WILMINGTON, DELAWARE - November 7, 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, 2013 for private investors and which has raised $1,410,000 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 be using the Subscription proceeds to further modernize and commercialize the TRUDEF™ video compression technology and to construct a prototype server farm for demonstration of production scalability, image enhancement and processing speed. The Company will continue to develop and incorporate the TRUDEF™ codec based on the VDK 1.0 to 1.4 source code purchased from Iterated Systems Inc. into a myriad of commercial products to meet the demands of the exponentially expanding video market.
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.
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