TMM, INC. FINANCIAL STATEMENTS - SEPTEMBER 30, 2011 AND DECEMBER 31, 2011
WILMINGTON, DELAWARE -- February 2, 2012 - TMM, Inc. (PINK SHEETS:TMMI) ("TMMI" or "the Company") is pleased to announce that the Company has prepared financial statements for the financial quarters ending September 30, 2011 and December 31, 2011. These financial statements are based on the most current information available that could be assembled over the last few months. However, given the disarray of the Company's financial information at the time that the new Board of Directors and management took control of the Company in October 2011 and the lack of cooperation from the previous management in providing historical books and records of the Company, additional material financial information may be discovered going forward. In such case, these financial statements will be revised accordingly.
The Company is still in the process of gathering and organizing the Company's corporate governance documents and intellectual property records. The Company is developing its TRUDEF™ Technology which is the successor of the Company's VDK2.0 SoftVideo™ fractal compression technology which was first under development in the 1990's. The Company is initially developing its own Microsoft Media Foundation 2012 library supporting TRUDEF™ Fractal Video Compression in Windows Vista, Windows 7 and Windows 8. Microsoft Media Foundation is the next generation Multimedia platform for Windows that enables developers, content providers and consumers to embrace the new wave of premium content. The Company's goal is to complete development of its TRUDEF™ technology to make it commercially viable to meet the demands of the growing 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.
118 School Road
Wilmington, DE 19803
--- end ---