Tautachrome Inc (OTCMKTS:TTCM) shares were up 0.69% on Friday to $0.0199 and flat in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.04. The company has a market cap of $73.76 million at 3 billion shares outstanding.
Tautachrome Inc is a company that operates in the Internet applications space. Formerly known as Roadships Holdings Inc, it is engaged in pursuing three avenues of business activity: KlickZie technology-based business development and monetization; Smartphone application development and digital design, and Appquisitions Division’s acquisition of revenue-generating smartphone applications.
Its KlickZie Activation Platform enables consumers to download KlickZie’s free camera upgrade software into their mobile device, which thereafter activates the pictures and videos taken by their device using KlickZie technology. Its Smartphone application development and digital design business activity will be conducted by Polybia Studios, Pty Ltd. The Company’s Appquisitions Division is created as a vehicle to acquire revenue-generating smartphone applications such as PhotoSweep, which is an application that lets users select photos from their smartphone photo albums and have them printed and sent to addresses of their choosing.
In a recent press release, Tautachrome Inc announced that it has upgraded from the OTC: Pink to the higher tier OTCQB. According to the company’s new Business Manager Eric McRae, this uplisting has these benefits: reporting to the US SEC, increased investor confidence, improved transparency of information to investors, elimination of stock fraud and stock promotion schemes, and increased trading liquidity. This represents the first major task to McRae, which he has worked diligently to complete.
There are many advantages to moving up to the OTCQB exchange, including providing investors with a greater degree of transparency. It significantly broadens the potential investor base and represents our continued commitment to enhance shareholder value,” said Dr. Jon N Leonard, CEO of Tautachrome Inc.
A few weeks back, Tautachrome Inc provided an update of the shares retired under the Share Retirement Program initiated in the fourth quarter by the company’s principal shareholders. Outstanding shares were reduced by 1,009,330,578 shares with the retirement of 80% of Dr. Jon Leonard’s common shares.
“The retirement of shares owned by the principal shareholders in exchange for non-trading preferred shares with a long holding period aims to fortify the long- term commitment that our principal shareholders have to Tautachrome. In addition, in our effort to grow company value and stock liquidity, we are deploying resources to better tell the Tautachrome story to potential investors and to raise public awareness of how our flagship KlickZie technology can beneficially affect users across the globe. This news release is an example of our commitment to keep investors fully informed of our activities,” explained Dr. Leonard.
Also, under the Share Retirement Plan, the outstanding shares will be reduced by another 370,179,802 shares with the retirement of common shares belonging to Matthew Staker and to the Nugent family trust. Outstanding shares were increased by 51,666,667 shares by conversions of some convertible notes held by investors.
Looking at the daily chart of Tautachrome Inc shares shows that price is testing the top of its near-term range and might be poised for a break higher onto $0.03 if volume keeps up. On the other hand, profit-taking at these levels could result to another test of the $0.01 support.
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