Tauriga Sciences Inc (fka TAUG)

[diannedawn]

I would bet that KBL refused to sign off until the A/S increase was completed...again...

solidus370  
Thursday, 08/06/15 11:25:01 PM
Re: rawman post# 26413

Post # of 39034 

Our audit firm KBL was concerned about the fact that our share count of 929,000,000 was too close to the authorized limit of 1,000,000,000. If all of the "out of the money" warrants were to be converted (at some point), there would be a scenario in which the total shares owed to investors could have possibly exceeded 1,000,000,000. Owing more than 100% of authorized shares is a Section 5 violation, or a violation of Federal Securities Laws. Our new audit firm felt uncomfortable signing off on the FY 2015 Form 10K without successfully amending the authorized first. So we mailed the proxy on July 17th and worked our rear ends off to reach quorum. Because we didnt have 15 days for the mailing (because our 10K was due on July 29th) we didnt get the benefit of broker non-votes counting toward quorum. We were able to reach quorum with 51.7% voting (needed 50.1%) and we successfully increased authorized.

So your answer is as follows -- Our new audit firm felt uncomfortable signing off on our Form 10K without the Company first amending the authorized. And honestly, this increase in authorized should have been done months ago.

as the same conditions were present...again....
However, since the vote was the 28th, and it was DONE, that SHOULD no longer have been a reason not to sign.

So that leaves other issues...
like probably TAUG had not PAID them.
I seem to remember some PR about having $$$ to complete the audit...
Oh...right...here it is
"NEW YORK, NY--(Marketwired - Mar 28, 2017) - Tauriga Sciences Inc. ( OTC PINK : TAUG ) ("Tauriga" or "the Company"), a Company engaged in building businesses in the life sciences space, has today announced that it has secured additional financing in excess of $100,000 USD from two existing institutional investors as well as one accredited individual investor. This is a significant development for the Company, at this time, because it enables the Company to commence the audit work pertaining to its Fiscal Year 2017 ("FY '17") Year End (Period Ending March 31, 2017) in a timely manner.
https://finance.yahoo.com/news/tauriga-sciences-inc-secures-more-155611635.html

ROTFLMAO