Tauriga Sciences, Inc. (OTCMKTS:TAUG) Recovers Some Lost Value
There have been a lot of news surrounding Tauriga Sciences, Inc. (OTCMKTS:TAUG) recently, but the company stock was still struggling to keep the huge percentile gains it had accumulated since the beginning of last month, as the company decided to branch out in the booming medical cannabis sector.
Despite the optimism, TAUG has been sliding down the charts since the middle of March, with anly a few green sessions. On March 26, the company announced that its wholly owned subsidiary Pilus Energy, LLC has started a $1.7 million commercial pilot test of their Energy Electrogenic Bioreactor, which produces energy from waste water.
This managed to provide TAUG with a 10% boost in price the same day, but what followed was 2 red sessions that obliterated the gains and pushed the ticker further down the charts on average volumes.
Yesterday, we saw 2 more press releases made by the company. The first announced that TAUG has completed a $800 thousand equity private placement at $0.06 in restricted shares with no offering of warrants or registration rights to the investors.
Later, it was announced that the company has also retired a convertible note held by Group 10 Holdings, Inc. from last September for the amount of $157 thousand that was needed for the acquisition of Pilus Energy, LLC. In November.
These news proved to be quite appealing to the investors and TAUG jumped a good 34% to a close at $0.081 on a decent 20.7 million volume that generated $1.5 million in trade value, with most of the trades taking place in the first hour of the session.
Still, as mentioned in our previous articles about the company, TAUG hasn’t produced any revenues since inception in 2011 and has accumulated a massive $21.2 million net loss in this short period of time. For now, it remains unclear when they will start making money.
This is the exact reason for which we would advise you to always do your due diligence and weigh out the risks before making an investment decision.