Interups Inc (CE) (ITUP) Share Price

In regards to Laxmi Prasad's latest email to shareholders, I want to make it very clear that

1) I had his permission to post the updates
2) None of it was of a sensitive nature
3) He simply talks nonsense most of the time.

I keep telling him. This message board is none of his business. He shouldn't even be reading it.

Anyway, he said he expects the wire in the next 3 hours, from India. I'm not even sure if we should pay attention to anything he says anymore.

If true, it's beyond silly. It's actually quite disturbing.
K

Laxmi doesn''t like it when you ask for updates on here.
And I don't think he likes me posting either.
He is delaying updates by 24 hours as a protest.
We have heard this nonsense before, right? Silly stuff.

I think he is expecting the wire today though.
So there you go.

Not that I am optimistic in general. Just saying.

Banks are opening in India. So perhaps today is the day.

Laxmi says he will answer questions when I turn respectful.
But I don't intend to be respectful
He says he will update himself.

I'm trying to get answers now. So far no luck.

Always expect more delays though, with this company. As a general rule. And you can't miss.

As Monday ends, is there positive news? If not, what's the Hong Kong implication?
K

1) $500K -- Everything is clear from our end -- remitter bank has asked for the remitting party's accountant's certification that the subject remittance satisfies the 400% Net worth as per their immediately preceding quarter's financial period ending which is as of Sep 30, 2024. Saturday morning India hours, Auditors are submitting this to their bank and that should complete the formalities. And Monday they should wire this $500,000.

Ahhh. Read it....
Thanks for sharing.
K

You have a pretty good idea about the compensation, from the Q&A that I posted.

As for the future dividends, we are still targeting $0.10 per month per SIRI based on 300M SIRI outstanding.

They first have to free up the money in Hong Kong, right.

Did this happen?
Respectfully,
K

Tue 12/24/2024 3:17 PM
I will email tomorrow on Cash Grants & Staff Compensation -- Wishing everyone Merry Christmas again and a great new year ahead!

Sincerely,

Laxmi Prasad, BS (Acct)., ACA (India)., CPA (USA)
Chairman & Chief Visionary Architect
Cow Group of Companies
Redwood City, CA 94063 [USA]

.......

But it does not mean our business is like the links the site is presenting. We are actively operative and the team is burning its sweat to see success for this company to build a story that we can carry and establish legacy.

Your very first post.

Dear All,
I am taking this commitment to pay the $0.15 Dividends through the 4 verticals (we will try bettering it to $0.25 but for the year 2023 ending Dec 2023 let us assume $0.15). And anything over it adds as testaments to our stamina!!!!

Laxmi Prasad

Ofcourse that never happened, because you were busy moving money out of the company.

What a wonderful update. Truly impressive. Though I couldn’t help but notice there’s not a single mention of going over there to release that $102.09 million. Securing a date to meet with the banks is one thing, but are you going there to get business done or just to sip tea?

Brief Q&A with Laxmi

Why haven't you received the $500k yet?
And why are you not on a plane to Hong Kong?

1) $500K -- Everything is clear from our end -- remitter bank has asked for the remitting party's accountant's certification that the subject remittance satisfies the 400% Net worth as per their immediately preceding quarter's financial period ending which is as of Sep 30, 2024. Saturday morning India hours, Auditors are submitting this to their bank and that should complete the formalities. And Monday they should wire this $500,000.

FEMA act was unclear of this, it said, preceding period net worth and following that they submitted March 31, 2024 Networth certification. However, the Bank asked for Sep 30, 2024 certification and Saturday morning hours India time bank should have this document for pushing the wire on Monday First hours.

2) I am waiting for two things to go to go Hong Kong --
(a) Receipt of this money as it will help us pay 1 month of compensation and I can focus my 2 weeks in HKG peacefully
(b) I am waiting for our custom mint gold samples to be finalized as this will help us a lot when in HKG -- The bar samples got finalized -- Only two small works are pending -- Numbering and Custom Packing. WE should have it in the next 2-3 days while I am waiting for $500,000 to remit. I have asked my friend, who is overseeing metal refining, to pick 1g, 2g, 5g, 10g samples and come to Hong Kong.

(c) HSBC gave us time on Jan 2, 2025; 1st to 14th I am planning to be in Hong Kong.
(d) Once we have the samples custom minted, numbered, packed and certified, we will ask the refiner to ship to the Vijaywada State Bank Lockers (this is physicians gold in 108 kilos -> 30,000 x 1g bars + 9,000 x 2g bars + 3,600 x 5g bars + 4,200 x 10g bars) for trading 108 kilos every 3-5 days. This answers one question -> Until this minting happens, we cannot draw out the profit margin especially gold pricing fluctuates every minute. Otherwise we have 11.25 to 13.5 cents margin per dollar in the 11.25 million invested by the Physicians. People speak so immaturely which burns me to react... We can touch physician money without first pulling the metal into work. Even now Kautilya is arguing that we will have to open a price fluctuation reserve account and keep 10% over cost to fill any price adjustment between the time we buy and we pull it to the inventory racks.
(e) We could have easily filled in the inventory with Pamp or valcambi and the banks would distribute these bars as we deliver but once we send Valcambi / Pamp bars, if we deliver our custom mint bars customers will think that we are diluting the quality even if our bars are from the same refineries but white labelled. This is hence our wait to have custom mint bars.

Taking samples to HKG and Singapore will help us add HKG and Singapore as our markets -- There is one lady Kumi who is ready to invest 4.5 million and Khoo from singapore who is the second largest palm oil trader is ready to setup distribution network in Singapore, Malaysia and Indonesia as he has Palm oil branches and dealer network across the 3 countries.

I will be there in HKG on the 1st which means I will be flying on the 30th along with Venkat. Murthy will join me on the 5th night with gold samples.

Waking up to no sun. Allways nice start.

I have complained about it many times, internally, about Laxmi responding to IHUB posts and sending a copy to the entire shareholder base. I think it is very damaging. And he agreed and said he would not do it again but he is still doing it. And now he is really crossing the line by telling us not to discuss certain things on IHUB. What else is a person supposed to do but object fiercely to this?

Yep. Sadly, one for the annals of Ripey's Believe It Or Not. Unfortunately, not fitting for the Harvard Business Review.

Perplexed because effective communication is not difficult to realize,
K

RD what's wrong with you. When you can simply communicate through email then why hub?

It seems like he is blackmailing you now, in his latest email. Not sure what else you would call it.

I agree with you. I'm not sure where shareholder confidence ranks, but the reality is surely not what it should or could be. Hopefully things course correct, as I hope for great things to transpire.

Note: Shareholder confidence is often a valuable KPI.

This brings to mind an exchange from July 2024. There are words, and there are deeds. Words don't build $B companies, but they do serve to provide affirmation of the deeds that build $B companies.
K

My reply to the company aspiration:


The company aspiration:

We could easily lose the partners in Nigeria if Laxmi keeps sending these crappy emails. They are also on his email list. They will not understand WHAT THE HELL IS GOING ON HERE.

We have to end this HERE, and NOW. How can anyone disagree with this?

He is definitely quiet now.

Keep digging that hole for yourself, Laxmi. I have warned you many times. But you don't listen.

This is outrageous when you think about it. He tells me he will keep sending emails to all the shareholders as long as I (or we) keep posting on here. But he also tells us he will not be giving us any updates. So basically he is saying, he will only send rubbish to his shareholders.

He is not responding to my emails now.
I'm just getting started.

Laxmi, stop sending crappy emails to the entire shareholder base.

Laxmi is still digging that hole for himself. Deeper and deeper...

Likhitha.... tell your father to STOP sending crappy emails to the ENTIRE SHAREHOLDER BASE !!!

YES. I am doing this publicly now.

Laxmi is going to give himself a heart attack, before he is able to travel to Hong Kong, if you ask me.
And then Likhitha can deal with that.

I can't help you with that. No doubt there will be a selective update coming from Laxmi soon, even though he said he wouldn't give updates anymore.

We are custom branding gold, which is not possible unless we are ready to place at least 1/2 ton of gold...Against all odds, today we received final sample delivery of 1g, 2g, 5g and 10g bars, thanks to one gentleman who is my partner and friend from Vijayawada. We owe him too but he is working in the interest and longtime wellbeing of the company.

20 minutes ago he said he wouldn't give updates if we continue to post on IHUB. And now he is giving a selective update.

The communication from the company has turned into a COMPLETE JOKE. And I have complained about it many times, to Likhitha, to the BOD. But so far they refuse to act. I don't know what else to do.

The Hong Kong item is the most curious. There's been talk of $100M sitting in Hong Kong for nearly a year, defying all logic as that money cures all ills.

K

Laxmi is now asking you to stop posting on IHUB.... lol.
I have a full time job discussing this with him but he still doesn't get it.

I don't know if they have purchased the gold. It is not important. Even if we lose the sale (worst case) I don't think it is a problem. The EB5 sales probably give us a better yield anyhow. They just did the physician's sale to get some cash flow going (?). The sales through the banks are also more important.

And about the HK account, we will see. Shouldn't be a problem. But there are never any guarantees, right. Perhaps they will encounter some problems there as well. Who can predict all this? That is why it is important to get some sales and cash flow going in the US as well. And that is looking pretty good now.

I have no idea tbh. I don't get the deal with HK, as what they've written so far is that they need to go there in person to "open the account", no? Which as you point out is very weird if that is the case.

I don't care much for being right about these things. I just care for it to be resolved. If they already bought the gold, then great. If they need to HK money to do so, then I hope they'll get on the plane soon and get it moving.

No, of course it will be awesome once the operation is up and running. No one will complain once we start seeing results.

I don't know MM. Is it locked? How can they transfer money to HK unless that account belongs to the company? Perhaps they just can't transfer it into the US, same issue as they have from India.

I think they also have an account in Singapore? And one or more in India? Why couldn't they purchase the gold from there? They do it all the time.

But perhaps you are right and they haven't purchased the gold yet. So what? Nobody is going to run away due to some delays if they can purchase the stablecoins for $1.00 and get a free ride rotating SIRI, right?

Perhaps they already did
How could they, if the money is locked in HK until they fly there to fill out the paperwork?

Ofcourse you are not EAG. You will need those lawyers after January 1st.

I am not talking to you, remember? So why even try? You can bang your head against a brick wall and it still won't help....

Why get on a plane when there is no money in HK? If there where money in HK he could have bought a ticket and wouldn't be sleeping on L's ( not any of his daughters) couch.

Yes. They should get on that friggin plane and stop responding to IHUB posts with excuses.
I think they have several weeks to purchase the gold. Perhaps they already did, I don't know. But they may very well screw that one up as well.

Another thing that does not add up.

That is some next level HS! The money was sent to Hong Kong? Really? And you actually believe that? The stories just keep getting more and more elaborate.

Do yourselves a favor. Take all of Laxmi's stories from the past year just extract the parts on the money, dates, and locations. Put it all into a spreadsheet, and you'll quickly see that his stories don't add up.

Oh, that is disappointing, but it should also make it a much more pressing matter then. Since there's an obligation to put the gold on the vault within X days from the sale.

Tbh, I don't read those.

I don't think anyone does

That is the one that is bugging me the most.

I understand. I asked about this. That money is sitting in HK as well. They didn't want to transfer so much money to the BofA account because that account is giving them headaches (which is also why they moved to Citi).

Another delay yes?

Finally someone else asking the right questions. You will never get an answer though. Also not on that $2.59 million.