ORO VALLEY, Ariz., Nov. 29, 2017 (GLOBE NEWSWIRE) -- Tautachrome, Inc. (OTCQB:TTCM) today announced that its KLK cryptotoken ecosystem will be capped at a total of one billion-cryptotokens, that 500 million cryptotokens will be distributed to buyers in KLK cryptotoken sales beginning January 15, 2018, and that the balance of the KLK cryptotokens will be distributed among the Company’s stakeholders.
Photos accompanying this announcement are available at
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The KLK cryptotoken universe will be forever fixed at 1 billion tokens. The billion tokens will be distributed as shown in the pie chart. Half of the tokens will be sold in our token sales activity. The other half of the tokens will be distributed to Tautachrome shareholders, the KlickZie/KLK team, Tautachrome partners who will use KLKs to further the KLK ecosystem, and bounty hunters for finding/fixing KLK technical problems.
Of the 20% of KLKs (200 million) distributed to Tautachrome shareholders, 100 million will be distributed to our 1,500+ common shareholders and convertible promissory noteholders during the period of the Cryptotoken sales, and 100 million will be reserved for future distribution to preferred shareholders and future promissory noteholders.
The KLK sale will be carried out in several offerings, each offering aimed at achieving funding for specific KlickZie and KLK objectives that follow the sale. The KlickZie Roadmap shows the KLK sale offerings and the technical objectives to be achieved. As shown in the Roadmap, we are planning four offerings in 2018, the first scheduled to start on January 15th and the last to start on November 15th.
Each offering will remain active for a set time, nominally 30 days, or until our funding goal is achieved. Our total funding goal is $150 million. We will continue KLK sales into additional offerings if the four planned offerings fail to achieve the total funding goal, and the offerings may be discontinued early if our total funding goal is achieved early.
KLKs will be priced in the offering(s) to achieve the best price per KLK. This could result in our funding goal being achieved early; before the 500,000,000 KLKs are sold. In that event the Company retains the right to sell more KLKs to achieve greater funding than its total funding goal, the right to “burn” unsold KLKs, or the right to any other disposition of the KLKs that it judges to be in the best interests of the Company, its stakeholders, and the KLK ecosystem and its users.
If all 500,000,000 KLKs were to be sold to achieve the funding goal, the average price of each KLK sold would be 30 cents. But if our funding goal is achieved with the sale of fewer than 500,000,000 KLKs, then the average price per KLK would be higher than 30 cents.
At some point after the first offering, the distributed KLKs may become traded on one or more of the various cryptomarkets. At that point cryptomarket activity will determine the value and liquidity of KLK cryptotokens.
Because cryptocurrency activity is global and possesses much uncertainty the Company reserves the right to adjust any and all activities and plans announced in its press release today.
About Tautachrome
Tautachrome, Inc. (OTCQB:TTCM) is an emerging growth company in the smartphone imagery technology sector. Tautachrome has revolutionary already-issued trusted imagery patent claims, already approved and soon to be issued Talk-to-the-Picture social networking patent claims, and three patents pending containing further Talk-to-the-Picture social networking claims and further trustable imagery claims.
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.
Contact; Tautachrome, Inc.
Tel; +1 520 318 5578
Web; www.tautachrome.com
Investor relations; investor@tautachrome.com