Tauriga Sciences Inc. Responds in Federal Court to the Multiple Motions Filed by Cowan Gunteski
NEW YORK, NY–(Marketwired – Jul 7, 2016) – Tauriga Sciences, Inc. (OTC PINK: TAUG) (“Tauriga” or the “Company”), a life sciences technology Company, today announced that it has filed its Response with Untied States District Court Southern District Florida, Case No. 0:15-cv-62334, to answer the multiple motions filed by Cowan Gunteski & Co. P.A. (“Cowan Gunteski”) on June 13, 2016. At this point, Cowan Gunteski has ten days to Respond to Tauriga’s submission and at a date subsequent to that, the federal judge will make a ruling. Irrespective of this ruling, the Company will continue to prosecute this lawsuit against Cowan Gunteski and believes strongly in the evidentiary record and the merits of its legal arguments. The Company is currently seeking in excess of $3,000,000 USD in monetary damages and expects that number to continually increase up till the date of trial.
On June 29, 2016 the Company filed its Quarterly Report on Form 10-Q (“Quarterly Report”) for the period ended June 30, 2015. The Company continues to work diligently towards its corporate goal of regaining its status as a fully reporting U.S. public Company. The Company became a delinquent filer and was delisted from the OTCQB Exchange on July 31, 2015 due to the malpractice committed by Cowan Gunteski during Fiscal Year 2014 as well as Cowan’s subsequent conduct.
Lastly the Company wishes to reaffirm to shareholders its unwavering commitment to both restore and create lasting shareholder value. The Company’s management and its Board of Directors are united in their commitment to build long term value for the shareholders. The Company continues to evaluate potentially intriguing acquisition opportunities and will notify shareholders, via a press release, should it enter into an agreement.
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. Any securities offered or issued in connection with the above-referenced merger and/or investment have not been registered, and will be offered pursuant to an exemption from registration.
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, 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.