Tautachrome Inc (TTCM)

[Matt1963]

As previously stated about TTCM's latest financial results, "Net comprehensive income" is due almost entirely to two elements. 1) TTCM's favorable currency exchange and 2) TTCM's "change in the value of derivatives". Regarding the 2nd item, a positive change in TTCM's "derivative liability" ((i.e. meaning that instead of having a debt (and debts are liabilities, not assets) of $1.4M on the books, they now have a debt of $804K)). TTCM have reduced their derivative liability, thus affording them the simple accounting trick of including this positive change (lowering a debt liability) in the "comprehensive income" line item of these latest accounts. This can hardly be considered "real" income to the business.

TTCM's latest Financials are in no way demonstrable of increased sales revenues, profits, and business growth and the notion that TTCM is in any way, making money, or indeed, turning the corner is wrong. As a "for-profit" company, TTCM is in dire straits financially.

2021 2022

Cash $119K $123
TA $145K $ 18K

TL $4.8M $4.8M

And the real kicker:

Net Operating Loss (Carried forward) 2021 EOY $8.1M, 2022 to June 30th $8.7M

In the first 6 months of 2022, having carried forward $8M in losses from the previous year, they added another 600K. That's quite a burn rate and means they are hemorrhaging cash to the tune of $3,300/day, which for a business of this nature is totally unsustainable.