Replies to post #48294 on Tauriga Sciences Inc (fka TAUG)

[loanranger]

Now we know what Tauriga means when they say "foreseeable future".

"New York, NY, March 06, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Tauriga Sciences, Inc. (OTCQB: TAUG) (“Tauriga” or the “Company”), engaged in building its business through the development, distribution, and licensing of proprietary products as well as the evaluation of potential acquisition opportunities and equity investments, today announced that it has canceled its previously planned corporate action to amend its articles of incorporation to increase its authorized share capital (“authorized shares”). The Company’s authorized shares limit will remain at 100,000,000 for the foreseeable future. The Company decided to withdraw this planned corporate action due to more favorable recent market conditions as well as meaningful progress realized with respect to its ongoing business initiatives."

"You are cordially invited to attend a special meeting of shareholders (the “Special Meeting”) of Tauriga Sciences, Inc., a Florida corporation (the “Company”) to be held at 555 Madison Avenue, 5th Floor, New York, New York 10022 on September 10, 2019 at 9:00 A.M., Eastern Standard Time."
"The Special Meeting will be held for the following purposes:
1. To approve an amendment to the Company’s Articles of Incorporation to increase the number of authorized shares of Common Stock of the Company from 100,000,000 shares to 400,000,000 shares (“Proposal 1”); and

2. To approve any adjournments or postponements thereof to solicit additional proxies if there are insufficient votes cast to attain quorum or approval of Proposal 1, and to consider and transact such other business as may properly come before the meeting."



I guess the "more favorable recent market conditions as well as meaningful progress realized with respect to its ongoing business initiatives" no longer applies. From (1)adequate to (2)needs to be quadrupled in 5 months.



Here's a little puzzle for you:
Proposal #1 is to increase the Authorized common from 100M to 400M. A quorum (a majority of the shares entitled to vote) must be present, in person or by proxy. It requires a majority vote of those present to approve the proposal.

Proposal #2 is to approve an adjournment, should one be necessary, to try to scurry up additional shares in the even that there aren't enough votes to make a quorum in the initial meeting. But the approval of this proposal also requires that a quorum be present (and the approval by a majority of that quorum).

The puzzle:
If no quorum is present for Proposal #1, then how can a quorum be present for Proposal #2...which needs to be approved to be able to schedule a second meeting to approve Proposal #1 should one be necessary?