I dont think so, it does not say anything about having to double to the 2 mill section, rather it says just get to two million before the close. One has to figure they are there, since the close is just 17 days away... pretty damn hard to increase your sales that much. I read it as , get to two million get 1.666% of total OS in restricted shares... then get another 2 million and get another 1.666 percent of the total OS for a over all total of a $4,000,000 increase. And do all of this in 17 days.
I highly doubt that these folks would have agreed to this deal if they were not there... other wise they are pretty much merging Doc's in for almost 50% less then the original deal. They came down from 34% to 18%. So to me they are at or very, very close to $2,000,000 right now.
Tauriga's common stock outstanding (utilizing the same initial Closing Date) upon achieving certain gross revenue based milestones. These revenue based milestones can be summarized as follows: upon the generation and receipt of $2.0MM of gross revenues derived strictly from the sale of Doc Green's and Honeywood's products, the three Honeywood principals shall each be issued either restricted stock or stock options equal to an additional 1.6666% shares of Common Stock of Tauriga. Upon the generation and receipt of an additional $2.0MM ($4.0 MM total gross revenues by Honeywood), its three principals shall each be issued an additional 1.6666% shares of Common Stock of Tauriga (each such additional issuance to be set off the outstanding shares at the initial Closing Date).
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