Ah yes! "DECENT PERCENTAGE" raises its ugly head! The statement seems to clearly acknowledge that TAUG is not going to bank its newly found $2 million. Indeed there are bills to pay...BIG ONES, like the compensaton for two law firms, i.e. Nixon, Peabody and Paul Silverberg! Is Seth Shaw going to retire any of the convertible debt he has used to generate cash to pursue the Cowan lottery ticket? NOT A CHANCE!
Will Seth Shaw actually pay the debts with CASH, instead of allowing the highly discounted highly dilutive debt conversions to occur? Paying the debts with real cash, rather than seeing conversions, would have an impact similar to a share buy-back! If the conversion discount is 50% and share price has dropped since the cash was received (the price likely has fallen!), the lender will receive more than twice as many shares as the loan proceeds would have originally purchased!
NO DOUBT...ALL OF SETH SHAW's HIGHLY PROMOTED LOAN PAYOFFS, WHICH ARE ACTUALLY "CONVERSIONS", ARE CRUSHING THE SHAREHOLDERS, FURTHER DILUTING THE VALUE OF TAUG'S SHARES! SO MUCH FOR SHAW'S MANTRA, i.e. "CREATING SHAREHOLDER VALUE"!
Seth Shaw pats himself on the back and shouts "paid in full" by satisfying TAUG's debt obligations via conversions that are commonly discounted at 50% or more per converted share! It's BS!!! Shaw has relied on this "PAYOFF GAME" to promote himself and the share price, since the day he arrived as the CEO in the fall of 2012! Shaw has even provided incentives for some of TAUG's lenders by throwing in FREE "BONUS" SHARES to encourage the conversions, which in turn has allowed Seth Shaw to issue PR's, saying he is "retiring debt"! Seth Shaw never ever publicly acknowledges the fact that TAUG is retiring debt by handing out millions, even billions of shares, further crushing his shareholders with more big-time dilution"!
THE LENDERS HAVE GOTTA LOVE SETH SHAW! WHO IS TAUG MAKING "RICH"? FORGETTING THE INSIDERS, THE SIMPLE ANSWER IS THE ACCOUNTANTS, THE LAWYERS, AND THE LENDERS!
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