Cowan caused the delisitng because Tauriga could not file its Form 10-K in July 2015 due to independence breach / malpractice committed on FY 2014 audit.
You are correct. Tauriga was below a penny during late July 2015. However it still had several more months to remedy that.
You cannot definitively state hat Tauriga would not have been able to remedy that deficiency with a strong acquisition. It's not fair to assume that Tauriga would never have been over a penny again
The point is that Tauriga was not delisted in July 2015 due to stock price. It was delisted because of a filing delinquency. So perhaps as a compromise, OTC Markets could uplist TAUG temporarily based on the exact parameters that faced the company on July 30, 2015. So the company would have to be compliant by May 6, 2017 for example. Which would have been same time frame (in days) that the company faced on July 30, 2015.
So OTC Markets certainly has a rationale to consider Tauriga's argument
Let's not speculate on how the petition will go on Thursday. But let's try to stay factually accurate. My guess is that it's 50/50. That's my personal opinion. The outcome
I think Tauriga should not be punished for Cowan's clear malpractice. And maybe OTC Markets will agree
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