Traccom Inc. Announces Plan to Revise Terms of Reg A+ Tier 2 Offering

Rhea-AI Summary

Traccom (OTC Pink: TRCC) announced a price reduction for the remaining 336,228 shares in its Reg A+ Tier 2 offering, decreasing the price from $2.85 to $1.82 per share, aiming for total proceeds of approximately $601,419. The funds will be allocated primarily for inventory production and corporate operating expenses, subject to SEC approval of the post-effective amendment filed on June 17, 2022. The company is gearing up for full production of its two breakthrough products in healthcare and tracking technology.

Positive

• Reduced share price may attract more investors.
• Proceeds will be allocated toward inventory production and corporate expenses.
• Products ready for full production could enhance revenue opportunities.

Negative

• Share price reduction may signal weaker demand or investor confidence.
• Limited liquidity in the Company's stock may affect trading.

WALNUT CREEK, Calif., June 20, 2022 (GLOBE NEWSWIRE) -- Traccom Inc. (the “Company”) (OTC Pink: TRCC) announces that the Company plans to reduce the price of the remaining 336,228 shares of its Reg A+ Tier 2 offering (the “Offering”) of 350,887 shares from $2.85 per share to $1.82 per share for aggregate proceeds to the Company of up to $601,419.

The proceeds raised from the sale of these shares under the Offering will be used primarily for inventory production and general corporate operating expenses (May be slightly revised based on POS 1-A filing).

June 17, 2022, the Company filed a post-effective amendment to its Form 1-A qualified by the United States Securities and Exchange Commission (“SEC”) of May 13, 2021. The revised terms described above will be implemented following the approval of the “SEC”.

About Traccom Inc.

The Company operates in the technology sector and has focused over the past two years on developing two break-through products.

The first product in the health care field is the Traccom MedicalPro™, a Remote Patient Monitoring device that consists of a communications hub and seven ancillary devices that monitor health conditions from the patient’s home. The ancillary devices include blood pressure, weight, temperature, glucose, oxygen, EKG and a spirometer. Each time the patient uses one or more of the devices, the results are immediately uploaded to the patient’s portal where the treating physician has full access to the patient’s remote readings. All the information tracked by the system is HIPAA compliant.

The second product is a state-of-the-art tracking device. The Traccom Basic™ Tracker may be used by consumers who fly and check in their luggage with the airline. The Tracker is packed inside their luggage and when the plane lands, the passenger immediately receives a text message and an email providing them the location of their luggage. The Tracker can also be used for general all-purpose tracking.

Both products are now ready for full production.

For additional information www.traccom.com or visit www.sec.gov

Interested investors can go to https://o.equitytrack.co/Home/CrowdFunding?Id=20#step-1 for more info on how to invest.

Forward-Looking Statements:

This press release has forward-looking statements within the meaning of the Private Securities Litigation Reform Act. All statements, other than statements of historical facts, included in this release that address activities, events, or developments that the Company expects, believes, or anticipates will or may occur are forward-looking statements. Several risks and uncertainties could cause actual results to differ materially from these statements, including not having enough broker dealers making a market in the Company’s stock, limited liquidity in the Company’s stock and factors described occasionally in the Company's publicly available SEC reports. The Company assumes no obligation to update publicly such forward-looking statements, whether because of new information, future events, or otherwise.

Investor Relations
accounting@traccom.com
714-308-3340

FAQ

What is the new share price for Traccom's offering?

Traccom reduced the share price from $2.85 to $1.82.

How much does Traccom expect to raise from the share offering?

Traccom aims to raise up to $601,419 from the offering.

What will the proceeds from Traccom's offering be used for?

The proceeds will be used primarily for inventory production and general corporate operating expenses.

When was the post-effective amendment filed by Traccom?

The post-effective amendment was filed on June 17, 2022.

What products is Traccom planning to produce?

Traccom is set to launch a Remote Patient Monitoring device and a luggage tracking device.