Tauriga Sciences Inc (OTCMKTS:TAUG) shares ticked 4.55% higher to $0.00460 on Wednesday and were flat in after-hours trading. The company has a market cap of $7.89 million at 1.56 billion shares outstanding. Share prices have been trading in a 52-week range of $0.00 to $0.01.
A few days back, Tauriga Sciences Inc announced that it has received approval from The Depository Trust & Clearing Corporation and is now DTC electronic and is now DTC electronic eligible. This means that the electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors. This also enables the company to allow participants to instruct DTC regarding deposit and withdrawal transactions being made directly via a Fast Automated Securities Transfer Program transfer agent, which eliminates the movement of physical securities certificates for transfers of securities registered in the name of DTC’s nominee.
“The Company is very pleased to have secured this DWAC Services approval from DTCC. The Company believes that this DWAC eligibility will have a positive effect on its ability to secure capital from potential institutional investors. This application for DWAC approval was only made possible once the Company regained its status as a current SEC Filer (fully reporting public company) on December 6, 2016,” said Tauriga Sciences Inc CEO Seth Shaw.
Prior to this, Tauriga Sciences Inc announced it has completed the formulation, graphics, and packaging for its proprietary CBD infused Roll On product for muscle tension relief, branded and trademarked under the name RolLeaf. The company has formed a new subsidiary called ColluMauxil Therapeutics LLCto focus on the development, marketing, and licensing of non-opioid products and product lines that specifically target muscle tension.
“The Company has been excited about the prospects of a commercial launch of its CBD infused Roll On product. Over the past few weeks, there has been significant potential interest expressed to the Company from both distributors and retailers alike. The Company has worked diligently to complete what it believes to be an excellent product with a focus also on the graphics, logo, and packaging to enhance attractiveness,” shared CEO Seth Shaw.
“Due to the DEA’s December 14th proclamation, the Company has been extremely cautious and diligent in understanding and complying with the legal landscape and potential future consequences to launching a product such as RolLeaf. The Company will continue to follow developments very closely and fully commits to its shareholders that it will work to comply with all federal or state laws in its efforts to build potential long term businesses and revenue streams,” Shaw added.
Tauriga Sciences Inc is a diversified company that is focused on the development of technology platform in the nano-robotics space. It is also engaged in acquiring and building a portfolio of technology assets.