Tauriga Sciences, Inc. Publishes Positive Mid-Quarter Update for its 2nd Fiscal Quarter 2022 (Period: July 1st - September 30th, 2021)
Tauriga Sciences, Inc. (TAUG) has released a positive update for its 2nd Fiscal Quarter 2022, highlighting recovery from COVID-19 production delays and strong growth in its E-Commerce and Retail segments. The company has generated record quarterly revenue in just six weeks and successfully launched its enhanced Tauri-Gum™ product line, which drives revenue growth. Moreover, discussions are ongoing with potential distributors and retail partners to enhance shareholder value. The company is also advancing its pharmaceutical development of a cannabinoid-based Tauri-Gum™ for chemotherapy-related nausea.
- Record quarterly revenue generated in first 6 weeks of the quarter.
- Strong growth in E-Commerce and Retail business segments.
- Successful launch of enhanced Tauri-Gum™ product line.
- Improvement in gross margins.
- Ongoing discussions with distributors and retail partners for value creation.
- Previously affected by COVID-19 production delays.
The Company’s E-Commerce and Retail Business Segments are Both Experiencing Strong Levels of Growth
NEW YORK, NY, Aug. 16, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Tauriga Sciences, Inc. (OTCQB: TAUG) (“Tauriga” or the “Company”), a New York based diversified Life Sciences Company, has today published a positive Mid-Quarter update for its 2ndFiscal Quarter 2022 (Period: July 1st– September 30th, 2021). Over the past few weeks, the Company has acquired inventory for all of its new and enhanced products and product lines. The Company was materially affected by COVID-19 related production delays, between the months of May-July 2021. The Company was negatively affected by these delays, during its 1stFiscal Quarter 2022 (Period: April 1st– June 30th, 2021). However, these substantial product delivery issues (relating to availability of inventory) are no longer adversely affecting the Company – as of today’s date. The Company has been able to operate at full capacity, since approximately August 1, 2021.
The Company has already generated record Quarterly revenue (net revenue), in just the first 6 weeks of this Quarter. The Company’s E-Commerce and Retail business segments are both experiencing strong levels of growth and demand. The Company’s recent commercial launch of its enhanced Tauri-Gum™ product line (11 SKUs in Total) has accelerated revenue growth over the past 2 weeks. The Company’s gross margins have continued to improve as well.
The Company has been in discussions with a number of potential distributors, large retail customers, joint venture partners, international vendors, and professional athlete(s). The Company is confident in its ability to consummate agreements that have the potential create shareholder value.
In addition, the Company has recently increased its product offerings on Amazon.com (“Amazon”) – to include its Cherry Lime Rickey flavor 50mg Caffeine Infused Tauri-Gum™. The Company’s product sales on Amazon continue to increase as well.
Amazon Link (Cherry Lime Rickey Tauri-Gum™):
Lastly, the Company is continuing to progress in its ongoing Pharmaceutical development efforts. This relates to the development of a proposed, Cannabinoid based, Pharmaceutical grade version of Tauri-Gum™ - for nausea regulation (specifically designed for the following indication: Patients Subjected to Ongoing Chemotherapy Treatment). The Company expects to issue a comprehensive update on such efforts within the near term.
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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