Tauriga Sciences Inc. Generates Record Quarterly Revenue for its 2nd Fiscal Quarter 2022

Rhea-AI Summary

Tauriga Sciences, Inc. (OTCQB: TAUG) reported record quarterly revenue exceeding $125,000 for the second fiscal quarter of 2022, marking a significant milestone. The company capitalized on its diversified revenue streams, including E-Commerce, retail, tradeshow, and subscription sales, with E-Commerce contributing 65% of total revenue. Additionally, Tauriga continues to advance its pharmaceutical development initiatives. The company is actively participating in key trade shows to expand its market presence.

Positive

• Record quarterly revenue exceeding $125,000.
• E-Commerce segment contributed 65% of total net revenue.
• Six active revenue sources diversifying income streams.
• Ongoing pharmaceutical development efforts showing progress.

Negative

• None.

NEW YORK, NY, Oct. 01, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Tauriga Sciences, Inc. (OTCQB: TAUG) (“Tauriga” or the “Company”), a New York based diversified Life Sciences Company, today announced that it has generated record quarterly revenue for its 2^nd Fiscal Quarter 2022 (Period: July 1st– September 30th, 2021).  The Company’s net quarterly revenue exceeded $125,000 for the first time (gross revenue was substantially higher).  The Company obtained its main product inventory during the first week of August 2021, and since then, has been pleased by the feedback from its consistently growing customer base.

The Company now has six active sources of revenue: 1) E-Commerce Sales 2) Retail Sales 3) Tradeshow Sales 4) International Sales 5) Amazon.com Sales 6) Subscription “Recurring” Sales 

The Company’s highest margin E-Commerce business segment accounted for approximately 65% of the total net quarterly revenue. 

Separately, the Company continues to realize important progress with respect to its ongoing pharmaceutical development efforts, and plans to provide an additional update to shareholders, as soon as practicable.

Please See Below, the Company’s Updated/Revised Tradeshow Itinerary:

1)   HAMPTON CANNABIS EXPO 2021

•   August 29th, 2021 (East Hampton, New York)

STATUS:  Completed

2)  The AATAC C-STORE TRADESHOW

•   September 22nd-23rd, 2021 (Richmond, Virginia)

STATUS: Completed

3)  The WHITE LABEL WORLD EXPO

•   September 30th, 2021 (New York City, New York)

STATUS: Completed Today

4)  MJ BIZ CON 2021

•   October 20th-22nd, 2021 (Las Vegas, Nevada)

STATUS: Upcoming

5) USA CBD EXPO CHICAGO

          October 28th-30th, 2021 (Chicago, Illinois)

STATUS: Upcoming

6)  KOSHERFEST 2021

•   November 9th-10th, 2021 (Secaucus, New Jersey)

STATUS: Upcoming

  

ABOUT TAURIGA SCIENCES INC.

Tauriga Sciences, Inc. (TAUG) is a revenue generating, diversified life sciences company, engaged in several major business activities and initiatives.  The company manufactures and distributes several proprietary retail products and product lines, mainly focused on the Cannabidiol (“CBD”) and Cannabigerol (“CBG”) Edibles market segment.  The main product line, branded as Tauri-Gum™, consists of a proprietary supplement chewing gum that is Kosher certified, Halal certified, and Vegan Formulated (CBD Infused Tauri-Gum™ Flavors: Mint, Blood Orange, Pomegranate), (CBG Infused Tauri-Gum™ Flavors: Peach-Lemon, Black Currant), (DELTA 8 THC Infused Tauri-Gum™ Flavor: Evergreen Mint), (Vitamin C + Zinc Infused Tauri-Gum™ Flavor: Pear Bellini), (Caffeine Infused Tauri-Gum™ Flavor: Cherry Lime Rickey), & (Vitamin D3 Infused Tauri-Gum™ Flavor: Golden Raspberry).  The Company’s commercialization strategy consists of a broad array of retail customers, distributors, and a fast-growing E-Commerce business segment (E-Commerce website: www.taurigum.com). Please visit our corporate website, for additional information, as well as inquiries, at http://www.tauriga.com

Complementary to the Company’s retail business, is its ongoing Pharmaceutical Development initiative.  This relates to the development of a proposed Pharmaceutical grade version of Tauri-Gum™, for nausea regulation (specifically designed for the following indication: Patients Subjected to Ongoing Chemotherapy Treatment). On March 22, 2021, the Company announced that it had Converted its U.S. Provisional Patent Application (filed on March 17, 2020) into a U.S. Non-Provisional Patent Application.  The Patent, filed with the U.S.P.T.O. is Titled “MEDICATED CBD COMPOSITIONS, METHODS OF MANUFACTURING, AND METHODS OF TREATMENT”.  On December 18, 2020 the Company disclosed that it had entered into a Master Services Agreement with CSTI to lead the Company's clinical development efforts.

The Company is headquartered in Wappingers Falls, New York.  In addition, the Company operates two full time E-Commerce fulfillment centers: one located in Montgomery, Texas and the other in Brooklyn, New York.

DISCLAIMER -- Forward-Looking Statements

This press release contains certain “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995 which represent management’s beliefs and assumptions concerning future events. These forward-looking statements are often indicated by using words such as “may,” “will,” “expects,” “anticipates,” believes, “hopes,” “believes,” or plans, and may include statements regarding corporate objectives as well as the attainment of certain corporate goals and milestones. Forward-looking statements are based on present circumstances and on management’s present beliefs with respect to events that have not occurred, that may not occur, or that may occur with different consequences or timing than those now assumed or anticipated. Actual results may differ materially from those expressed in forward looking statements due to known and unknown risks and uncertainties, such as are not guarantees of general economic and business conditions, the ability to successfully develop and market products, consumer and business consumption habits, the ability to consummate successful acquisition and licensing transactions, fluctuations in exchange rates, and other factors over which Tauriga has little or no control. Many of these risks and uncertainties are discussed in greater detail in the “Risk Factors” section of Tauriga’s Form 10-K and other periodic filings made from time to time with the Securities and Exchange Commission. 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. You should not place undue reliance on these forward-looking statements.

Contact:

Tauriga Sciences, Inc.

4 Nancy Court, Suite 4

Wappingers Falls, NY 12590

Chief Executive Officer

Mr. Seth M. Shaw

Email: sshaw@tauriga.com

cell # (917) 796 9926

Company Instagram: @taurigum

Personal Instagram: @sethsms47

Twitter: @SethMShaw

Corp. Website:   www.tauriga.com

E-Commerce Website:  www.taurigum.com

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FAQ

What were Tauriga Sciences' revenue results for Q2 2022?

Tauriga Sciences reported record quarterly revenue exceeding $125,000 for the second fiscal quarter of 2022.

How much revenue does the E-Commerce segment generate for Tauriga Sciences?

The E-Commerce segment accounted for approximately 65% of the total net quarterly revenue.

What are the main sources of revenue for Tauriga Sciences?

Tauriga Sciences has six active revenue sources: E-Commerce, retail, tradeshow, international sales, Amazon.com sales, and subscription sales.

What is the status of Tauriga Sciences' pharmaceutical development?

Tauriga Sciences continues to realize important progress in its pharmaceutical development efforts.