TMM Inc Completes Subscription Offering to Private Investors
February 14 2013 - 11:01AM
OTC Markets
Wilmington,
Delaware – February 14 , 2013 - TMM, Inc. (TMMI-PK) (“TMMI”) or
(the “Company”)
is pleased to announce that the Company has successfully completed
its
Subscription Offering which was initiated in May, 2012 for private
investors
and which has raised $1,830,000 U.S. for the Company. The $0.10 per Unit offering
consisted of one
share of TMMI common stock and one Warrant to purchase one
additional share of TMMI
common stock at $.15 per share within three (3) years.
The Company will
use the Subscription proceeds to further modernize and
commercialize the TRUDEF
™ codec technology. The Company will vigorously protect its
interests in the VDK
1.0 to 1.4 Fractal codec purchased in 1993 from Iterated Systems
Inc. and a
later version of the codec in the acquisition of Digital Focus Inc.
in 2012.
The Company’s immediate
goal is to complete the modernization of its TRUDEF™ technology and
to incorporate
TRUDEF™ into a myriad of commercial products to meet the demands of
the exponentially
expanding high definition video market.
ON BEHALF OF THE
TMMI BOARD OF
DIRECTORS OF TMM, INC.:
GERARD V.
CAVANAUGH
CHAIRMAN AND
PRESIDENT
For more
information, please visit the Company’s Website at
http://www.tmmi.us.
Safe Harbor Statement
The information in
this release contains forward-looking statements which involve
risks and
uncertainties, including statements regarding the Company's capital
needs,
business strategy and expectations. Any statements contained herein
that are
not statements of historical fact may be deemed to be
forward-looking
statements, which may be identified by terminology such as
"may,"
"should," "will," "expect," "plan,"
"intend," "anticipate," "believe,"
"estimate," "predict," "potential,"
"forecast," "project," or "continue," the
negative of such terms or other comparable terminology. Readers
should not rely
on forward-looking statements as predictions of future events or
results. Any
or all of the Company's forward-looking statements may turn out to
be wrong.
They can be affected by inaccurate assumptions, risks and
uncertainties and
other factors which could cause actual events or results to be
materially
different from those expressed or implied in the forward-looking
statements.
Factors may cause the Company's actual results to differ materially
from any
forward-looking statement. In addition, new factors emerge from
time to time
and it is not possible for the Company to predict all factors that
may cause
actual results to differ materially from those contained in any
forward-
looking statements. The Company disclaims any obligation to
publicly update any
forward-looking statements to reflect events or circumstances after
the date of
this document, except as required by applicable law.
Contact:
Via Mail:
TMM Inc.
118 School Road
Wilmington, DE 19803
Telephone:
1- 800 821-9877
E-Mail:
info@tmmi.us
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