WILMINGTON, DELAWARE - March 27, 2014 -- TMM, Inc.(OTC PINK: TMMI) ("TMM") ("TMMI") or (the "Company") today announced that it has selected a corporate auditor and completed a private placement financing.
The Company is in a position to prepare audited financial statements. Cutler & Co., LLC has been engaged to audit the financial years of 2012 and 2013 once the 2013 management prepared financial statements are completed and filed with OTC Pinksheet.
The Company has successfully completed a private subscription offering initiated in January 2014 which raised USD $1,234,000. 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 USD $0.15 per share until December 31, 2019. This announcement shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
About TMM, Inc.
TMM, Inc. (Pink Sheet: TMMI) ("TMMI") ("TMM") is a technology company headquartered in Wilmington, Delaware, specializing in digital video compression and image management. Founded in 1990, the company is dedicated to improving bandwidth utilization and video image quality. TMMI develops digital video compression technology that provides end-to-end workflow and distribution solutions for digital cinema; streaming media; cable TV; sports; mobile; intelligence, surveillance and reconnaissance; defense; security; medical imaging; space exploration; gaming and education.
ON BEHALF OF THE TMMI BOARD OF DIRECTORS OF TMM, INC.:
GERARD V. CAVANAUGH
CHAIRMAN AND PRESIDENT
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.