RCS - Tally Central Ltd - Activities & Objectives 2023 - end of Q2 Update

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RNS Number : 8295E  Tally Central Ltd  03 July 2023

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
2(nd) 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 corporate@tallymoney.com

Enquiries:

 Cameron Parry (Chief Executive Officer)   Tel: +44 (0)20 3490 6210

 corporate@tallymoney.com                  www.tallymoney.com (http://www.tallymoney.com)

 

 

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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