Ah yes! The investors have gotta love it. CEO Seth Shaw has now stiffed the shareholders for two quarters in a row. Shaw has chosen to ignore a CEO's fiduciary obligation to regularly apprise the Company's owners, the shareholders, as to the financial condition of the Corporation.
The 2022 Annual Report is long past due, but now the Q1 2023 report is nowhere to be found. Of course Shaw blamed these failures to report on the complexity of the regulatory environment. This flimsy excuse is most interesting, given little has actually changed since TAUG's quarterly reports for Fiscal 2020 and 2021 were filed, as required by the SEC. Yes indeed, it is complete BS!
No one, aside from the insiders (and most likely Shaw's lender buddies) have the foggiest idea regarding TAUG's financial health. Here's a thought! TAUG is so deeply in the toilet, Shaw cannot scrounge up enough cash to pay accountants and auditors to produce the quarterly reports.
How many shares of the financially crushed Vistagen (VTGN) is TAUG still holding? Oops....nobody knows, because the investors have not seen a TAUG Balance Sheet since the quarter ended December 31, 2021. The VTGN shares lost nearly 90% of their value in one day a few weeks ago. If TAUG was still holding the VTGN shares, it was a multi-hundred thousand dollar hit to the Company's Asset line.
Financial guru Seth Shaw is joke! The amount of investor funds that Shaw has trashed chasing hugely speculative "opportunities" has been obscene. Shaw views himself as a financial wizard; however, as a consequence of his oft proven lack of acumen and thorough due diligence, the TAUG investors have gotten creamed by idiotic business decisions for the last 10 years! Seth Shaw has pocketed roughly $2 million in compensation, while the shareholders have been treated to watching Rome burning on a daily basis!
