TMM, Inc. Completes Subscription Offering to Private Investors
January 06 2012 - 4:05PM
Marketwired
TMM, Inc. (PINKSHEETS:TMMI) ("TMMI") or (the "Company") is pleased
to announce that the Company has successfully completed its
Subscription Offering which was initiated in late October, 2011 for
private investors and which has raised $500,000 U.S. for the
Company. The $0.02 per Unit offering consisted of one share of TMMI
common stock and one Warrant to purchase one additional share of
TMMI common stock at $.05 per share within three (3) years.
The Company will use the Subscription funds to cover its
expenses associated with gathering and organizing the Company's
corporate governance documents and intellectual property records.
In addition, such Subscription proceeds will enable the Company to
continue developing its TRUDEF(TM) Technology which is the
successor of the Company's VDK2.0 SoftVideo(TM) fractal compression
technology which was first under development in the 1990's. The
Company is currently developing its own Microsoft Media Foundation
2012 library supporting TRUDEF(TM) Fractal Video Compression in
Windows Vista, Windows 7 and Windows 8. Microsoft Media Foundation
is the next generation Multimedia platform for Windows that enables
developers, content providers and consumers to embrace the new wave
of premium content.
The Company's goal is to complete development of its TRUDEF(TM)
technology to make it commercially viable to meet the demands of
the growing high definition video market.
ON BEHALF OF THE TMMI BOARD OF DIRECTORS OF TMM, INC.:
Gerard V. Cavanaugh, Chairman and President
For more information, please visit the Company's Website at
http://www.tmmi.us.
Safe Harbor Statement
The information in this release contains forward-looking
statements which involve risks and uncertainties, including
statements regarding the Company's capital needs, business strategy
and expectations. Any statements contained herein that are not
statements of historical fact may be deemed to be forward-looking
statements, which may be identified by terminology such as "may",
"should", "will", "expect", "plan", "intend", "anticipate",
"believe", "estimate", "predict", "potential", "forecast",
"project", or "continue", the negative of such terms or other
comparable terminology. Readers should not rely on forward-looking
statements as predictions of future events or results. Any or all
of the Company's forward-looking statements may turn out to be
wrong. They can be affected by inaccurate assumptions, risks and
uncertainties and other factors which could cause actual events or
results to be materially different from those expressed or implied
in the forward-looking statements. Factors may cause the Company's
actual results to differ materially from any forward-looking
statements. In addition, new factors emerge from time to time and
it is not possible for the Company to predict all factors that may
cause actual results to differ materially from those contained in
any forward-looking statements. The Company disclaims any
obligation to publicly update any forward-looking statements to
reflect events or circumstances after the date of this document,
except as required by applicable law.
Contacts: Via Mail: TMM, Inc. 118 School Road Wilmington, DE
19803 Telephone: 1-800-821-9877 E-Mail:info@tmmi.us
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