TAUTACHROME Inc. announces proposal from its principal shareholders for retirement of their own common shares in exchange for preferred shares under a new series
ORO VALLEY, Ariz., Sept. 30, 2016 (GLOBE NEWSWIRE) -- Tautachrome, Inc. (OTC-PINK:TTCM) today announced receipt of a proposal from its principal shareholders to reduce their common share holdings in exchange for shares in a new series of non-trading preferred shares.
Robert G McClelland Tautachrome's Corporate Secretary announced today that three of the Company's principal shareholders, Dr. Jon N. Leonard, Micheal P. Nugent, and Matthew W. Staker, have approached the Company's Board of Directors with an offer that would reduce the Company's issued and outstanding common shares by exchanging, in incremental steps, a substantial portion of their own common shares for a new series of non-trading preferred shares. In an email making the proposal, Dr. Leonard wrote, "We hope that this action will benefit the Company as well as signal our long haul commitment to the Company and its flagship KlickZie technology."
About Tautachrome, Inc.
Tautachrome, Inc. (OTC-PINK: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.
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.