Tautachrome Inc (TTCM)

[Huggy Bear]

nothing remains of roadships here at all malc

Not so sure about that one personally.

According to our agreement with Mr. Nugent, we accrue interest on all unpaid amounts at 5%. Principal and interest are callable at any time. If principal and interest are called and not repaid, the loan is considered in default after which interest is accrued at 10%.

The outstanding balance due to the 22 nd Trust at June 30, 2016 is $31,279 and $8,827, respectively, for principal and interest. At December 31, 2015, the outstanding balances were $80,108 and $6,637, respectively.

TTCM still owes Nugent money.

On April 20, 2015, the Registrant and Tamara Nugent, as trustee for Twenty Second Trust, entered into a Common Stock Repurchase Agreement whereby the Trust agreed to sell 1,796,571,210 shares of the our common stock to the Company in exchange for the sum of $17,966 in the form a promissory note.


During the year ended December 31, 2015, we issued 6,156,179 shares for services to several consultants according to our agreements with them. We valued these shares at the pre-merger valuation which was based on private equity raises done in 2013 and 2014 ($0.012 per share) and recorded an increase in Capital Stock and Additional Paid in Capital of $73,601. Included in these shares were shares promised and accrued for before December 31, 2014. We therefore reduced Common Stock Payable by $26,667 to zero.

Consultants for a company for zero actual operations were issued shares, great.

Sale of Roadships Holdings’ Assets

On September 18, 2015, we entered into an agreement with Novagen Ingenium Inc, a Nevada corporation (“Novagen”) under which we agreed to sell to Novagen all of the transportation assets of Roadships which had, at the time of the exchange, carrying values of zero, for 2,000,000 shares of Novagen common stock. Shares of Novagen’s common stock are quoted under the symbol “NOVZ” on the OTC Pink operated by OTC Markets Group, Inc. Novagen’s controlling shareholder is Micheal Nugent who is on our Board of Directors and is a major shareholder. Since the shares represent a transaction with a related party, we recorded the value of these shares at zero.

So turns out RDSH never had any assets whatsoever. Classic Michael Nugent move it appears.


http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11604896

How many common shares of TTCM does Michael Nugent still own?

http://www.smh.com.au/national/the-menace-of-magnetism-20110416-1diuk.html

Mr Nugent also liked to tell people he had clearance from NASA to speak to its top scientists about his engine.

But his business empire is a charade. The Australian Securities and Investments Commission has twice taken action against him, for illegal fund-raising and for deceptive conduct. The Supreme Court of Queensland has ruled that his magnetic engine does not work - and cannot work. The Queensland Court of Appeal upheld that decision.

Claims for Mr Nugent's engine are more audacious than the Firepower ''pill'', which claimed merely to drastically cut fuel consumption.

His other ventures - based on a road-and-shipping integration concept in several companies with variations of the name Roadships - are also charades.