though. The cash grants were never a binding requirement. Cash grants (or dividends) never are. But there is a commitment. And they will be paid.
Yes, it has been frustrating. But we are going to see some very interesting developments for sure. In the coming weeks/months. And in the years ahead.
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