Tauriga Sciences Inc. Files its Form 10-K for Fiscal Year End 2016
NEW YORK, NY / ACCESSWIRE / October 14, 2016 / Tauriga Sciences, Inc. (OTC PINK: TAUG) (“Tauriga” or the “Company”), a life sciences technology company, has filed its Annual Report on Form 10-K for the year ended March 31, 2016 with the Securities and Exchange Commission (“SEC”).
The Company is working diligently to file its delinquent Form 10-Q’s for the periods ended June 30, 2016 and September 30, 2016. The Company expects to file both with the SEC prior to December 31, 2016. Once this is achieved, the Company hopes it can contemplate potential merger and acquisitions opportunities as well as approach institutional investors for funding.
The Company has been delinquent in its SEC filings since July 2015 and, as a result, Tauriga was downgraded from the OTCQB on July 31, 2015. As previously disclosed, the Company believes its failure to file its Form 10-K for the period ended March 31, 2015 was due to malpractice committed by its predecessor audit firm Cowan Gunteski & Co. P.A. (“Cowan Gunteski”). The Company is continuing to prosecute its lawsuit against Cowan Gunteski (please see “Tauriga Sciences, Inc. v. Cowan, Gunteski & Co., P.A. et al” in the United States District Court for the District of New Jersey, Case #: 0:15-cv-62334). Management will update shareholders with respect to the progression of this litigation when material events occur. In aggregate the Company intends to seek an award at trial of at least $4,000,000 USD; that figure is expected to continually increase as additional time lapses. There can be no guaranty, however, the Company will receive any judgment award.
Tauriga’s CEO, Seth M. Shaw, expressed, “The Company has endured a very difficult period and is pleased to report such meaningful progress in its efforts to become current in its filings with the SEC. The Company and its management are committed to both restoring and creating shareholder value and strongly believe that the shareholders deserve a much better future.”
About TAURIGA SCIENCES, INC.:
Tauriga Sciences, Inc. (OTC PINK: TAUG) is a life sciences company focused on generating profitable revenues through its present and future holdings. The mission of the Company is to acquire and build a diversified portfolio of cutting edge technology assets that is capital efficient and of significant value to the shareholders. The Company’s business model includes the acquisition of licenses, equity stakes, rights on both an exclusive and non-exclusive basis, and entire businesses. Management is firmly committed to building lasting shareholder value in the short, intermediate, and long terms. Please visit the Company’s corporate website at www.tauriga.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.
Forward-Looking Statements: Except for statements of historical fact, this news release contains certain “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation expectations, hopes, beliefs, plans, and objectives regarding the development, use and marketability of products. Such forward-looking statements are based on present circumstances and on Tauriga’s predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, and are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to successfully develop and market products, consumer and business consumption habits, the ability to fund operations and other factors over which Tauriga has little or no control. Such forward-looking statements are made only as of the date of this release, and Tauriga assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements. Risks, uncertainties and other factors are discussed in documents filed from time to time by Tauriga with the Securities and Exchange Commission. This press release does not and shall not constitute an offer to sell or the solicitation of any offer to buy any of the securities, nor shall there be any sale of the securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The securities have not been registered under the Securities Act of 1933, as amended (the “Securities Act”) or any state securities laws, and may not be offered or sold in the United States absent registration, or an applicable exemption from registration, under the Securities Act and applicable state securities laws.