ORO VALLEY, Ariz., Oct. 12, 2016 (GLOBE NEWSWIRE) -- Tautachrome, Inc. (OTC-PINK:TTCM) today announced the status of its Share Retirement Activity.
Dr. Jon N Leonard, CEO, stated today:
"In keeping with my desire that our investors be informed on the things that matter in Tautachrome I want to comment on progress on the following important fronts."
"The share retirement announced last week is targeted to close in the fourth week of this month. The retirement of substantial amounts of the common shares owned by the Company’s principal shareholders in favor of preferred shares with long lock-out times telegraphs the long term and single-minded commitment of these principals to the success of the Company. Terms of the preferred shares will be announced soon. It is planned that share retirement will be accomplished in two increments, with a little more than 50% in the first increment and the balance in the second. The number of shares retired by each principal will be announced at the closing of retirement targeted for later this month."
“Our business briefing describing the company’s flagship KlickZie technology and our rollout plans, visions and revenue expectations will be posted tonight on the Tautachrome website. In addition, we are developing a short video intended to complement the briefing that will be posted on the website in the coming weeks."
“We continue to work hard on patent development activity. I am personally in frequent contact with our patent attorney regarding progress with the US Patent and Trademarks Office, and can report that our work is progressing normally. Patent development is arduous and relentlessly consumes the calendar but we consider it to be an important focus area.”
About Tautachrome, Inc.
Tautachrome, Inc. (OTC-PINK:TTCM) is an emerging growth company in the developing digital imagery technology sector. Tautachrome is an Internet technology development company with operations in America and Australia. Tautachrome has revolutionary patents pending, including Talk-to-the-Picture social networking and trustable imagery-based interaction.
Safe Harbor Statement Statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Risk factors that could cause actual results to differ materially from those projected in forward-looking statements include, but are not limited to, general business conditions, managing growth, and political and other business risks. All forward-looking statements are expressly qualified in their entirety by this paragraph and the risks and other factors detailed in Tautachrome's reports filed with the Securities and Exchange Commission. Tautachrome undertakes no duty to update these forward-looking statements.