Giotex was created with proper plan and resources to build digital assets to be utilized in Block Chain Technology. The income from Block Chain industry is enormous, at the same time it requires a huge initial stage investments. We expected a good cash flow at the start-up stage of the business whereas Giotex did not receive cash flow as expected. The slow raise in fund by the team members has not supported to build assets within the planned time. Hence we could not service payout at some point of time.
To overcome the issues, Giotex has decided to dispose the digital assets at cost and pay back the token holders, which requires some reasonable time. We expect the disposal process will take 4-5 months time. Hence it has been decided to repay the token investments by the end of March 2023.
We hope you understand the difficulties faced by Giotex in its progress. We expect your fullest co-operation in the token investment settlement process.