Tauriga Sciences Inc (TAUG)

[diannedawn]

"While Tauriga claims to be an early development stage
company in the “cleantech” business of, inter alia, converting
wastewater into energy, in reality it is more in the nature of a
venture capitalist for speculative, unestablished start-up
businesses in which Tauriga seeks to acquire an interest in
exchange for Tauriga common stock. Tauriga has generated de
minimis revenue since its inception, while sustaining an
accumulated net operating loss in the tens of millions of
dollars. It has been on the edge of insolvency since its
inception. According to Tauriga’s most recent Form 10-K, filed
on October 14, 2016 for the fiscal year ended March 31, 2016,
its current liabilities ($2,305,090) exceeded its current assets
($10,164) by $2,294,926, an increase of $992,054 from its March
31, 2015 deficit. Herzog Cert., Ex. 1. Tauriga’s current Form
10-Q, for the quarterly reporting period ended December 31,
2016, filed on January 31, 2017, lists total assets as of
December 31, 2016 of $31,663 and current liabilities of
$2,607,566. Id., Ex. 2. Plaintiff’s common stock has
frequently traded at a penny per share or less; the closing
price on April 13, 2017 was 0.0018."