Many good points, but...
The above exemption has expired and there is no basis for Tauriga to NOT register under the Investment Act of 1940.
Perhaps the SEC granted an extension from filing. I wrote long ago that the Company/Lawyers were or should be exploring this.
My take on the current state is the same as always, it is a penny stock and hopefully the gum sales covers the Company's burn rate and then some while waiting for data from TAUG's largest holding. Analysts are calling for 400% to 1500% increase in that position. One only needs to look at AXSM, which was steady at $2.00 for quite some time but skyrocketed after positive phase 2 data to over $10.00. In the depression space Sage is another example of the potential of Taug's holdings. One should also look at Allergan's purchase of Rapaisnol from Naurex after phase 2 data. That was o a 2 billion dollar deal with training royalties. Morover, naurex did not sell its pain drug to AGN, that went public with no more data than VTGN has for pain and is hovering at about a 1 billion dollar market cap.
If TAUG's portfolio goes boom this year I hope we see a major M&A, you know, from the rolodex...LOL
