The long awaited Ecobank update is here, and this will be part 1 of 3 posts that I am working on. Forgive me for making you all wait so long, I will discuss this further in part 3.
Part 1 - Reality on the Ground (update)
Part 2 - Virtual and Legal Positioning
Part 3 - Strengths and Weaknesses of our Position (and next steps)
So without further warm up, I will jump right into Part 1:
Ecobank as "an idea" is something we will delve into, and its honestly something that has caused some issues, such as our Binance application. Are we a tourist company or a real estate 'fund'?
But I know, since I set up the project and wrote the posts, that the "opportunity" here is a bridge into the physical from a digital world. Our tourism company holds some assets with which to do tourism with - its not particularily essential that we "do tourism" very well, although more cashflow is always better than less.
We will dive further into this in Part 2, but for now we (continue to) own two assets. One, our hotel, has been improved over the period with additional occupancy and some other modernizations. We are positioning to sell this asset at some point.
Again I have set myself to do an entire Part 3 about strengths and weaknesses, so let's try to stick to the reality. Both of our properties have "key partners". For our hotel, that is Mr. Daza. Read more about him here.
He has built this property from the ground up, and has been very grateful for our involvement and has continued to make the upgrades over the last long year - rain or shine, volcano or no volcano. He has possibly been much more interested in upgrading the infrastructure than the cashflow, but that is because he believes that that is the right outcome to pursue.
We have talked quite a bit recently, and I have been tasked with putting together a modern "one pager" in canva so that Mr. Daza can help offer the "Casa Lago" package for sale to investors (paisas). There is still one particular local investor, but he hasn't made a move yet.
Yes I have been fighting for this recently, and of course the answer is and has been yes; but when? Well, although not everything is yet set up to my liking, I don't want to wait any longer so I am announcing the very first ECOBANK dividends - today! Well, that might not be fair to those with tokens on the market after so long without a post so...
What does this mean? Unfortunately I cannot yet show you as much as I would like. The administrator does a great job, but we are still working back and forth on 'a report' that I can use to show all of you what is actually happening. We are in complete agreement with Mr. Daza about this, it just is taking longer in practice than I would like.
So basically, I am just going to pay the dividends and figure it out later. These dividends are quite small, but let's take a look at the reports hopefully next month to see exactly what is going on and how many dividends we should be getting.
We are still here, and I will be back shortly with the next two posts in this series, as we get back on track to regular updates with the Ecobank.
To all holders, please feel very free to reach out to me - privately is fine but it is actually my preference to be able to address as much as possible publically, here in the comments. Be not afraid!
