Monday, June 26, 2017 12:51:31 PM
Perhaps "Group 10 did not HAVE to do this", but a 50% PROFIT IN 2 1/2 MONTHS was far too big a Seth Shaw "GIFT" to pass up!
So the "shareholder-centric" Seth Shaw did not give away more TAUG shares, causing more dilution, but he simply gave away the shareholders money instead! And of course he did this despite desperately needing resources to launch two new products, prepare the company's annual financial report (10-K), and pursue litigation against the company's former auditor! Just a reasonably logical guess...somebody from Group 10 has put the "twist" on Seth Shaw! GIVEN TAUG'S CURRENT FINANCIAL SITUATION, THERE IS NO LOGICAL REASON TO "VOLUNTARILY" DISPOSE OF CASH! Will another Group 10 convertible note be forthcoming? Wouldn't that be special?
BTW...giving away the shareholders' extra cash, i.e. $20,000, over and above the value of the convertible note, is also defined as "dilution", because it reduces the Balance Sheet net assets! Dilution is a formula based upon net assets divided by Outstanding shares. If either variable changes, the outcome changes...i.e. in this case resulting in reduced shareholder value, WHICH IS "DILUTION"!
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