It was said recently that SAINT SETH was not the one responsible for the Typenex settlement... That was signed in mid January 2015... BUT SAINT SETH WAS THE ONE WHO GOT INVOLVED WITH JOHN FIFE IN THE FIRST PLACE! http://www.sec.gov/Archives/edgar/data/1142790/000135448813003687/taug_8k.htm "On May 24, 2013, Tauriga Sciences, Inc. (the “Company”) entered into a Securities Purchase Agreement with Typenex Co-Investment, LLC ("Typenex"), for the sale of an 8% convertible note in the principal amount of $550,000 (which includes Typenex legal expenses in the amount of $7,500 and a $50,000 original issue discount) (the “Company Note”) for $500,000, consisting of $100,000 paid in cash at closing and four secured promissory notes, aggregating $400,000, bearing interest at the rate of 8% per annum, the first note maturing three days after Typenex receives a letter from the Company’s transfer agent satisfactory to Typenex in their sole discretion, and the four remaining notes each maturing sixty (60) days following the occurrence of the Maturity Date (the “Investor Notes”). The Investor Notes may be prepaid, without penalty, all or portion of the outstanding balance along with accrued but unpaid interest at any time prior to maturity. We have no obligation to pay Typenex any amounts on the unfunded portion of the Note.
The Note bears interest at the rate of 8% per annum. All interest and principal must be repaid on October 24, 2014, 2014. The Note is convertible into common stock, at Typenex’s option, at a price of $0.06 per share. In the event the Company elects to prepay all or any portion of the Note, the Company is required to pay to Typenex an amount in cash equal to 150% multiplied by the sum of all principal, interest and any other amounts owing. The Note is secured by all of the assets of the Company.
Typenex has agreed to restrict its ability to convert the Note and receive shares of common stock such that the number of shares of common stock held by them in the aggregate and their affiliates after such conversion or exercise does not exceed 4.99% of the then issued and outstanding shares of common stock. The Note is a debt obligation arising other than in the ordinary course of business, which constitutes a direct financial obligation of the Company. The Note also provides for penalties and rescission rights if we do not deliver shares of our common stock upon conversion within the required timeframes.
In addition, the Company issued to Typenex warrants to purchase shares of the Company’s common stock equal to $277,500 divided by the market price of the Company’s securities as of the date of the issuance of the warrant. The warrants are exercisable at $.10 per share for a period of five years."
(BTW SAINT SETH...HOW can we be assured that you're dispelling "misinformation" when you can't even proof read your 8Ks? These agreements were JUNE 24th...not MAY")
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