Tautachrome Inc (TTCM)

[Chronic The Hemp Hog]

As of right now, TTCM owes nothing.

Except for the fact that they included the awarded damages of the default judgement on their books.

From the 10-K/A:

"Loss on Litigation
 
As discussed in Note 8 to the financial statements, we had a loss of $2,382,374 related to a consultant lawsuit. We had no such loss in the previous year."

"Nevertheless, out of an abundance of caution, we have included in liabilities the default amount of $2,377,915 plus $4,459 interest at 4.5% from December 16, 2016, the date of the judgment, to December 31, 2016."

Look at it this way: Right now TTCM impaired the charge on their financials. You could argue that in the future that charge might come off but as of RIGHT THIS MOMEMENT they have charged the loss. You cannot say they owe nothing until that charge comes off the SEC filed 10-K report.

My opinion: I sincerely doubt that will happen anytime soon or at all.
Why? Because unless there a future motion or appeal in the first civil suit nothing will change in the default judgement. As of now the last entry in the case was the Judgement on 12/16/2016 and nothing has been filed since.

"The Company also believes that being named but not served, the default judgment in Morgan’s first lawsuit does not apply to the Company."

Ok you can believe all you want but unless you contest that in the court of law nothing will ever change and loss will stay on the books.

Please, someone tell me how without filing a single motion with the court the default judgement that is already recorded in the SEC filed 10-K/A will be removed? This is the crux of the matter pertaining to the first lawsuit.