The future of this ecosystem is being built on unprecedented levels of transparency and education. Through our BEVIS service, all key documents and recordings are now digitally notarized on the blockchain and stored permanently on IPFS, ensuring our history is unalterable and open to all. Beyond the hardware, we are expanding our reach through Crypto U, an education platform designed to onboard the next generation of users, and Zero Chill, a "proof of play" gaming initiative that ties entertainment directly to mining power. We have emerged from the storm stronger and more organized than ever. You are not early to a project falling apart; you are early to a global ecosystem being built the right way, with a clear path toward peace, prosperity, and long-term economic independence.
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0:19I mean, for a guy carrying the future of mining on his shoulders. Well, somebody's got to carry the future of mining, right?
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0:27But seriously, we wanted to jump on here together and talk directly to all the escander miners because some big things are happening right now.
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0:35Big things are happening. Real things. And this isn't hype. This is progress. And this isn't one of those just wait, something's coming moments.
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0:45This is the, it's already happening moment. Season 3 is here. The project is alive, funded, and moving forward stronger than ever.
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0:54And we're not just making noise anymore, we're building something that lasts. TEXITCoin is now verified on CoinMarketCap. That's global visibility, real credibility, and a major step forward.
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1:08Now let's talk what that actually looks like. CoinMarketCap verification, that's a big credibility move. more visibility more legitimacy more eyes on what we're building and on top of that full code transparency is rolling out which means more clarity more trust and better communication across the board
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1:27now let's talk mining now mining it's not theoretical anymore it's live it's active and it's profitable we're talking real daily output scaling compounding growing and the foundation keeps getting stronger every single day.
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1:43Four coin merge mining is live. We're talking over 100,000 coins mind daily. That's real output, real rewards, real scaling. And the Iskander infrastructure keeps expanding, new hash lock options, new verification systems, stronger foundations.
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2:02Then you've got platform growth. Then you've got usability. The swap platform makes it easier for people to get into TXC.
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2:10And that matters because adoption is everything and where we're going next This is where it gets exciting. We're moving from idea to implementation to real world utility And phase two is already underway tap-to-pay systems real-world transaction rails Expanded blockchain infrastructure.
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2:30This is moving fast and it's not just about mining anymore We're building something people can actually use and that includes zero chill, proof of play, gaming tied to real mining power, onboarding people in a way that's actually fun because this isn't just a system, it's an ecosystem.
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2:49Crypto U is where everything starts to click. It's our education platform designed to help everyday people understand digital finance, blockchain and how to actually participate in this new economy.
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3:03No hype, no confusion, just real knowledge, step by step. Because Because as we grow this ecosystem, education isn't optional, it's the foundation.
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3:14And the shift we're seeing right now, it's community first, more meetups, more education, more people stepping up and building together.
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3:22We've got tours, PR campaigns, influencer outreach, and momentum building everywhere. We've been through the storm. And the message is simple, no fear, no slowing down.
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3:35We've been through it. Now we respond with momentum with honest money. So here this clearly You are not early to something falling apart You are early to something being rebuilt the right way.
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3:54The future looks brighter than it has in a long time The infrastructure is growing. The opportunity is better than ever.
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4:00So stay plugged in. Stay ready because we're The momentum is real, the vision is expanding, so stay excited, stay moving forward because you are right where you need to be, an Iskander minor.
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5:15You know I absolutely love it. I wasn't I was just listening because I'm setting up over here I go back to it and then all of a sudden, Jim's dressed up as a bird.
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5:37Great work, guys. Very nicely done. That was, that was very impressive. Your skills continue to blow my mind. I can't even imagine how many gigawatts of electricity and AI, you know, infrastructure went into producing that.
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5:55It's just, it's got to be quite a bit. but nicely done and thanks for putting that together. Thanks for helping us kick off.
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6:03Season 3 Phase 2 Part 1 Chapter 7. I don't even know what our numbering systems are anymore. But I know that we've got something exciting and I know that it's brought 182 people together late on a Wednesday night.
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6:17Tax Day for Americans, cheers to Uncle Sam and all the great wonderful things that he is going to do with your tax dollars.
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6:28but we've got a great thing and you know, I try to be careful with the language, you know, the reboot, the, the band back together, you know, but a lot of people point out like it never stopped, it never, it never dispersed.
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6:47It is us just simply continuing right where we left off with our mission of, you know, spreading the message of peace and prosperity with everybody, everywhere.
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7:01It's not just about Texas anymore. In fact, Texas is, you know, handicap now to a certain extent. So the message continues, the the excitement continues.
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7:13We've got it. We've had a great thing. We've got a great thing. We're doing a great thing and and so thank you to everybody that took time out of the day to join us on the call.
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7:22I want to pause real quick. I just want to stop from moment as we use that kind of that language that indicates that something happened and I want to go back and just remember real quick what we accomplished with this little 17 minute video that I put together with a couple guys on a dirt road with very
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7:46little experience in crypto with very little experience whatsoever in network marketing, I want to just stop and reflect for a moment on the 50 plus thousand people that we brought together, the 140 plus million dollars of cash that was crowdsourced, the travel, the parties that we threw, the systems
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8:13that that we built the, you know, the things that we did together that got us to where we are. It's very impressive and I just really want to encourage us as we start this next phase to, you know, remember that we won.
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8:33We did exactly what we set out to do. We learned a lot of really important and valuable lessons along the way.
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8:42But there's no there's no chance that we can look back on our accomplishments and think of it in any way other than an absolute smashing success.
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8:51And I know that that's a hard thing to digest if you got in on February 10th. If you wrote that check on February 10th and you said all right, and then Bobby comes out and starts talking about how we all won.
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9:02It's like, well, not me, not me, not yet, or you bought a handful of coins in September because the price was going wild.
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9:15And you said, this thing is such a sure bet I'm going to go all in and you bet the farm on it.
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9:20And you're looking at it now and saying, what did Bobby say? We did great, we all won. And so take a deep breath.
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9:27Remember that we're part of this, you know, this market ecosystem system cycle now, where things start out and then they get exciting and then they have a correction.
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9:38And there's a series of events that happens in parallel with the work that we do. And so we're doing the work.
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9:44The work hasn't changed, the work hasn't stopped, the core team is still here. You know, the things that we set out to do, we're still doing today.
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9:55Some of those things have changed a little bit. Some of those have pivoted, as we like to say. But the core strategy always works in parallel with the market cycles.
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0:05And that's really true for us, but I don't think that it's true for the Bitcoin community today. You know, you go out to a Bitcoin event today, man, and it's like going to a funeral right now.
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0:13Everyone's down in the dumps. Nobody's excited about anything. And so you can see what a real project looks like and how the energy and enthusiasm stay solid.
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0:24It's not spread perfectly across the board. But you can see that an engaged community of participants Exists outside of the market cycle and that's a really important thing because we're gonna see it again and again and again and again I mean how many times did Bitcoin go through you know meteoric rises
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0:43and catastrophic, you know drops and and Failures and deaths and yet it had its own community as well. So I want you guys to think of us that same way we are Satoshi.
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0:56We are the guys that had that fire lit in our hearts about this financial technology. We saw what it can do.
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1:05We saw where they went wrong. A lot of you guys saw where we went wrong. So, as we look at the work that we do and how it exists in parallel to the market cycles, let's continue to improve.
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1:18Let's continue to pay attention to these things. And we've got a big opportunity now with the IDMC, because you not only have a say in the matter, or the ability to contribute your ideas, but you have a requirement to do it.
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1:37A straight up sign that 227, how many people we have to now? 230 of us have signed off on the fact that we're going to actively participate in the future of shaping this thing and helping us prevent stepping in those potholes to keep an eye out for that.
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1:56I told you guys from day one, your job is to watch my back. It's just as true today as it's ever been and then some because now I need you to not just watch my back but our back and your back but also actively participate in shaping our future so that we avoid challenges so that that we overcome, whatever
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2:16comes up, cause things will come up. Whatever comes up quickly, efficiently, and with joy in our hearts. And so first thing on my notes for tonight's call is just stop guys, take a look back.
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2:29Hopefully your experience with us has been good. We want it to be great. We want everyone to probably think about our next market cycle a little bit different than maybe we thought about the current one or the past one, but point is, let's reflect for just a moment, pat ourselves on the back and say,
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2:52good job, we did it, we're still here, we're still breathing, we got fresh air, we've got a great team and we're ready to keep going forward, let's go.
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3:01And I've been talking to people over the last couple of days because part of the conversation now is about the comp plan and whether or not that's going to come back around and if so when and all this stuff and we've got such an amazing talented group of people now that are contributing ideas and structure
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3:22to that question and the potential answer. And I pause for a moment and say, man, we did really well with whatever I had.
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3:33And my experience in that realm was extremely limited the two best people that I knew in the world of network marketing.
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3:41One guy was a month away from, you know, wrapping up his time here on Planet Earth, and the other guy's on house arrest and a convicted felon.
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3:51So like, that's the mentorship that I had to get this party started. And I learned a lot from them. I learned a lot from the court cases and the indictments and the things that I've read over the years to build this thing.
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4:06But we got to where we are now with very little, no legal structure, no high-powered, expensive attorneys on retainer to keep us perfectly on the straight and narrow, like none of that stuff.
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4:25Just a couple a guy's spare bedroom, a dirt road garage, and an attitude to do the unthinkable, to do the impossible.
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4:36And we got to where we are and I've said it a hundred times with risk and trust. And those are powerful things.
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4:42And I want you to remember that's how we got here and that's going to continue to be the guiding light and the focus for us as we go into this next chapter or phase or season or whatever the nomenclature is that we're using.
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4:58So we did really great with almost nothing back in the beginning. Just imagine, imagine what we can do with all of you guys, with the leadership that we've got now from our legal team.
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5:14You know, I never thought I would have said those words, but I'm really impressed with the team we have. I even invited our friend to join us on the call.
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5:21I don't know if he's out there. there, but we got a lot more going for us now. We didn't have a network before.
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5:29We didn't have merge mining. We weren't on exchanges. We weren't on CoinMarketCap. There's so much that we have not just already done and complete, but also now at our disposal to go into this next chapter and quite a few resources as well.
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5:46People look at the charts on the website like man Bobby made 40 million bucks and then I know Bobby's done very well but a lot of that that cash has retained earnings that we have yet to use for our advantage.
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5:59And so you know if you think of how far we got with no structure, no legal guidance, no understanding whatsoever, a very murky lack of guidance from the SEC.
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6:17I mean, guys, it is mind-blowing to think of how far we got season one and two or phase one or whatever you want to call it.
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6:26And it is exciting to think of what we can do now together with all the stuff that we've got going for us into the next season.
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6:37And so that's very exciting to pause and consider as well. Okay, so what my expectation is that IDMC, the Iskander digital mining cooperative is going to be everything we need to push us over the finish line.
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6:59What is the finish line? The finish line is building the mine. Everything we talked about from day one is still just as true now as it was then.
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7:09We expect to get a top 100 coin or two or three or four or five now by building a mine.
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7:17Proof of work mining is just as important today as it ever was and there's a direct connection between building the mine and having a valuable coin.
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7:24And so that continues to be the strategy moving forward. Now the ecosystem as we learned from the video a few moments ago was continuing to flesh itself out.
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7:34Back in the beginning we said we're focusing on court tech, we're focusing on the mind and we're focusing so on downtown digital community currencies.
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7:41Same stuff, we're adding education into that, you know we've got this concept we're calling Learn to Earn, we've got gaming that we're adding into that, one of the very first use cases for blockchain technology, they call it play to earn, we've got more stuff that I'm not even ready yet to talk about
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8:00. But other things that are fleshing out that ecosystem to give us more points to connect with the world. And so with all of those things combined, I do expect this to go further faster, but I can't do it alone.
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8:15And I'm not doing it alone now as we go into IDMC. Everything that we've learned, the legal research, the documents that we put together to present this Friday to the SEC has pointed me in the direction of a cooperative.
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8:34And I'm not going to rehash everything we talked about a couple of weeks ago, last week, week before, whatever, because I think you guys know the basic premise at this point, but the point is that we didn't get there by accident.
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8:46We showed up at this concept because it works because it's a really great way dealing with two major kind of headwinds from the regulatory side.
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8:59One is participation and equal equal benefit for the participants. And what that means is look we're all in this together, we all have an ownership interest.
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9:12Anything that's dispersed happens proportionally and equally to everybody. There's not one guy now that's sitting there as the extractor of wealth from a community of people that are getting duped into something that they don't understand.
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9:28We've got formality now. Number two, with structure, with an official state-recognized format that helps us lead the way in the conversation with other states and other countries that we go to.
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9:43You know, we have spread this message all over the world and we've gotten some pushback. In New Zealand, for example, the financial regulatory authority there is, you know, very curious about what this thing is that it's got so many people excited and sharing things on social media.
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9:58And the word co-op really gives us a much better introduction to the regulators as we continue to grow.
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0:09And people all over the world know what a co-op is. They know that it's a member-owned organization that's pulling resources.
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0:17Swapi just sent me a message earlier today said, you know, we're still kind of pulling resources. That's exactly what a cooperative does.
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0:24Cooperative brings together resources to use for the benefit of every member of the community. And so as we use that word going out there with our message, it opens the door in a format that's a lot more digestible than we're a crypto project that's shooting for the moon when Lambo and so we've really
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0:46been hoping to find a way to differentiate ourselves from every other you know crypto scam that's come and going over the years and make sure that you know regulators know that we're doing it a little bit different in fact we're doing it significantly different Yes, we've got mining.
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1:04Yes, we've got this multi-tiered compensation program that smells a lot like MLM. Yes, there's a lot of money involved. Yes, it's crypto.
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1:13Yes, yes, yes, but stop because you have to understand that the very nature of a community currency requires active participation from the members, from the users, from the traders in order for it to be valuable.
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1:29And so, instead of trying to get to the point of the conversation where we can explain it, we enter the conversation with, hey, we're a co-op.
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1:39And that is a legal definition that really frames us correctly so that regulators that we have yet to, you know, cross paths with know exactly what we are from day one.
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1:54And that's a really important distinction. It's going to help us not just actually but also hypothetically as we continue to grow.
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2:03Because the last thing we want right now is to start this train going down the tracks and then slam on the brakes right again because we didn't change anything fundamentally that demonstrated to the community, the general public, the regulators, the overlords that we are very different from the other
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2:23crypto projects that are out there that have come and gone. And so think of today, think of this moment right now as the end of the beginning.
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2:32Think about how far we got, how we got here, what we have going for us, the very significant modifications of structure that are going to now put us on a platform, a foundation that's a little, a little more sturdy than Bobby's yolo strategy.
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2:53They did really well in the first place. So like I said, pat ourselves on the back. We did great and now we begin this new chapter, this new series, what do we call it?
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3:03A series, season, new season, season three, season three. Here we go. So we begin this now and we take into consideration all the things that we learned, the good, the bad.
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3:14We apply that now to the future, which I expect to be extremely bright and and let's jump into it. So having said that first I want to thank everyone that took the time to review.
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3:29Hopefully you read and agreed to the new Iskander digital mining cooperative constitution and governing principles.
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3:43So so a couple things here let me share my screen with us. A couple things here as far as housekeeping is concerned.
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3:53I think this is it. That looks right. You guys see my constitution. Okay. So, first and foremost, please become familiar with some of the basic terminology.
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4:09Basic terminology is our abbreviated name is IDMC, is candor digital mining cooperative. And oh there it is. Okay and so that's really number one.
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4:24Like I said, the the best thing that we can do is we're out there introducing ourselves is as a cooperative.
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4:29We tell people we're a They go, oh, okay, that's like a member-owned community that pulls resources for a common goal.
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4:36Okay, and that's the short definition of it as well if you'd like to follow up with that. So IDMC is the Iskander Digital Mining Cooperative.
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4:48We use IDMC or Iskander DMC as some of the abbreviations for what we're doing, but make sure you get that word cooperative in there.
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4:58the iskender digital mining cooperative. Well, what do you guys do? We're pulling our resources to launch a coin. We're pulling our resources to get inexpensive industrial price power so that we can compete out there with the rest of the cryptocurrency industry, which is now dominated almost entirely
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5:17by banks and institutions. Boom. There's our mission statement, there's our statement of purpose, it's not what we're going to use to actively sell and promote, but if you get caught kind of in the middle of a conversation, we're a cooperative that is organized to pull our resources to get cheap inexpensive
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5:39electricity. There you go. Okay, so we start there with terminology number one and the number two is we are our document the governs the organization is called the governing principles.
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5:55So this is a state of Wyoming term and we are we're referring it to it as our constitution and the state refers to it as the governing principles and so they're kind of you know they're not necessarily interchangeable from a legal perspective but I want you to become familiar with both of them.
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6:15Why? Because the state wants us to call it governing principles, which is kind of boring. We like to think of it as a constitution.
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6:21Why? Because I don't really like the word cooperative. You know, I don't really like the idea of, you know, a rowdy democracy that can be swayed by special interest and taken over and rendered obsolete.
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6:39You know, a couple of people have said like, you know, we're just kind of getting through some questions and some objections.
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6:45And one of them, like, is this really going to be member-owned and controlled? Like, is that for real? And the answer is, yeah, kind of.
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6:54We'll get more into what the kind of means in a moment. But the point is that we're setting this thing up to work kind of a lot like the US Constitution, which worked pretty well for like 250 years.
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7:08And what that means is that we have the opportunity to define how our organization is run and managed. And those definitions are set out now in this governing principles document.
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7:22We'd like to think of it as a constitution because we wanted to work like the constitution, that old fashioned employee handbook of the United States works as well.
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7:32And what that means is that You know, there are going to be a lot of things in there that are identified.
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7:37Then there's going to be some power that's given to the Board of Administrators. The Board of Administrators are going to hand off some of that power to the committees and the committees have chairs.
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7:47And so we can't change the Constitution without your vote. What that means is that the General Assembly is directly involved in crafting, approving and or potentially modifying the Constitution.
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8:02And so that can't change without the entire general assembly being notified about that change, given an opportunity to review and discuss the change, and then put to a community general assembly vote, okay?
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8:17And so that's our constitution. We want you to think of it like the US constitution that gives a lot of authority to the states to come up with answers to things that aren't specifically guided by the constitution.
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8:30And so, we want to have that same format. We're not turning this thing into a cheerocracy where every little expenditure is going to be, you know, put to the general assembly.
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8:40You guys got better things to do. You know, it's going to be a big shift and move away from where we were before.
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8:48But the constitution and governing principles are the managing document for this organization. And so, like I said, as far as terms and terminology you're concerned, the state of Wyoming wants us to call it governing principles, and we'd like to think of it as our Constitution.
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9:06And so keep that in mind as well as you're talking to folks about it. By the way, congratulations, the IDMC is now in existence.
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9:15We needed a hundred people to sign off on the Constitution and governing document. We've got well more than a hundred people.
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9:24And look guys, all of these calls now, they're all going to be recorded, they're all going to be shared publicly, and they're all going to be stamped to the blockchain.
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9:32You know, everything we do now, if you thought we had transparency before, OMG, get ready for like unbelievable levels of transparency, like all the way.
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9:43If you read the governing principles, you'd know that everything is open to everybody. Now, because of that, we're going to do everything we can to put all of it on chain.
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9:52What does that mean? It means we're going to share it with the blockchain. I developed BEVIS blockchain enabled verification and information service some number of years ago.
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0:02Beavis will take a digital file like this zoom recording. It'll get the unique hash value that represents this digital file.
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0:10It will plug that hash value which is an IPFS file name into the blockchain. Then you can Always and permanently and forever find a copy of this in the inner planetary file system.
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0:27So what we do is going to be digitally notarized on a blockchain and the file is going to be shared to IPFS, the inner planetary file system, the permanent web.
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0:37The permanent web that can't be modified ever because it's saved by its unique hash value in the IPFS file system as opposed to some file name that I can just rewrite the header of the footer and we've got a whole new document.
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0:53And so epic, unprecedented levels of transparency are coming your way. Guys, look, you're going to learn about some stuff in the next few minutes that you may or may not like.
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1:02Fortunately, 100 plus people have signed off on our little document here. So the organization exists, but the next step for us now that the organization exists and has been duly formed is to get on the phone with every single person that bought Iskender Mining and make sure that we've got your specific
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1:21agreement and also make sure that we've got your sales and commissions and all that stuff tabulated properly. The reason I mention that is because we're not grandfathering in all of the TechSit coin minors.
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1:35This is brand new, it's a brand new organization, it's a brand new structure, it's going have new coin wallets for, you know, allocating budgets and spending for approved things.
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1:49And so this is a blank slate. Now, what we're doing is we're trying to bring over all the people that signed up for Escando over the last couple months, but that's going to require a one-on-one phone call if they haven't done that already.
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2:03200 and something of them have. And so I don't think we've got a lot to work to do there, but we've got some work to do to bring everybody into this new format.
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2:13And so step one for our call tonight is the official adoption of the Constitution and governing principles of the IDMC, the Iskander Digital Mining Cooperative.
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2:27I'm going to run through this thing very quickly and just point out for the recording sake, and the 208 people that are on this call, a couple key things.
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2:37First of all, the preamble sets out our mission. What are we doing? Well, we want to get involved in crypto and blockchain, but unfortunately, we need these expensive computers, high cost equipment, and epic amounts of power.
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2:52As a result, institutional investors, nation states, and large corporations armed with vast capital have come to dominate the industry, and we feel left out.
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3:00Bitcoin and crypto was supposed to get us into this decentralized finance game and unfortunately the whole thing is going full circle now and we're right back where we started.
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3:11Not just with the banks and complete control of it, what is it? Michael Sailor has 3.7% of all Bitcoin now.
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3:19He's even overtaken BlackRock with his publicly traded company. point is that we want to bring not just participation back to the individual, but we also want to bring the retail excitement back to the industry.
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3:34How are people expected to go out to these Bitcoin events, drop $1,000 on tickets just to hear bankers give speeches?
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3:41No way. Those days must come to an end if this beautiful financial technology that makes the world's most open and honest and transparent currency possible.
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3:56We have to get people excited about that again. And that's our mission. Our mission is to bundle our resources so that we too can get our seat at the cryptocurrency proof-of-work mining table.
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4:09And so that's our mission. Engage in responsible digital cryptocurrency mining technology development and related activities accurately distribute benefits among our members, promote environmental stewardship and community development and build long-term economic independence from members based on active
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4:23participation. Real quick note about this moving forward as well. We got some suggestions and changes from our community. Lonnie was very helpful in putting together some of those things.
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4:34I incorporated a very few of them but what I want to do is I want to put that effort back on you guys.
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4:40So we'll talk about your marching orders as we wrap up the call. But the point is that I'm sure that this document's got a typo or two or a missing comma or a hyphenation problem and we can deal with all of that as the party gets underway.
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4:56Okay, so membership is section one. You got to put a thousand bucks in minimum. There are going to be limits that are, you know, made change from one area to another based on where the person is contributing from.
0:
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5:12And you are also agreeing to abide by this constitution and governing principles and all policies established by the Board of Administrators.
0:
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5:21There's your third terminology, your third term, the managers of this thing since it's not like an LLC. We don't have managers.
0:
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5:30We have administrators. And so we've put together what we call the Board of Administrators to be the second highest governing authority in the IDMC.
0:
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5:42So, the highest governing authority in the IDMC is the general assembly. That's you. The second highest is the Board of Administrators.
0:
3
5:54And so, what we're doing here, which is, you know, one of the reasons why we structured this in Wyoming, is because we want the voting rights of the member.
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6:06And that's you. You're the member. We want the voting rights of the member to be based on the number of seats that you hold.
0:
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6:16And this is a really important concept. So let's take a moment and understand it. It's not one member, one vote.
0:
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6:25That's how it was to get this started. But now that we're started, the governing principles take over as are authority.
0:
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6:33And the governing principles say that one seat equals one vote. Really important because like I've always said from day one, we want the people with the biggest say in the future of this organization to be the people that have done the most help us build and grow.
0:
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6:55Simply stated, the people that are most active in helping us get to where we want to go, not by buying but by earning seats are the ones that we want to control our future.
0:
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7:12Those are the ones that we want to have the biggest say. Now, it doesn't mean they have all to say, Jay, you've got a giant chunk of mining out there, but do you know what percentage of the mining that you have?
0:
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7:22I mean, it's not 51%. I could probably look it up if I wasn't Maverick away here, but the point is that the guys look we still have a cap on how much money you can buy if somebody jumps in right now and buys 81 seats 81,000 dollars It's a tiny amount in the grand scheme of things, you know even in iscater
0:
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7:4681 100 mega hash over the two million mega hash is Half of 1% 4 tenths of 1% So, it's incredibly small, but the point is that we want the people that have earned the most hash power to be the ones that are able to have the most impact on the important decisions that get put to the General Assembly.
0:
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8:11I hope that makes sense. I hope you guys understand that. It's how we've always done it, and now it's here in writing.
0:
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8:19Okay, so I remember Shalva the right to participate in the Democratic governance of the IDMC, receive the Daily Mining Awards and other reasonable compensation for services rendered.
0:
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8:28This is a big thing as well, guys, because even though we are a cooperative, even though that we are a duna, dually formed under Wyoming law, we are allowed to generate a profit, and we are allowed to pay out reasonable compensation to participants for contributions.
0:
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8:48And that's going to be an important thing as we get into comp plan, referral bonuses, all that kind of stuff.
0:
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8:55But we are able to make money, earn money, earn an income and we are able to pay bills and creditors and all that stuff as long as it is in fact reasonable compensation.
0:
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9:06Your job is to help us make sure that it stays reasonable. I remember she'll have the ability to the right to access information about the co-ops, finances and operations that's provided in this constitution and applicable law.
0:
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9:19Every member is expected and required, expected and required. Let's pause for a moment and talk about what we've learned about securities in the last couple of months.
0:
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9:32Four key pieces to the how we test. One is an exchange of money, two. It's a common pooled enterprise. okay we're we're one and two there so far even with the IDMC.
0:
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9:45Three is that there's a guarantee of income and four is that it's done exclusively on the work of somebody else.
0:
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9:52And so we've got to really hit number three and four there head on as we go into this new format.
0:
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0:00And so we start by pointing that out here that you are expected and required to actively promote. Whoa! You're saying, I'm allowed to promote?
0:
4
0:09No, no, no, you're expected to promote why? Because of Metcalf's law. We talk about that here. We talk about that the basic value of our currency increases exponentially with every new participant the joints.
0:
4
0:24And so not only are you encouraged and welcomed to promote, but you are expected to actively promote through social media, real world events and other appropriate channels as allowed by law.
0:
4
0:34And according to the rules established by the IDMC. Okay, is telling your next door neighbor about it promotion? Sure. Is like mentioning it, like in passing to a stranger, sure.
0:
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0:45Can you prove up all those things? Maybe, maybe not. Are you going to have to keep a log of like day 17 told my friend during the dog walk this morning about Iskander?
0:
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0:56No, guys, look, what we're going to get out of the the comp plan committee is a better understanding of what are comp plans going to be and how you can participate in it and you know not have to worry about it being changed or kept or limited or excluded or you know retired or whatever but part of that
0:
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1:17is going to be based on your active participation and so one of the things we build into mind TXC that you know again a little pat on my back there is the fact that you can't take out more than you brought in, which automatically makes it not a security.
0:
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1:31It's a very, very lucky and powerful thing that we did. A lot of people didn't like it. Okay, so how do we get around the not liking thing going into the future, but also make sure that it doesn't become a security?
0:
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1:42I don't know. That's what the comp plan committee is going to help us figure out with legal review. And so, yes, you are not just encouraged to promote this thing.
0:
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1:54You were expected to promote this thing according to law and according to the rules that we establish. Number two, complete an entry level certificate of education from an IDMC approved course provider.
0:
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2:07Big question, are there any IDMC approved course providers? Yeah, there is. There's one, in fact, it's called cryptou.ai and it's absolutely beautiful.
0:
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2:18And Cory, I don't know if you've got an official like three minute entry-level course and a couple questions that pop up after that but if you don't one of the first things I'd like to do is get that together so that in a reasonable amount of time after you join you don't have to do it on day one but
0:
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2:35a reasonable amount of time after you join you're able to watch a video take a quiz and check off that box says that you went through the approved course and got the basics in place so that you're out there doing our thing the right way.
0:
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2:49Look, I get on these Zoom calls. We've had lots of discussions with the attorneys and stuff about legal and, you know, so what does the government really want?
0:
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3:00You guys realize that we record and transcribe every one of our Zoom calls. I've got 106 weeks of Zoom call recordings.
0:
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3:07If there's anything that I've ever said that was wrong, if I ever accidentally use the word invest, or whatever, it's in those recordings somewhere, go get it, have at it, enjoy.
0:
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3:18If you want to take me out based on something I said 73 weeks ago, it's right there in black away.
0:
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3:25Point is, in these education videos, we're going to make sure that you guys have a good understanding of what you can and can't say.
0:
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3:32It's not so much, you know, point is that we want to make sure that you guys are out there keeping it clean as you are actively promoting, you know, words like passive income, as a no-no.
0:
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3:46So as you say passive income the government here security, okay if you're saying guaranteed You know, that's a big no-no You know what I've said is leap of faith join us for an adventure throw your cash in You know, make sure that you have the ability to lose it all in its entirety You know so so we
0:
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4:08want to make sure that the wording and language is not going to be provoking or or getting more regulatory scrutiny than we really desire.
0:
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4:18And so that's an important thing as well. Taking that class and understanding what the basics are. Inviting friends, family and others to join and refer at least one new member during each 12 month period.
0:
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4:29Now this is a sticky one and it's an important sticky one. Because look, we've talked about in the old days, you don't have to do it if you don't want to.
0:
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4:40Okay, well, are you saying on point number four of this thing, I have to do it now? Yeah, you have to do it now.
0:
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4:48Well, I don't want to do your MLM thing. Well, then just go buy some coins on the open market. If we're out there and presenting to the regulators that we're not a security and the active participation is required, we're going to have to prove it.
0:
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5:02Now, what happens if you don't bring a person on a year? I don't know. Maybe the membership committee will have to figure that out.
0:
4
5:07But the point is that we have to actually mean what we say or else it's all fluff and they'll see right through it and they'll try to shut us down.
0:
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5:17How do we make it meaningful? But put in active participation requirement and they're like referring to somebody. Why? Because Metcops Law says that every new person we refer is going to exponentially increase the value of what we've put together, very important.
0:
4
5:31So the point is don't get too stressed out about number four, but I do want you to think about the fact that there are going to be lots of ways to join our ecosystem and lots of ways to support our project.
0:
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5:42Learning and participating in our education platform that's going to support our ecosystem. Playing the video games is going to support our ecosystem.
0:
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5:49Buying some coins off the open market is going to support. So there are lots of ways that you can get involved and have a little piece of the potential upside outside of joining the IDMC.
0:
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6:02So what is the IDMC? The IDMC is a cooperative that's trying to crowdsource the largest mine that we can to get the best prices on electricity, give ourselves the greatest chance whatsoever of getting our little coins into the top 100.
0:
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6:16If you're not willing to actively participate that, then you need to find a different way to participate in the ecosystem.
0:
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6:26I hope that makes sense. Like I said, guys, there's no teeth on it right now. It doesn't say like, or you shall be kicked out, your mining turned off and you shall henceforth be referred to as graduated?
0:
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6:39No, no, no. Take a deep breath. We put these things in there because we need to have a significantly different structure than what we started with two years ago, but we're going to iron some of these things out as we go.
0:
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6:52And that's why the Constitution is a document that is able to be modified with your participation. But here's an important one.
0:
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7:00Participate in voting on all matters brought before the membership. This one's easy. It's going to be fun. We're going to make it, you know, kind of semi entertaining if we can.
0:
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7:11But the point is that you'll get a message, hey, there's a vote. Here's the suggested change. You know, type this button for yes, type this button for no.
0:
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7:20You got to do it at bare minimum. You know, there's not a lot that we're asking from you guys, but this is one of the things that we absolutely need.
0:
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7:29And so please, please, please, if you see a request for a vote, there's probably going to be quite a few of them in the beginning here as we get started.
0:
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7:39Look, as we get started and we're figuring out formats and how things are done, you know, you saw a moment ago that the membership is, the general assembly is required to vote to change the Constitution and governing principles.
0:
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7:54But as we get started on this call, we're going to have a couple of votes. And we're going to have a couple of votes because, especially in the beginning, we want you to know exactly what's going on.
0:
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8:04And then we'll have committees and the committees who have discussions. All of that stuff will be public. You can tune in on any of those things.
0:
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8:11But, like I said, you got to participate in the votes. Pretty pleased with sugar on top when you got to demonstrate active participation.
0:
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8:18That's the easiest and fastest way for you to do so. So please participate in all of the votes. It is expected and required of you.
0:
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8:27Okay, so failure to meet that stuff means that we might terminate your membership, subject to due process. Membership and associated seats are non-transferible except without written approval, that the Metcalfs Law reminding like coin doge to cover our core electric expenses.
0:
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8:46The strategy intentionally frees up the majority of our net revenues for promotion, marketing, member rewards as provided. We're missing a period there.
0:
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8:55We're going to have to have a vote. Who would like to see us add a period at the end of the sentence?
0:
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9:02Okay. Not making fun. Just having fun. Okay, so members who actively promote IDMC may earn additional mining hash power beyond their initial capital contribution is determined and approved by the referral and affiliate compensation committee.
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9:15Each additional seats earn shall increase your Your voting power, the creation proportion, share of daily patronage distributions, and be recorded in our documentation.
0:
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9:25Really important as well guys, this is telling you that if you get more seats, you get more votes. 250 or so of you have signed off on understanding that that's how it works inside of our system.
0:
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9:37Very important that we all understand that. How do you get more seats by participating in the referral program that we've set out?
0:
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9:45specific terms of the affiliate referral program, including verification methods. That's one of the things I mentioned just a few moments ago.
0:
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9:53Like, are you gonna have to keep the log of every time you mention while out walking the dog? Like, no, but we are gonna require you to demonstrate that you're actively working if you are able to continue to get the benefits from the compensation program.
0:
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0:12What does that mean? If you guys remember back in the day, we set up this commission potential, it became cash, it was cash potential, the commission potential, and then it applied to everybody.
0:
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0:24That's what we're talking about. That's one of the things that's saving us from getting in some hot water. Really good.
0:
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0:30Now, a lot of people didn't like that, and I understand it. So in order to help us, okay, we'll hold them.
0:
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0:38So the way that people got past that limitation was by becoming what we called a Texas Ranger. And it's like a ranger didn't have cash or commission potential, but it was expected the ranger is doing much more to stay actively involved.
0:
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0:51We asked rangers for a weekly report. We didn't get it very often. And so you can definitely expect that going forward, if you're expecting to participate in the referral program that you're going to need to keep a log so that we can verify that you've been actively participating and not just sitting
0:
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1:12back looking for passive income making money off the effort of other people. So that will be established and maintained by the Board of Administrators maybe updated from time to time as we grow.
0:
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1:24Any material changes to the program should be promptly communicated to all members and remain consistent with the 49% budget cap.
0:
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1:31Okay governance and decision making. The General Assembly members how shall be the highest governing body of the IDMC. That's you guys, that's all of you.
0:
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1:40All major decisions affect in the IDMC regarding authority, not granted to the Board of Administrators shall ultimately rest with the members voting in according with their seats.
0:
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1:48Okay, well hold on, what kind of authority does the Board of Administrators have? A lot, a lot of authority. The Board of Administrators shall, where is it here?
0:
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2:00The day-to-day management and oversight of IDMC shall be delegated to the Board of Administrators consisting of seven members elected by the General Assembly.
0:
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2:09Okay, let's take a moment and go through this whole section real quick because it's going to T.S. up for the next part.
0:
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2:16Voting at all membership meetings and all membership matters submitted to the members shall be on the basis of one vote perceived help.
0:
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2:24Proxy voting should be allowed only as expressly permitted by the Board of Administrators. An annual general meeting shall take place, special general meetings may be called by the board or by petition signed by members holding at least 25 percent of the total seats.
0:
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2:37The day-to-day management, we just talked about that. The Board of Administrators shall serve two year terms and may be reelected.
0:
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2:44Elections shall be conducted at the general meeting using one-seat one-vote system. The Board shall have the authority to manage operations, finance, mining activities, appoint officers, president, secretary, treasury, established policies and procedures consistent with the Constitution, oversee compliance
0:
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3:01with all legal and regulatory requirements. The IDMC shall also establish. Okay, so let's pause there for a moment. Does anyone have any question about governance and decision making?
0:
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3:15And we have a discussion about that for a moment as I get a poll set up before us here. Do I have a poll?
0:
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3:24Where's my polling? God, like 107 votes already, Bobby. 107. Where are the Constitution, if you look at on the results on your tab, you're sharing right now.
0:
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3:39So I don't know where you're looking at. I'm looking at my little screen, but bottom. You actually You're not looking at the voting portal, no problem.
0:
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3:49I'm looking at it. You want to share your screen there Jim? Are you able to share your screen happy to do it?
0:
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3:55I might have to make you a second. Make you a host. No, I don't want to make you a host.
0:
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4:00I want to make you a co-host. How do I make you a co-host? There we go. Oh, give us give us a quick tour of what we're looking at here.
0:
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4:08We've got on this particular proposal for the Constitution approval. We have 111 affirmative votes right now of 246 people. So we have a 45% participation.
0:
5
4:19209 people on this call tonight. So it's kind of pretty exciting. So so help me understand. And what happened earlier, because I thought we had 250-plus people respond to the email that was sent out with the forms and all that stuff for the community.
0:
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4:43Yeah, we have 245 people who basically signed the membership agreement, which gave them access to the portal here, and of those 209 people have come to the portal to participate in this meeting tonight.
0:
5
4:58And now 115 votes and are all eligible to vote. And as you've been talking, they have been voting. More votes have been coming in.
0:
5
5:09Okay. So look, I thought I was going to have a button here on my screen to do a poll, like I normally do post tools, lock meeting, enable waiting room, and banced share captions, dodge whiteboard apps, where's my polls.
0:
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5:25I have my polls. Did anyone you know where my polls went? I think it's because we're not we're not using the webinar feature for this call.
0:
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5:34Yeah. Welcome to your future, Bobby. And they're also hoping that Jim can show some of them how to vote real quick, because there's quite a few people that are having trouble.
0:
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5:46So guys, if we just go into the proposal right here, and then at that point you're reading the proposal and you're going to click into reading the Constitution document right here and when you do that and you scroll to the bottom it will confirm that you have read and understood the Constitution and
0:
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6:07then once you click that you have done that it will then release you to be able to place your vote and then you can place your vote and will be recorded.
0:
5
6:17It actually asked you to say yes to the review before you can. That's correct. To review the Constitution that you've basically read and understood it and that you're clicking that and then it releases you to place your vote.
0:
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6:33And at this point as we looked at 124 people have done that already. All right. Well, I'm a little bummed out because I thought I was going to have a pull here.
0:
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6:49Let's do a hand raise pull. I think it should be pretty straightforward, but maybe I should make no assumptions since I'm not in charge anymore.
0:
5
7:00Okay. So let's get me to be in charge here real quick. So, as we just talked about a moment ago, the governance-highest body is the general assembly.
0:
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7:14That is, okay, so how many people at this point have signed off on the, I guess, the governing principles? Don't put your hands up yet.
0:
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7:26Not yet. We're not voting yet. What's your hands back now? So there's 125 from when Jim just shared a screen, Bobby, there's about 125 that it's signed off on the governing principles.
0:
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7:40Correct. Okay. Got it. 120. All right. So here's the next vote. And Jim, I don't know. Maybe you can do it real time in the back office.
0:
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7:51Maybe people are logged in and they can do it real time in the back office. Well, they're able to do it right here from what we're watching right now.
0:
5
8:07They're in the governance portal logged into the governance portal. When they click the zoom link, it gave them the zoom link, but they also are logged into the governance portal.
0:
5
8:17So all they have to do in the governance portal is to Jim, he's wanting to know if in real time we can add something in there to be voted on.
0:
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8:28We would have to create a brand new proposal for something. You could do that real quick if you want, Jim .
0:
5
8:35There we go. Way to go Abraham. So, as he's looking into that, basically, we're going to run through a bunch of things here real quick.
0:
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8:46I think because the size of our community right now is still reasonably small, 205 people in the call and 116 or so that have signed off on the government principles, we should be able to get a majority immediately.
0:
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8:59We might have to go back and double check to see if we've gotten a majority, but we will deal with that after the fact just to dot our eyes and cross our teeth and make sure that we did it right.
0:
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9:12point of inquiry. Point of inquiry is, I don't know, Robert's rules, but go ahead there, point of inquiry. Floor here's Eddie Allen.
0:
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9:20Are we looking, are we looking for a simple majority or a two-thirds majority or what's our, what's our, our baseline for a majority?
0:
5
9:28What are we measuring a majority by simple one vote? Simple majority than less. Okay. Simple majority, but it's tough because we're voting seats now.
0:
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9:37We're not voting. We're not voting individuals. Hey, Bobby, on this particular vote, it is a one vote, one member vote, not a one member, her seat vote.
0:
5
9:50So this first vote is a one member, one vote. So we have actually reached a majority of the members who have signed the membership agreement.
1:
0
0:01and that's not quite accurate, Jim, and I'm not going to correct you if I don't have to. But the point is that what we need is 100 affirmative members to start.
1:
0
0:19As soon as the organization begins, we click over to governing principles as our authority. So once 100 people said, yeah, I'm in, then it's no longer one member, one vote.
1:
0
0:32Right, 100%, but right now what we have, and I want to make sure I'm understanding where you're saying, what we have right now is 100 and some members, I'm not looking at that screen right now, 140 now, 140 members have voted for the Constitution at this point.
1:
0
0:51Yeah, so again, once 100 people say yes, the Constitution, and that's one member, one vote, then the Constitution takes over.
1:
0
1:02So now we're voting seats. So look, guys, we'll get this procedural stuff worked out as we move forward. So we're going to fumble through it a little bit.
1:
0
1:11And I don't want to drag this out any longer than it has to be, but there's a couple of things we do need to cover tonight.
1:
0
1:16So let's get those things covered and then we can, like I said, dot our eyes cross our teeth, fix it if we got it wrong, but I don't think we will, and then move forward with a better system that has live polling in the future that takes voting percentages into consideration.
1:
0
1:36Okay. The folks that don't don't understand that they can alt tab on their keyboard and toggle between the portal. So people might be looking for that link on the zoom file, but if you have to alt, hit the alt key in the tab key and you can toggle between the two pages where they need a vote.
1:
0
1:57Yeah, thanks for that tidbit there. All right, so here's an answer to Eddie's question. There are only a couple of things that require super majority was 75% and amendment shall be, shall require 75% of the total seats voting.
1:
0
2:13So this is an interesting thing because it's 75%, but it's not of everyone, it's just of the participants. So each meeting is going to require, each voting meeting is going to require a calculation of how many people and how many votes they have among those people.
1:
0
2:31So that it's understandable how many votes are needed to pass whatever measures before the body. Okay, got it. Yeah, and then the IDMC may be dissolved only by a vote of at least 75% of the total seats.
1:
0
2:45So if you guys want to shut this thing down, 75% of the total seats need to vote in favor of that.
1:
0
2:52So everything else is simple majority, and again, if you want to change it, there's a procedure in this document to change it.
1:
0
3:03This is just to get us started. Okay, so let's move on. Governance and decision making requires you guys to first and foremost elect a group of seven members to the General Assembly or to the Board of Administrators.
1:
0
3:22So let's pause for a second and talk about that, oh, I'm not sharing my screen. As we talked about here in the governance decision making, day-to-day management and oversight of the IDMC shall be delegated to a Board of Administrators consisting of seven members elected by the General Assembly.
1:
0
3:38Okay. So, let's pause there for a moment and talk about the election of administrators and who they are. And I sent a message out to my proposed choices for those guys a few minutes ago.
1:
0
3:51And I said, be ready to sell yourself here because you got to convince the general assembly that you're the men for the job.
1:
0
3:57And sorry, ladies. We don't have any ladies on the board just yet. We've got to fix that at some point.
1:
0
4:03Okay. So I'm going to run through my selection real quick for the board of administrators. We'll open it up for a few minutes of them telling you a little bit about themselves if you don't already know it and some discussion, questions, whatever and then we're going to put it to a vote.
1:
0
4:21We can go through it individually if we have to but I propose okay so this group just to kind of give you a little background on it and the old days we had the Rangers and the beginning club of what we called Bobby's Besties was is upgraded to a Lone Star Ranger.
1:
0
4:43And a Lone Star Ranger, we had three of them back in the very beginning, Jay Horton, Chris Beck and Johnny Bostic were my three Lone Star Rangers.
1:
0
4:51We added another handful of people to the Lone Star Ranger community. We said goodbye to Chris Beck. We've since said goodbye to Rob Reynolds, both of those gentlemen, I think are on this call, Chris.
1:
0
5:03I saw you out there earlier. I don't know if Rob's out there. Rob, you out there. Robbie Ruiz out there.
1:
0
5:08He's there present. How are you president? So look these guys are still Bobby's besties, but they're not part of the Lone Star Rangers anymore That doesn't mean I don't love them.
1:
0
5:20It's just because the Lone Star Rangers got a thousand dollars per week You know for duties and responsibilities over and above, you know What was expected of a normal Ranger or a normal member or minor or whatever and so that's what this group started as and then we brought over that same concept to
1:
0
5:44the Board of Administrators. So I would like to propose Thomas Dubois. I'd like to propose Mitchell Tucker. These are in no particular order gentlemen.
1:
0
5:55Gage Blake, Tim Blake, Jay Horton, Eddie Allen, and myself as your seven board of administrators folks. So I don't know if anyone's ready, but Eddie, I heard you out there a minute ago.
1:
0
6:12You want to give us a 30-second overview on kind of who you are, why you are qualified to serve on the board of administrators, and then kind of like just quick history and background.
1:
0
6:28And the reason for that is because you know this group is made up of people that I feel are deeply committed.
1:
0
6:36You choose your metaphor. These are guys that burn the boats. These are guys that cross the line went all in, bet the farm.
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6:46You know, these are guys that have a serious level of commitment to the success of our project. We've been battle tested and we've come out, you know, maybe a little bit bloodied and scarred on the other side, but alive and committed and so like I said guys if you could just each take 30 45 60 seconds
1:
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7:05and give us a quick intro who you are I'm sure most of these the people most of our members know who you are already but just we're recording give us give us a quick intro and let's put it to a vote Eddie go ahead sure yeah I'm happy to be first up I've been I've been working with Bobby for Well, I guess
1:
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7:26we started working together about 15 years ago. We, we come from the old school of thought, we were, we were in the trenches fighting the fight for honest money back in the day and we've done it in a couple, you know, in a prior iteration, it was a, it was a little bit more challenging and today I think
1:
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7:47we've hit on the right formula so I think we're, you know, we've got a lot of experience under our belts and I think we're more than equipped to manage the duties set forth for us that we've gotten into, that we're particularly- A notable thing for Eddie that he didn't mention yet.
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8:08Eddie co-wrote the congressional testimony that I delivered August 2, 2012. Eddie and I actually met when he was running a committee at the Austin Campaign for Liberty, Ron Paul Event in 2009.
1:
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8:25And so that's 17 years ago, Mr. Allen. And Eddie has been the man when it came to all things First Nations.
1:
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8:36I'm just going to drop that out there a little hint. We haven't talked a lot about some stuff. But if you go through some of our old stuff, you'll see how important the work is that Eddie and I did together in the realm of First Nation.
1:
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8:50So I'd be honored to have Eddie serve on our Board of Administrators. Jay, what are you going to leave it?
1:
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8:57I'm going to leave it at that. Thanks. Thank you, Eddie. Hello, everybody. Most of you know who I am. If you don't know me already, ask your upline ranger.
1:
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9:06I've probably talked to him at one time or another. I was the 20th got a sign up in TEXITCoin. With Bobby and Eddie's help, we built a group of about 70% of all the TEXITCoin.
1:
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9:20I've just been fully committed since the day I found out what this thing was. I actually didn't even know there was a comp plan until I started getting bonuses.
1:
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9:30I just was telling people because I thought it was the coolest thing ever. I'm honored to even be included in this group and appreciate the nomination.
1:
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9:39Excellent. Thanks, Jay. Tim, there's any words to describe Tim, but tell us about Tim. Hey guys, Tim Blake here. So I've had a pleasure meeting most of you on the call.
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9:51If I haven't, look forward to doing that in the future. You know, it is a privilege to be a part of TEXITCoin and Iskander.
1:
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9:59I would have to say, you know, when you look at leaders leaders in leadership and anything. One of the things that we've always talked about is this project has strong leadership and one of the things that I feel that I bring to the table is my commitment and dedication to the project.
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0:16I left a career of 24 years to do this full time. I had a chance early on when I first started to go and meet with Bobby about every Thursday and have coffee with him and sitting close to him and you know hearing his vision and his passion really rubbed off on me and it's something that I see that I
1:
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0:39wanted to be a part of from day one and I really feel that that's something that I can continue to bring across the finish line.
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0:47Whatever that looks like, I have the ability to wear many hats and do present and different arenas, and I'm just looking forward to furthering our mission.
1:
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0:59Excellent. Thanks, Tim. Gage, tell us a little bit about you and the official baby of TEXITCoin and your participation on the Board of Administrators.
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1:11Yeah, so for all of you that don't know, I got in the project very, very early in May of 2024, 24 end of May, 2024.
1:
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1:20I met Bobby. And last year, we had Baby Benjamin, which is the official baby of TEXITCoin, and he's coming out on the roadshow tour.
1:
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1:31Here next, you know, start next week, so that's pretty exciting. But no, I have a deep knowledge of crypto and, you know, Bobby's mission of honest money has really hit home, you know, with me and I've been very committed to the project, venting the farms, probably an understatement.
1:
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1:48I've tried to double my holdings of TXC lately, which has been pretty challenging, but that's fun. But yeah, going forward, I have a lot of ability to help people grow this community, continue to grow this community.
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2:07My past experience in sales, master deal maker, You know, been able to put things together and multiple different things, multiple different areas.
1:
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2:19And so, you know, moving forward with his candor and TEXITCoin both, you know, I'm going to be able to help everybody, each and every one of you, you know, get the ball rolling and get this engine started again, you know, as we kick off this road show tour.
1:
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2:37Excellent. Gage, thank you. Thomas, tell us a little bit about you because you're new to the list of Bobby's besties.
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2:45The new guy on the block, it's been about two weeks now guys that I got a phone call from Bobby and was very, very honored and Mitchell and all of the guys that you've heard from.
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2:57I feel that I'm less qualified than many, but I am a grandpa and I am a father and I want a great future for those children and grandchildren.
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3:10As I move forward, I'm a multiple business owner. I own a dogrooming shop in Aspen and I've built teams of people for the last 30 years.
1:
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3:18In building teams of people, I've fallen in love with my community and I love to play pop-a-bear and I also love to play mom-a-bear, love up on them and love up on them as much as I can and protect them every step of the way.
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3:32And I kept consistent to the best of my ability during these last few months, and I've worked really, really hard for this last year.
1:
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3:44I can just say this, this came in my life, and I know I'm going to get touch emotional, but this came in my life at the right time.
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3:52It's cryptocurrency, and this industry has been a part of my life for a long time. It's continuing to bless my life and I want to stand up for it and stand up and help the community to solve whatever problems and be solution oriented moving into the future.
1:
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4:12Absolutely love it. Thanks Thomas. Mitchell. All right, last and certainly not least and I'll tell you why in just a few moments.
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4:20Tell us about Mitchell. Well, thank you so much. It's an honor to be in the circle of such incredible leaders and gentlemen a little bit about myself 13 years long for some experience the last couple of years I worked under cover narcotics got out of law enforcement in 2017 and went to the private sector
1:
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4:40and did private security for high net worth individuals and corporations and different things was able to scale that business to about 60 officers.
1:
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4:51I got involved in a TEXITCoin in February was able to grow a team of close to 30,000 people and TEXITCoin.
1:
1
4:59And that's when I stepped away from the security firm. It's family-owned, so my brother and my mom have taken over the security firm and I've stepped away and gone full time with TEXITCoin.
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5:09I've had a lot of success over the years building massive teams and affiliate marketing in that space, MLM network marketing, something I enjoyed because I like working with people.
1:
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5:18But I'm more interested in telling you why I'm here, not so much what I've done but why I'm year. When I first heard about TEXITCoin, I kind of threw it in the bucket with crypto crap, right?
1:
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5:30There's a lot of crypto crap out there. And I said, not interested. And I think Monk was on the call today.
1:
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5:35He's the one to call me about it. Not really interested. But I was doing my due diligence and I come across this YouTube video of this guy, Robert Gray, testifying in front of Congress, and what had to be an extremely stressful situation.
1:
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5:50I mean, Bobby takes that kind of thing pretty lightly but that's got to be a high pressure situation. And I watched him look them in the eyes and tell him the importance of honest money and how government needs to keep their hands off our money and how when government really digs in and puts their hands
1:
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6:06on things they tend to mess it up. And I said, I don't know what this guy's talking about. I don't know anything about this text-to-point thing, but I'm following that guy.
1:
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6:15I align so much of honest money that I went all in. And so I don't have all the answers. But I do know I want to be a small part of the solution for honest money.
1:
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6:28I'm willing to work my butt off. I'm excited to be here and take this to the next level. Thank you.
1:
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6:34Thank you very much. We're going to come back to you in a few moments I think. But that's my proposed list of board of administrators.
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6:44Does anyone want to grab the floor and speak against this list or anyone on that list in particular? No pressure.
1:
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6:53But it's kind of one of those speak now or forever hold your pieces things because that is the first thing that I need the general assembly to vote on.
1:
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7:02Now again, we don't have of a perfect flawless weighted voting system in place because we are voting seats at this point now and this is is candor seats.
1:
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7:12Do you need a second? We're voting seats at this point, but my guess is that if I ask you to approve this list of administrators in full, most of you will vote yes.
1:
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7:26So I would like for you to take, I'll give you another 15, 20 seconds for any questions for this community, for the proposed Board of Administrators.
1:
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7:35Does anyone have any specific questions for anybody specifically on the Board of Administrators? Let's make it happen. Okay, I would like the General Assembly to take a moment and vote.
1:
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7:49I'll settle for a hand up. I will settle for if Jim, you've got something together on your end. I'm putting together a proposal that everybody could actually vote on but yeah hands up right now is great.
1:
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8:03Yeah, we'll go for an eyes and nays thing at the moment and then we would like to follow it up with a more formal process so that it's documented properly and we can record that for all posterity but please, please, please take a moment and put a hand up just so we know we can move forward.
1:
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8:26I'm seeing. Yes, I do have a question. Are we going to be adopting Robert's rules of order in these meetings in general?
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8:34You know, man, it's probably a good idea. I don't know anything about Robert's rules of order. I know that Eddie knows a little bit about it because that's how we met.
1:
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8:45But I think the answer is probably yes, but it's not officially, yes, just yet. I can touch on that if you'd like.
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8:56I would recommend that we have a motion at some point in a meeting in the future to assign somebody that's interested, that's familiar with the Parliamentary procedure to be the parliamentarian for the board.
1:
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9:10So that would be another unofficial position that could be assigned. Guys, I'm waiting for some more votes to come in, some more hands to come up here.
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9:21Eddie, you haven't even voted for yourself. What's that about? Well, I didn't think we were voting for ourselves. We're part of the people that are being run.
1:
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9:29Hold on, I need to vote as well. Where's my hand up? I think there's enough votes. Aren't there enough people to vote for crying out loud?
1:
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9:35Eddie is still undecided on himself. He's like, yeah, I don't know. Bobby told me to do it, but if I could figure out how to put a hand up by wood, I'm on the fence I'm on the fence with this Eddie guy if you're not familiar with how to vote guys if you go down to the middle of your screen You'll see
1:
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9:54a heart and this is react if you click that It will pop up in another box and you can there's a button there says raise hand And also Inside your governance portal guys.
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0:06There's another proposal there for the vote of the board of directors And you can also vote there We would appreciate if you would vote there as well Yeah, please do, guys.
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0:16Look, we're doing this not for fun. We're not doing this to pretend it is, this is a real thing. And so, you know, like we said, we need real participation out of you guys so that, you know, when the regulators look, as they will, at some point, they see that we're doing it by the book, according to
1:
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0:34the law, and that's an important thing. So please take a moment and participate in that. And you're probably going to get text message warnings and reminders and stuff if you don't.
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0:44Okay. We've showed up half way. Can you repeat where that where that vote is in the portal? I'm sorry. Sure.
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0:53In your governance portal at voting.dot is candornetwork.com. How you got to this meeting. There is a new proposal that has been put in there that is called approval of board of directors.
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1:04And you'll need to refresh probably. I had to. Correct. Exactly. Yeah. You're still on the page. you need to refresh and then it pops up there.
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1:12Yay, so I'm looking for proposals. I'm in this menu. Portal is Kinder website, Builders Only, Builder, Resource.
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1:25Good Lord. All right, so a quick question. About half of us have voted. on my screen is showing 84 and so the question is for the people who have not voted are you not voting because you are dissenting or you not voting because you are not sure how to do it.
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1:47Yeah, it may simply be that they don't know where to vote because I can't find where to vote in the portal.
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1:52I'm not sure what I'm looking for. I don't think you're on the portal. I think you're on the website. You need to go on this candor network.
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1:59Okay, so voting dot is going to be a voting dot is candor network dot com. I'm sure in my screen guys, so you can see voting dot is candor network dot com.
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2:09Well, if Eddie can't figure it out, he shouldn't be just kidding. Too right. It's totally right. Voting is candor network dot com.
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2:18You can see it. Go to your portal right here. You can see the dashboard and you'll see the new recent proposals.
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2:25You and then from there you can place your vote. It also came in the text message that has been sent multiple times.
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2:35Thank you for that. Well, there's a text message too. Oh yeah, the text message, okay. You're really helping yourself, everybody.
1:
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2:44Good grief, man. You know, it's not enough that we have telegram in the 150 channels. Now we've had another, All right, guys, let's keep moving on.
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2:53And like I said, this is an informal process right now. We'll have it set up so that it's real time.
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2:59You can see it. You'd have to do it with blockchain and it's weighted. So you can put your hands back down now.
1:
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3:04Thank you very much for participating in that. We got 82 out of 192 to actually put a hand up here, which is extremely informal.
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3:20But I'm looking at the people with hands up and they do have big chunks of hash power and so I'm guessing that we're over 51% of the participants, but again we'll do the math on that and we'll publish a report so you guys have it.
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3:35We got an important follow-up question there and can I put everyone's hands down? I'll be back. Man, I don't have nearly as many good tools as I had in my webinar format.
1:
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3:49In the email and mute survey. Okay. All right. So there's a follow-up question to that. I mentioned to you guys a moment ago that the Lone Star Rangers back in the day received a thousand dollar a week compensation.
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4:00Any good board of administrators has compensation for the board and the duties that they have to, you have to discharge and so I'm going to propose a thousand dollar per week compensation for the Board of Administrators and see if I can get some hands going up if you are in favor of that as well.
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4:27So Jim, that'll be the second question to put into that back office as well. And again, once we get to 51%, it flies.
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4:36And so let's let's have that informally here and then Jim will set up a formal question in the voting section and then we'll tally it up based on seats because again, that's the governing thing now.
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4:56Just a point of inquiry. Do we just can't even have a separate budget or is it just a budget overall with the the tax of budget kind of incorporating in it?
1:
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5:08I am not sure who's asking. Is that a begin? Yeah, sorry. Sorry. Yeah, no, I've been in a cooperative. I've been the chairman of the board for about 12 years.
1:
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5:19and this is a great format. So I was just asking if there is a formal budget for it's candor in general that we.
1:
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5:28There is an Apes jumping ahead. We'll get there in a question or two. Right. But Eddie, it sounds like we've got our parliamentarian.
1:
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5:37I think you might be right. Okay, so guys, again, another informal question there. We've got a lot of hands going up that are approving $1,000 a week continuation of what was known as Bobby's Besties and then became the Lone Star Rangers and is now the Board of Administrators for Iskander.
1:
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5:57So that is official now at this point guys. Again we'll double check our math and make sure the waiting is accurate but myself Eddie, Jay, Tim, Gage, Mitchell and and Thomas are the official recognized Board of Administrators for the IDMC.
1:
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6:20So congratulations, gentlemen, great job, very glad to have you. And again, we need some ladies at some point. We need some lady leadership to step up and join us.
1:
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6:30Okay, one more thing. I'm going to put it out to the general assembly. I'm, you know, again, I'm not sure exactly How specific we need to get with some of these things, but as we're getting started here, let's keep going with the format.
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6:45We have now everyone. Please put your hands back down. Question number three is going to be, so one was the election of the administrators, two was the approval of the administrator comp, and then three is election of the chairman of the board.
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7:03Does anyone have any nominations? Ravi Gray, Ravi Gray. Ravi Gray, I'd like to nominate you, Ravi. Ravi Gray I'd like to Ravi Gray, I'd like to nominate you, Ravi Gray.
1:
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7:20So let me speak as the proposed nomination. Are there any other chairman's of the group of seven?
1:
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7:31Is there anybody that you feel like would do a better job than me? as chairman of the. No, no, no, no, no, no, no, no, you're better not be.
1:
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7:41I'm a famous leader. Technically, this is recording. Okay, so let me speak to that real quick. I have said a lot of times that I'm not a fan of MLM, I'm not a fan of this, I'm not a fan of that, and I've done it.
1:
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7:53Just about everything I could kill, mind TXC, I want to set the record straight very quickly and tell you guys that I love, I absolutely love what we put together.
1:
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8:05Now I started it, I did it based on some things that I learned over the years, but you can rest assured that I would be absolutely proud and honored to be chairman of this board and represent this community, the Iskander Digital Mining Cooperative, our outreach strategy of, you know, something that still
1:
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8:31is network marketing-ish or at least could be. I want to tell you guys that I love this and I will henceforth stop talking trash on this beautiful thing that we have put together as chairman of the board.
1:
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8:50That's my commitment to you. I'm going to rely on my team to do most of the leg work so that I can focus on the other things that I told you are a priority for me in representing us.
1:
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9:02The crypto community is really the broad goal as you know I let go of the reins here and hand it off to a very qualified team of people.
1:
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9:14But I will continue to hold the work that we did to get us to where we are now. This board of administrators, the general assembly of people that are committing to stay actively involved and promoting us ethically and honestly out there in the marketplace, committing to helping us grow.
1:
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9:32I'll keep you guys in my heart as the engine that is driving this entire thing, whether it's the rocket ship or the train, metaphor, not sure, but you guys are the engine that is driving our success.
1:
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9:49And as the Chairman of the Board, I will represent the IDMC extremely well to mainstream crypto, which is where I'll be spending the majority of my time as our ambassador to win over more friends and convince mainstream crypto that the energy, the excitement, the passion that got crypto to where it is
1:
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0:12today is alive and well in the IDMC. And I'd like to call that to a vote, I'm going to call it to the General Assembly, and a special, you know, nudge to the Board of Administrators to choose me if you like, as your chairman.
1:
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0:32For Robert J. Rules, you can also request, are there any, if there are no objections here, if there are any, are there any objections to- Are there any objections?
1:
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0:43but I'm not chosen as the board. The days of graduating are over. Guys, if you got a question, let's ask it.
1:
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0:57No objections? No objections? Here and no. Here and no. It passes. It will be great as your new chairman of the board.
1:
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1:05I mean, you're continuing chairman of the board. Congratulations, Bobby Gray. Thank you very much. Okay the next thing on my list and we're running a tight on time here guys we're starting to have some people drop off.
1:
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1:21The next thing on my list is to ask you guys if we are missing any specific committees. Right now we've got what is it seven committees identified?
1:
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1:35One, two, three, four, five, We got mining operations committee, finance and budget committee, technology and integrations committee, marketing and promotion committee, referral and affiliate comp committee, membership committee, compliance and risk committee.
1:
3
1:51Are we missing any committees to get the party started? We can add more later, the Board of Administrators is able to add more committees, but is there anything else that we need to add to that list?
1:
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2:04I'm wondering if we should have a customer service committee, because that's one of the issues we've had over the last two years is we don't always have real solid customer service.
1:
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2:17Yeah, good idea. My thought there is to expand the scope of the membership committee to include customer service. Okay. So we can rename, we can rename F to membership and customer service committee.
1:
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2:33There's a by-laws committee. Okay. All right, so I'm not sure about all that. Okay, everybody can put your hands back down.
1:
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2:49Good game, Joe. You did good. Please mute your mic if you're going to yell at people. You know, it sells out.
1:
3
2:58We're cheering as well. Bart up. I can't mute people because we got too many hands up. But now I can mute.
1:
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3:06Okay. Okay, so let's put a pause on that for additional committees. We'll get a question put out to the community on other committees and the modification of existing committees to include a better scope for those things.
1:
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3:25Bobby, can you share that list of of them again for me, please? You know, Cory put together a really nice graphic.
1:
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3:35Was that you, Cory? Was that somebody else? Yeah, I can pop it in the the hub. Yeah, pop it in somewhere so that we can see what the committees are and then we've got committee chairs for each one of those committees.
1:
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3:52Same thing there guys, we're starting to get into some nitty gritty stuff and I don't think it requires full general assembly vote but let's get those things into the back office as well Jim we'll talk about that so that you guys can take a look at what those committees are and who's going to share the
1:
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4:11committee. initially? Yeah, there could be a viola committee and a marketing committee and a nomination as committee. Okay, let's do some more research on those things.
1:
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4:23Look, I'm in over my head at this point for the Robert Rural stuff. I'll brush up on it as we move forward as the chairman.
1:
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4:31But let's double check that. Okay, so the last couple of things that I want to cover on tonight's call, really there are a couple things.
1:
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4:41Number one is a budget, and I'm going to share my screen with you guys and show you the proposed budget.
1:
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4:51Talk about it real quick. This list is our current salary, weekly salary, and burn rate. So, at the height of our organization, our weekly salary at TEXITCoin, et cetera, was $220,000 with all the things that have happened over the last couple of months.
1:
3
5:12We've cut that down now to a total of $87,000 per week. And what we now have here is, I've divided the salary into Iskander and TEXITCoin.
1:
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5:30And so, the budget that Iskander is proposed to be responsible for is $50,863. And I want to talk about what that is real quick because there's a couple of things on here.
1:
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5:47First of all, we've already approved the board of administrators and the comp for those guys. But the second thing that's on the The budget, as you can see, is the election of Mitchell Tucker as the president of the IDMC with a $5,000 weekly compensation package.
1:
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6:11And so I'm going to put it out to the General Assembly because it's obviously a big line item and it's a big role.
1:
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6:19But I would like to propose to the Board of Administrators that we elect Mitchell as the president of the IDMC and we compensate Mitchell for his work with an additional $5,000 of weekly comp.
1:
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6:35Board of administrators, any thoughts, comments, questions, suggestions, feedback? He's the man. He is the man. Yeah. He's the perfect candidate for the job.
1:
3
6:47For sure. Absolutely. I think it cost that much It's just to maintain the beard. These promises, as long as he promises to buy us the shot of whiskey every time we see him.
1:
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6:58So the amendment to the motion for buying a shot, we're gonna table that for discussion and committee later. I got a lot of hands going up.
1:
3
7:11Thank you very much, everyone. Mitchell, you got my vote for sure. In fact, I probably think I had to talk you into it, and thank you for accepting that I know that you're going to do a great job.
1:
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7:26One of Mitchell's questions and concerns was like, am I responsible for everything, like weekly payroll and all that stuff, and we said, no, no, no, you're responsible for, you know, being the face of this thing.
1:
3
7:39I talked about this a couple of weeks ago in our call. I can't be the face of the IDMC. I've got to go out there to the crypto community, win over friends there, acknowledge IDMC and public and tell the world that I love you guys and what you're doing and the way you're doing it.
1:
3
7:55But I can't be the guy that runs the Tuesday night call. And that's going to be our friend Mitchell and he's got with my help, a great call set up for whatever his next call is on schedule.
1:
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8:06And so Mitchell, I am pretty sure at this point I got a lot of votes. I got more hands going up for Mitchell, then I got for anything else so far.
1:
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8:17Well, it's not true. 3942. Okay, so let's consider that to pass. Again, guys, we're putting a lot of stuff in front of the General Assembly.
1:
3
8:25I'm pretty sure that the Board of Administrators has the authority to make this decision, but I'm trying to give you guys more insight than you've ever had before.
1:
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8:35Thank you for passing that. that the second thing on there is the proposal of gauge then as our vice president sails.
1:
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8:45And so gauge any thoughts, comments, suggestions on that? Do you accept responsibility? I do accept responsibilities and appreciate the nomination.
1:
3
8:58And I'm looking forward to working with Mitchell. We worked good together. And, you know, I think this is going to be exciting journey.
1:
3
9:06Okay. Finance. We've got Mary Ann in Finance now. We've got Lauren Tray, Mani, Raina Samantha and Jennifer in enrollment and customer service.
1:
3
9:18Solid team of people that is, you know, left over from what we had before. Paired down quite a bit. Tech in development.
1:
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9:25This is an interesting thing. Zach is great. He's been overseeing kind of the technical side of the mind development on the mind team right now.
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9:33We've got Kyle, Steve Walsh, Alex and Jim. Jim, I might need to move you over to the creative there. I'm not sure how you ended up in the mining section there.
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9:45But we'll work on that. Kristen for events and promotion and then Corey Lonnie, Whit and our Filipino, Filipino assistant and team on the creative side.
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9:55Now, this is some of these people, some of these things are split because they spend some other time on TEXITCoin and some other time on Iskander.
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0:05So, you might see part of their compensation here and the other half of it or the other part of it might be on the TEXITCoin side.
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0:13And so, what I'm proposing, are there any questions first of all about this list or this budget of $50,863. This is a weekly compensation.
1:
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0:27Okay, let's get some quick hands to go up to approve our weekly budget. As you may recall from the Constitution, a couple of things.
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0:48First of all, the overhead budget is the next 10% of our revenue. So the board shall present an annual overhead budget for approval by the members.
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1:00So there you go. there. So we do need to get this one officially approved Jim. Actually overhead spending shall not exceed the approved budget.
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1:08So the approved budget, the budget consideration is 10% of revenue and the $50,863 or whatever it is per week. Now I do expect us to need to add more people and customer service as we grow, and we also have a missing line item here for secretary.
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1:32And so we're expecting to have somebody that's in charge of tuning in to all of these meetings, recording the meeting notes, and then sending out a follow-up email to all the members to get votes for things that we put in front of the General Assembly.
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1:50And record that and then distribute the outcome of those things. So this budget at $58.63 is our weekly overhead. Again, it is about two thirds of the total overhead that I cover every week, that's covered every week.
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2:07And now we're shifting over $50,863 of that to the escender budget. I think that it has improved, but again, I think we're gonna need to get a formal vote to the members for that one as well.
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2:19Bobbi, do we know how much money we already have to deal with? It's kind of hard to approve stuff, not knowing where the finances are currently, and are we going to have enough signups to cover these things?
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2:34What happens in the event? Signups don't come in as expected. Will we have to vote to lower that compensation? Well, we've got some serious issues to deal with that we don't have fully dealt with yet.
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2:52And the serious issues are most of the cash that came in is locked up in a bank account. And so we don't have access to really much of that money at all.
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3:06some came in with USDC, we spent a bunch of money on things that we thought were going to be useful for, for Iskander that may not be useful.
1:
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3:16And so the only thing that we're putting on the books right now is this weekly expenditure. And we've got $6.5 million of sales, but the other challenge is that about 4.5 million of that came in through TEXITCoin.
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3:32And so, there was a lot of incentive for people to use TXC as their is candor buy and obviously because, you know, they're moving from one project to the next.
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3:41There was a dollar value that was put on it back in the day, but 4.5 over 6.5 is almost 70% of all the cash that came in is, you know, largely unusable today.
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3:56One, because the price is way down to because we don't want to have to monetize TXC on the open market, that'll push the price of TXC down so that we can fulfill the budgetory obligations for a scanner.
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4:13So that's kind of a big open loose end. We got to figure out how to deal with that. If you guys would mind putting your hands back down because I can't see people talking all the hands up.
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4:24Okay. Thank you. Thank you. There they are. So we've got to figure out how to deal with that frozen cash, first of all, figure out if and when it's going to be back on the radar for us.
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4:33And then number two is we have to figure out how to make sure that the TXC that we brought in isn't abused as we follow through on the budget requirements for Iskander.
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4:49So I don't have a good answer to that question yet, but we'll get together with the Finance Committee to figure that out.
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4:54Because, a couple of things. Number one, we got to make weekly payments for the budget, two, we got to pay out commissions, which are way overdue for the scan or mining hash power that was sold.
1:
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5:06Three, we've got to buy the hash power, and we're going to jump to that actually next, and I think that's the last thing, two more things on my list.
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5:18So there are a lot of cash things that we got to figure out. Essentially, what it comes down to is we're going to have to borrow.
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5:25We're going to have to borrow from TEXITCoin to do that. And maybe TEXITCoin will will do a swap for some dollars USDC or maybe it'll just lend with the TXC guarantee.
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5:42I'm not sure exactly how to deal with that yet, but we need cash. Most of ours is locked up. We've got enough to take care of you know these these initial urgent things like buying hash power and paying your compensation.
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5:55The whole ultimately is that moving forward quickly we're able to get cash flow up so that we're not running into the negatives as we take on these these consistent obligations.
1:
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6:06So I got our back, text points got our back because I don't have committees in general assemblies to deal with on that side I'm able to make those decisions for us but But again, we'll have to figure that out in committee and then get back to the general assembly with a financial plan to let you guys
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6:23know exactly how we're gonna deal with that. Does that answer your question, Joe? You know what? Perfectly that exactly what I was looking for.
1:
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6:29So we'll figure it out. All right, thanks, Bobby. And remember guys, all this stuff is on the record now. So whatever we're doing as we think through different challenges, it's on the record and then we'll share the results of the research and the outcome there as well.
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6:43Okay, last two things. Number one, I mentioned purchasing mining hash power. This is a big deal because for me, it's kind of a no-brainer, but it's not something I've got the authority to do without a green light.
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6:59And so I've got two invoices from a company called BitKern. We want to pull up BitKern real quick here, so we can find what they are.
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7:11BitCurrent is a Swiss hosting company that offers cloud hosting and also co-location hosting. They've got, they call that their BitCurrent Pro package.
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7:24I've already been in communication with them as of a couple weeks ago, but we can buy a pack of L9s from them and then send it out to their data center which is in Northern Europe.
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7:38and so this is important because it's the first time that we're setting up mining outside of Texas. So, substantial mining outside of Texas.
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7:46You can see the different prices that they charge in different areas. I would like to propose to do a $115,000 deal 30 L9s and try them out and cross our fingers and see how it goes.
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8:02So, if you're in favor of sending a $115,000 contract with BitCurrent, give me a quick hand up. And again, this is going to put our first batch of miners in Northern Europe.
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8:13Going back to the original premise of this candor, this was our, you know, Eastern Europe Middle East expansion strategy. And we wanted to start planning mining to all said geopolitical risk in other parts of the world.
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8:26And we had a contract and we looked at for Oman, that's still on the table. We've got a contract now for Northern Europe.
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8:32I don't know exactly where it is, but we will have the ability to visit the site. Make sure that it's actually there.
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8:38And then we've got another contract in front of us for Brazil. And so this is something that's going to be dealt with from the mining committee.
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8:45But since we're all here on this initial call, I want to put it in front of you guys. I got a lot of hands up 66.
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8:50And again big hands are up. So we're going to consider that to be a yes. And thank you very much for that.
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8:57You can put your hands back down now. And the last item that I've got on the agenda for tonight is to talk about the instructions that I would like to give out to the Referral and Affiliate Compensation Committee.
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9:21Guys, who's sharing that committee? Is that Thomas? That is Thomas. Yes, sir. So, Tobus, I would like the General Assembly to give you an instruction to set out and as quickly as possible, determine two things.
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9:43Number one, what we think in the committee's estimation went wrong with the compensation plan that MindTXE had and the committee's proposal as to how We can have a plan with IDMC that deals with that head on and puts forth for our consideration something better.
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0:07Questions, comments, suggestions about that instruction? Can you speak at all right now about what you've done so far because it is my understanding that you've actually already been doing some the late work to this end, is that true?
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0:22Yes, so of course met with some of the committee, some of the chaired people and a couple of members, and just to kind of bounce some things around, going to have first committee meeting.
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0:38I believe Friday morning, if I wanted to get through tonight, you know, make sure that I was still here. and it was a coin to us Thomas but you got through 50-50 so and but we had we had some great discussions we have some legal things that looked at we've done some stress testing on a few things and
1:
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1:06so we'll have some things to bring to the table and for open discussion at the proper time and and and then And hopefully quick as quick as vote as we can possibly can, but we want to make sure everything's covered legally, we want to make sure everything's covered in the numbers of people wanting to
1:
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1:29move the direction that we're moving in. But we're trying to, at this point, bring an idea of where we were and improve on that.
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1:39best guess on your timeline to have your report ready for presentation. Okay well we we can give some initial ideas at the committee meeting of course and run through what we're looking at so far and and then Mitchell and my correct to say two weeks for approvals is that what we were told on the legal
1:
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2:10end. Yeah. And stress testing, right? Okay. Excellent. All right. Can I get a quick show of hands from people in general?
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2:23How many folks on this call would like to see a switch from kind of a single tier affiliate program to a more complex, you know, multi-tiered network marketing type structure.
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2:41You know, what I don't want to do is send Thomas and his experts down a rabbit hole only to find out that the majority of people don't even want that in the first place.
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2:51And I know it sounds like a silly question, but when Thomas and I first talked about this, His reaction was, I don't know, the new plan is kind of working for me and some people obviously it's incredibly different and I don't want to put words in your mouth Thomas so feel free to jump in and tell me
1:
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3:08what your actual thoughts were. But we all know that the multi-level stuff creates a huge amount of excitement, enthusiasm and compensation for people to do what they're really good at, which is mentoring, team building, educating, bringing people together, making sure somebody else that brought that
1:
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3:34person in the room gets the lion's share of the compensation for it. But look, it's a team effort and we all want to get a little piece of it.
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3:41And so if there's a way to do that correctly, fairly, legally, accurately, You know, then at this point right now, I'm seeing that most people have a hand up.
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3:52I've got an X, and I've got a couple of thumbs-downs. Do the thumbs-down or X people want to share a thought on what they don't like about that concept or what they would like to see done different?
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4:12We had a nightmare time with the last compensation plan. Our people didn't know where to put people, how best to put people.
1:
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4:22And then it got so complicated. People were doing things that benefited themselves instead of, you know, the community as a whole.
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4:34and I think simple would be way better. Okay, so Thomas, my instruction for you is to listen to that feedback.
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4:42You know, not everyone wants to be a fan. Now here's the bad news for you, Joe. This is gonna be a decision that's made by the community.
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4:50And we're not gonna like all the decisions that the community makes, but as members of the IDMC, we're gonna have to agree to it and abide by it.
1:
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5:00And so what's important is not necessarily that everyone's unanimously agreeing with everything. I think what's important is that we're taking the dissenting views and opinions in a consideration and doing everything we can to accommodate that feedback.
1:
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5:15We're not going to put together a perfect system that everyone is in love with forever. As our system gets more detailed and complex, it'll attract the people that like that kind of stuff and kind of repel the people that aren't into that kind of stuff.
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5:27And so we're all here today. We're all in this call and your opinion matters. Joe obviously you've been a huge piece of our puzzle and building us to where we are now and it's greatly appreciated and so your voice is hurt and I need you guys to work together to get those those descending opinions over
1:
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5:46it so that we can deal with them as best as possible to present a good plan that the the board of of administrators is going to review and I think we're going to put it out to the general assembly because it's kind of a big deal.
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6:00Right. Right. And we want to have as much buy in as possible as we make big changes. Absolutely. Bobby, when we talked, I was doing math on the 20% and I was a happy camper.
1:
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6:14So I'm going to facilitate to the best of my ability here. Here's what I do know is that we didn't consider the last plan in MLM, so I do see the nays out there, but we didn't consider it one, although it resembled very much so.
1:
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6:30So we want to consider that and then also simplifying something to where the problems, that's why Bobby said address the problems, are not repeated in a team building network or a straight commission network whatever we decide to do.
1:
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6:48So leverage is good to me as far as opinion goes but we but like like like was said in a couple of comments happy medium to find a way and to find a way to fix and put out the best thing for your family's future and the company's future and we'll do that.
1:
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7:11Love it. Okay, guys, that's all the things that I had on my list. Is there anything else that anyone wants to talk about before we wrap up?
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7:21Just so everyone knows Bobby real quick Tuesday night, this coming Tuesday will be our first is Scander Weekly Miners Update Call.
1:
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7:31So it will be at 8 p.m. Eastern, 7th Central and we'll be putting out a link. We'll make sure we get it out early for everyone and then we'll sit it out again the day of so that anyone that would like to be on there can be on there.
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7:45And I greatly appreciate it. If you guys would show up in big numbers, let's make this first call big success.
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7:52Yes. Excellent. All right, just to leave us with a thought or to look, guys, Iskander DMC is a formal structure.
1:
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8:07It gives us a more clearly dialed in mission and purpose. It's, you know, gone through some analysis by legal experts that are clearing up some questions that we've been dealing with for a very long time.
1:
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8:24Now, when people ask you, hey, is this thing a security? Absolutely not. Why not? And then you got to hold this thing and communicate.
1:
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8:30It was working, and I took it home, and I'm talking to the reader. There you go. But I want to give you a couple of things real quick to talk to people about because they're going to be like, what happened?
1:
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8:44Isn't this TEXITCoin round two? No, this is the global expansion of what we started that worked so well. And the three quick things to point to as far as what's different.
1:
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8:55Number one, we're now allowed to expand the mine outside of Texas. Before we were building a Justin Texas, Iskater gives us the ability to put minds all over the world.
1:
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9:06Number two, all of the caps and most of the caps and limitations that Bobby put in place to kind of squeak around, is this an MLM, is it not an MLM thing?
1:
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9:18Those are now seriously removed or modified. You know, instead of a $9,000 cap, we've got an $81,000 cap. That's a 9x improvement.
1:
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9:28And so, same thing I think is going to happen on the comp plan side. I think we're going to see a much better comp plan that rewards top participants for top contributions while still maintaining the fair and anyone can do it, you know, get their original cash back kind of principle that we built into
1:
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9:48the first round. So, two is we're removing some of the roadblocks that I set in place specifically and deliberately because we didn't know what the rules were.
1:
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9:57Now we know what the rules are, and so we can start to pull those hurdles out of our path so that we can go further and faster.
2:
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0:07And number three, and this is really the big one, guys, influencers. We have a no-influencer strategy with TEXITCoin, it's by design, it's seriously limiting, and it seriously slows us down.
2:
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0:20Now we are going to work to bring on influencers, we have already named dropped enough times, but now we're gonna work on spending the promotion budget real time with real influencers to get our message far and wide.
2:
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0:35And so as you go out there and talk to people about, what are you doing? What is it now? It's IDMC, it's a cooperative that allows us to share the benefits, share our cost pool, our money, pull our resources for our common mission of building this mine.
2:
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0:51We get to build the mine all over the world. We don't have the same limitations and roadblocks in our way that we had before and now we're going for it with better promotion and marketing strategy.
2:
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1:02So those are the key differences with Iskander. Start there. We want to have a message that's simple, repeatable, duplicatable. We'll figure out exactly what those pieces are as you guys, as you experts come together and craft those things, those videos, and those brochures, and those leaflets and pamphlets
2:
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1:20, and banners will figure it out. This is day one of the IDMC, and I'm very proud of it. It is very well researched.
2:
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1:29It's very well put together. It's very well-formed. It's very well documented. It's very well set up with legal expertise. and I'm very confident that this is exactly what we need to go from where we were, which was great, all the way to the finish line and beyond.
2:
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1:45So thank you again to everybody that showed up for this very long call. Let the recording shared and recorded to the blockchain very shortly.
2:
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1:52Yes. Any time, thank you as your chairman. I'd like to thank the Board of Administrators for coming together and helping us run this thing.
2:
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2:01I'm looking forward to talking to the committee chairs and seeing the work that you guys are producing as we hand off instructions for all of that and let's go guys.
2:
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2:10Let's do it. We got a great thing and we got a great team and I'm so excited for us to get started.
2:
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2:17Thanks everybody. Have a great night. everybody we'll talk to you guys again on Tuesday