Tauriga Sciences Inc. on Track to Become Completely Free of Convertible Debt
NEW YORK, NY, Jan 09, 2018 (GLOBE NEWSWIRE via COMTEX) —
Tauriga Sciences, Inc. (otc pink:TAUG) (“Tauriga” or the “Company”), engaged in building its business through the development, distribution, and licensing of proprietary products as well as the evaluation of potential acquisition opportunities and equity investments, today announced that the Company believes it is on track to become completely free of convertible debt by the end of its Fiscal Year 2018 (period ending:March 31)(period ending:2018). As of today’s date, the Company reports that less than $225,000 of Face Value convertible debt remains (in aggregate).
The Company has demonstrated to shareholders, over the past several months, its unshakable commitment to both repay & retire its outstanding convertible debt as well as protect its capital structure from significant sources of potential future dilution. The Company is also capable of retiring the above-referenced remaining convertible debt, exclusively through cash payment(s), should it be deemed in the best interests of its shareholders. The requisite cash for retiring this remaining convertible debt would be funded from the Company’s available cash position (“balance sheet cash”).
Separate from this, the Company has been successful in extinguishing numerous additional items that had been recorded as balance sheet liabilities (some dating back many years). The Company expects that these above-mentioned successes will be depicted within its Quarterly Report (“Form 10Q”) for its 3 [rd] Fiscal Quarter of 2018 (period ending:December 31)(period ending:2017); to be filed with the Securities & Exchange Commission (“SEC”) within the next several weeks.
Management continues to work diligently in its efforts to evaluate potential business opportunities, with the goal of completing one or more major transaction(s) during calendar year 2018.
ABOUT TAURIGA SCIENCES, INC.
Tauriga Sciences, Inc. (OTC PINK:TAUG) is engaged in building business through the development, distribution, and licensing of proprietary products as well as the evaluation of potential acquisition opportunities/equity investments. The Company is presently focused on its upcoming contemplated launch of a Cupacu Butter based lip balm product branded under the name: Herman. The Company believes that one of its most important strengths is its access to and relationships with potentially substantial distribution systems and networks. The Company intends to capitalize on distribution opportunities and will continually update shareholders on such developments. Please visit our corporate website at www.tauriga.com
This press release contains certain “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995 which represent management’s beliefs and assumptions concerning future events. These forward-looking statements are often indicated by using words such as “may,” “will,” “expects,” “anticipates,” believes, “hopes,” “believes,” or plans, and may include statements regarding corporate objectives as well as the attainment of certain corporate goals and milestones. Forward-looking statements are based on present circumstances and on management’s present beliefs with respect to events that have not occurred, that may not occur, or that may occur with different consequences or timing than those now assumed or anticipated. Actual results may differ materially from those expressed in forward looking statements due to known and unknown risks and uncertainties, such as are not guarantees of general economic and business conditions, the ability to successfully develop and market products, consumer and business consumption habits, the ability to consummate successful acquisition and licensing transactions, fluctuations in exchange rates, and other factors over which Tauriga has little or no control. Many of these risks and uncertainties are discussed in greater detail in the “Risk Factors” section of Tauriga’s Form 10-K and other filings made from time to time with the Securities and Exchange Commission. 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. You should not place undue reliance on these forward-looking statements.
CONTACT INFORMATION Tauriga Sciences, Inc. 555 Madison Avenue, 5th Floor New York, NY 10022 Chief Executive Officer Mr. Seth M. Shaw Email: email@example.com cell # (917) 796 9926 www.tauriga.com