Tauriga Sciences Inc (TAUG)

[diannedawn]

The link to the PR does not work.
Here is what the last 10k says..
“On December 22, 2016, the Company entered in a membership interest transfer agreement with Open Therapeutics whereby the Company sold 80% of its membership interest in Pilus back to Open Therapeutics. Open Therapeutics agreed to terminate and cancel 80% of the unexercised portion of the warrant to purchase 28,917,647 shares (or 23,134,118 warrants) of the Company’s common stock. Open Therapeutics agreed to pay to the Company 20% of the net profit generated Pilus Energy from its previous year’s earnings, if any. The first $75,000 of such payments would be retained by Pilus Energy as additional consideration for the sale, which is reflected as a contingent liability on the Company’s consolidated balance sheet. The Company further agreed it would vote its 20% membership interest in Pilus Energy in the same manner that Open Therapeutics votes its membership interest on all matters for which a member vote is required. Through March 31, 2018, there has been no activity recorded by Open Therapeutics with respect to Pilus Energy, and thus the $75,000 remains contingently owed to them.”

So this is something TAUG only would have paid IF Pilus had generated “net profit”...
WHY did BSeth give away 500,000 shares for something that more than likely NEVER would have been paid
and IF it WAS paid, would have come out of proceeds???

Is this ANOTHER example of how he screws the shareholders every chance he gets?
ROTFLMAO