2024
Fiscal Year Report
July 1, 2023 – June 30, 2024
Dear Token Holder,
The fiscal year for cattle ranching ended on June 30th, 2024 and the year-end audit was recently issued. This report includes a summary of our activities a La Pradera, a breakdown for the 2024 NOR and a brief summary of the foreign currency restrictions in Bolivia. Most importantly, this report highlights the NOR generation on behalf of our token-holders for the fifth consecutive year, effectively delivering on our promises with solid fundamentals and tangible results. The 2024 NOR per token of CHF 0.0358 represents a return of 3.58 % pa
La Pradera
Cattle Ranching
The cattle operations registered the weaning of 745 calves during 2024, consistent with the yield per hectare of grass. While we mitigated the effects of the drought, our animal nutrition costs increased slightly as compared to the previous year and thankfully, our previous infrastructure improvements and paddock subdivisions allowed for effective herd rotation and efficient grass consumption. La Pradera maintained its certification as an Export Certified Ranch in compliance to all the sanitary requirements and inspections. Furthermore, in compliance of the sanitary policies for the prevention for Foot and Mouth Disease (FMD) and for Bovine Spongiform Encephalopathy (BSE), all our cattle transactions and animal transfers are individually registered and approved, without exception.
In line with our corporate policies, we are pleased to report that our operations are fully compliant to the highest ESG standards. Environmentally, we rely on naturally grown grass, we only use natural water sources and our free-range animals feed only on natural grass off the ground. Except for the vaccines required in compliance to sanitary regulations, our herd receives no feed supplements nor antibiotics or any other growth stimulants. As we improve our ranching operations, our infrastructure is increasingly powered by solar energy.
Agriculture
Pradera diversified its operations by expanding into agriculture. 500 hectares were transition from grassland into crop ready fields. During the year, 420 hectares were plantes with soybean with good results for the first year of soybean plantation. The soil is good, the rainfall adequate notwithstanding the challenges we faced for depending on rented equipment for planting, spraying and harvesting.
2024 net operating revenue - nor
Following are the financial results for the Fiscal Year 2024 and the corresponding NOR due to token holders registered as of June 30, 2024.
As a transition into agriculture was initiated on half of the property, the cattle revenues correspond to the private token-holders and the cattle NOR is divided by 5 million tokens only.
The 2024 NOR of CHF 0.0358 per token represents a return of 3.58 % pa as per the report from our Auditors. As mentioned before, we are delivering financial results to our Finka Token investors for the fifth year in a row.
Given the foreign currency restrictions imposed by the government of Bolivia the 2024 NOR will be paid in Finka Tokens pro rata to our token holders. Please read below.
Finka Token
As a pioneer in the Real World Asset space the Finka Token has survived several crypto winters and to this date remains as a reference financial instrument that converges a productive activity with crypto finance based on blockchain.
The mass distribution of our token is limited by the systemic reality of no secondary markets with thus no liquidity and no distribution channels as there are no security token exchanges or approved marketplaces thus, the Finka Token remains a private instrument until the secondary market develops.
bolivia
The government of Bolivia has imposed foreign currency restrictions in contrast to the free and open market existing until 2023. As a result, access to dollars and any other foreign currency at the official exchange rate is via the banking system and allocated on a priority basis.
This restriction affects negatively on our ability to pay our token-holders in Swiss Franc as we did in the past. We will pay the 2024 NOR in Finka Token at the same original value of CHF 1.00 per token
We believe this restriction is transitory and should change with the incoming government after the elections to be held in August 2025.We thank you for your trust and we look forward to another year of increased production, sustainable operations and financial inclusion.
I would also like to thank our service providers, our financial advisor as well as to the whole team at La Pradera and Finka. A special mention goes to Pablo and Marcial for their dedication, leadership and long hours which have contributed to our success this year.
I share below some photos of La Pradera and reiterate the invitation to come and visit.
We hope that you and your families stay healthy and safe.
Sincerely,
Carlos H. Fernandez Mazzi
Founding Partner
Finka GmbH