ORO VALLEY, Ariz., Dec. 21, 2016 (GLOBE NEWSWIRE) -- Tautachrome, Inc. (OTCQB:TTCM) today said it is pleased to announce it has completed in its entirety the previously announced retirement of common shares held by its principal shareholders. Under the plan, the principal shareholders retired approximately two-thirds of the common shares held by them in exchange for non-trading preferred shares with no preferences on dissolution and with a long holding period.
A total of 1,379,510,380 common shares were retired by our principal shareholders, reducing the Company’s outstanding shares from more than 3 billion shares to less than 1.7 billion shares.
The voting power of each principal shareholder has been conserved by providing the series D shares received in the retirement with the same voting power as the common shares retired. Preferred shares will not convert back to common shares until held for five years or until the common stock becomes listed on a national exchange such as NASDAQ or reaches a share value of $3.00 per share for a period of time
Dr. Jon N Leonard, Tautachrome CEO, said, “The retirement of shares under this plan not only signals the long-term commitment of the Company’s principal shareholders to the future of Tautachrome and to the grand vision of the Company’s flagship KlickZie trusted imaging technology, but it also demonstrates our commitment to our shareholders to finish what we start and accomplish what we set up out to accomplish.
To grow company value and stock liquidity, we are deploying resources to better tell the Tautachrome story to potential investors and to raise public awareness of how KlickZie technology can beneficially affect users across the globe. To accelerate this process, we have engaged talent to introduce the Company and our KlickZie technology to vital leaders in corporate America. In addition, internally we are developing refined business models for leading corporations in the deployment of KlickZie into their organizations."
Eric McRae, Tautachrome’s Business Operations Manager added, “We wanted to provide our shareholders with the Christmas gift of up-listing the Company’s shares to the OTCQB, an event that became a reality just last week. Christmas is still a few days away; there may be another gift under the tree still to come. Stay tuned!”
Happy Holidays to you all!
About Tautachrome, Inc.
Tautachrome, Inc. (OTCQB: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.
Forward-Looking Statements: 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.