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TTC Technology Corp.(fka TCLIF)

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Last Post: 10/18/2018 1:37:05 PM - Followers: 116 - Board type: Free - Posts Today: 0

 

1.        Nature of Operations:
 
Prior to December 11, 2008, the Company and its subsidiaries developed and marketed products incorporating wireless data transmission and processing technologies, primarily for the automotive and transportation industries. The Company's primary product was a wireless tire monitoring system which it marketed for use on trucks, buses, off the road vehicles, recreational vehicles, buses and other pneumatic tire applications.
 
On December 11, 2008, the Company completed the sale of its tire pressure monitoring system business (the "TPMS Business"), along with substantially all of its assets and certain of its liabilities (the "Asset Sale"), to Bendix Commercial Vehicle Systems LLC (the "Buyer").   The Company retains the right to receive future earn-out payments due pursuant to the Asset Sale, as well as to litigate certain of SmarTire's tire pressure monitoring related patents.  The Company also retains certain operating liabilities and all of the convertible debt and convertible preferred stock that was outstanding prior to the Asset Sale (refer to note 4 for additional details).
 
2.        Going Concern:
 
The Company has incurred recurring operating losses, and as of April 30, 2009 has an accumulated deficit of $158,220,409, and a working capital deficiency of $47,181,270, of which $47,887,041 is potentially convertible into shares of common stock of the Company, subject to certain restrictions as described in note 7(l). After the Asset Sale, the Company's business consists solely of attempting to license its patents, and collecting amounts due under the earn-out, and the Company has no full-time employees and three part-time consultants.  The Company retained approximately $1.2 million of operating liabilities that were not transferred in the Asset Sale.  The Company also retained all of its outstanding secured convertible debentures and convertible preferred stock, all of which were in default as of April 30, 2009, and which are more fully described in notes 7 and 8.
 
The ability of the Company to continue as a going concern is in substantial doubt, and subsequent to the Asset Sale is dependent on several factors, including (i) the amount of future sales achieved by the Buyer in the tire pressure monitoring  business, which directly impacts amounts to be received by the Company pursuant to the terms of the Asset Sale, (ii) the amount of future revenues achieved by the Company from patent litigation, (iii) the ability of the Company to restructure its liabilities and debt obligations, and (iv) the ability of the Company to raise any additional funds required to remain as a going concern. The outcome of these matters cannot be predicted at this time. There can be no assurance that the Company will be successful in achieving any of these objectives. 
 
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=6666053

 

www.otcmarkets.com/edgar/GetFilingHtml

The number of shares of our common stock outstanding at June 19, 2009 was 19,342,461,198.
 

 

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#11834   lets pump this up I lost tons money irishiam 10/18/18 01:37:05 PM
#11833   I hope this shell goes to a MMJ unklmike 02/08/14 03:21:52 PM
#11832   E-TRADE charged me $5 to have my 5million cable 08/25/12 08:22:36 AM
#11831   I wouldn't hold your breath waiting. valleyview 04/16/12 11:23:22 AM
#11830   i got 15mill shares. Cant be that shares bladetrader 04/16/12 11:05:21 AM
#11829   I lost also. How many shares did you valleyview 03/14/12 09:58:02 AM
#11828   probably because the value is 0. valleyview 03/14/12 09:12:50 AM
#11827   Si this means that the shares i have gsxman 03/13/12 09:15:35 PM
#11826   TCLIF revoked: Renee 03/12/12 09:35:16 AM
#11825   suspension period is over racerdave42 02/15/12 08:16:56 PM
#11824   I'm confused. If all trading under "TCLIF" is cable 02/15/12 06:53:09 PM
#11823   Please buy my shares @ .0002 anyone LMAO Nasdak2012 02/15/12 11:14:41 AM
#11822   UP WITH YOU TCLIF !!!! bladetrader 02/15/12 08:07:35 AM
#11821   LOOK - LISTEN - START YOUR ENGINES TCLIF striker66 02/14/12 08:11:21 PM
#11820   Somehow it's moving slowly slowly.... banku007 02/14/12 02:35:41 PM
#11819   The suspension was up but it does not vladimirr 02/06/12 05:51:32 PM
#11818   thanx for your input and I hope it banku007 02/06/12 05:32:15 PM
#11817   It's been kicked to the grey market and BSWB 02/06/12 03:08:42 PM
#11816   Probably? Called Scott, it's tradable again alright! They Callmelucky 02/06/12 02:56:48 PM
#11815   I don't sick so. Probably they h'nt filed banku007 02/06/12 01:51:07 PM
#11814   TIA, Anyone know if TCLIF is tradable again? Callmelucky 02/06/12 07:36:42 AM
#11813   I would treat your reply as a positive banku007 01/20/12 03:39:20 PM
#11812   I think it is the end. vladimirr 01/20/12 02:22:09 PM
#11811   agree, they cant ignore their stock now as bladetrader 01/20/12 09:55:54 AM
#11810   atleast these companies are being pressured by government cable 01/20/12 06:48:37 AM
#11809   Who knows my friend....GLTA banku007 01/20/12 12:05:31 AM
#11808   oh. is that the start for s.th. big bladetrader 01/19/12 03:52:35 PM
#11807   Trading has been temporarily halted by the SEC. copper one 01/19/12 03:37:35 PM
#11806   Anyone some news on TCLIF - SMARTIRE ??? bladetrader 01/19/12 02:03:59 PM
#11805   Probably already have, who knows. I just ShierCon 01/19/12 10:08:02 AM
#11804   Agreed, though I wish that part of the BSWB 01/19/12 09:57:19 AM
#11803   About time ShierCon 01/19/12 09:52:35 AM
#11802   TTC Technology Corp. (f/k/a SmarTire Systems Inc.) (CIK BSWB 01/19/12 09:48:27 AM
#11801   TCLIF: SEC Suspension: Renee 01/19/12 09:33:04 AM
#11800   Finally, We have big transaction today...125 shares for banku007 01/17/12 08:37:27 PM
#11799   100,000,000 @.0001 to go. unklmike 01/11/12 11:31:47 AM
#11798   They haven't been in the TPMS business since BSWB 01/11/12 10:44:02 AM
#11797   :) oh yea thanks...still sitting on 10mil myself. ShierCon 01/11/12 09:43:26 AM
#11796   :-) Smart Tire Pressure Monitoring System, or s.th. bladetrader 01/11/12 09:10:17 AM
#11795   Still no bid huh? I gave up ShierCon 01/11/12 08:41:06 AM
#11794   you too! hope this will start to pick bladetrader 01/10/12 10:51:20 AM
#11793   Have a great year everyone- great your back striker66 01/10/12 09:44:07 AM
#11792   come on TCLIF! start to move ! bladetrader 01/09/12 09:44:23 AM
#11791   (TCLIF) must have been a fat finger 1tater 01/08/12 05:35:55 PM
#11790   Happy 2012 to all. Iam back from India banku007 01/07/12 04:28:47 PM
#11789   a journey begins with the first step :) racerdave42 01/06/12 03:42:03 PM
#11788   Rumble bumble! lugan 01/06/12 03:08:47 PM
#11787   Buying more of TCLIF starting to rumble!!! striker66 01/06/12 03:04:50 PM
#11786   :) hi Planopenny 01/06/12 02:34:36 PM
#11785   yes. imagin this would go up to 0,001 bladetrader 01/06/12 01:30:30 PM
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