Tautachrome Inc (TTCM)

[boatlife]

On May 1, 2015, the Registrant entered into a Letter of Intent with Brian Wadley and WITS Holdings Pty Ltd. (“WITS”) of Wetherill Park, NSW, Australia, with respect to a proposed acquisition of all the issued and outstanding shares of WITS (the “WITS Shares”) by the Registrant (the “Acquisition”). WITS carries on a transport business in Australia under the business names of “Wadleys Interstate Transport Services Pty Ltd.” and “Wadley Interstate Transport Services.”

The non-binding provisions of the Letter of Intent set forth the parties’ understanding that the Registrant will acquire the WITS Shares in exchange for 2,400,000 restricted shares of the Registrant’s common stock and a cash payment of A$12,000,000 ($9,532,800). The closing of the acquisition of the WITS Shares is expected to occur at 3:00 p.m. on June 30, 2015, at the WITS offices. It is further understood that Mr. Wadley will not compete anywhere in Australia with WITS or the business now carried on by WITS for a period of five years from the closing of the Acquisition.