Tautachrome Inc (OTCMKTS:TTCM) shares ticked 0.69% higher on Friday to $0.0199 and were 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.
In a press release last week, Tautachrome Inc shared that it has upgraded from the OTC: Pink to the higher tier OTCQB and has begun trading on that exchange since December 12.
“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. “I am especially pleased that this was the first major task assigned to Eric McRae, our new Business Operations Manager, and he worked diligently and successfully completed this important assignment.”
According to McRae, uplisting also allows Tautachrome Inc to report to the US Securities and Exchange Commission, enjoying stronger protection from stock fraud or stock promotion schemes. It can also enjoy increased investors confidence and higher liquidity as it complies with stricter reporting and compliance requirements.
This follows the company’s announcement of reducing oustanding shares by 1,009,330,578 shares with the retirement of 80% of Dr. Jon Leonard’s common shares. 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.
“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,” Dr. Leonard explained. “This news release is an example of our commitment to keep investors fully informed of our activities.”
Formerly known as Roadships Holdings, Inc, Tautachrome Inc operates in the internet applications space. As such, it is engaged in pursuing three avenues of business activity: KlickZie technology-based business development and monetization, Smartphone application development and digital design, and acquisition of revenue-generating smartphone applications.
Its KlickZie Activation Platform will enable consumers to download KlickZie’s free camera upgrade software into their mobile device, which activates the pictures and videos taken by their device using KlickZie technology. The Smartphone application development and digital design business activity will be conducted by Polybia Studios, Pty Ltd and its Appquisitions Division is created as a vehicle to acquire revenue-generating smartphone applications. Its PhotoSweep is an application that lets users select photos from their smartphone photo albums, and have them printed and sent to addresses of their choosing.