BB's Stock Haven

[Werbe]

$TGRR Low Float play. Was trading at .17 in February this year. Irma damaged key investment and they suffered. Have shifted all business towards its Premium Rum Line, which was created by a Master Cuban Rum Maker. New ventures and prs expected very soon. They also are working on 90-day moratorium on all conversions pursuant to its various outstanding convertible promissory notes

52 - Week Range
0.004 - 0.170
10/27/17 - 2/23/17


Current Share Structure:

OS: 27.6M
Restricted: 6M

Float: 21.7M

Tiger Reef was in the process of renovating a leased waterfront restaurant space in the Simpson Bay Resort & Marina in preparation of opening the first Mermaid Reef Ocean Grill & Lounge™ in time for the 2017 tourist season.  We were two weeks into renovating the restaurant space when Hurricane Irma struck.
Simpson Bay Resort & Marina and our restaurant location also suffered massive damage and flooding.  The following YouTube video shows the level of damage caused to this resort by Hurricane Irma: https://vimeo.com/235096890.
Management from both Tiger Reef and Simpson Bay Resorts & Marina have had multiple discussions since the storm regarding the future of the resort and restaurant.  It is estimated that the resort will be closed for a minimum of six months, probably longer, before it can resume accepting guests.
Based on this fact, as well as other uncertainties, Tiger Reef and Simpson Bay Resorts & Marina have mutually agreed to terminate the lease agreement for this restaurant space.  Tiger Reef will make a one-time write-off in the current fiscal quarter for its lost investment in this restaurant property.
As such, Tiger Reef is temporarily suspending all efforts related to the Mermaid Reef Ocean Grill & Lounge™ brand.  Tiger Reef will reevaluate its options for this brand in the coming months after the company recovers from the losses incurred as a result of this storm.

Tiger Reef is aware of the steep decline in its share price since Hurricane Irma struck.  Although painful in the short-term, Management believes the share price can recover once the company resumes regular operations and secures new financing.
Towards this goal, Tiger Reef is starting to negotiate with its current lenders for a 90-day moratorium on all conversions pursuant to its various outstanding convertible promissory notes.  Should all of Tiger Reef’s lenders agree to this moratorium, then an orderly conversion process can be established which will allow Tiger Reef’s share price to recover and open the door for new rounds of financing needed to move the company forward and away from this natural disaster.
In conjunction with all of the above, Tiger Reef will be petitioning the SEC for an extension to file its Quarterly Report on Form 10-Q for the period ended September 30, 2017.  We understand that hardship extensions have been granted to some companies.  Considering the difficulties we will have recreating some of the records that were lost during the storm, we are hopeful the SEC will grant us an extension.  Should the SEC grant Tiger Reef a hardship extension, it will be reported to shareholders via a Form 8-K filing in the future.