TAUTACHROME Inc. Updates its activities, patent status and legal proceedings
May 12 2017 - 06:00AM
Tautachrome, Inc. (OTCQB:TTCM), a developer of software
applications for trustable and engageable digital pictures and
videos, today announced an update and clarification of its
activities, its patent status, and legal proceedings to which
Tautachrome or its property is the subject.
Activities. Our top priority has been our work
to develop a program with a Fortune 50 company (code named F50-1).
In this regard, we have produced booklets for them, detailing how
KlickZie technology will be applied throughout their company to
grow their market share, increase their bottom-line, and benefit
their public perception and brand recognition. These booklets have
been provided to each F50-1 board member for review.
We estimate the implementation of KlickZie technology across
F50-1 to be an investment of nearly a billion dollars. As with any
big company, it will take F50-1 some time to review an
implementation of this magnitude, not just from the perspective of
cost, but also from the perspective of process development and the
re-training of its giant, global workforce.
Implementation of KlickZie in F50-1 by Tautachrome would not
only be a important project for us, but it could serve to finance
the development and rollout of KlickZie for our global consumer
market as well.
In addition to F50-1 we have identified four additional large
companies for KlickZie implementation. Some of these
companies are Fortune 50, some are not.
The KlickZie timeline depends on financing. In addition to
our strategy of implementing KlickZie into a large company where
implementation would provide a big payoff worth the investment, we
have plans to meet with other investors who are able to help with
venture capital financing.
As a company, our infrastructure has been re-vitalized, our
patents are underway, and we have identified where the KlickZie
development will take place, and the team we will put in place. So
therefore, the only thing left to do is ink a deal that would be of
significant value to the company and its shareholders. We are
confident that the time is approaching.
Patents. Our patents (one granted last quarter,
three pending) are aimed at giving us control of the business arena
that will develop from trustable and engageable pictures and
videos. The value of a patent shows up when a merchant uses patent
infringement to exclude others from an area of trade. In the
smartphone market, Apple and Samsung have been at war for many
years for infringing each other’s patents, and the stakes are worth
billions of dollars. Patents are a long-term project. They don’t
come fast and easy. A check with the patent office today predicted
that our three pending patents won’t see Patent Office activity
until 1st quarter 2018 for the two continuation patents, and
November of this year for the Touch-to-Comm patent. Because
billions of dollars can be at stake, we believe that the work and
time involved in patent approval is worthwhile. Although patents
take time to issue, we don’t need to wait on them. The protection
they provide is locked into their application dates, not their
issue dates. We forge forward with the Company and all fronts and
let the patents catch up.
Legal proceedings. On January 9, 2017, a
complaint against Tautachrome was filed in the Superior Court of
Pima County, Arizona, by Richard Morgan, a former consultant to a
former subsidiary of Tautachrome. The complaint alleges that a
purported transfer of assets from the former subsidiary to
Tautachrome violated the Arizona Uniform Fraudulent Transfers Act
(UFTA), and in the alternative, alleges that Tautachrome is liable
for a default judgment obtained against the former subsidiary as
its successor. The remedies sought in the complaint for violation
of the UFTA include execution on all assets allegedly transferred
from the former subsidiary to Tautachrome in violation of the UFTA
and the appointment of a receiver with respect to such assets, plus
attorney’s fees. The remedies sought against Tautachrome through
the alternative claim of successor liability include damages for a
finder’s fee alleged to be due to Richard Morgan, consequential and
other damages, plus attorney’s fees.
Tautachrome’s management has reviewed the complaint and believes
that the allegations are without merit. Tautachrome is vigorously
defending itself against the complaint and its allegations. On
February 17, 2017, Tautachrome filed a motion to dismiss the
complaint under Rule 12(b) of the Arizona Rules of Civil Procedure.
A hearing of the motion was held on April 10, 2017, with the Court
reserving its decision.
Except as set forth above, neither Tautachrome nor any current
subsidiary of Tautachrome has been a party to any other litigation
or proceeding. Management is not aware of any final order or
judgment against Tautachrome or any of its current
subsidiaries.
Tautachrome remains focused on the development and
implementation its technology on the world stage for both consumer
based and institutional purposes.
Our shareholders. We appreciate you our
shareholders, and we want you to be fully informed about your
Company. We have put up a Tautachrome bulletin board where you can
interact with us and with other Company investors and spout off
from wherever you are. Check us out at:
http://www.tautachrome.bulletinboards.com.
Thank you for your continued desire to be part of what we
believe will be one of the greatest game changing technologies
ever. Now, back to work!!
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. Tautachrome has
revolutionary issued patent claims and three patents pending,
including Talk-to-the-Picture social networking and trustable
imagery-based interactions.
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
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