Member Info for Nig1954

In addition, a Delaware corporation is subject to the following taxes:
Corporate income tax. Every domestic or foreign corporation doing business in Delaware that is not specifically exempt must file a Delaware corporate income tax return and must pay a Delaware corporate income tax of 8.7% on the corporation's federal taxable income from Delaware sources, or income apportioned to Delaware. Delaware law does not require the payment of a minimum corporate income tax.
Gross receipts tax. A corporation doing business in Delaware with receipts from Delaware sources is subject to Delaware gross receipts tax at various rates (currently ranging between .0945% and 1.7468%) depending on the nature of the business conducted in Delaware.
In other words Openbox could have been formed to cater for t42_IoT Tracking Solutions expected volume business within the US if they deem it to be substantial, bearing in mind it comes at a financial cost. Alternatively, it could be used for a Joint Venture with one or more 3rd parties. I don't know the reasons behind this but i'm mindful to think there's a lot more to this than meets the eye and if the BOD believe that the US is going to generate a significant proportion of their future business then that might explain why they've chosen to go down this particular route. Just a thought!!

The most common option for an overseas company to establish a presence in the US is to incorporate a subsidiary in Delaware. The subsidiary can be a corporation or a Limited Liability Company ( LLC). A corporation offers limited liability and has centralised governance structures ). Similarly, an LLC offers limited liability and can have centralised governance structures if the members so elect. While corporations have been and still are the first choice for foreign companies establishing a business presence in Delaware, LLCs are an acceptable alternative.
Any non-US entity can become domesticated as a corporation or LLC in Delaware by filing a certificate of corporate (or LLC) domestication and a certificate of incorporation (or a certificate of formation, as applicable), with the Secretary of State of Delaware . It is also necessary to obtain a State of Delaware Business Licence from the Delaware Division of Revenue.
It is also possible for an overseas company to do business through an intermediary such as a sales representative, distributor or branch office. However, these structures can expose the overseas entity to much more risk and liability in the US. Overseas companies electing to use one or more of these alternative business strategies should be mindful of the:
Various qualification and registration requirements.
Different contractual requirements.
Various potential operational challenges.
Nature and sources of dispute that can potentially arise.
If a non-US company uses a distributor or sales representative to establish a presence in Delaware, it must comply with a number of state and federal laws, including US custom and import laws, and it may have to obtain licences and permits required by any US legislation relating to the product it is selling. A foreign company operating in the US under any of these structures should work closely with US counsel to ensure that the contracts governing these arrangements minimise the risk of liability.
In Delaware, taxable business entities are only subject to Delaware income tax on Delaware source income, that is, the portion of their income allocated or apportioned to Delaware. There is no state corporate income tax on goods or services provided by Delaware corporations operating outside of Delaware. In addition, purchases in Delaware are not subject to sales tax, and Delaware has no value-added tax (VAT).
Delaware corporations must file an annual franchise tax report and pay an annual corporate franchise tax up to a maximum of USD200,000. The tax is assessed based on the number of shares authorised by the company using either the authorised shares method of computation or the assumed par value capital method.

If the company with whom we have this Distribution Agreement is the company registered in Delaware then there are a couple of other issues to consider.
The majority of Fortune 500 companies, more than 60% actually, have chosen to incorporate in the small state of Delaware. Why are more than 75% of all new initial public offerings in the U.S. done by companies incorporated in Delaware, a state with fewer than 1 million residents? Why is Delaware able to generate more than 25% of its general fund revenue from the incorporation business? And why have other states been unable to steal this business away from Delaware?
There are two major reasons for Delaware’s dominance of the corporate incorporation business. One reason is the bi-partisan political consensus in Delaware to keep the Delaware corporation statute modern and up-to-date, and to rely on Delaware’s corporate law specialists for advice in how to do this. As a result, law students at every law school in the United States study the Delaware corporation statute and the decisions of Delaware courts interpreting that law.
Corporations want to operate under modern laws that clearly spell out what they can and cannot do. But other states could enact such laws, or simply copy Delaware’s. So the Delaware corporation statute can’t by itself account for Delaware’s success in attracting corporate incorporation's.
The other major reason corporations choose to incorporate in Delaware is the quality of Delaware courts and judges. Delaware has a special court, the Court of Chancery, to rule on corporate law disputes without juries. Corporate cases do not get stuck on dockets behind the multitude of non-corporate cases. Instead, Delaware corporations can expect their legal disputes to be addressed promptly and expertly by judges who specialize in corporate law.
Other states can, and some have tried, to create similar courts dedicated to resolving corporate disputes. They, too, can resolve to appoint only their best legal experts to these courts. But they won’t have the large body of Delaware case law, court rulings, generated over many years that provide both guidance and predictability to Delaware corporations, lawyers, and judges.
Also,Delaware’s tax system gives businesses several ways to legally minimize their tax bills. Companies that are incorporated in Delaware but do business in other states don’t have to pay state corporate income tax to Delaware. Some groups accuse Delaware of being a tax haven because the “Delaware loophole” allows companies to declare certain types of revenue in Delaware rather than in the state where the business actually occurred. Delaware also doesn’t tax profits on royalty payments, trademarks, or copyrights.
Delaware is the premier base for Corporations today but it comes at a price. It isn't cheap to base a business in Delaware, on the contrary!! If this was a "fly by night" outfit then Delaware wouldn't have been its preferred choice of base.

I’m reasonably confident that Avi will be aware of the potential for this company So I’d be very surprised if he chose this moment in time to dispose of them. More likely to be a short term trader or someone in need of funds, possibly for Christmas

Even more interesting that DHL have satisfied themselves that our tech is their preferred option. That’s quite an endorsement from the World’s largest (3PL) Logistics provider. Other logistics providers will sit up and take note. Will hopefully lead to more lower value deals which would be most welcome especially if they opt for the SaaS route which is why Starcom decided to go down the modular route when designing their software

I've just read a new Trend Report which explains how the changes in the demographics of the workforce is already and will continue to impact upon the businesses of tomorrow. It's interesting in the context of this company because it explains in great depth how the Logistics industry will be at the forefront of these changes and will therefore witness significant increases in future demand.
The workplace is currently reacting to multiple forces of change brought on by shifting demographics, technology advancement and the Covid-19 pandemic. Businesses are having to grapple with a growing labour shortage and a war for talent.The global pandemic has radically altered the work/life balance for many workers and businesses are having to react to this if they wish to succeed.
For the first time in history "digital natives" ie. those brought up in a digital age, outnumber those who began their careers before the internet. Generations X and Y are beginning to take over the leading roles in business and they are driving a digital transformation and are very tech savvy.
Business is having to act now to cope and there will shortly be an explosion in the application of technologies around the world and this won't be even as some lethargic developed and protectionist economies such as the EU are not collaborating with technology in the manner they should.
The pandemic has greatly changed purchasing behaviors- for good, in the eyes of those closest to these changes -and there has been unprecedented levels of growth globally as more and more people have shopped online. In a recent study it was estimated that over 70 Million new shoppers came online in just 6 South East Asian countries since the beginning of the pandemic.
It is widely believed this has led to a massive surge in the demand for logistics and that to build more resilience into the supply chains it will greatly accelerate the digital transformation of logistics as more and more workers in the future will be working remotely.
This will create new work schedules as automation,visibility tools,contactless and flexible delivery technologies take shape and IoT sensors to track shipments will be just one example of technology acceleration as a result of Covid-19. It has become apparent that it is now critical for logistics organisations to implement optimal Future of Work concepts if they wish to remain competitive and relevant because many of them will simply disappear.

I'm not registered for Facebook so unable to see what those posts are alluding to.

Amazon intend to sell spare space capacity to other major retailers, such as, Walmart and Home Depot, for example, which will more than cover their operational costs and is regarded as a smart move.
This will be a huge logistics exercise requiring sensors galore to help move goods in large volume, quickly and efficiently. It will require state of the art technology with the type of features possessed by Tetis, Tetis R and Tetis R Hybrid who provide the perfect solution for tracking, monitoring and cargo management. They monitor every aspect from the moment the container is sealed until it safely arrives at its destination.
In addition to recording temperature,humidity and light they have combined connectivity- cellular and iridium - which allows tracking and monitoring anywhere and anytime even when outside cellular connectivity range. Kylos has similar attributes which are perfect for smaller packages and parcels and which offer a full management solution when used in conjunction with their mobile and online applications and can be combined with other products eg. Lokies for multi layer security.
They're going to develop a new market which is going to be huge and we only have to capture a small fraction of the opportunities these changes will bring which would significantly improve Revenues and Profits especially from a SaaS perspective which may be the type of feature that many smaller retailers prefer.
Currently there are no other container tracking and monitoring businesses that provide a more "state of the art" business solution than t42 and our technology has some unique features they don't possess. Covid has presented the company with the catalyst required to transform its business. Let's hope that the BOD are up to the task of converting the many business opportunities these unique circumstances are about to present to us.

Here's a brief overview of what the US administration is attempting to do to help overcome their domestic issues. The Biden-Harris Supply Chain Disruptions Task Force has been set up to : act as an honest broker to encourage companies to start collaborating. Many have responded to this call, recognizing that a once-in-a-century pandemic requires everyone to do their part to support the nation’s economic recovery.
Moving all links in the supply chain simultaneously doesn’t happen overnight, but the actions being taken by every link in the chain will make a difference. These actions are starting to clear the backlogs and break down the barriers that have made it hard to move this unprecedented volume of goods.
The US administration will also continue to track how well their nation’s transportation and logistics supply chain is handling this increased flow. This requires a goods movement chain that is more resilient, fluid, and can operate at a higher velocity. The Infrastructure Investment and Jobs Act, is designed to make the fundamental changes that are long overdue. This will be achieved by improving supply chain visibility and optimization through real-time IoT cargo monitoring and tracking which will uncover inefficiencies in the flow of goods, finances and information. Their aim is to provide multimodal in-transit supply chain visibility allowing all customers to understand what’s happening throughout their extended supply chain. With actionable insights, this will allow for the development of cost-saving strategies, optimization of supply chains, assessment of performance, and identification of bottlenecks.
Part of the US $1.2 Trillion infrastructure package is aimed at resolving some of their domestic issues within the global supply chain.Currently 000’s of tractor units are moving around on highways only 25% full. Right beside it is another tractor unit with a similar sized load going to exactly the same location. The US government’s aim is to collaborate and combine supply chains which would help take 000’s of trucks off the road and in the process radically reduce carbon emissions. This collaboration is already beginning to happen with the likes of Amazon who have a huge presence within the US logistics market. They are also acquiring small airfreight businesses with their own fleet of aircraft and plant to transport more goods by plane.

No idea. Seems rather strange on the face of it. Just wonder if news is leaking in relation to the proposed contracts, some of which are expected to be announced before the end of this trading year

https://www.telegraph.co.uk/news/2021/11/29/allies-britain-israel-can-trade-tech-superpowers/. This hopefully augurs well for T42 IoT Track, as the UK Government will be offering significant new contracts to Israeli hi-tech companies as the UK works towards improving its infrastructure as it proceeds to radically transforming the UK economy for hi-tech firms operating in various fields of industry.Significant amounts due to be spent on improving digital technology at our FreePorts and on Railways under the Shapps plan as we transfer freight from roads to the railways . Let’s hope our BOD can grab a share of what will be on offer

He also said "the Company is in advanced stage discussions for a number of potentially substantial projects concerning the supply of Starcom's various devices for the tracking and monitoring of containers and related items"
Now, that sounds a mouth watering prospect to me, but each to their own and it's up to everyone to decide for themselves how transformational the recent news is likely to be in relation to the future Revenue and Profits growth for this company

With sea ports snarled and companies scrambling to get space on super-sized container ships, air freight has become an attractive option for companies to get the goods.The sector is booming as a result, with prices two-and-a-half times higher than pre-pandemic levels. “Flying it in” has tangible advantages: air freight is far quicker than going by ocean, with just five days needed typically to get goods from the workshops of east Asia into key markets in the US and Europe. It’s also typically safer, with goods less likely to be broken than during sometimes-perilous ocean voyages.
However, it comes with a price tag, air freight is usually four to five times more expensive than road transport, and up to 16 times more than sea.The pandemic has forced a rethink. Freight prices have increased roughly eightfold in a year, as coagulation across global shipping lanes fed by logistics issues and frequent shutdowns in China chokes supply. Air freight has risen, but not as quickly, making it an increasingly tempting option.
Pre-Christmas pressures are helping to sharpen the minds, and open the wallets, of purchasing managers and chief financial officers. For many companies, a two-week delay waiting for a product during the peak sales season could be disastrous.The sector’s strength has not gone unnoticed. Carriers’ cargo revenues have risen from about 10pc to 15pc of their total to about a third and they want to ensure they keep a slice of the pie once passenger numbers recover.Shipping companies are also watching closely.
Earlier this month, industry leader Maersk announced it was looking to build air freight capacity as part of efforts to make its supply chain offering more resilient.
It’s not alone in realising the potential. Several other shipping advisory companies and data providers have recently expanded their product offering to ensure they cater for ocean and air, as companies become more flexible in their demands.The key to future growth is likely to be e-commerce. The sector has boomed during the pandemic, with consumers across the West becoming more used to products arriving within days of being ordered and Maersk expects growth of 4pc per year in the sector in the coming years.
There's plenty of activity at the moment which is creating multiple opportunities. Starcom have some of the best track and trace secure products currently available on the market. Avi recently said if they were successful in converting their current leads then it would secure "significant revenues over the next few years, including SaaS revenues".

I would also like to see these funds reinvested in the business. This will yield a much better return in the long run for the serious lth's, in my opinion. This is bubbling away nicely, below the surface, and will eventually see a rerate when the Market realises the future direction in which this company is heading. There's been much progress achieved over the last 18 months which isn't yet reflected in its financials due to circumstances which have been beyond the management's control.

I'm hopeful that Starcom's BOD have already embraced this as previous RNS's have intimated that we've provided assistance along these lines to customers based within a South American country and this may be one of the material orders which we hope will be announced after the Share Consolidation and name change have been approved.
There are various cited reasons why Starcom's superior tech has not previously captured the market share it deserved. However, there is now a new dynamic at play which has resulted from the pandemic and the global shut down of all supply chains. As the US and other developed countries seek to wrestle control of the global supply chain away from China, this will present numerous opportunities for the BOD of Starcom to present their business case and provide the solutions which big business is seeking. The price of our products was previously regarded by some as being too expensive but the rapid acceleration in shipping, air and rail freight charges along with additional costs such as penalties and demurrage expenses have now removed this obstacle. Also, the new inflationary environment is allowing for these costs to be absorbed within the price chain mechanism.

This means converting business processes over to use digital technologies, instead of analogue or offline systems such as paper or whiteboards.This is already a major trend within the maritime industry, but since the outbreak of COVID-19 it has become more important as ports must find ways to keep trade flowing as efficiently as possible.
For ports to cope with changes in the global economy, meet growing demand and an increase in throughput of cargo, the ports themselves and their stakeholders will have to strike new agreements on collaboration and standardization on big data, which in turn make port digitalization easier to achieve.
Digitalization in the container handling context is often considered as a matter of the overall logistic chain, cloud and big data. While those are undoubtedly key aspects in digitalization of container shipping, digitalization also transforms the operational processes and port workers’ roles within terminals which has an impact on terminals’ productivity.
Their ultimate aim is to launch a service for the digital issuance of orders, as the Russians have already done in relation to their railway system, hopefully with Starcom involved in the process, and transform into a fully paperless management system.
The technology enables the digital exchange of legally binding documents with the appropriate customs authority taking the goods from their port of origin to their ultimate destination.The adoption of this technology means that the procedure of order preparation by forwarding companies and issuance of documents confirmed by customs has been completely digitalised.
On the basis of an order issued in this way, the terminal may start loading a container onto a vessel immediately without additional approval. All participants of the process – the forwarding company, the customs authority, the terminal and the shipping line – have online access to information about the status at all stages of the process.
The technology removes the need for paperwork, making the transaction of goods more efficient and environmentally friendly by decreasing the time required to handle a shipment of export containers and will greatly simplify the interaction between the process participants.
Consequently an export shipment may be ordered and traced within a customer portal. The technology used guarantees data protection and integrity of data after it is entered into the electronic document flow system.
This will allow the digital preparation of documents that foreign economic activity players require to confirm the zero VAT rate application. Also,the congestion and delay caused by the pandemic could accelerate use of a digital Bill of Lading.

Another aspect of the Global Supply Chain which is receiving little media attention is the serious congestion at a number of major US airports. New York’s JFK and LAX are witnessing delays of up to two weeks to recover cargo. There is several weeks of backlog and cargo on the tarmac in JFK terminals . A Supervisor who has worked for a major freight forwarder for 28 years, said he has never seen it as bad as at JFK. There are severe delays at JFK across several handlers, particularly in buildings shared by airlines.He also added that he currently had missing shipments and “we have even sent individuals over to try and help look for cargo". They haven't a clue where their cargo is located. Each of Tetis, Kylos and Lokies are designed to address this issue.
It’s not just JFK, although the congestion there seems the most severe. Alliance and Swissport in Atlanta are also seeing a several days’ worth of delays.Chicago has had a rough year, congestion-wise, but sources said it had managed to resolve its difficulties. It was able to find solutions and move the imports off the airport grounds, due to the fact there was a lot of warehouse availability.JFK has zero warehouse availability for this option. JFK is a critical market, with the port authority needing to open space on the airport, regardless of the condition of the buildings. JFK is unable to find solutions and/or warehouse space.New York hasn’t made an investment in air cargo in a while. Chicago did – otherwise it would have been really screwed. The north-east cargo facility has been invaluable.
LAX is suffering from a lack of warehouse space, and the city is heavily focused on the 2028 Olympics, which is taking all its mental bandwidth.New security rules from 1 July, that require all freighter cargo to be screened, had reduced the space available.
Make no bones about it, the supply chain restrictions are currently crippling the US after years of under investment in new processes and systems. A substantial proportion of the infrastructure stimulus is aimed at resolving the supply chain issues throughout all of the links within the chain. The "spend" will be huge and a company ,such as Starcom, is ideally placed to benefit. Track and trace is the core of its business and its technology is cutting edge and on a par with any of the global players.
This infrastructure stimulus will create huge demand. Labour shortages have been cited as the main factor behind the congestion. They now have no alternative but to embrace recent technological advances in IoT, AI, Robotics etc as this labour shortage can't be resolved in the medium term. Digitisation and Digitalisation have been identified as the key to providing a solution.

At last weekend's G20 summit the US were calling upon all of their closest trading partners to make a collective effort to improve all links within the Tracking and Tracing of goods flowing through global supply chains. Their aim is to persuade all of them to make a significant Infrastructure Investment to help overcome the problems currently affecting global supply chains.
If the major developed countries adopt this theme the impact will be enormous with Starcom ideally placed to be a major beneficiary.through their various business connections.
https://bit.ly/3ocCNM6

They were initially trying to acquire their stake at 1.7p but eventually had to settle at 1.8p. Be interesting to see if the sp "gaps up" this morning. Also, there have recently been several large buys in the 500K/ 1 Million mould. There is some speculation that Myles may be buying-in AGAIN. However, whether true or not, it doesn't really matter as long as sentiment and momentum are working in our favour. News of any substantial contract win should light the blue touch paper which would be especially apt at this time of the year

A large delayed purchase of approx 1.5 Million shares @ 1.8p has just surfaced from yesterday. May help sp to gap up early tomorrow morning