Member Info for mikey9997

Big7, 'Not charging a transaction fee' is not misleading if they dont charge transaction fees. If they said "We dont charge fees" that would be misleadijg. If you read all the Tally terms and conditions and FAQ you will find that with your question about taking delivery of your gold it states "not yet". In fact what you're asking them to do is take the gold storage aspect of Tally and put it in your hands so that they are essentially working for free ("no transactional cost".) They are just not at that stage yet, but if we get bigger then it may well be possible, but you will likely have to pay a premium for it. Once you have taken ownership of your physical gold, how could they keep it on their ledgers up to date, which are audited? How would they know you haven't sold it, all of this makes the premise of the app void (at the moment). Which brings me onto your final point, the ownership of the gold. The gold is stored in one place (or a few if demand will be high) but that does not mean it is "pooled". The gold is owned in accordance with the amount of Tally that you own. Where buys and sells are similar, matching buys and sells of Tally will change the allocation of ownership. The fact that the vault is insured means that all of the gold is at much lower risk than holding all client money in a large pooled bank account which they can take interest on, which is what many banks and large businesses do. It all makes sense, no matter how much of a negative spin you put on things.

That's a good point, I would rather we get to the point where our Market Cap is measured in Tally :). I would have thought it depends on how the company holds its assets at a given point in time and also would be the market's sentiment putting value on the company (just as sentiment and confidence is what underpins all non asset backed fiat currency today.) My question to the company would be how will it hold its own revenue (and profits), will it be in Tally, or will it be GBP. I like the idea that its both, using Tally for expenditures when Gold price increases and using GBP if gold becomes bearish. This again is another security, which I think Tally Ltd will be able to use as defence against failing Fiat currency, creating another backbone for the Tally currency itself. I'll ask what Ralph Hazel thinks.

I'm inclined to agree with your outlook, thats why I think this product will be successful, its another tool of defending value in a debt bubble world of baseless fiat currency and huge wealth gaps. Anyone will eventually be able to use Tally. By the sounds of it, the cards didn't look how they wanted them to so they have asked cornercard to make some new ones. The core functionality of a debit card isn't particularly advanced so I doubt it is anything more sinister, although I appreciate its getting frustrating. Ultimately, I know its better that they get everything right first time, especially when you are releasing a banking/ currency product. Have a great bank holiday everyone.

I dont think we need to overthrow anything, IMO the centralised banking system will fail sooner or later when people start realising they have been printing money from nowhere, making it unsound. Capitalism won't fail but it certainly will be strained.

What turned you to the light Picardy? The fact we reserved our TALY ticker? lol

Picardy, why are you trying to push negative views on a delisted stock? We have an update on progress and you are still here spouting your $H!T. The real marketting will start once the product is LIVE, you know, so that people are able to go and actually download it when they hear about it! Secondly, Nothing is a given in life, we all know that, we are invested on AIM and understand the risks, we dont need pretentious phantom 10 mill share forensic accountants to tell us how to react to news when we have limited control over the situation. If you are so well off what are you doing here honestly. What are you gaining from being here?

Ofcourse they will, all of the assets of the company will need to be taken into account. Railsbank has become a very good strategic investment indeed, rapidly expanding and becoming known on the global fintech stage. Once they have established themselves, I hope they will float too, which would give us a direct valuation for the ownership we have in it.

I think they are getting close, the majority of the core functionality I was hoping for on the app is now there, on my android version atleast, buying by card is now available. Pre-IPO raise is very encouraging. A quick google of Pre-IPO funding: "A pre-IPO placement occurs when a portion of an initial public offering (IPO) is placed with private investors right before the IPO is scheduled to hit the market. Typically, private investors in a pre-IPO placement are large private equity or hedge funds that are willing to buy a large stake in the company". Means less free float and cash for the company, lets hope some big company or high net worths get involved, then the IPO will be a real treat. Although I feel we are getting very close now, a bit more patience is still required, we want this release to be right first time. A good customer experience from the outset is vital for a banking product, look at Monzo, a huge number of customers gained by word of mouth only and "golden tickets". I think "golden tickets" will be a much more relevant customer aquisition technique to us than than them! Hopefully our shares will be referred to in the same manner in the next few months and years. Enjoy your bank holiday everyone!

The problem is if someone rambles so much without going unchecked then people who don't know the finer details start beleiving it. Look at Donald Trump.

Picardy, I can safely say you have added nothing positive or constructive to anyones life on this BB. You are judgemental, self obsessed and worste of all cruel. Only a cruel person would try to downtred people who now have very little control/power over their situation, seemingly whilst gloating about sccess and privilege you claim to experience. Shame on you.

Picardy.. We delisted due to a "technicality" but we are not coming back to market as Lionsgold are we? The nature of the business have changed and this is how we will now be re-applying to AIM, therefore there will be no change to the nature of the business because it will how we will have applied. Therefore whatever "technicality" you are refering to is now completely irrelevant. Thanks

Just to sound out over the repetitive posts on here about going private. There are so many reasons that the IPO is essential for the company and not to mention the large amounts of warrants exercised during the suspension and delisting by BigMJ etc. We will need to raise funds, how on earth do you think we are going to function? Secondly, why do you keep repeating yourself? We all know your opinion now let others contribute something more constructive. Thirdly, we also all know that the the product and company oppertunity has changed since May last year. In some way this suspension and delisting has been a blessing so that they can focus on the product without the regulatory requirements of being listed. That's really what CP was trying to say. In my eyes we are getting very close to some extremely positive newsflow for the company and no-one flapping or trying to spread doubt is going to change that. Unless ofcourse, you give me some hard evidence to prove to me that we wont be launching the product in the coming weeks and then re-listing a few months after. Thanks.

https://www.finextra.com/pressarticle/76295/railsbank-opens-new-office-in-lithuania/developer

Well we do know that Railsbank have an office in Lithuania :)

It's getting tiring of hearing people saying "I'm writing this off". We are releasing a pinoneering banking app. If it was going to be easy, then someone would have done it already to the same level of functionality (they havent!). I have the app and there is a clear intention to release soon and then re-list as soon as they can after. Anything in the tech industry takes time to iron out bugs and finalise things, yes its not ideal but I have a great working app on my phone right now and still people are spreading doubt. Ask questions yes but constantly being negative about your investment doesn't help anyone. You can never please some people.

Step at a time guys, lets get the product out first, the company will need money sooner or later. We want to get a good take up, get heard and give investors and customers alike time to understand what they are potentially investing in and the potential here. The longer the company can survive post product release without further funding by coming back to market the better IMO. That would indicate to me the company is bringing some dosh in and would allow some time for marketting to do its job and filter through. Mid to end of summer will be fine by me. Excited for full release in the next couple of weeks ;)

Reply from Tallymoney
2 hours ago
Dear Carol,
We welcome all reviews but please note Trustpilot is a forum specifically about using the product. I invite you to arrange a time to visit Tally’s head office in London so that you and I can meet in person and discuss any relevant matters you wish to raise.
Cameron Parry

Go on CP, sort her out she's attempting to damage your rep and the product before it's even been released. Absolutely bat$#!T some people. What on earth.

Having just looked there, he appears to be replying to my posts in capital letters without my knowledge of them to respond (or even my knowledge of his existence.) I'm not sure how he expects to hold a debate if only he sees his posts. He sounds frustrated about the situation, fair enough but it is by no means the end of Tally, it's only the beginning. AND THATS JUST IN MY OPINION RODSON.

I'll correct myself and say its wasn't our choice to suspend, but given where we were with developing and releasing the product it would have made no sense to relist after such a suspension.

There is too many extremes here. Frustration that things are taking time understandable. I will say however that it was not the company's choice to delist in the first place, instead it was most likely lack of advice from our Nomad due to the change of direction in the companies activities IMO. Yes, IPOs are to raise funds which I think we will need given we are about to release a new product but also if you look back at previous RNS's (which make it very clear it is the intention of the company to relist) that the whole concept is based upon a publicly traded company which allows anyone to invest in the company which has created this potentially global currency, Tally. As the product is released globally, I was of the understanding that we would then be able to acquire a Mumbia stock exchange listed company initially (some sort of shell) and so on with other countries, to allow other international and particularly Indian investors to also purchase a share of the success. If Tally is to become a global currency it has to go full circle and become listed as everyone should to be able to benefit from its ultimate success. How could we monopolise a global currency with everyone knowing the profits are all going to private share holders? What government would allow that?
Please do your research and try keep a level head everyone, if you're here for the long term, think long term. Product release first :)