NEW YORK, NY--(Marketwired - November 09, 2016) - In the news release, issued earlier today by Tauriga Sciences, Inc. (OTC PINK: TAUG), we are advised by the company the headline should read "Tauriga Sciences Inc. Files its Form 10-Q for 1st Fiscal Quarter of 2017" rather than "Tauriga Sciences Inc. Files its Form 10-Q for 1st Fiscal Quarter of 2016" as originally issued. Complete corrected text follows.
Tauriga Sciences Inc. Files its Form 10-Q for 1st Fiscal Quarter of 2017
NEW YORK, NY -- November 9, 2016 -- Tauriga Sciences, Inc. (OTC PINK: TAUG) ("Tauriga" or the "Company"), a life sciences technology company, has filed its Quarterly Report on Form 10-Q for the period ended June 30, 2016, its fiscal first quarter. The Company must still file its Quarterly Report for the period ended September 30, 2016, its second fiscal quarter ("Second Quarter Report"). The Company anticipates that it will complete this filing by the end of this calendar year, if not sooner.
As previously reported, the Company became a delinquent filer and was downgraded from the OTCQB Exchange on July 31, 2015 due to what the Company strongly believes to be professional malpractice committed by Cowan Gunteski & Co. P.A. ("Cowan Gunteski") as well as Cowan Gunteski's subsequent conduct. The Company continues to prosecute its lawsuit against Cowan Gunteski and remains confident in the merits of its case. There can be no guaranty, however, the Company will receive any judgment award.
Additionally, the Company is in contact with OTC MARKETS concerning the uplisting of its shares from OTC PINK Limited Information Tier to the OTCQB upon the Company filing its Second Quarter Report status. The Company will update shareholders with additional information on this subject as soon as practicable.
Tauriga's Chief Executive Officer, Seth M. Shaw, expressed, "The Company has overcome many difficulties over the past 16 months and now can confidently express to its shareholders that it will be current in its periodic reports with SEC by December 31, 2016. This is a positive development for Tauriga as it strengthens the Company's ability in negotiations with potential acquisition target(s) and provides the Company with opportunities and access to capital that have not been possible since July 31, 2015. Tauriga's management remains deeply appreciative of its shareholders continued patience and loyalty and believes that its shareholders deserve a successful and prosperous future."
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.