MrSteven
11 hours ago
This is exactly what I am worried about. Laxmi Prasad's communications seem to follow a pattern of hypothetical scenarios, where he drops subtle hints about upcoming events that appear to be pre-planned. Over the past few months, I have been hearing about this issue with Hong Kong (HK). According to Laxmi, he was supposed to travel to Hong Kong to recover an amount of money that was "stuck" there, but this sum never made its way back to the United States. What concerns me is that there has been no concrete evidence or relevance to his ongoing discussions. It all feels like a set-up.
Laxmi has been hinting that if Citi Bank fails to fulfill certain obligations as per his instructions, it would be indicative of a much bigger failure. This suggests that Citi Bank will fail to meet these directives, which raises two possibilities: either Citi Bank was never actually involved in the transaction to begin with, or, more concerning, no reputable bank is willing to associate with Laxmi Prasad due to his past and present history. Given these circumstances, Laxmi is now attempting to convince people that he plans to shift all of his banking operations to Hong Kong, which adds another layer of suspicion.
Furthermore, Laxmi has claimed that he acquired Mercantile Bank, a financial institution based in Puerto Rico. However, there has been absolutely no news or official confirmation regarding such an acquisition. Despite this supposed acquisition, Laxmi continues to face numerous unresolved banking issues. This raises further doubts about the legitimacy of the claim and the stability of his financial operations.
I also have critical information from the board of Mercantile Bank regarding this situation, but I have chosen to withhold it for now. I intend to release it when the situation takes a turn for the worse, possibly by January, as it seems that things could become much more complicated soon.
LVerstee
11 hours ago
We all received an email from Laxmi on what to expect. I took out the fluff and created a breakdown of all the amounts mentioned (some double) in his message making for easier reading.
Labeled as either "firm in hand" (confirmed, accessible funds) or "hypothetical" (estimated, expected, or contingent funds) these are all amounts mentioned some of which appear multiple times with different reasoning by Laxmi.
Hypothetical Amounts
$2.59 million – Expected to be available after a regulatory cooling period.
$9 million ($8.77 precisely) – Needed to pay cash grants.
$1.35 million – Needed to pay 50% of U.S. obligations.
$150,000 – Needed for payment to Indian staff.
$12 million – Totsl needed for the first monthly commitment.
$22.50 million – Total required for various commitments.
$10.5 million – Total amount aimed to have "on hand" for operation.
$1.5 million – Expected additional amount, hoped to be obtained by Thursday or Friday.
$4.5 million – Investment amount expected from the Hong Kong-based investor.
$10.5 million – Total amount mentioned to "fix the puzzle."
Firm in Hand Amounts
NO amounts are currently fully confirmed or "firm in hand."
Realizable (but not yet in hand) Amounts
$1.96 million – Expected surplus from sales, which is considered "realizable" but has not yet been fully secured or received.
At present, there are NO firm amounts on hand. The $1.96 million in realizable sales surplus is expected but not confirmed. All other amounts are hypothetical or contingent on approvals, investor commitments, or successful transfers. Notably, there is NO mention of $150 million being in Hong Kong or a specific Hong Kong account.
Short version?
It's highly unlikely we’ll see payments this week. There’s no firm cash on hand, and while some funds are expected according to leadership, they're not finalized.
Very first question that came to mind. Why move $2.59 million that you have here to HK where you have issues with the $150 million of which now there is not any mention?
karlacorn3
1 day ago
Frustrating: Within the hundreds of posts there are updates that frequently come with a caveat, which over time becomes perceived as escape clauses. While I assume earnest work is being done, we should focus on receiving some absolutes relative to pending deliverables. Despite all the slips and slides of the past 11 months, we should set aside the noise become perfectly binary now.
At this point we've become inundated with multiple "qualified" issues and concerns from the shareholders, and "unforeseen variables beyond our control" from the business. We're approaching 12 months of perpetually discovering new variables that repeatedly invalidate previous absolutes.
While acknowledging all the past clarifying communications, is it possible to have a perfectly precise binary statement? ...absolute, simple, accurate, straight to the point, no multi-year projections or forecasts, no diatribes or extraneous commentary ... binary. This is to provide a focused first step (realized milestone(s)) towards positivity for the masses.
Submitted with all due respect,
K
PS. This should include a SIMPLE token value note, for each vertical
MrSteven
1 day ago
Dear Anubha, thanks for being the "eye and ear" for Laxmi Prasad. There’s no doubt that he has a unique writing style that no one else can quite replicate. His sense of humor is also something special—if he were to apply it more strategically in business, he could unlock a lot of potential, as RD has pointed out.
However, there’s a darker side to Laxmi Prasad's current situation. Unfortunately, he seems to be caught up in using his intellect to deceive and manipulate all the stakeholders around him. While his humor might be engaging, his actions in the business world have become increasingly questionable, and it seems he's prioritizing his personal gain at the expense of others.
Now, with his advancing age, he is looking to hand over the reins to his daughter, Likhitha, presumably because he feels he can no longer manage things on his own. This is where things get concerning. As you probably know, Likhitha is the daughter of a defaulter who is entangled in multiple legal cases. His financial and legal troubles are no small matter, and if Likhitha were to take over, she would inherit not just the business, but all the associated complications. Given her father’s history, navigating this path could be incredibly difficult for her.
I truly hope Likhitha doesn’t end up in major trouble because of the "gift" her father is trying to pass on to her. The burden of his actions could be too much for her to bear, and it might be a long and painful journey for her if she decides to step in. I'm concerned for her well-being and future, as it seems like she might be walking into a storm without fully understanding the extent of the challenges ahead.
Anubha
1 day ago
Dear Hub Readers,
From MyCow Group, we would like to voice and alert our valid concerns that a Professional Subject like Stablecoin pricing, pricing of tokens and the valuation effects of these prices, the collateralization of metal against each of these stablecoins, the trade cycles, the margins and recoupment of these margins for sourcing gold back into the trading system. -- These are discerningly forecasted considering the market prevalent dynamics, including commission payouts, admin expenses and the net margins assumed as our expected net earnings after provisioning for taxes.
These financial estimates were thoroughly screened by many banking groups across the world and the pricing of stable coins and the quantity of metal that we peg to cover against each stablecoin we offer is carefully input considering the upcoming stablecoin regulations turning effective as of January 2025, and every element of these financial forecasts are extremely reviewed multiple times and they resonate directly with the pricing fluctuations that the metal is subject to.
The performance of the metal in retailing and the profit share we have with stablecoin investors determines the price of each token offered within the vertical as shareholder's token. And we have given this forecast assuming daily cycles, once in 2 days, once in 3 days, once in 5 days, weekly, 9 days, 10 days, 12 days and every fortnight. and these tables were circulated to the token holders, these tables form part of disclosure documents as part of our offering document and all these documents are thoroughly vetted by top securities law firms of the United States and India.
We like someone debating on these subjects as this is our confidence win and it will let the world know about us and why expect our stablecoins to become an important economic exchange mechanism in lieu of currencies itself.
I request, without gaining full understanding on the subject matter, any assumptive writings or discussions will be deemed misinforming the readers and you or anyone writing these comments would be assumed to be circulating information threads grossly misinforming the public and the readership...
I deeply appreciate any subjective criticism, and we are quite open for a professional debate with anyone that you would like to appoint from any globally leading broker firm, stablecoin experts, Financial Analysts of any large Private Equity or Hedge Firms. And we are open for adjusting our forecasts that they would suggest.
From our end, we are quite open for any of this discussion -- I just request, until then, let this subject be not discussed though we are quite open to walk through every element that we adopted in drawing these financial estimates.
This message is to everyone who is writing on this subject with no clue or knowledge of the subject and the background of it.
We are open for debate any day anytime and we will definitely respond to any material questions anyone may have professionally -- we look forward to the critic’s debate / questions through email at IR@mycow.io on this subject of high importance as it once and for all helps everyone thoroughly understand these numbers in meticulous in depth. And we will respond to these questions well, placing them to everyone’s attention.
We also would like to confirm under oath and we volunteer to declare before any Financial Markets Authorities or Securities Exchange Commissions across the Globe that we have not compromised any financial economics in presenting these forecasts and valuations. We have presented reasonable disclaimers and disclosures as the underlying commodities associated with each stablecoin whether MyGold, BlackGold (Crude), Plane Seat (fractional Plane Seat), and Liquid Gold (whiskey) are all subject to market conditions, respective commodities’ performance across multiple markets, the country level economic factors, global geo-political situations and other factors that are outside of our control.
Unless discussed materially and professionally, discussing this subject in vague and assumptions that do not call for merit.
We deeply appreciate everyone’s understanding and merit and their subject discussion without materially understanding the in-depth dynamics of it will be assumed to be misinforming the public that too taking online hubs as a platform.
Very respectfully,
My Cow Group
MrSteven
1 day ago
RD you have lot to explain, information shared by you is true to my knowledge but we both have different prospects, opinion and experience to share here. I have nothing personal against anyone but I am just presenting the facts everyone should understand in better terms which cannot be ignored.
Everyone please go through my message it's very loud and clear.
Laxmi Prasad, the individual who created and managed this token ecosystem, controlled the price of these tokens at all stages. The tokens themselves were never truly valuable in the real world. They were created as a tool to use your investments and dividends to fund the business operations without delivering any tangible returns to you.
Throughout this entire process, Laxmi was able to use the money and investments from stakeholders without giving back any meaningful returns. He was in control of the token price and was the only one who had the power to influence its value. This allowed him to manipulate the market to his advantage, ensuring that when the tokens were finally supposed to be sold, their value was almost nonexistent.
On the other hand, investors, employees, and all those who were promised dividends or wages in the form of tokens ended up with massive losses. What was initially seen as a valuable asset turned into a worthless commodity due to the manipulation of its price.
In conclusion, while the system appeared to be beneficial and offered exciting promises, the truth is that Laxmi Prasad used your investments for his own gain, fluctuated token prices at will, and ensured that when it was time for everyone to cash out, they were left with nothing.
This is a classic case of market manipulation where the people who controlled the system (in this case, Laxmi Prasad) were the only ones to benefit, while everyone else incurred significant losses.
Vika1
1 day ago
Yes, read about the MMM pyramid. If I'm not mistaken, it was in the 90s. The founder issued his vouchers (in this case, tokens) and sold them to the public and set the price himself. When people sold, he bought them back at a discount. Those who held it promised a big income and ordered not to sell. But at one point, when the crowd went to sell vouchers, they did not buy them and people were left with nothing! Study the history and patterns of the pyramids to avoid becoming a victim yourself!
RealDutch
1 day ago
Most of what you are saying is BS, MrSteven. No offence. But you are making assumptions without knowing the truth.
Let's focus on the gold tokens, because that is where the focus is on, for now.
It is true, SIRI was initially valued at something like $25.
However, European regulations dictate that at least 40% should be covered by hard assets (physical gold in our case)
The banking group (our partners) wanted even more stringent requirements at > 60%
So then the "price" was automatically adjusted to $3.60. By the banks. They are selling our tokens to the public.
However, our SIRI (equity tokens) are different from the public tokens.
The public SIRI tokens are covered by 60% gold. Our SIRI equity tokens are not.
So if we sell them back to the company, and the company then sells them to clients, they have to buy a lot of gold.
Which is why the price became $1.80 instead of $3.60. Otherwise they don't have the money to buy gold.
So you are starting to get a sense that price...... doesn't necessarily equal value.
Then came the stablecoins. MyGold stablecoins.
1 stablecoin = 1/2 SIRI + 50% physical gold.
The price of a stablecoin is... always... $1.00
The whole thing is covered by physical assets basically. That is why they are called STABLEcoins.
They don't lose their value. And if the value drops, we will simply add more gold.
But as we trade them, we will make a profit, and we will actually have a surplus of gold.
That's where the profits are coming from.
The faster we cycle sales, the bigger the profits.
Right now, the "value" of SIRI is $1.00 (I think),. But that's for tax purposes.
I don't know what you get for them if you sell them back to the company. I assume $1.00, for the time being.
Fair value otoh, could be much much higher. Up to $500.
It depends on how fast we can cycle sales and how succesful we are.
As such, I would never sell them back to the company for $1.00 personally.
There is a very good chance that fair value will be much higher.
Simply collect the dividends on these. $0.10 per month.
That will go up substantially as well in the coming year. Again, depending on the success rate.
We will have a pretty good idea about fair value (true value) in about 6-9 months from now.
As for the other tokens, I am not sure.
They have many more stablecoins planned.
So perhaps we will see something similar develop for the other tokens like AERO and RISO etc.
MrSteven
1 day ago
Here’s the unfortunate truth: Laxmi Prasad, the individual who created and managed this token ecosystem, controlled the price of these tokens at all stages. The tokens themselves were never truly valuable in the real world. They were created as a tool to use your investments and dividends to fund the business operations without delivering any tangible returns to you.
Throughout this entire process, Laxmi was able to use the money and investments from stakeholders without giving back any meaningful returns. He was in control of the token price and was the only one who had the power to influence its value. This allowed him to manipulate the market to his advantage, ensuring that when the tokens were finally supposed to be sold, their value was almost nonexistent.
On the other hand, investors, employees, and all those who were promised dividends or wages in the form of tokens ended up with massive losses. What was initially seen as a valuable asset turned into a worthless commodity due to the manipulation of its price.
In conclusion, while the system appeared to be beneficial and offered exciting promises, the truth is that Laxmi Prasad used your investments for his own gain, fluctuated token prices at will, and ensured that when it was time for everyone to cash out, they were left with nothing.
This is a classic case of market manipulation where the people who controlled the system (in this case, Laxmi Prasad) were the only ones to benefit, while everyone else incurred significant losses.
MrSteven
1 day ago
It has come to my attention that there have been several concerns and questions regarding the fluctuating token prices and the way payouts were handled. I believe it is important to clarify these matters to ensure everyone fully understands what has transpired over the past few months.
When the token system was introduced, the initial value of each token was set at $20, with promises that these tokens would later be used for various purposes such as dividends and wages. Over time, the price of these tokens fluctuated significantly, first being revised down to $3, then back up to $25, and so on. In essence, the price was adjusted based on decisions made by Laxmi Prasad, the entity managing the token economy.
At the outset, many were excited by the potential of these tokens. The promise of future value and the idea that tokens would rise in price gave everyone hope. Stakeholders were also told that once the tokens were allotted, there would be an obligatory holding period of couple of months, after which they would be free to sell them on the open market.
However, the true nature of the token system was different from what many initially believed.
As per the terms and conditions set by Laxmi Prasad, everyone will be required to hold on to their tokens for next couple of months. During this period, the expectation is that token prices would rise, giving everyone a chance to profit. But when the 6-month mark will come around, the market price of the tokens will dropped drastically, to as low as 0.002% or 1% of the originally projected value.
This sudden and dramatic drop in price will lead to massive losses for all parties involved, including investors, employees, and stakeholders. Essentially, the tokens, which were once valued at $20 or more, were now worth fractions of a penny.
Vika1
2 days ago
There are 400 shares on this account. They do not display the average price. But they were purchased for about $9.00. I don't need your handouts. And I am not going to disclose my financial situation, accounts or share any information at all. I made this clear last year. If you want to make a bet with me, since there are not as many people willing as we would like. But you are a person who does not inspire confidence in me and your words are empty space for me. Let's do this. My $3800 will stay with you. If you do not pay the promised grants by the end of 2026 (namely grants to the holders of the initial verticals, as you promised. I give you a reserve of 2 years, since this year you will not transfer a cent, believe me), then send me 3800 +10% ( bet 1 to 10). I will send you an invoice at the end of 2026. If I was wrong (the probability is less than 1%, and no offense), then you will take 3800 for yourself. About tokens. I don’t have them and, as I repeated, I didn’t apply for them and didn’t intend to, you’re not the right person to waste time on you. In contrast to the fact that you spend so much time and energy proving that everyone around you is a liar and a villain. Or we could use this energy and time to pay off our debts. Once again, I am not an interested person and I am expressing my point of view based on the data that I have. I have been following ITUP all these years. I have seen many companies on OTC promising mountains of gold, but which are now worth 0. You are no exception. All the 8K forms that were submitted, none of this came to fruition and all the words and promises are empty! Therefore, I and other people have already formed the opinion that you are not a competent person and do not keep your word. And we don’t respect people like that! I voiced my proposal here. If you agree, you can answer YES and we will meet on this board at the end of 2026. If not, then NO. Then I will leave you with your problems completely. BUT I will remind you at the end of 2026. I simply don’t have time to correspond with people who are not responsible for their words.
RealDutch
2 days ago
Vika, I have been a shareholder here for 4 years. I have worked closely with Laxmi for 2 years. And my title was Chief of Acquisitions and Market Capitalization.
"Market capitalization shows how much a company is worth as determined by the total market value of all outstanding shares"
I would say that gives me a pretty good idea about the value of the tokens and the company as a whole....
I told this one guy from Russia it is a bloody shame if he qualifies for tokens @ $0.01 and he doesn't buy them. And yes, I would advise anyone to take on a loan and purchase those tokens. Because $0.01 is practically a gift. We have accounts with the tokens of 7 verticals in them. I think all of them are worth $1.00 for tax purposes at the moment.
Now, you are going to argue with me about value? With me? Anyone? $1.00 doesn't even begin to reflect expected or fair value. The SIRI (gold) tokens alone could be worth up to $500 a piece, if, we are succesful with retail sales. But the company has been trading gold for 20 years or so, so I would say we have a pretty good chance. Why $500? Because around that price the gold market will get saturated as the size of the market is limited for us (to roughly 2,500 kg / day). Although we may still be able to double that.
You want agreements? Well, the people who purchased tokens through IREEM/CCAC did in fact sign an agreement. And others also qualified through their ITUP shares.
And we have more than just SIRI (gold) tokens. 8 verticals are active now, and have been issued. And we will have close to 50 verticals in 3-5 years time. The total value of all of that combined will be astronomical. Which is why Laxmi mentioned a $1 trillion opportunity. Personally, I am a bit more conservative and I am targeting $300 billion value for MyCow in 3 years time.
Great things are about to happen here for the shareholders. We even have RAS aquaculture (remember SIAF?). We have eBuses. We have airplanes, whiskey and much more. And yes, I would advise anyone to load up tokens in any of those verticals if they can get them for $0.01. We will have monthly cash dividends as well.
Vika1
2 days ago
I can’t say anything good about RD, but I can’t say much bad either. But this person seemed to advise taking out a bank loan to purchase tokens. If I'm not mistaken, in December 2023. What would happen now to the person who took out the loan? He would owe the bank and wait for promises from Lakshmi and so on year after year! RD, are you saying something about taxes? What taxes? The tokens are not traded, they are not even officially recognized, do you have a purchase agreement for these tokens? Does anyone have a purchase agreement?
Vika1
2 days ago
Oh, how interesting it is here). I wrote back in December or November 2023 that I have ITUP shares, but I will not invest anything in tokens and will not buy them, even at the paltry price of 1 cent. Because I asked the question to myself. If a person is ready to help his shareholders and pay them grants, then distribute these tokens for free, and withhold % of the payment from the first grant. But Lakshmi or whatever his name is, is poor, he collected several hundred dollars from you and Snow seems to have paid the most. With these funds, Lakshmi buys herself cheap food in order to somehow survive and deceive other people. Instead of spending time developing the company, he sends his investors a bunch of letters with excuses and diarrhea from his mouth! I have seen many directors, but this one surpassed them all). I haven’t seen such a cunt and a liar for a long time. I don’t associate with losers (I held an IPO for my brother, but the company died), with debtors (on the Internet you can find people to whom he owed money 10 or more years ago and still owes a measly couple of thousand, funny!) and liars (who they lead people around their little fingers and feed them childish promises every day and constantly find the reasons for their problems). Briefly speaking. What can I say, spread the word about him on all resources, about his actions, let people be careful with him! Stop wasting your time on him! I left ITUP - $3800, but I went further and during this time I earned the amount of 6 figures. Losers and fucking scammers are unhappy and sick people, their karma is dirty, don’t get dirty about them! Good luck everyone!
RealDutch
3 days ago
Yes, but you have no role in this. First, you pretended that you represened one D. Murray which turned out not to be the case. Not at all. Then you even suggested to Laxmi that you were representing me and my interests, which of course was never the case. And now you are supposedly acting on behalf of some people in India.
The reality is, you have been wrong so often about so many things, I doubt you play a role in any of this. It is all pretence and no substance.
The people who are usually involved in lawsuits keep quiet. Their lawyers demand it. They don't talk all the time like you do. And that is more evidence that you are not involved in any way. You are bluffing and it is very obvious. You should be careful though, because that doesn't mean there will be no consequences for you.
LVerstee
3 days ago
Two groups have already moved taking legal action, and I have no control over that. November 1st was the final deadline, and Laxmi failed to meet it. After months of asking them to wait, I couldn't keep asking them to anymore.
You mention a repayment plan, but where is it? There’s no concrete basis, only vague promises and missed deadlines. I’m offended by the accusation that I’m burning things down when it’s Laxmi who’s been lying and defrauding people. There’s nothing left to burn. There is NO money.
Where is the proof of the sale to those physicians for instance? Or the transfer into the HK account? Or the 2.59 million.
Laxmi has failed to prove anything, and instead blames banks for all the problems. He has multiple lawsuits against him with hard documented evidence against him, yet calls anyone who sues him a criminal. He always deflects blame onto others, even when we ask legitimate questions.
The problem is that we all fell victim to this pathological liar. I’ve reached the point where I no longer feel sorry for him. The moment he started abusing me with his language was the breaking point for me.
I once offered him a helping hand to get out of this mess. Helping him would have helped all of us. But he trampled on my misguided renewed trust in him.
It’s too late now. He’ll have to face the consequences of his actions. I’ve delayed this longer than I should have, but all we’ve seen are lies.
aandt
3 days ago
I know it doesn't really matter what I think, and you will do what you will do. But I will voice my concern anyway.
If you are truly waiting for repayment, why not wait out the ongoing process like the rest of us?
Sure there are legitimate questions. Many failures, etc. Yes everyone is frustrated.
But yet so far there remains a proposed plan for payment. Delayed, but it remains on the table. I realize you are convinced nothing is coming.
Please consider that burning everything to the ground impacts many good people who are just waiting for things to turn for the better. There are some in very dire situations that are waiting for recovery.
If there comes a time when payment truly has been withdrawn, then perhaps it might be time to consider options. But IMHO that time has not yet arrived.
RealDutch
3 days ago
Not sure what you are referring to, Sparty.
Wrt my posts on here, some people have been criticizing me. And the public has a right to know the truth. So that is why I am responding. But it won't last. I have given you enough of my time.
As for me working for free, sure. I own 2.2M gold tokens and >1.2M tokens of all the rest. I will get close to $220,000 in monthly dividends alone. And that could easily go up 5-fold in a years time. So no, I don't have to work for the money anymore. I don't care about the money. It is totally irrelevant compared to the dividends I will receive. I have done some work for free. But that will end too. And has already ended. Now I am just a shareholder like most people here.
LVerstee
3 days ago
You are mistaken, Laxmi. For the law to come down on me, I would have to have broken it.
All I’ve done is ask legitimate questions after repeatedly being misled, essentially lied to by you time and again. In your eyes everyone who questions you is a criminal. Warped mind you have.
In contrast, over the past two years, you have committed several documented offenses. You’ve demonstrated a continuous pattern of prosecutable action, a never-ending trail of lies, deception, and fraudulent conduct.
Questioning you about your own written words is not a crime. Ask your lawyers I mean your daughter Lekha.
RealDutch
3 days ago
And your partner in all this RD
Partner? Sorry, I was wrong. Your previous post wasn't the joke of the week. Because this one is.
Everyone knows Laxmi and I fight all the time. It's hilarious.
WHAT planet do you live on?
Not only for the mess he created here but also for the SIAF mess.
You have NO idea. Did you know that I had close to 30% of the shareholder votes for a position on the Board of Directors? I even did 2 interviews. Unfortunately, the Chairman, CEO, CFO, and also majority shareholder (a very bad combination) was a tyrant and never wanted me on the Board, next to him. But the shareholders certainly did. Because they believed I could fix things. NOT because I created the mess.
Seriously dude.... you can't be more wrong. You simply can't be more off the mark. Because you know nothing.