Thank you Snow, that is a very valuable piece that you shared and I will discuss this adoption,

One thing to consider for both Laxmi and his people and all owners of the tokens:

I googled utan issue when it comes to the risk of having high value in one digital wallet. Digital wallets are very vulnerable and if the private key is somehow lost all value in the digital wallet is lost. I made a very quick google search to see if it is possible to circumvent this risk. Here is a quick comment I found (it is expatiated but I cite only the conclusion: "Bottom line

Use at least 4 wallets: one for managing day-to-day transactions on a centralized exchange, one for hooking up to DeFi, and two for storing larger amounts of crypto in cold storage either on a hardware device or a vault.

Avoid storing significant amounts of crypto on a mobile device or in one particular wallet."

Of course the same goes for tokens as for crypto because they are based on the same technology. In our case one option would be to have a digital wallet for every vertical, or even two if the value is for instance more than a million dollars. Doing this would entail a bit more work for both parties but it seems an obvious choice to me when a lot of money is involved.

Thanks RD!

That is one way to deal with it. I know someone else who lost his password and is unable to access his wallet now. But he can't be bothered either until we can trade the tokens at least.

I will check with Laxmi how many tokens you have. And send you a private message if it deviates from what you think you own.

RD I don't and I prefer not to have that access at this stage. I guess access also means the private key. If I somehow lose the private key I have the impression that I also lose the value of the tokens in the digital wallet.

Way ahead of you Laxmi. I already sent her an email 5 days ago. No response though.
But I didn't mention it could be more user-friendly.

May we release a note for token holders RD -- Please kindly email Likki and I will also place a message...

We are planning a complete cash flow cycle for the next 3 years including our investments into extended verticals and Token Aggregator platform --
Will send this to your review this weekend,

It's not very user-friendly either. Quite the opposite. It took me a couple of minutes the first time to figure out what I had to do here.
If you click the button (which is not really a button) then nothing happens although you do get a code sent in an email.

Will ask her to update RD,

What are you going to do with the bonus tokens (between mid january and now). This was discussed and supposed to be settled 2 weeks ago. It's getting in our way now, especially for Likhitha if we don't settle this now.

What are you going to do with the bonus tokens (between mid january and now). This was discussed and supposed to be settled 2 weeks ago. It's getting in our way now, especially for Likhitha if we don't settle this now.

Snow, you still don't have access to your wallet? Most people have received their log on details in an email.

Then you can see and check how many RISO tokens you own.

We also have 2-step verification active now on the trading platform. Which means you have to click a button and then a code will be sent to your email address which you then have to use to log on.

I'm just wondering what happens with all the money raised. 20% = 20M tokens x $27. The surplus cash is roughly 20M x $20 = $400M. You already mentioned this can be used by the company for operations. But who owns it? Is this this like a capital raise?

The other thing I wonder about is how the RISO tokens will be used to purchase and sell rice. Which tokens? Not the whole 20M I assume because you don't have that kind of supply yet? And then the profits will be divided by all 72M + 20M outstanding tokens?

Dear Snow,
I deeply appreciate the points raised -- trust me, we are seeding our steps towards strengthening our environment and this is part of our agreement with the banking group that is launching the platform as token aggregator -- we will be migrating our tokens onto this platform and have successfully negotiated our substantial equity presence (20%) like how they have taken 20% interest in our verticals. Platform being lead by veteran bankers, is planned to offer a very versatile yet secure platform.

On trading, we are updated that these bankers will begin circulating to their accredited Non-US customers and I am sure their interest spread increases as progress into the trade cycles....

Will be covering more in the next few days,

Laxmi Prasad

Dear Laxmi,

Thanks for addressing in some detail a question I raised. I find the information you provide very encouraging. I have tried to analyse some numbers and it strikes me that it is crucial how fast investors are buying the 20 million units (tokens) that will be offered since this is the basis for buying rice in India. I understand how it will be very rewarding for those who buy these tokens for 27 dollars per token if all the tokens are sold. It is some sort of virtuous circle. But if only a fraction of them were to be sold it will be way less rewarding to buy them.

I don't plan to sell my tokens during the first few months but it seems wise to sell some before the end of this year to enable me to pay a substantial wealth tax based on the value of my warrants at the end of this year. The private key in digital wallets is very vulnerable. If I were to lose it before I have acquired the cash to pay the wealth tax next year I might be in great financial trouble.

Dear Paladin, Vikas, Steven or anyone for that matter --
If you guys have anything to get clarified, you have all the freedom to ask on this board but using proper language ...
There is no hesitancy from my end to address anything and everything ...and my responses are always instantaneous...
I am extending this in public footage...

I am just pitying you....)
And do not become the cause for us not accepting these people as employees as their discussion with you will be a confidentiality breach. And you have noted in public domain, in this hub, that you are interviewing some of these employees and they are talking to you internal matters of the company even before they have begun their work. And we have even served this breach on them last week...

Laxmi Prasad

Dear PaladinOcean33,
As I said, I know who you are...
2. On compensation --
we have all been working without cash compensation for over several months now and to compensate the wait, we have issued ourselves with equity into the company. And there is a specific reason for our action ...
3. On the Indian Company that you are talking about, we have responded well to them and not fallen into their Trap...
4. It is only after the Indian Company terminated these employees, we have accepted them to work for us but technically as of now, we have not endorsed any work to any single member who migrated from there because we are waiting to check any legal trap on us... I have 40 years of Industry experience and I know with what stupidity these companies react...The Company you are interviewing may have taken birth in the late 80s but I am in the industry since my age 18...Having played on the market, I know every nonsense that happens and the hidden traps... We are very careful not to fall into any of those while remaining stubborn on our steps forward...
5. I am in contact with everyone of these members who joined us, and supporting individually those who are in extreme need of cash but not as payroll and we are definitely watching everyone including those who are in interaction with you...

You are needlessly wasting your time -- I am a very open book and I keep everything in open transparency....and we probe everything 360 degrees. Please be aware the ball comes and hits one with the same speed that one attempts hitting on the wall...

You have crossed your limits of abuse time & again addressed me with improper language --
I forewarn you that I do not do anything without a legal validation and please not eat goose (i know you know what this means, but it is not the shit word)...
as it will have tremendous repercussions in your life that will make you not attempt what you are attempting on me on anyone in your lifetime...

I completely know what is happening at your end,

Lastly be aware, I am writing every bit of this in open public, whereas you, abusing me with all impoliteness, are unable to even identify yourself....
And you are writing to me of your cleanness....

Laxmi Prasad

Laxmi I have been interviewing with Datam... Company Operations managers
& Some of your so called employees
I will be publishing soon
The reason why I am here to aware rest of employees of yours, might be they are watching this but still in delusion that laxmi will not do unfair with them
Laxmi is a fraud 🤥

I don't know, Laxmi. We will see. It's not all that relevant.

The Trading moment depends on how institutional clients are referred to us or how we penetrate our own ...
Price depends on the commodities markets and our inventory cycles...

Yes, they probably trade more like SPAC shares during the first months. Flattish, low volume and boring. Hardly any movement.

I think people like you have ample time in your life on others as you have nothing else to work, I pity but that appears to be the realism...

Dear RD, Snow and All,
These STOs (RISO) are offered are to ITUP Shareholders as under Co-founder status and to non-us persons, a limited number of shares under Regular S of the US Securities Act, under Co-Founders.

2. None of the tokens/shares were issued at a price range other than between $0.01 to $0.10 per token, which price did not even cover our costs like the gas price that crypto world charges and the administrative cost of maintaining these tokens. But, That negligible amount was charged, as there should be consideration payable to have it not termed as Bonus/Grant issuance.

3. The presented financial estimates provided a reasonable comfort for us to assume a $10.00 valuation per token effective the Jan 10 2024. We have not sold or raised any capital at this price from any shareholders whatsoever as this price was not our target market price with the valuations assumed on these tokens at the end of the 5th Financial Year and the valuation assumptions were achieved using Present Value Analysis applying Discount Factors that factored company level, economic & Transaction level financial risks based on the country jurisdiction Purchasing Power Parity (PPP).

4. When negotiating with one banking group, we were able to convince them to base the price at $27 per token as that price offering, the value of the investment would double for an investor if the inventory cycling is 15 days for Gold & 45 days for Rice, subject to the fact these assumptions work as estimated and the business and factors (internal / external) function in the expected normalcy. The banking group is convinced to base this price when placing their investments to their institutional / accredited client base.

5. Price Fluctuation -- Please kindly note that the price swing on these units will not be like how investors would play on these units but on how the value of these commodities change in the market and how the Net Asset Value of the token will reflect which depends on the inventory cycling that we are averaging.
To example, Gold is now at $27.00495 per Token at the current spot price of $2,306 per Oz. Our Market Module will base the price thrice in a day depending on then prevailing spot price of Gold -- 6AM, 2PM and 10PM PDT.

5. Now how can buy or sell -- The qualifying seller, subject to regulatory adherence, can create an offer to sell in their Dash Board by accessing the Market Module.
And an interesting (either referred by the Banker's Group or by one of our representatives wherever in the world (non US)) can create an offer to purchase and it it matches, then the transaction consumes. One cannot expect the speed of execution in split of seconds like how the stock market functions but it depends at what speed the distributors (including the banking group) refer prospects to us and how quickly we close each of it... But I am foreseeing a reasonable/decent traffic after 3 months...Quite a sum that will absorb the 20 Million units and those that placed by any interested sellers like Snow (a non us person) .... Typically most of these offer and purchase will as private placement to qualifying investors as per the laws of the local jurisdiction. The trading platform is not an online broker but a market module within our system to match offers as a private placement.

Now to those who are attempt to defraud us by placing their negative mouths here on this I-Hub, I am very open to a subjective discussion if they follow professionalism, subject knowledge, decency and reasonability...If they cannot, I would ignore their fraudulent attempt until it forces us to take any necessary actions that befits their attempt to defame and defraud this company and its founders of their potential in the wide definition that it reserves our privileges.

More instructions will follow on the trading module once we successfully trial run and plug it into finality,

Sincerely,

Laxmi Prasad

This guy Laxmi will keep scamming people...I find these investors are fool & stupid
All those investors are funding not only laxmi but also to his family..they will live better life and these fools will keep on dreaming for their returns

Another 69-70 fools so called employees are waiting for their salaries from last months
No dividend no salary
Now you whoever watching this figure out were it is going

I am not sure who these few individuals are that sometimes appear without their identity and talk about others being scammed --
if anything they understand how the stocks or units on this company/group are offered, whether they are even offered to any outsider and even to insiders at what price and if the law is against such sale, then these unidentifiable elements have any right to speak on the hub that has shareholders and the management exchanging their conversation. Otherwise, I consider them as scandalous ignorable elements. As their writing is without substance and without merit and without even any identification, I can call these feeble elements that now and then flash here as big time fraudsters and scammers or with an element of vengeance / sour ... But I am advised I should not respond to any unidentified person's fraudulent attempt on this company to marginalize us....And I would not be responding to their rascal / vindictive language....

I am responsible to my shareholders and I will continue to respond to them,

Laxmi Prasad

Vika I have investments in normal shares as well. Right now they are worth about 110,000 dollars. I am not rich at all (if my tokens are more or less worthless) and live in an appoartment of about 40 m2 that I don't own. Anyway, I am 81 years and according to my will what I own when I die will help teenage girls in Nigeria by providing information about contraception.

Yes, same principle. Although I don't expect it to trade at a premium like stocks usually do in the overhyped stock market. There is probably going to be some selling pressure early on from some of the current holders but who really knows.

Laxmi knows how many tokens you own.

RD My calculation has been that I am supposed to own about 84,000 thousand tokens in each vertical because I paid in cash corresponding to about 754,000 tokens. I don't see how you arrive at a number that is about 50% higher. If I don't misunderstand the 27 dollars per token is similar to a situation where a stock is launched on the NYSE at for instance 10 dollars per share. That is based on a valuation of the stock and normally it starts trading at a certain premium. But subsequently the pps is free to move anywhere based on market sentiment. Is t his a fair analogy?

Snow, IIRC then you have close to 120,000 RISO. And 120,000 of every other vertical.

RISO tokens will be brought to market for $27. They will be issued to the public for $27. 20M of the 100M tokens will be underwritten by the banks. Same for gold and same for whiskey although I'm not sure if the price for whiskey has been determined yet. But gold is close to $27 as well.

Supply and demand. Selling pressure versus buying pressure. You know all this. The price will fluctuate. Supported (underwritten) by the banks, so that should provide some support for the token price. A year from now it could trade at $10 or $100. Depending on the factors we discussed previously like cycle rate and margins.

It's possible, that every token owner (there are close to 90 now) who owns more than 10,000 tokens will be a millionaire soon. Roughly 85% of the current shareholder base. Quite an interesting prospect.

Snow. I wish you good health and many years of life. But don't waste your money and time on this scam! I'm sorry you paid more than anyone else. But this person is accompanied by lies and bad luck. They will go with him for the rest of his life. This is not how business is done and such people end up no longer seeing the line between lies and truth and they will deceive themselves and others!

Here are sheep being sheared). I warned back in December that there would be no payments by the summer, but now I propose 1 to 5, the same as by the end of 2024. Note that the scheme changes every time. A couple of years ago it was a SPAC, at the end of 2023 it is a dividend. Nowadays there is little talk about dividends and more about tokens that any schoolchild can create. You were given tokens for your own money. You paid almost $50,000 for something that has no value and are still talking about taxes. Yes, you are funny and stupid! Another 10 years will pass and you will spend them on scammers! Fools! Better send money to a detective so that he can identify the fraud and put the swindlers in jail!

Thanks for the information Laxmi! Does this mean that I don't have any RISO tokens in my digital wallet after all? If I have more than 80,000 RISO tokens will it in some weeks be possible to sell them for 27 dollars a token (which seems hard to believe for me) or what price can be expected but not guaranteed in the current circumstances? I think it is quite important to have this cleared up since there has been a dramatic change in plans as far as the RISO tokens are concerned at least.

Are y’all still here??

Dear RD,
You are right, There is only one STO (Security Token Offering) on Rice - RISO, and it's base value for trading launch has been set for $27 per token.

Snow, We all have RISO allocated for us and very recently one banking group from the European Union agreed to circulate, distribute, and underwrite upto 20% of each of the vertical's tokens under Reserve Now Pay Later method allowing the subscriber to pay 10% upfront and then balance monthly over the remaining 9 months. Any default out of this will be bought by the banking group not exceeding an additional 4% of the post allocated units in aggregate.

Riso issued under Reg S could be offered for sale provided they are offered outside of the United States by a non-US person to another non-US Person.
The main purpose of bringing the Market (Trading) Platform active is to enable these placements between non-US Persons immediately and then progress into having offers exchanged between US Persons (6-12 months) by acquiring US Broker Dealer License. With our presence and focus spread even outside of the United States, this deeply helps us turn liquid and remain liquid.

We also have AROZ for Advance Rice Purchase and PADDY for Fractional Rice Farming Ownership. While AROZ is a performance (Utility) Token, Paddy again would be STO (Secured Token Offering) subject to adherence to the Regulatory.

Laxmi Prasad



Laxmi Prasad

Two series for RISO is what I heard a couple of months ago. But I recently learned there will be only one RISO serie. It's a security token and will go to market for around $27.

RD I have a question regarding the two series of tokens. Recently there has been some information about a valuation of 27 dollars per token which I assume relates to the other series than the one we are owners own. Our series are utility tokens? The value of our tokens will of course more or less depend on the success of the other series of tokens but they have no fixed value. The owners of the other series of tokens will receive two-thirds of the profits genereated plus a certain interest rate whereas our series of tokens will receive one third of the profits and a certain charge based on administrative services performed. Have I misunderstood anything or is all the information we have received about the two series of tokens valid no longer?

The regulatory, Snow...
When any large remittance is wired, both at the origination & Destination the wire is subject to regulatory clearance...

Laxmi Prasad

RD Do you know what clearing means exactly in this context? For instance who is to do the clearing?

I would like to write to all,
We will see cash grants paid out -- But when, I do not wish to speculate this in responsible leadership.
Seeing this credit remains certain but It will definitely takes time.
We are working to set this investment clearance in priority but until it clears I do not wish to speculate on the date(s).

Delay is definitely not intentional but I have no control over the time it takes, I am just working my best...
Currently, until this clears, I am just focussing on sales and the ways and means to enroll sales for the company!!

Laxmi Prasad

Karlacorn, I told you and indicated that we should expect more delays wrt the dividend payments, and I was right. The way I understand it, we have $50M sitting in Hong Kong now. First it needs to be cleared. Then we need to set up accounts. Even then we need 2 weeks in Escrow and double it to $100M before it becomes available. So I wouldn't target any dividend payments before the end of May. Best to keep expectations in line with reality, and be patient.

Sometimes, we do have to wait for the grass to grow though it is boring for us...
It will take some more time for us to have clearance but we are working towards pushing this into priority. Beyond this I cannot write..

At this hour, in the specific situation we are in, there is no other way to fund this company other than by sales until the clearance moves. We are definitely working on this but until then we do not have any other means but to push the sales...
Nothing else at this hour matters no matter in how many different ways we are discussing this subject..

However, I will not mind writing, In a way we are blessed, as I see this as God's push on us - He is forcibly pushing us into sales,
And our timely sensing has perfectly helped us build our readiness into sales, pending clearance...

1. We have pushed the trading platform into readiness for rice and we are now working on placing Gold and Whiskey on Polygon that offers lower transaction cost per trade. This will enable us set trading on the three verticals -- Gold, Rice and Whiskey.

We are readying the market placement on these three verticals and also working on introducing this as a mobile app and beginning of this should give us enough money to draw and take next steps.

2. We have closed on all the terms with the banking group and they are now ready to execute the agreement which means they will soon be ready to private place these tokens among 372,000 accredited investors.

3. I have roped in a few CPA friends of mine to circulate our product offerings to their clients on a 4% commission.
Investment into STOs is nothing but raising capital with the difference that in such a raise, we have 2/3 of that money as surplus cash to meet regular operational capital. To quantify, $18 out of every $27 we are charging per token is available to meet operational needs. If the unit offered is non-STO, then we set aside another $2-3 Dollars towards interest obligations and other expenses and use net $15 towards operations. Overall, at a minimum, we will have $15 per token out of every $27 per unit.

To smoothly address the customer, We are readying this sale as
(a) STO offering;
(b) 9% secured convertible (performance Token convertible into an STO at the end of 9 months at 10% discount to the prevailing market price then); and
(c) 10% non-convertible offering, redeemable at the end of 9 months

I will be updating on my date of travel to Hong Kong, but until then this is my current activity, to ensure that we move into the trading platform and start selling,

Overall, we might be waiting for the initial grass to grow but once the grass germinates from the ground, we just need to frequently keep cutting it (revenues) periodically and maintain our lawn healthily )...

Dear Karlacorn, This said, we are sure to get the clearance on larger money that we are waiting for to have the cash grants paid. We are delayed but the delay does not mean we will not get this paid out. We are working for it be processed on priority but I do not have specific timelines -- I can only promise that I am working diligently on the subject,

Laxmi Prasad

Laxmi Prasad

Laxmi is giving new meaning to the expression "Watching paint dry".

Looking forward to it. Thanks for advising.
K

I will have an update in the next 2-3 hours Karlacorm...

Laxmi, thanks for the info. Looking forward to the early AM update!

K

Still in the US, Karlacorn --
I am still waiting on the regulatory clearance which I will know today late night (Monday afternoon India hours) --
Without knowing on the clearance, landing in Hong Kong and waiting there will be waste of time and our limited resources.

Until this is confirmed, we are in the meantime working with the Token Platform service provider to set the trading market place ready for tokens to begin trading.
Team is working in parallel to test scale 48,000 tokens of gold and rice verticals each token issued @ $27 base price ...following 15 days trade cycle for Gold & 45 days Trade Cycle for Rice. Once we establish this inventory Turnover, we will then improve the token availability to 240,000 and reduce inventory cycling period from 15 days to 5 days for Gold (may be even to a daily trade cycle as rotating 100 ounces of gold will not be difficult) and 20-30 days trade cycle for Rice (100 Tons).

The Banking Group agreed to circulate our token issuance to their 372,000 accredited investors and underwrite 20% of each vertical's token holding from our end and we agreed to initiate secondary trading basing $27 per token as Launch Price.

While the HKG trip would unlock the capital for us, setting the trading platform will active all the verticals into revenue earning....
As part of Token Offering, we are thinking of issuing 3 types of offering --
(a) Straight Issuance of STOs each @ $27 base price for Rice & Gold (We are working on financials to arrive at the optimal price agreement on Real Estate SQ FT, Food Carts, Fractional Plane Seats and Whiskey.
(b) Issuance of ___% Secured Convertible Notes (covered by verticals assets) convertible in 12 Months time
(c) Issuance of ____% Secured Convertible Note (covered by vertical assets) redeemable in 9 Months time

I will put further updates on my travel late around 2-3 am California Time,

Sincerely,
Laxmi Prasad

Dear Laxmi, are "we" in Hong Kong? This is the week the December/April milestones are reached?

I agree with the views posted by karlacom3 and aandt.