Replies to post #38071 on Tautachrome Inc (TTCM)

[1~Eye~Jack!!]

~ ttcm = Shares DILUTED @ .01!! ..=..OOOuch! :-(

If they think it is only worth .01,, then why is the PPS Higher then .01…??

http://ih.advfn.com/p.php?pid=news&symbol=NO%5ETTCM

During the six months ended June 30, 2015, we borrowed AU$176,225 (US$123,269) from 28 accredited investors in Australia. These promissory notes can be converted into shares of our common stock at the rate of $0.01 per share (the aggregate of which shares convertible is 17,622,500). These notes are callable by the makers at any time and contain no interest provision. We imputed interest of $148 to the date of the merger (May 21, 2015) and $3,271 from May 22, 2015 to September 30, 2015. We evaluated these instruments for the existence of beneficial conversion features and determine that none existed.

During the three months ended September 30, 2015, we borrowed AU$214,000 (about US$150,027) from 24 accredited investors in Australia. These promissory notes can be converted into shares of our common stock at the rate of AU$0.01 per share (the aggregate of which shares convertible is 21,400,000) . These notes are callable by the maker at any time and bear interest at 5%. As of September 30, 2015, we have accrued $1,651. No cash interest or principal payments have made, nor have any debt balances been converted to equity, through September 30, 2015. We evaluated these notes for beneficial conversion features and calculated a value of $40,792, all of which has been immediately expensed as interest expense as the notes are due on demand.

During the three months ended September 30, 2015, we borrowed $60,000 from seven accredited investors in the United States. These notes bear interest at 5% and are due eighteen months from the date of the note (all of which mature during the first quarter of 2017). Each note is convertible into a sum of shares which varies depending on the note date. The aggregate sum of the shares into which these notes are convertible is 11,403,657. We evaluated these notes for embedded derivates and determined that they contained such derivatives as set forth in the Statement of Financial Accounting Standard ASC 820–10–35–37 Fair Value in Financial Instruments ( herein referenced as "ASC 820"); Statement of Financial Accounting Standard ASC 815 Accounting for Derivative Instruments and Hedging Activities (herein referenced as "ASC 815"); and ASC 815–40 (formerly Emerging Issues Task Force ("EITF") Issue No. 00–19 and EITF 07–05).