TALLY CENTRAL LTD
("Tally Central" or the "Company")
Activities & Objectives 2023 - end of Q2 Update
03 July 2023
Tally Central Ltd, the money innovator, developer and central authority of the 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 payment rails. 1 tally® = 1 milligram of physical gold vaulted on the customer's behalf. The value of tally® is insulated from devaluation by inflation and protected from the debt exposure of the fiat currency fractional-reserve banking system. TallyMoney customers save, send and spend tally® using their Tally Account 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 TallyMoney we believe the individual, not the bank, should be in control of their money and the public should be able to use a safe store of value in real-time, conveniently in an everyday account. This is fundamental to protect individual economic freedom and promote productivity in society.
Q2 2023 saw a major milestone achieved. After more than two years of design and development and incremental integration, our proprietary platform technology, 'Teco' (short for Tally Ecosystem) went live fully integrated on 2nd May 2023. With Teco live we have implemented the independent international monetary system and payments technology that is the Tally vision. With our proprietary platform technology, the Company is able to deliver mainstream competition to the fiat currency fractional-reserve banking system and offer people and (soon) businesses in the UK, and eventually around the world, a far superior monetary product that protects and benefits the consumer, not the bank. Tally is still at the early stage of a long journey and the 'end of the beginning' also includes a successful IPO, but this is a critically important business milestone to acknowledge.
With Tally Central now running all tally ledgers on its in-house architecture and being able to directly operate our debit card stack as the payment authoriser, we can implement other use-cases of Tally's currency product that we look forward to demonstrating over the second half of 2023 and beyond.
In June, we released our 'piece of art in your pocket' cards campaign, after holding a competition amongst student artists on what TallyMoney represents to them. We collaborated with our card manufacturer on the four winning designs, incorporating cutting edge card design elements into this limited edition series and we're excited to bring these unique Tally debit Mastercards® to Tally customers. More information on the new cards can be found in App or at tallymoney.com/art
Regarding the Company's non-core investment assets, this quarter saw the BSE-listed Deccan Gold Mines Limited ("Deccan") shares delivered into our Indian brokerage account, that we received as a share swap from the sale of our longstanding shareholding in a private Indian exploration company. Although it had generated excellent cash returns of circa £5m from our original £1.27m investment in February 2018, our remaining shares in Railsbank Technology Ltd shall be written off in the Company's financial year end 30 June 2023 audited accounts following recent news that it was in grave financial difficulty and has carried out a pre-pack administration. Lastly the sale of our Finnish assets is still in progress and we hope to have that deal completed over the course of Q3.
With Teco live, we can now press ahead with greater data insights and new product development, which includes going live with UK SME accounts in Q3, along with implementing the first use-case of Tally's B2B model and how Tally's independent international monetary system and payments technology, and universally understood currency, can solve real-world business problems."
tally® priced in GBP at time of this announcement (and previous announcements):
· 1 tally® = 4.86 pence
· £1.00 = 20.58 tally®
o As of 01 April 2023 announcement, 1 tally® = 5.11 pence (approx. £1 = t20)
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 monetary 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 Bombay Stock Exchange-Listed Deccan Gold Mines Limited and Finland gold exploration JV company Kalevala Gold Oy.
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