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<u>This information would seem appropriate to be stickied</u>!

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rawman Member Level  Sunday, 10/29/17 09:50:12 PM
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This information would seem appropriate to be stickied! It certainly will never be posted on the TAUG website!

Here are a couple very germane paragraphs taken directly from one of the two Cowan expert valuation rebuttals:
Table 3 details five principle businesses...Pilus Energy was written off because the company could not finance the required commercial testing. Yet, Tauriga stated, 'Both Management Teams [Pilus and Tauriga] are highly confident that the capital and liquidity needs will be sufficiently met through commitments from existing institutional investors and progress in non-diluting funding initiatives (i.e. grants, low interest loans).' 2014 10K p. 4. This statement proved totally incorrect.

By June 30, 2015, the company had no meaningful operations. It had made a string of unwise and commercially unsuccessful deals, apparently failed to conduct appropriate due diligence, overestimated its ability to raise capital, and issued -- stock securities convertible into common stock at a discount fro the market -- simply to survive. Its stock was collapsiing in response to its seemingly endless economic reversals, as detailed below.

VI. TAURIGA ON JUNE 30, 2015, AND JULY 31, 2015

At June 30, 2015, Tauriga has $199,000 in current assets, $1,543,000 in current liabilities, and 941,825,933 shares of common stock outstanding. Its accumulated deficit was $49,495,000. It had no meaningful business or business projects, had never achieved positive net worth, and depended on death spiral financings for survival. In the fiscal year ended March 31, 2014, Tauriga entered into approximately 30 such financings, from which it obtained gross proceeds of $2,047,000. During the two fiscal years ended March 31, 2015, Tauriga issued 250,000,000 shares of common stock for conversions to convertible notes and debentures.

Checking Table 3 of the report, Pilus was written off effective March 31, 2014. It is a very interesting sequence of events! Seth Shaw finalized the Pilus acquisition in January 2014, Seth Shaw resigned his CEO position in February 2014, and Pilus was WRITTEN DOWN TO ZERO one month later on March 31, 2014, or only TWO MONTHS AFTER PILUS HAD BEEN ACQUIRED! YES INDEED...THIS MULTI-MILLION DOLLAR SHAREHOLDER THRASHING CAN BE LAID DIRECTLY AT THE FEET OF THE COMPLETELY INEPT AND/OR LAZY SETH SHAW! As mentioned several times, Seth Shaw wouldn't know due diligence if it jumped up and bit him on the butt!

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