Techcom Announces Executive Agreements Amid Funding Uncertainty

Techcom (TCRI) has released an update to notify the public and investors about its officers.

The Company has entered into employment agreements with its CEO, Charles Faulkner, and CFO, Simon Wajcenberg, effective January 1, 2024, including annual salaries of $300,000 contingent on securing a minimum of $75 million in funding. Additionally, the executives received warrants to purchase shares of the company stock, with specific conditions for vesting and exercise prices based on company performance and funding milestones. However, the company currently lacks a commitment for the necessary funding or line of credit, casting uncertainty on the payment of the agreed compensation and the ability to exercise the warrants.

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For a comprehensive understanding of the announcement, you can read the full document here.