ORO VALLEY, Ariz., May 12, 2017 (GLOBE NEWSWIRE) -- 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
