New York, NY, May 21, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Tauriga Sciences, Inc. (OTCQB: TAUG) (“Tauriga” or the “Company”), a revenue generating Company that operates through the development, distribution, and licensing of proprietary products as well as the evaluation of potential acquisition opportunities and equity investments, today announced that it is now accepting pre-orders for its newest Tauri-Gum™ flavor – Blood Orange. The Company developed its newest product formulation by incorporating ALL-NATURAL blood orange flavoring. The Company expects to complete this production run of blood orange flavored Tauri-Gum™, before the end of this quarter (prior to June 30, 2019). In total, the Company is producing 875 retail boxes (8,750 blister packs) and has already paid for 1/2 of the total production cost.
The Company is pleased to report that it has already received multiple pre-orders from both existing customers as well as new ones. Pursuant to accounting regulation ASC 606 (performance obligations), the Company shall not realize or recognize revenue until payment has been received and the corresponding product has been delivered to the customer(s).
In other news, the Company is working diligently on several important corporate initiatives (“initiatives”), aimed at both strengthening its brand equity and diversifying its revenue stream(s) – between now and the end of calendar year 2019. These potential initiatives include, but are not limited to: production of a third Tauri-Gum™ flavor (All-Natural Pomegranate), development of a Vegan Acai flavored CBD Gummy, joint venture(s) for product development, expansion of presence to new geographic regions, creation of dedicated/unique point of sale displays, and possible Merger & Acquisition (“M & A”) activity.
ABOUT TAURIGA SCIENCES INC.
Tauriga Sciences, Inc. (TAUG) is a revenue generating Company that operates through the development, distribution, and licensing of proprietary products as well as the evaluation of potential acquisition opportunities. One such opportunity on which the Company has acted, involves the Company having entered into the cannabidiol (or “CBD”) infused chewing gum product business, as more fully described above and in prior press releases. This CBD infused chewing gum product has been branded under the following name: Tauri-Gum™. See also our periodic reports filed by us with the SEC for a more complete description of our business and material agreements that we have entered into. Further, the Company continues to identify and evaluate additional potential opportunities to generate revenue, as well as shareholder value, and leverage its resources and expertise to build a diversified and sustainable business model. Please visit our corporate website at www.tauriga.com.
In addition, on March 11, 2019, the Company announced the official launch of its E-Commerce site - as part of its Tauri-Gum™ commercialization strategy. This site can be accessed by visiting the following URL address: www.taurigum.com
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 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.