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DLM loves vague, meaningless responses. And for some reason, the people on Telegram just accept them.
Maybe you guys should ask DLM why people are dumping today.
He knows the answer.
It’s fraud. It just hasn’t been proven yet because nobody has bothered to file a court case yet.
Nah it’s fraud. The licensing agreement alone is probably enough for a lawsuit on the grounds that Jon violated his fiduciary duty to shareholders. A lot of the press releases appear to be blatant attempts to manipulate share price and volume around convertible debt conversion dates.
After a whole year of “progress”, shares are back to the lows seen last November and December.
8.3 million shares now in the first hour. Compared to 10-day average of 5.7 million for the entire day. Someone knows something. And I think I know what it is.
Down 8% on high volume. Hmmmmm what’s going on here guys?
The SEC could suspend trading of $TTCM just like they suspended trading of that other company Jon oversaw as a board member.
But I doubt that will happen. The SEC rarely engages with penny stock scams.
It’s far more likely that a disgruntled former shareholder or group of them brings a case against Tautachrome.
The SEC doesn’t publicize investigations, so you’re not in a position to know that.
And in two months you’ll be saying the same thing. It’s always “just wait x months” but then the months pass and nothing happens.
I think someone should ask about the digital Chuck E. Cheese tokens we were promised we would be getting in September.
1) This isn’t a startup. That’s not an excuse. We’re talking about a company that has been public for almost six years. It only looks like a startup because it hasn’t accomplished anything. But it’s not.
2) You don’t get to just waive your hands and make the law go away. The law still applies to OTC companies.
If you file a PR for say a fundraising effort aimed at raising $50 million, then you raise zero dollars, there is a question about whether or not that PR was market manipulation. Again, this has been litigated in the past.
That would be determined based on whether or not there was a basis for that PR. That basis can’t be “well we just thought $50 million was a good number.” You don’t just get to file random PRs that have no basis in reality. So, in the case of a lawsuit, a court would look at the facts and circumstances and determine whether or not the events discussed in the PR were connected to some kind of transactions that were likely to occur. If not, it could be considered market manipulation.
The SEC rarely enforces these rules because it’s the OTC market and everyone is doing it.
Press releases with no commercial basis that increase the share price and volume are considered market manipulation or “pumping”. We have plenty of these kinds of communications dating all the way back to 2017.
I think this is circling the toilet bowl now. We’ve got XAR and then the NFT marketplace left. There’s not many pumps left in this. The e-commerce biz failed. The social media biz seems to be going nowhere. The AR stuff really hasn’t gotten better since the app was launched. The knockoff Zoom videoconferencing doesn’t seem to be going anywhere. XAR is already a recycled idea. They’re all cheap knockoffs. All that’s left is for the NFT marketplace to fail. I guess maybe they’ll start recycling the old pumps, but that’s going to turn a lot of people away.
Let’s stay on topic. Are we getting our Chuck E. Cheese tokens in the next three days or not?
I think we were promised digital Chuck E Cheese tokens by the end of this month, correct? Wonder if that will actually happen.
If Tautachrome isn’t a scam, it’s the most stupidly managed organization I’ve ever seen.
It’s one or the other.
Saying, “Oh, well this is a new company so it’s not supposed to be profitable or have a good product yet,” is the kind of vague dismissal of these concerns that is exactly what I’m talking about. It doesn’t address the underlying issue that revenue and users haven’t even begun moving in the right direction after two years and millions spent. It doesn’t take this long to develop an app.
I also understand that the concerns related to convertible debt and licensing agreements based in revenue are a little complicated for most people, so here is the key takeaway: I’ve never seen a legitimate company do these things because it destroys value for common shareholders. The company exists to benefit its shareholders, not the other way around.
That’s a ridiculous conspiracy theory.
We have been discussing legitimate complaints for years. Lack of users and revenues. Awful user interface and lots of errors with the app. A licensing agreement that takes advantage of common shareholders. No clear path to being able to eschew convertible debt as a primary source of financing cash burn. Press releases that are never followed by any notable developments. $2 million in shares given for what appears to be nothing more than stock promotion.
All of these complaints have been dismissed. I don’t know that I’ve ever seen anyone who is allowed to speak on behalf of Tautachrome say, “Yes, this is a problem, and this is how we plan to address it.” The response is either a dismissal or silence followed by other people accusing the person asking the question of FUD.
I’m just really confused here. If Tautachrome is different from other OTC stocks and is not a fraud, why does it do everything just like other OTC stocks? And why are we supposed to pretend that we don’t notice the red flags (related party transactions, multiple share classes, massive dilution, ineffective board) that Tautachrome shares with proven frauds?
I thought that bulls wanted me to believe that Tautachrome was different the other OTC stocks? How can that be the case when everything about it, including the fact that shareholders don’t elect the board and the board has no real purpose, is the same?
Shareholders voting on the board is the norm. Seems to works well for other companies. Companies like Apple and Amazon.
It seems to me like you’re implying that $TTCM shareholders are too stupid to even vote on board members. Which doesn’t make sense at all. Because I thought that Tautachrome bulls believed that they were uniquely intelligent and insightful, and that these abilities allowed them to see the opportunity in $TTCM where everyone else did not. And now you’re saying that they can’t even vote on board members? I’m confused.
No, the BOD doesn’t exercise any control over DLM and Jon. DLM and Jon own the BOD. They appoint the members. This is completely backwards. Shareholders are supposed to vote on the board. Then the board is supposed to oversee management. Clown show.
Nobody is saying that there is anything wrong with this guy.
Everyone is saying that he does nothing to provide credibility since Tautachrome’s board doesn’t actually exercise any control over management. Potemkin village.
Shares down again on low volume. Not good. The end could be near.
What are the duties of the board? Is their an audit committee? Is there a comp committee? Do they ever have meetings? Of course not. Because the board is all for show.
Theranos had a number of high ranking government officials on its board, including James Mattis (secretary of defense), Henry Kissinger (secretary of state), Sam Nunn (senator), etc.
It doesn’t matter who is on your board if those people can’t/don’t provide effective oversight of management. Again, I’ve seen zero evidence that Tautachrome’s board serves any purpose other that providing DLM another thing he can point to when people accuse Tautachrome of being a fake company.
The board is supposed to control the management team. The board doesn’t control management (DLM and Jon) at this company. It’s backwards. DLM and Jon control the board. It’s just another tool for DLM to use to creat the impression that Tautachrome is a real company and not a convertible debt scheme.
If that feature is unusable, why is it even available? Real companies don’t beta test on actual users. That will just end up confusing people and creating a very poor experience.
But I guess this is what happens when you don’t have a real management team and struggle to raise funds to continue development.
How was it well received when it’s generated exactly $0 in revenue and the share price is lower now than it was three years ago? How exactly are you measuring success here? Because all of the ways I would measure it (revenue growth, user growth, share price appreciation, etc.) indicate complete failure. And don’t tell me, “It just needs more time.” We’ve had years at this point for this to all play out.
I just laid out the logic for you. If a company tells you every little tiny detail about everything remotely good that happens to them, then the absence of that communication indicates that nothing good has happened.
So if you’re not willing to provide details SEVEN MONTHS later, you probably didn’t have a basis for filing that press release.
Look like the $50 million fund raise failed to attract ANY investors. Whenever there is any development that is even remotely positive, Tautachrome promotes it heavily. If even $1 million in new investment was secured, DLM would be telling everyone. The fact that he dismissed the question about new investment is a dead giveaway. His response was also pretty insulting. It’s totally fair for investors to ask for updates on major issues after seven months. If you can’t give updates on these kinds of activities, you never should have filed a press release in the first place.
That’s weird because I never have any “compatibility issues” with any of the other several dozen apps I have on my phone.
They already increased the AS a couple of months ago.
No it’s unacceptable to have this many issues with the app at this point. It was launched two years ago. All these issues are proof of it being extremely low budget trash.
When will XAR be launched? They just pushed through another buggy update? Doesn’t look like the app is ready for XAR. Nobody is going to trust a buggy app with their money.
No, you just simply wouldn’t invest in early stage tech companies that aren’t making progress in growing revenue and/or adding users.
I’m not sure why you think that this is a “cheap investment”. Even if this company did have the “core material” you would get diluted into oblivion long before it ever achieved profitability. But it doesn’t have the “core material”. Remember the licensing agreements with DLM and Jon? That agreement almost ensures that common shareholders will never see a cent of free cash flow even assuming the business performs well.
Oh now it’s just in beta mode? Because Tautachrome launched a marketing campaign “Main St vs Wall St” for Main St Shopping a year ago. Then one of their press releases in February described the app as “maturing”. Time to face reality. Claiming that the app is in “beta mode” is just an excuse for poor performance. It’s like losing and saying “oh well I wasn’t trying very hard you would’ve lost if I was actually trying.”
We are discussing an investment here. Revenue and users are the most important measures of performance. Most software, social media and e-commerce companies that haven’t achieved profitability derive their valuation from these two things. Your own personal definition of progress doesn’t matter. This isn’t T-ball. There’s no “best attitude” award.
It looks like the most recent app update has a lot of errors. Not good for a company that is supposed to launch a cryptotoken this month. I wouldn’t want my money anywhere near an app with that many bugs.
To be clear, you’ve redefined progress in a way that allows you to claim that Tautachrome is making progress. That’s ridiculous. Progress is measured by the market in users and revenue. It doesn’t matter if the app is updated if people don’t use the app. And it doesn’t matter if progress is occurring in some narrow way that you define. It only matters if that progress is recognized by the market.