Form 8-K for TAURIGA SCIENCES, INC.
12-Apr-2016
Other Events
The Proxy Statement further indicated the proceeds of the Group 10 Note were used for payment under the Settlement Agreement dated June 1, 2015 between the Company and Typenex Co-Investment, LLC, as further discussed in the Current Report on Form 8-K filed with the Commission on June 8, 2015. However, this was an inadvertent and incorrect disclosure by the Company. The Company used the proceeds from the Group 10 Note to fund the expenses related to the Proxy Statement, to make the $41,500 cash payment to the Company’s former Chief Executive Officer and Chief Financial Officer related to her departure, as further discussed in the Current Report on Form 8-K filed with the Commission on July 17, 2015, and to make the $7,000 cash payment to the Company’s from Chief Medical Officer related to his departure.
Except for as set forth above, the Company believes the Proxy Statement is accurate in all material respects. The Company does not believe the misstatement above is material, however it wanted to correct the information which currently exists in the public market.
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