Member Info for chris137

https://play.google.com/store/apps/details?id=com.tally.android

Frank Woodcock, 73 year old?

Don't see any link, myself. Perfectly okay for someone to open a company using any name as long as it is not registered in the same country.

I'm assuming ARC shares will be sold at the end of this month, after their AGM. The funds from that will run PREM on a skeleton crew until NewCo is up and running.

I'm not entirely sure what is proposed for the other non-Zim assets, they may stay in PREM along with Circum but that hasn't been disclosed, as yet.

Everything bar Circum goes to NewCo.

No timeframe for company formation was given but he said RHA should be producing revenue within 3-4 months.

Chippy, we'll have to wait and see what options are presented to us.

RHA is the start, then the 25 days DD. From there we will have a full set of information to make informed choices on.

My view is that the current value is actually being held back by GR being in place. Without him, the assets would get a fairer value under NewCo.

Based on what we currently know, I think NewCo is a good deal. It signals the end of PREM being explorers and the start of us being Producers.

He did, slightly early on so maybe you missed it.

GR won't be running NewCo. KME will provide the CEO and management.

3 board members will be from PREM, we get to vote on who they are.

GR will be non-exec, if at all and his words that we could vote to send him fishing, ie retirement.

Voting for NewCo is, in effective, voting for a new company without GR running the show.

Chippy, did you not see the webinar where GR stated he would only be involved with NewCo in a Non-Executive way, if at all. The shareholders get to vote on who the board is.

Nothing posted on here is going to change anything. I'm comfortable with my holding, I have nothing to add until we know the ins and outs of the deal. We'll find out about RHA this week (personally think it will be finalised in a positive manner).

May as well get on with our jobs until then rather than bickering with strangers about things that aren't really anything to do with the company.

It's all getting a bit silly here again. It's pointless, it really is.

We had a couple of decent days last week...

Different company. https://tallysolutions.com/global/

Does show that Tally is a common enough term in India though. Over 1.5 million business customers.

How much of your savings would you store in Bitcoin?

Fair enough re gold ownership. I got that wrong.

I'm more au fait with the technical side of the company than the gold part.

"We'll know when we have a functioning product on its public release.

They could take it anywhere, in theory."

That's the cool thing about apps. It allows new features to be rolled out instantly and also some trial and error.

Whatever we start with, won't be set in stone and it will grow over time. It may not always be perfect but with enough feedback from customers, it'll get there.

"chris137, the gold is not held by a bank but in secure insured vaults and therefore the £85,000 limit is not applicable."

It will have to be covered. If the company goes bust, creditors will take the gold leaving customers with no money.

No, it doesn't have to have any link whatsoever to a crypto.

Tally Money has about as much in common with a potato as it does with a crypto.

The crypto market is dead, it's nonsense backed by nothing. We really do not want any link to it.

Customers do not even need to know or care about blockchain. Most people do not know what blockchain actually is and think it only applies to cryptos. That is not the case.

Anyone with any sense won't have more than £85,000 with any one bank.

How many people actually have that amount to save anyway?

85 different people with a monthly salary of £1500 passing through the account is arguably better.

Oh and one final key aspect of the Monzo card.

when I purchase anything online it sends a message to the app on my phone and i have to enter my cards PIN number to accept the transaction.

As a result, it is very difficult indeed to use the card for fraud online. You'd need my phone, PIN and fingerprint too.

If someone steals my card, when they use it I will get a notification and can block the card immediately.

These are massive advantages over traditional bank accounts. These features are arguably all more important than holding gold to the average user.

Railsbank may (I do not know this, so only a may) stem from using Ruby on Rails as the coding platform/language behind it.

Further to that, I have just opened an Anna account for my company.

Same thing (card/account/app), but for business banking. That could be an interesting space for us as business accounts tend to cost quite a bit to have. Anna is free for the first 3 years but I don't like the app so much though.

Holding business funds in gold, by default, could be an excellent way to partly recession proof a company.