NEW YORK, NY - (NewMediaWire) - October 08, 2015 - Tauriga Sciences, Inc. (OTC PINK: TAUG) or ("Tauriga" or the "Company"), a diversified life sciences company focused on building its existing technologies and evaluating potential acquisition candidates, has today announced that the Company has been granted additional time to regain compliance with OTCQB listing requirements. Specifically Tauriga has been notified by OTC Markets that it has until close of business January 27, 2016 ("extended deadline") to fully comply with the listing requirements that govern fully reporting U.S. companies listed on the OTCQB. By that date, the Company must become current with its delinquent filings ("filings"), post a new OTCQB Certification via www.otciq.com, and close at or above $.01 per share for 30 consecutive days. Currently shares of Tauriga are listed on the OTC Pink Limited Information Tier until it regains compliance with the above requirements.
Should the Company fail to meet this extended deadline, the Company will be required to become fully reporting (at a date subsequent to January 27, 2016) and then submit a new OTCQB Application along with a new application fee of $2,500 in additional to the requirements listed above.
Tauriga's CEO Seth M. Shaw, commented, "The Company is appreciative of the genuine efforts made on its behalf by the staff of OTC Markets with respect to the listing of its shares on the OTCQB tier exchange. This delisting occurred as a direct consequence of the malpractice committed by the Company's predecessor audit firm. The Company and its management continues to work diligently towards meeting the OTCQB listing requirements and is hopeful that such listing shall be regained prior to the extended deadline."
Additionally the Company is working towards reaching a fair and reasonable settlement with the predecessor audit firm that takes into account the substantial out of pocket cash losses as well as the collateral damage(s) caused by the malpractice that was committed. The Company will update shareholders, via a press release, should there be a resolution to this matter.
About TAURIGA SCIENCES, INC.:
Tauriga Sciences, Inc. (OTC PINK: TAUG) is a diversified life sciences company focused on generating profitable revenues through its present and future holdings. The mission of the Company is to acquire and build a diversified portfolio of cutting edge technology assets that is capital efficient and of significant value to the shareholders. The Company's business model includes the acquisition of licenses, equity stakes, rights on both an exclusive and non-exclusive basis, and entire businesses. Management is firmly committed to building lasting shareholder value in the short, intermediate, and long terms. Please visit the Company's corporate website at www.tauriga.com
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted. Any securities offered or issued in connection with the above-referenced merger and/or investment have not been registered, and will be offered pursuant to an exemption from registration.
Forward-Looking Statements: Except for statements of historical fact, this news release contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation expectations, beliefs, plans and objectives regarding the development, use and marketability of products. Such forward-looking statements are based on present circumstances and on Tauriga's predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, and are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to successfully develop and market products, consumer and business consumption habits, the ability to fund operations and other factors over which Tauriga has little or no control. Such forward-looking statements are made only as of the date of this release, and Tauriga assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements. Risks, uncertainties and other factors are discussed in documents filed from time to time by Tauriga with the Securities and Exchange Commission. This press release does not and shall not constitute an offer to sell or the solicitation of any offer to buy any of the securities, nor shall there be any sale of the securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The securities have not been registered under the Securities Act of 1933, as amended (the "Securities Act") or any state securities laws, and may not be offered or sold in the United States absent registration, or an applicable exemption from registration, under the Securities Act and applicable state securities laws.