T M M Inc (TMMI)

[4retire]

fooled, for a smart guy your comprehension on this matter is inexplicable. That, or there's another agenda happening here.

DFI was formed in 1999 to help TMMI pay their bills. This was done, in part, to the large amounts of money that were made during TMMI's orchestrated pump and dump in early 2000. This is an anger point for me.

This effort was supposed to be rewarded by TMMI issuing special shares to the 29 DFI shareholders. TMMI couldn't/wouldn't fulfill their promise (I know, hard to believe). Therefore DFI issued their own shares to the shareholders. DFI wanted to buy the VDK2.0 codec from Iterated and the negotiated price was $500,000 and Itertated was to take a 5% share of DFI. DFI being an S corp couldn't issue shares to a corporation. As such DFMI was formed as a C corporation and all DFI shareholders turned in their DFI shares and were issued shares of DFMI. It is my understanding that DFMI went on to place the $500,000 to Iterated and gave them 5% ownership of DFMI by giving them the appropriate number of shares.

Therefore it appears frackedup is right. DFI never owned the codec. DFMI did. Merger/no merger, it appears to be a moot point. I remember my first hearing of DFMI was in a PR that TMMI released wherein they stated they were happy to be working with DFMI and their new codec.