TALLY LTD
("Tally" or the "Company")
Activities & Objectives 2023 - end of Q1 Update
02 April 2023
Tally Central Ltd, the money innovator, developer and central authority of the Tally full-reserve non-fiat monetary system and physical-gold digital currency, tally®, is pleased to update shareholders about the Company's activities and objectives.
tally® is an asset-based money (not government issued debt-based fiat currency, nor a cryptocurrency), designed to protect and benefit the customer, not the bank. The Tally monetary system is independent of the traditional banking system, but seamlessly works with its payments infrastructure. 1 tally® = 1 milligram of physical gold vaulted on the customer's behalf. The value of tally® is insulated from inflation and bank risk and protected from the economic consequences of the fiat currency fractional-reserve banking system. Tally customers save, send and spend tally® using their Tally Account (and linked debit Mastercard®) like any other mainstream currency in a personal account with an IBAN (International Bank Account Number) and linked debit Mastercard®.
Cameron Parry, Chief Executive Officer and Founder, commented: "At Tally we believe people should be able to hold their money in an everyday account that's a safe store of value and where the money remains the person's asset and in their control. This is fundamental for individual financial wellbeing and to promote savings and productivity in society.
Q1 2023 was a busy quarter for Tally as we continued to complete strategic milestones regarding technology development, core business operations, group structure and investment asset consolidation. We continued growing customer numbers and the amount of tally in circulation, and we're imminently due to switch over all transactional data to our 'TECO' technology platform.
In Q1 the sale of Tally's shareholding in private exploration company Geomysore Services (India) Pvt Ltd to BSE-listed Deccan Gold Mines Limited was confirmed by the Indian regulator and the share swap completed. We are still in the process of concluding the sale of Tally's shares in Finnish gold exploration company, Kalevala Gold Oy, which we expect to complete in Q2.
With work undertaken to date, our new cards vertical should be fully live in Q2 with new card designs being available to customers, as well as the release of Tally Accounts for SMEs via WebApp. Q1 also saw us initiate preliminary discussions for making tally available in a new jurisdiction. These are all steps as planned to making Tally a compelling investment proposition for a successful IPO and increase brand and product awareness and increase the marketing spend available.
The value of gold over Q1 continued to generally rise against pounds sterling and other fiat currencies, and now one pound sterling buys less than 20 tally®, or put another way each tally® is now over 5p. March saw the collapse of the United States' 16th largest bank, Silicon Valley Bank, along with Signature Bank and Silvergate Bank in the US, and then a week later Switzerland's second largest bank, Credit Suisse, had to be bailed out by the Swiss Central Bank and sold to its biggest competitor. We watched with interest at how quickly central banks and large clearing banks absorbed the situation over respective weekends, but of course, it is ultimately the public that pays for bank bailouts. This macroeconomic landscape reinforces the need for Tally's monetary product and independent platform technology in society."
tally® priced in GBP at time of this announcement (and previous announcements):
· 1 tally® = 5.11 pence
· £1.00 = 19.57 tally®
o As of 31 December 2022 announcement, 1 tally® = 4.85 pence (approx. £1 = t21)
o As of 30 September 2022 announcement, 1 tally® = 4.77 pence (approx. £1 = t21)
o As of 30 June 2022 announcement, 1 tally® = 4.77 pence (approx. £1 = £21)
o As of 01 April 2022 announcement, 1 tally® = 4.71 pence (approx. £1 = t21)
o As of 31 December 2021 announcement, 1 tally® = 4.33 pence (approx. £1 = t23)
o As of 30 September 2021 announcement, 1 tally® = 4.17 pence (approx. £1 = t24)
o As of 30 June 2021 announcement, 1 tally® = 4.10 pence (approx. £1 = t24)
o As of 31 March 2021 announcement, 1 tally® = 4.00 pence (approx. £1 = t25)
o As of 31 December 2020 announcement, 1 tally® = 4.47 pence (approx. £1 = t22)
o As of 30 September 2020 announcement, 1 tally® = 4.71 pence (approx. £1 = t21)
o As of 30 June 2020 announcement, 1 tally® = 4.63 pence (approx. £1 = t22)
o As of 31 March 2020 announcement, 1 tally® = 4.21 pence (approx. £1 = t24)
o As of 02 January 2020 announcement, 1 tally® = 3.71 pence (approx. £1 = t27)
o As of 25 November 2019 announcement, 1 tally® = 3.67 pence (approx. £1 = t27)
o As of 02 September 2019 announcement, 1 tally® = 4 pence (approx. £1 = t25)
o As of 10 June 2019, the initial release date, 1 tally® = 3.33 pence (approx. £1 = t30)
For further information or if shareholders have any queries, please contact our office via [email protected]
Enquiries:
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Cameron Parry (Chief Executive Officer)
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Tel: +44 (0)20 3490 6210
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About TALLY
· Tally Central Ltd is the central authority and innovator behind the independent monetary system, payments platform and physical-asset digital money, tally®, that operates seamlessly with government-issued fiat currency (e.g. pounds, euros, dollars) and the fractional-reserve banking network.
· Each unit of tally® = 1 milligram of LBMA-accredited gold vaulted in Switzerland with Brinks® on behalf of the customer and utilised by the customer via their Tally Account with individual IBAN (International Bank Account Number) and contactless Tally debit Mastercard®.
· tally® is not a fiat currency and tally® is not a cryptocurrency.
· Tally's platform technology enables customers to use physical gold as spendable money and save, send and spend in real time.
· Tally's wholly owned UK subsidiary company, TallyMoney Ltd, is a recognised E-Money Directive Agent (FCA Ref. No. 902059) under Financial Conduct Authority-licensed E-Money Institution, PayrNet Limited (FCA Ref No. 900594).
· Tally Savings & Everyday Accounts can be accessed via Tally's Smartphone App, available on iPhone and Android by searching "TallyMoney" on the Apple App Store or Google Play Store.
· Tally Central Ltd currently holds shares as investment assets in UK-based Banking-as-a-Service fintech Railsbank Technology Ltd, Bombay Stock Exchange-Listed Deccan Gold Mines Limited and Finland gold exploration joint venture company Kalevala Gold Oy.
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