TNT Conference Call

Monday, September 23, 2024

Tony’s Monologue: Saturday, they did pay people. They tested it and it did go through. Tony got this from a couple of sources. It is at the banks. One day we are going to get paid. It didn’t go on Sunday like everyone was thinking. It didn’t go this morning like Tony was thinking. September 30th is the end of the fiscal year for the government and military. At the end of this fiscal year, you have to zero out your account or you don’t get it the next year. There is no other reason to not do this, it is cleared to go, and it is there sitting at the bank. Tony was thinking that it is the 23rd and if these agencies all get this money, how would they spend it all by the 30th. Maybe they want to start clean on October 1st. Today, contracts are under the fiscal year 2024, even though the UN is pushing for 2025. Turkey and Iraq are adamant about it happening before October the 1st. Tony got last night that the minister of finance in Iraq announced that all currencies in Iraq have a 10-day surrender period. It should have gone over the weekend, everyone wanted it to, and it is sitting at the bank. Tony has confirmed from multiple banks they are to start calling in their people. It was scheduled to start at 5pm on Friday and then it was scheduled to start at 530 yesterday. Today there is a scheduled start time. Right now, they are saying they are going to start calling in their people. The October 1st thing is still out there. It was a question. The UN requested one thing and Iraq and Turkey want something else. It could go right up to the 30th or on the 1st. Tiraq wants it in 2024 so they can make it retroactive. The plan right now is for it to happen this evening, which probably will be after 5 pm. Be ready.

Q & A:

- Iraq’s fiscal year ends on December 31st.

Wrap Up: Everything is positive still. The rate is at the banks for whatever time they get the go. Memos went out to several banks to call their people and set their appointments. This could mean that they are trying to get something done. They wanted them to start at 2 pm but it is almost 3 pm. The banks requested to not start until after two. We are waiting to see if they in fact do. Several banks confirmed they got the memo to start but not until after 2 pm with some believing after 5pm. The rate is 3.41. You know the high rates. Be ready to go. It could be a marvelous Monday. If not, it could be any minute. It was supposed to be at 8am this morning but they requested it after 2 pm today.