I for one do not think any previous errors by TH make any difference to TTCM and its future.
" In action taken December 12, 2022, David LaMountain, the Company’s CEO, retired 43,177,151 of his shares of the Company’s common stock, returning them to the Company’s treasury, in exchange for 431,771 shares of vote preserving, but non-tradable Series G preferred shares of the Company.
So there is nothing for David to sell or conceal,
And from reading the 8-K's the shares David returned to the company will not be eligible for resale. Which means Outstanding Shares will be reduced, plus with the 50 for 1 Reverse Split, there will also be less shares available, Although there is nothing to stop a reissue or shares being voted in by the board, which includes David and Tim H.
All this raises question of the Preferred Shares held by DL and TH, from my understanding of the rules (and correct me if I am wrong) All preferred shares are replaced with a new preferred share or exchanged for a cash buy out! As David and Tim had their Preferred Shares issued prior to the forecast reverse split, Will they be rewarded in Cash or Shares ?
Overall which ever occurs, I think the result will benefit the shareholders as there will be less shares available as new investors jump on board, that is of course unless the markets consider the RS as a bad omen which would / could create a sell off.
As has been mentioned the B$3 value makes the company look to be solvent, and therefore there is / will be no toxic debt.
Oh and not forgetting the new patents in the pipe line, and the value they will bring to the company can and should increase the company value. Which points to a good future for shareholders..
PS: looking at other companies who conduct a Reverse Split, it is because of financial problems and an attempt to avoid Bankruptcy, TTCM is not and has not shown any signs of filing a Chapter 13 or Chapter 7 which means all proposed plans have to be taken positively.
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