Tauriga Sciences, Inc. (OTCMKTS:TAUG) Rises Ahead of Cannabis Agreement Deadline
Tauriga Sciences, Inc. (OTCMKTS:TAUG) is not giving up that easily, as the rebounce from the extremely low price turned into a noticeable upward trend. On Fruday, TAUG grew by more than 49% to $0.036, on dollar volumes of above $778,000. Despite the relatively low dollar volumes compared to other OTC offers, for TAUG this is a near-record, as about 25 million shares changed hands at the end of the week. The sudden activity of TAUG is based on corporate updates and mostly, the decision to add medical cannabis to its innovative list of products. 
TAUG is interested in various biotechnologies, including renewable energy sources, and the latest spike was caused by the announcement of an institutional investor that could commit $1 million to develop the marijuana business. But beware- the agreement is still preliminary, despite the fact that the unnamed investor has wired a quarter of the sum to an escrow account.
Now, TAUG is facing the March 10th deadline for a definitive agreement with a Cannabis producer, also unnamed, or it would lose the investment. But even if all was lost, there was a twofold gain in price since the beginning of March, which the faster investors could certainly use.
Of itself, TAUG is showing deficits and could indeed use another million dollars. The latest filings reveal:
- cash: $57 thousand
- current assets: $109 thousand
- current liabilities: $1.38 million
- no revenue since inception
- quarterly net loss: $1.6 million
Added to this is the fact that the company has upward of 522 million shares outstanding, but its float is only 34 million shares, with another billion shares authorized. Several times, the company improved its share structure by reverse splits, on some occasions also changing identities. In fact, the last time TAUG switched tracks with a new name was last Spring, when until April the company went under the name Immunovative, Inc.
While TAUG may look like a powerhouse now, it is very dependent on news for its upward drive. The company is active with PR and presentations at conferences, and in the short term, the new week should show if it is serious about being a marijuana company.
In the past days, newcomers to the marijuana field have dwindled a bit, but looking back, mentioning the magic word did not work for all smallcap stocks. Similar to TAUG, other companies attempted to expand their business, loosely based on their previous interest in agriculture or biotechnologies. One of those was B Green Innovations, Inc. (OTCMKTS:BGNN), which made the typical fast gain of nearly 300%, only to slide back to the levels before the cannabis hype. Currently, BGNN is at $0.005.
Intelligent Living, Inc. (OTCMKTS:ILIV) has kept some of the gains, though it peaked out at about $0.02. Now, the company that aimed to offer apps for the management of cannabis treatments has slid back to double-zeroes, at $0.008.
If you like TAUG for its upward potential, keep in mind that the company is still relatively new, and that the initial enthusiasm may wear out. Plan your investment accordingly to avoid being caught in stagnant periods or serious falls in price.
