ORO VALLEY, Ariz., July 12, 2019 (GLOBE NEWSWIRE) -- Tautachrome, Inc. (OTC: TTCM) today announced a company update including public launch of the ARknet 1.0 Social Media Utility Platform application, revenue generation milestone achievement, and a second reduction in the authorized share count.
Privacy-First Social Platform ARknet V1.0 Publicly Launched
Tautachrome is excited to announce the public release of ARknet 1.0. Individuals currently enrolled in the IOS and Android testing programs are the first to receive this release with submission to the app stores for approval to follow. Upon app store approval we anticipate ARknet 1.0 to be available for download in The United States, Canada, and Australia. This version will allow for user adoption to begin on the network and will give users the ability to add credits to their account which can be used to create private and privately shared geolocated augmented reality objects. Qualified users will be able to publish content publicly.
Our technology partner Honeycomb Digital is governing engineering, and deployment of the Platform’s capabilities. Leveraging the Honeycomb Archive enterprise platform allows for rapid development of new versions and features. Versions 1.1 and 1.2 are slated for release in the upcoming months.
A growing ARknet community has come to life around the ARknet platform and its broad application for business and personal use. With a passionate community and the ability to allow everyday users to juggle complex data objects, ARknet is poised to be an essential Internet communication tool with privacy and security at its core.
On 8/25/19 we will attempt to set a Guinness Book world record for the largest scavenger hunt using the new ARknet platform. Over 750 Augmented Reality Arks will be hidden across all 50 states with clues to each hidden Ark. These hidden ARks can only be collected by visiting the physical locations. Teams must be no less than 4 people, but no more than 10 people so choose your team mates wisely. Please visit www.ARkhunt.io for more information. Join us and be a part of setting a new world record!
Revenue Generation Milestone Achievement
The company is also pleased to report that with this release we are now generating revenue within the ARknet platform via credit card purchases. Creating a sustainable revenue model has been one of our goals for some time. Revenue from ongoing activities within the app will allow us to continue to improve the features and functionality of the app as well as provide a solid path for growing the company and increasing shareholder value.
Five Hundred Million Reduction in the Authorized Share Count
In March the company increased its authorized shares from 4 billion to 6 billion in order to accommodate reserve requirements that we were obligated to fulfill. Last month we announced the reduction in authorized shares from 6 billion to 5 billion. Tautachrome is pleased to announce that a further reduction of 500 million authorized shares is in process. This will be noted by the Secretary of State of Delaware and by our transfer agent in due time. This second reduction in shares authorized brings our share count down to 4.5 billion. We would like to again state that we have no plans or intentions of conducting a reverse split of Tautachrome stock now or in the future.
Additional Tautachrome Statement
We are truly grateful for the patience and support of Tautachrome shareholders! Please join the conversation on our KlickZie/ARknet supporter’s telegram group at (www.t.me/KlickZie) and our Facebook group at (www.facebook.com/groups/2427118534011055/).
The company posts important information and updates through tweets from the official company twitter page at (https://twitter.com/Tautachrome_inc).
About Tautachrome, Inc: Tautachrome, Inc. (OTC:TTCM) is an emerging growth company in the Internet applications space. The company has revolutionary patents and patents pending in augmented reality, smart-phone image authentication and imagery-based social networking. The company is leveraging these technologies to develop privacy and security-based applications for global business and personal use.
Forward-Looking Statements: 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, risks of managing growth, governmental regulatory risks, technology development risks, schedule slippage risks, 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.