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Monday, April 18, 2016 1:11:42 PM
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Issued Shares = DILUTION!!
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On January 15, 2016, Tautachrome Inc. (the "Registrant") completed the acquisition (the "Acquisition") of Photosweep, LLC, an Arizona limited liability company ("Photosweep"). Photosweep is the developer and operator of a software application for mobile devices that allows each user to order prints of digital photographs on the user's mobile device to be delivered at such date and location in the United States that the user may specify.
Under the terms of the Acquisition, the Registrant paid $39,000 and issued 13 million shares of its common stock (the "Acquisition Shares") to acquire all the member interests in Photosweep (the "Member Interests") from Jeremy Snyder, Sara Snyder, Richard and Candice Snyder, Quazar Enterprises Limited and Carrington Capital Group Limited (the "Photosweep Members").
The number of Acquisition Shares issued for the Member Interests was determined by negotiation between the parties to the Acquisition and was approved by the Registrant's board of directors as being fair and in the best interest of the Registrant.
The Acquisition Shares were issued as fully paid and non-assessable under an exemption from registration provided by section 4(2) of the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Each of the Photosweep Members has represented such member's intention to acquire the Acquisition Shares for investment only and not with a view to or for sale in connection with any distribution thereof. No general solicitation was made in connection with the offer or sale of the Acquisition Shares.
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