Tautachrome Inc (TTCM)

[Matt1963]

This is an interesting case:

https://www.sec.gov/news/press-release/2022-172

"According to the SEC’s complaint, Patten, Coker Sr., and Coker Jr., who was the former Chairman of the Board of Hometown International, took control of the outstanding shares of Hometown International and a separate shell company, E-Waste Corp., artificially inflated the price of both issuers’ stock through manipulative trading, and used the entities to acquire privately-held companies in reverse mergers, with the intent to thereafter dump their shares at grossly inflated prices. Before the defendants were able to reap the intended profits of the schemes, as alleged, numerous news articles were published discussing the issuers’ inflated stock prices.

“We allege that the defendants’ brazen schemes resulted in the artificial inflation of the stock price of two publicly traded companies with little to no annual revenues,” said Scott A. Thompson, Associate Director of Enforcement in the Philadelphia Regional Office. “Such manipulative schemes diminish the trust investors must have in the integrity of the markets, and we will pursue those who engage in such wrongdoing.”

I think people are stuck playing games in the rhetoric of CON this and that here. So, to put this to bed, what needs to happen is threefold:

1) TTCM need to account for every penny they have spent under General Expenses/Development/Consultancy Fees and provide a drill down into precisely who was paid what, for what, and what was delivered in return for the fees paid. There will be an audit trail including scopes of work (with KPI's/Deliverables), billings, and actual invoices paid. For each project, there should also be supporting documentation detailing the RFP/RFQ/RFT demonstrating how the company attempted to get the best value for the job to be undertaken by offering the project out to multiple potential vendors, and in so doing, prevent any accusations that they did not seek alternative quotations and kept the project with one vendor only. SH's are entitled to see this information.

2) TTCM insiders must account for all share transactions over the last 5 years (both directly and through proxies). Most especially, these should cover the period Mar - Nov 2019 when the share price was pumped to 3 cents (largely through social media posts and online vehicles like the HODL group. I like I'm sure many here, have all the names of those protagonists) and then dumped real quickly (this also occurred during Feb 17). I refer back to a video conversation that took place where one of the Directors of the company admitted to being an "anonymous trader". That needs to be squared with their responsibility as a company director and defacto insider.

3) A second opinion on the valuation of the assets of the new party needs to be produced.

This is for interest:

https://www.gibsondunn.com/2022-year-end-securities-enforcement-update/