NASSAU, Bahamas, Sept. 6, 2022 — Tropical Gyro, which received more than $448,000 in pledges, has been given an extension by the Securities Commission of The Bahamas for 30 days in order to give pledges more time to pay.
Announcing this in a press release today, D’Arcy Rahming Jr., co-founder of ArawakX, said that to pledge requires that persons fill out an application online and load up documents such as their passports and declare the amount they intend to pay. After their account is approved, they are then sent payment options.
“We consider all pledges to be serious as no one would give up all of that information if they were not,” said Rahming.
Noting that so far about $180,000 have been collected in actual cash, Rahming added: “The good news for investors is that the Commission has already recognized that enough cash has been raised to deem the raise successful, as the use of funds are sufficient for Tropical Gyro to be able to proceed with their first phase — a distribution center and a second location. Significant progress on the first phase for Tropical Gyros can be made because of two factors. First of all, Tropical Gyro has seen a 40% raise in sales and secondly because of the scalable nature of the project.”
“This is a new experience for everyone,” said Chef Kevin Culmer, founder of Tropical Gyros. “We are in constant communication with ArawakX and we understand that they are doing everything in their power to convert more pledges to cash so the other phases can be completed and more people can be financially included.”
According to Rahming, the conversion is centered around two main strategies: “Follow up phone calls and more payment options.”
“We are grateful to the Commission that they have allowed the extension and are responsive to real needs of business owners,” Chef Culmer said “We will be able to employ 20 additional persons in our first phase and purchase more equipment and supplies. We have now selected an additional location in RND Plaza for our next store and our distribution center. I want investors to know that we are moving ahead in a positive way and to be assured that their investment will be put to good use.”
Persons interested in investing may do so at ArawakX.com
