I'm hoping you can help me with these specific questions. You said:
"It was about the time we bought the private placement I asked questions regarding the lawsuit."
I don't know who "we" is and I don't care....I'm asking about you.
When did you make that investment?
When I say "we" it includes wife. No biggie...
Were you provided with an offering memorandum or similar document prior to investing in that Tauriga private placement?
Yes
Were you provided with financial statements at the time you invested? If so, what period did the statements cover?
Only the ones that were filed. It was my understanding that the 2014 filing was correct and the mistake Cowan made was not having Meyler rotate off, a auditor for dummy mistake. I talked to Seth and he did not seem upset with the mistake itself, it was more that TAUG was not notified of of the investigation, and that when the SEC Chief of Accountancy came down with the ruling the OTCBB delisted TAUG it created a ton of problems. Including a $1000.00 a day fine for not having audited financials and maintaining that listing. To compound this Cowan did not respond to any requests to have their original work papers returned. Failing to notify TAUG of an investigation and then failing to return the companies papers are very big issues.
Having audited financials and being traded on the OTCBB seem to be of little value according to your posting. With all due respect it effects, mergers, the ability to buy the stock through some brokerages, and the ability to have funds take positions.
From what I understand there have been many funds in the stock previously. That seems to be Seth's sweet spot, relationships with funds and large investors. Not being a CEO. It appears that DECN wanted to take advantage of TAUG's path back to being audited and relisted on the OTCBB. There are many emerging private companies that use existing public entities to go public. And the reality is the BOD here have picked some that looked promising but did nor work out. As my wife is a director at PFE and I know many senior people there the fact that TAUG picked Orlowski as a BOA to assist in mergers was very interesting. Even with that vetting does not guarantee anything, it just gives TAUG a fighting chance to absorb a higher quality company.
Did you have to sign a document wherein you agreed not to resell or distribute the securities to the public for a specific period of time? If so, how long? (Note: this question has nothing to do with whether the shares issued are restricted by law...they would be.)
I believe the offering was clear about the restriction, the shares are stamped restricted. This was not a big deal so I figured it would be at least 24 months before I would be selling anyway. But the shares are a 6 month hold. I think we bought at the end of March 2016.
Please understand that I'm not trying to get into your personal business.
No sweat. This is a spec stock and unless there is a good company merge it will just sit here. The placement was to help with getting financials current and legal. I do not see where Seth is taking cash out and living large like some some claim. His whole stay overseas was paid for by a sovereign wealth fund. Hopefully good things will happen down the road. There is nothing wrong with trying and failing, but the former Directors company seems to be corrupt. My family bought that one and took positions in 2 other ones that SETH showed me. VTGN which I really really like and another private placement in pay me on. VTGN is more the flavor of stocks as we like AERI and CEMP as well as a bunch of other biotechs. AGN bought a similar company last year for 1.6 billion all in and the drug is taken by IV. VTGN is funded by NIH and is oral. Haven't bought penny stocks in 20 years until March.
What I'm trying to figure out is what Rule the company used*** that allowed it to make an unregistered offering (you may have noticed that I'm having trouble doing that in another exchange).
Can't help you there, because I DO NOT KNOW THE ANSWER, but even completely private companies have detailed offering sheets and sometimes are winners. Tspring is an example, 1200% return in 16 months. Most are pipe dreams though.
Be happy to address the legal matter I was involved in, I didn't flag the post because it did not have the intended effect. It is actually something I was proud of although a major pain in the a**. Sometimes court narratives are as ficticious as some companies unaudited filings and court orders that never existed (not void ab initio) - but never existed. LMAO. I wonder if our ex director is hunkering down for the impending storm he has coming his way. The prior DECN director is relevant to what is going on with TAUG because the DECN board are now witnesses in the Tauriga lawsuit with that upsurd press release
AI
