ORO VALLEY, Ariz., June 05, 2019 (GLOBE NEWSWIRE) -- Tautachrome, Inc. (OTC: TTCM) today announced a company update including user testing commencement of the ARknet version 1.0 app, completion of our KLK20 token sale, and a one billion share reduction in its authorized share count.
Commencement of ARknet V1.0 User Testing
Tautachrome is excited to announce that user testing of its heavily anticipated ARknet 1.0 app has been kicked off. More than 450 people from all around the world have signed up to download the ARknet 1.0 test app to assist us with testing. Testing will be done in staged releases which will give users the ability to create real ARks with temporary content so that we can measure ARk creation behavior, load testing, security boundaries, privacy settings and other functionality. We anticipate testing to last a few weeks followed by development adjustments. From first thought to today has been an intense and crucial seven months as we have engineered our Ark vision into a reality.
Wrapping up the KLK20 Token Sale
The Company is working very hard to achieve liftoff with our ARknet platform riding on our own KLK cryptocurrency to achieve truly global and frictionless consumer interactions using the virtual geolocated ARknet ARks. As a key part of successful liftoff, we have terminated our selling program under which we have been selling KLK20 tokens. We are taking this action because sales of KLK20 crypto tokens under our program are classified by the SEC as securities investments subject to regulations, which regulations remain in serious flux within the SEC. We have decided that the KLKs sold in this way risk having restrictions that could confuse and restrict the intended use of KLKs as an effective currency in our ARknet ecosystem. We believe that removing that risk will add fuel to liftoff! And to make sure there’s no going back, all purchases made under the selling program have been reimbursed by the Company to all buyers.
One Billion Share Reduction in the Authorized Share Count
In March the Company increased is authorized shares from 4 billion shares to 6 billion in order to accommodate reserve requirements that we were obligated to fulfill. Tautachrome is pleased to announce that the first authorized share reduction of one billion shares is in process and will be reflected by the Secretary of State of Delaware and by our transfer agent In due time. This first reduction brings our Authorized share count down to 5 billion. We would like to again state that we have no plans or intentions of conducing a reverse split of Tautachrome stock now or in the future.
Additional Tautachrome Statement
We are truly grateful for the patience and support of Tautachrome shareholders! Please join the conversation on our KlickZie/ARknet supporter’s telegram group at www.t.me/KlickZie
To be added to our mailing list for updates and news please send a message to news@tautachrome.com.
The company diligently posts important information and updates through tweets from the official company twitter page (https://twitter.com/Tautachrome_inc).
About Tautachrome, Inc: Tautachrome, Inc. (OTC:TTCM) is an emerging growth company in the internet applications space, uniquely exploiting the technologies of the Augmented Reality sector, the blockchain/cryptocurrency sector and the smartphone picture and video technology sector. Tautachrome has high-speed blockchain concepts under development aiming to couple with the Company’s revolutionary patents and patents pending in augmented reality, smartphone-image authentication and imagery-based social networking interaction. The development of a new patent pending ARknet technology exploiting augmented reality in a new solution to the purchasing interaction between global consumers and providers is a new innovation that has been licensed by the Company for development.
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, risks of managing growth, governmental regulatory risks, technology development risks, schedule slippage risks, 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.