TAUTACHROME INC. (OTCMKTS:TTCM) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers, Election of Directors, Appointment of Certain Officers, Compensatory Arrangements of Certain Officers
Appointment of Director
On October 3, 2019, the Board of Directors of Tautachrome Inc., a Delaware corporation (the “Company”), appointed David LaMountain as a director of the Company to Section 223 of the Delaware General Corporation Law, to hold such office until his successor is elected and qualified or until his earlier resignation or removal. On October 4, 2019, Mr. LaMountain accepted his appointment as director of the Company. There are no arrangements or understandings between Mr. LaMountain and any other persons to which Mr. LaMountain was selected as a director of the Company.
Related Party Transactions
ArKnet, Inc.
Mr. LaMountain served as President of ArKnet, Inc. (“ArKnet”) until October 4, 2019 and is currently a shareholder of ArKnet. On October 17, 2018, the Company executed a License Agreement with ArKnet to which the Company received certain technologies aimed at the global household goods and services market in exchange for the right to receive on-going cash royalty payments to ArKnet (none of which have been received as of the date of this report) and 40,000 shares of Convertible Preferred Series E Stock, issuable to ArKnet on or before April 17, 2020. ArKnet is also a current shareholder of the Company.
Promissory Notes
The Company has issued promissory notes in the principal amounts of $75,000 (issued on May 17, 2017), $27,000 (issued on July 19, 2017), $5,000 (October 13, 2017), $2,000 (issued on August 20, 2018), $2,683.53 (issued on August 20, 2018), $1,052.96 (issued on August 20, 2018), $2,088.21 (issued on August 20, 2018), $10,000 (issued on August 20, 2018), and $10,000 (issued on August 20, 2018) to Mr. LaMountain as evidence of funds loaned to the Company by Mr. LaMountain.
Resignation of Director
On October 10, 2019, Matthew Staker resigned from all positions held in the Company. Mr. Staker served as director of the Company. Mr. Staker’s resignation was not caused by any disagreement with the Company known to the Company.
About TAUTACHROME INC. (OTCMKTS:TTCM)
Tautachrome, Inc., formerly Roadships Holdings, Inc., operates in the Internet applications space. The Company is engaged in pursuing three avenues of business activity: KlickZie technology-based business development and monetization; Smartphone application development and digital design, and acquisition of revenue-generating smartphone applications. Its KlickZie Activation Platform will enable consumers to download KlickZie’s free camera upgrade software into their mobile device, which thereafter activates the pictures and videos taken by their device using KlickZie technology. The Company’s Smartphone application development and digital design business activity will be conducted by Polybia Studios, Pty Ltd. The Company’s Appquisitions Division is created as a vehicle to acquire revenue-generating smartphone applications. Its PhotoSweep is an application that lets users select photos from their smartphone photo albums, and have them printed and sent to addresses of their choosing.
