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Keyword results: TSP

TSP
TSP

BREAKING SHOCKER: TruSpine Sanctioned As Aquis Shows Oxymorons How To Do It

Aquis-lobster-potted comedy shit-show TruSpine(TSP) has been publicly censured and fined by the Exchange for a series of breaches covered here on this website, and a few more besides. The report issued yesterday - which can be read HERE - is utterly devastating, and a lesson to the Oxymorons at AIM.
TSP
TSP
PREMIUM CONTENT

Lobster-Potted TruSpine – the Comedy Continues With A Fundraise Of Just £50k!

Last covered, lobster-potted TruSpine (TSP) on the Aquis exchange had just survived a shareholder revolt to sack the board following a dispute with the inventor of its IP (ownership of which is under dispute). Since then it has sacked one board member, submitted its massively overdue FDA application for a spinal device which I suspect will run into difficulties, remains technically insolvent and today has announced it has raised a paltry £50,000 – not even enough to keep the lights on!
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TSP
TSP
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Aquis Lobster-Potted TruSpine: Board Survives Requisitioned EGM But What Now?

The long-running saga at Aquis lobster-potted TruSpine (TSP) came to a head last week with the requisitioned sack-the-board EGM. The Board survived (just), but what happens now?
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TSP
TSP
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BREAKING EXPOSE: TruSpine: The Link Between The CEO And Secured Lender Hub 2021 Ltd

Oh dearie me. Another day, anther revelation – this time of a link between Aquis-listed TruSpine (TSP) CEO Laurence Strauss and Hub 2021 Ltd – with which Strauss signed a debenture over its (claimed) IP more than two months after the announcement of a loan (which the company at the time claimed had already been made). Ooopsadaisie….
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TSP
TSP
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BREAKING: We publish new bombshell email to Aquis Lobster-Potted TruSpine - surely shares must be suspended and Police called in

I have covered the technical insolvency of Aquis-listed TruSpine (TSP) many times on this website, and its failure to submit an FDA-application for its Cervi-Lok product by December 2020 as promised in the paperwork for its Aquis flotation in 2020, ahead of which it had apparently raised £1.4 million and a further “binding subscription” for £250,000 which never arrived. The company updated the market at Christmas that the application was delayed, but when did it know this would be the case? This is shocking.
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TSP
TSP

Aquis Lobster-Potted TruSpine - More Shambles: Is This A Clear Breach Of The Rules?

The Aquis rule-book is pretty similar to that of AIM. In that regard, one would assume that the company is obliged to keep its shareholder information offered on the company website up-to-date. But the shambles that is TruSpine (TSP) clearly hasn’t been: if what follows isn’t a breach of the rules, it jolly well should be – and there are real-world consequences!
TSP
TSP
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BREAKING: TruSpine – Oopsadaisy……Ouzo At Deputy Sherrif Towers Too!

Oh dear, oh dear – it is hard to imagine things getting any worse at Aquis lobster-potted TruSpine (TSP). Given that it faces a requisitioned sack-the-board EGM at the end of the month which seems to me certain to succeed, it is technically insolvent and running out of cash and, critically, has failed to deliver an FDA application for (it claims) its Cervi-Lok IP which was promised back in December 2020 and numerous fundings have mysteriously vanished you would have thought it really couldn’t get any worse. But today…..
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TSP
TSP
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TruSpine – No-One Is Watching O’Clock RNS Announces Sack-The-Board EGM: Beer And Popcorn For 31st May!

Yesterday, at 3.35pm – as the City was winding down for the coronation – the board of TruSpine put itself up for a special crowning too as the date was set for a sack-the-board requisitioned EGM. The accompanying CEO statement will, I suggest, just harden the attitudes of rebel shareholders.
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TSP
TSP
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BREAKING: TruSpine – Mortgages Itself, But What Is The Security As Things Go From Bad To Worse

Oh dear, oh dear, oh dear. If you thought things were bad at Aquis-lobster-potted TruSpine (TSP) they seem to have got a whole lot worse. Quite apart from the sack-the-board EGM Requisition, it now appears that the company has mortgaged itself up to the hilt – including its intellectual property…….but I might have bad news on that front. Oh, and it is Ouzo time once again as the company finally admitted that its would-be funder announced back in January with £200,000 available immediately isn’t funding it after all. Again. There's a surprise......not!
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TSP
TSP
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Dynamite Bombshell On The Lobster-Pot - TruSpine Gets An Email & I now have it!

I have wondered aloud as to whether Aquis-listed TruSpine (TSP) was telling the whole truth about the severance of its relationship with the inventor of its (or perhaps not its) products. A dynamite email has landed with me which asks many questions, as you can see below.
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TSP
TSP

Lobster-Potted TruSpine: Can It Claim To Be Solvent?

We all know that Aquis-listed TruSpine (TSP) is in a total mess. Its immediate problem is that its net current assets are well in the red, a loan and funding deal, promised as being “available immediately” in January, hasn’t materialised and now the relationship with the inventor of the company’s products has been terminated by the company (or was that the other way around?) before the long-promised but never delivered FDA application for the products has materialised. So is it, in fact, insolvent?
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TSP
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BREAKING: TruSpine – Total Shambles On The Lobster-Pot: Surely It Should Be Suspended Forthwith? Does it really own its IP?

This morning the shambles that is the technically insolvent Aquis-listed TruSpine (TSP) updated the market: its chairman has resigned (or, perhaps “has been” resigned) and the company tells us that it has terminated its relationship with, in effect, the inventor of its spinal products. In my view this nonsense should be suspended from trading forthwith, pending financial clarification……or just sent to the corporate undertaker’s office immediately and a clarification statement is needed urgently.
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TSP
TSP

EXPOSE: TruSpine - In Whose Interests......?

Those who have been following my pieces about Aquis lobster-potted spinal product outfit TruSpine (TSP) will know that it hasn’t met a single target ever set since listing on Aquis and its balance sheet is currently a wreck. You will also be aware of a funding package announced at the beginning of January offering funds “available immediately” hasn’t brought in a penny two and a half months later. At the end of February the company announced that an alternative lender had been found to cough up £200,000 at 12% interest – rising to 20% if the loan is not repaid by 31 July 2023. It was nowhere near enough to see the company through, as shown by its update a few days later. But was there another, much larger, offer on the table – which was or is being ignored?
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TSP
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Aquis Lobster-Potted TruSpine Comedy Continues: The £200k Arrives…..From A Third Party

TruSpine (TSP) - the spinal product shambles on the Aquis lobster-pot - told the market on 3rd January 2023 that a £200,000 bridging loan was “available immediately” but did not arrive in January at all…..or February. The company has now announced that a third party has stumped up £200,000 in addition to the bridging loan facility and non-binding letter of intent for equity financing. Oh, and the CEO has (or has been) resigned (but remains with the company). Red Flags for breakfast, anyone?
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TSP
TSP
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BOMBSHELL EXCLUSIVE: Leaked email & spreadsheet shows exactly how TruSpine dicks its creditors on whose support it depends

This morning, Aquis listed Truspine (TSP) has admitted that refinancing has ( again) not yet arrived and that it is reliant on the support of its creditors. Unfortunately for it, we have has been supplied with an email and spreadsheet showing exactly how it is dicking its creditors and how big the sums involved are for each creditor. Naturally we publish in full.
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TSP
TSP
PREMIUM CONTENT

TruSpine: How Do You Confuse An Idiot?

Aquis lobster-potted TruSpine (TSP) released a statement yesterday morning to tell us that the £200,000 bridging loan, available “immediately” on 3rd January (but never arrived), which was expected to be received “shortly” on 1st February, has still not arrived. Natch, the company maintains it is on its way. Yeah, right…..the cheque’s in the post, caught up the mail strikes and next up it won’t have been signed.
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TSP
TSP
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TruSpine – Was It Telling Porky Pies In January RNS?

I’m not sure that one can believe anything that Aquis lobster-potted TruSpine (TSP) says. Its IPO didn’t raise the funds stated, it failed to meet the year-end deadline following IPO to submit its FDA approval application for its CerviLok spinal support system and has missed just about every deadline set. On 3rd January 2023, having run perilously short of funds, it told us that it had entered into a Bridge Loan facility – £200,000 to be available immediately.
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TSP
TSP
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UPDATED Aquis Lobster-Potted TruSpine: Where Is The Funding, Then?

The comedy continues on the Aquis lobster-pot, where TruSpine (TSP) listed in August 2020 promising to have an FDA-application submitted by year-end for its spinal stabilisation system, which is still outstanding some two and a half years on. Worse still, it needs funding pdq: the fat lady is hovering in the wings right now.
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TSP
TSP

Lobster-Potted TruSpine – Late Results A Dog’s Breakfast And Possible Funding…Or Not! AVOID.

This morning Aquis lobster-potted TruSpine (TSP) finally served up the interim results to September 2022 that it should have released before the calendar year-end. They are truly dreadful – and were accompanied by a funding announcement which may or may not happen. Given the company’s record, I expect a delay, then another delay…..
Bearcast
PREMIUM CONTENT

Tom Winnifrith Bearcast - back on the sick bed

I have no idea what this lurgy is but I cannot throw it off and feel dreadful. In today's podcast I cover Truspine (TSP), Vast Resources (VAST), Bens Creek (BEN) a zero for 2023, and San Leon (SLE).
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TSP
TSP
PREMIUM CONTENT

EXPLOSIVE EXPOSE: TruSpine – Tracing History, Part Two

I have been getting more interested in Aquis lobster-potted TruSpine (TSP) every day – more particularly the people behind it. In part one I looked at CFO Norman Lott. Now I want to look at the inventor of TruSpine’s devices – Professor Frank Boehm. This will shock you.
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TSP
TSP
PREMIUM CONTENT

BREAKING MAJOR EXPOSE: TruSpine – Tracing History, Part One

I am getting more interested in Aquis lobster-potted TruSpine (TSP) every day. More particularly, the history of its management: step forward CFO Norman Alec Charles Lott.
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TSP
TSP
PREMIUM CONTENT

TruSpine – The Aquis Comedy Shit-Show Heads For Disaster

I have been keeping an eye on Aquis lobster-pot listed Truspine (TSP) for almost two years, ever since it announced on Christmas Eve 2020 that its application for FDA clearance for its Cervi-Lok product would not be in by the end of the year, as promised at its IPO the previous August. The company has been remarkably silent since announcing that its financial position remained weak on 31st October this year. Hmm…….
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TSP
TSP
PREMIUM CONTENT

TruSpine Updates On Whereabouts Of Mr Godot (...or not)

He was coming by the end of 2020. Then he was going to appear during Q1 2021. Then Q2 2021. Then by the end of the year. And then by the close of Q2 2022 – ie yesterday…….and surprise, surprise, he hasn’t come. But he is most certainly coming tomorrow. Honest, guv’.

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Bearcast
PREMIUM CONTENT

Tom Winnifrith Bearcast: Argo Blockchain and Cineworld both nailed down shorts and possibly zeros

In today's podcast, I discuss SUPP (Formerly WPCT), Argo Blockchain (ARB), Cinworld (CINE) and the Vela (VELA)/Truspine (TSP) farce. 

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PREMIUM CONTENT

UPDATED: Shambles - Vela Technologies Investment (Or Not!) Into Aquis Lobster-Potted TruSpine, P45 needed somewhere!

In an extraordinary announcement this morning, AIM-listed Vela Technologies (VELA) has announced that it has just discovered that – unbeknown to its Board – it had apparently invested £300,000 into Aquis-listed TruSpine (TSP) as part of a subscription announced by TruSpine on 31 May 2022. What???!! And then this afternoon a clarification.

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TSP
TSP

Aquis Lobster-Potted TruSpine: Well There’s A Thing, Says Mystic Meg!

On Monday I asked When Will The Money Run Out? at Aquis lobster-potted TruSpine (TSP) and yesterday we got the answer, in the form of a placing, subscription and a debt-for-equity exchange raising £700,000 (before expenses) of new money and converting a stack of outstanding directors fees and third party creditors. Eat your heart out, Mystic Meg! Oh, and er…..oopsie…..the company “forgot” to mention that it had issued 724,902 shares to third party creditors back in November, failing to issue an RNS or apply for those shares to commence trading. Move along please, nothing to see here!

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TSP

Aquis Lobster-Potted TruSpine: When Will The Money Run Out?

Aquis-listed TruSpine (TSP) is yet another of the disastrous recent IPOs to have sullied the London markets. Having joined the lobster-pot in August 2020 at 36p, the shares have utterly collapsed in the wake of an IPO subscription doing a runner and multiple delays to the approval of its Cervi-lok spinal stabilisation device, which was supposed to have seen FDA submissions completed in Q4 2020 and we were promised commercial sales in 2021. Here we are at the end of May 2022 and the FDA has not yet been satisfied, there is no sign of any sales and the shares are now just 4.3p in the middle. Ouch! But has the company run out of cash?

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TSP
PREMIUM CONTENT

TruSpine – Interims In No-One-Is-Watching Week…..When’s The Placing?

Our old friends at Aquis-listed TruSpine (TSP) have been at it again, releasing interims results to September and announcing yet more delays for its Cervi-LOK product during no-one-is-watching week. Oh, and the cash is running out yet again. What’s not to like?

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TSP
TSP

Aquis Lobster-Potted Truspine – Dressing up bad news as good as Godot STILL Doesn't Arrive

Noting I would keep my watchful eye on Aquis lobster-potted Truspine (TSP) in the wake of a Christmas 2020 update that its FDA-approval paperwork was three months behind more-or-less on deadline day, I see that the company has announced that it has applied for its Cervi-LOK spinal product to be designated as a “Breakthough Device Technology”. Whatever……here we are in November and the FDA 510k application for this device, originally due last Christmas, has still not been filed. But it gets worse……

PREMIUM CONTENT

Rutherford Health (formerly Neil Woodford Favourite Proton Partners) – Is Reality About to Bite?

This website has made no secret of its cynical take on the valuation of one of Neil Woodford’s most controversial investments into Acquis lobster-pot listed Rutherford Health (RUTH), formerly Proton Parters. There was a tiny investment made at its IPO allowing Woodford to mark up his original investment heavily, but since Woodford held all the cards apart from Rutherford’s management, there was nobody to sell and thus the apparent price was, we argued, totally illusory. We predicted problems when the cash ran out……

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TSP
TSP

TruSpine – Joke Placing from Joke Company

Aquis lobster-pot listed TruSpine (TSP) has announced a placing raising just £650,000 – of which only £500,000 of actual cash was raised (the balance being fee shares, one presumes to the fine Broker involved to cover coke and hookers costs). Quite why anyone would pay 10p for shares which are trading at just 8.75p (up 0.65p) even after the announcement) is beyond me! But the highlight was the update over FDA submission for its Cervi-LOK product.

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TSP
PREMIUM CONTENT

Truspine – More Aquis-listed Nonsense: who would pay 10p for shares worth now just 7.3p?

After yesterday’s shambles, when Aquis-listed Truspine (TSP) finally reached the inevitable conclusion that £250,000 due for shares at the IPO last year in August at 36p a pop was not going to come in. Not surprising, as the shares have since cratered by 75%. The shares dropped on the news by another 13% to just 7.3p. Truspine has been somewhat tardy with regard to updating the market on progress….or lack of it……but has been rattling the tin at 10p per share. One would have thought that under the circumstances the computer would just say “no”, but…..

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TSP
TSP
PREMIUM CONTENT

Truspine – The Aquis-listed Comedy Continues as rule breaches surely mount

Having noted the potential for entertainment at Aquis-listed Truspine in the New Year Red Flags Sweepstakes special, when the new listing on the lobsterpot announced disastrous Interims to add to its Christmas Eve announcement of a delay to the FDA application for clearance of its Cervi-LOK product due at the close of the year which apparently it had only just noticed, we have more news……no sniggering at the back!

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TSP
TSP
PREMIUM CONTENT

Comedy Central at Aquis-listed TruSpine

I noted the huge potential for free entertainment at Aquis-listed TruSpine (TSP) in the New Year Red Flags Sweepstakes results, when TruSpine had achieved the dubious double of a Red Flags Christmas Eve RNS (a three month delay to the application for FDA clearance of its Cervi-LOK product that was due at the end of the month which it apparently had only just noticed) and another on New Year’s Eve in the form of Interims to September 2020 showing net current assets of just £511,813 after a loss of £423,148. This week saw some news. No sniggering at the back……..

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Red-Flag

COMPETITION RESULT: New Year’s Eve Red Flags Sweepstakes…….and two Special Awards

And so New Years’s Eve has come to a close and the Red Flags in the form of no-one-is-watching o’clock announcements (or in one case, non-announcement) of bad news have come to an end.

Father Christmas
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The Great ShareProphets Christmas Red Flags Sweepstakes – The Result

Unfortunately Boris Johnson is still celebrating his Brexit success, before sharing what is in the document with anyone else. What could possibly go wrong!? So he has asked me to help out with the final adjudication of this year’s ShareProphets Christmas Red Flags sweepstakes  – with, as ever, absolutely no prize at all beyond the immeasurable kudos involved. So here is my list of RNS Red Flags on Christmas Eve.

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