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….
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…..
It was always coming: fully-listed Edge Performance VCT (EDGH and EDGI) has now confirmed that its re-convened AGM – which was adjourned with no business having been covered way back on 31 August 2021 – is going to take place on Monday 17th January 2022. If that is “as soon as possible” after 31 August 2021 then I am a banana. It was also announced that there will be an EGM as requisitioned (for the second time) to put alternative proposals to shareholders, including sacking the entire Board and placing the outfit into liquidation. But the poor old I-shareholders, who were promised that the entire Board would stand for re-election during 2021, yet not one of them has stood during 2021 – are set for the scrap heap ahead of the meeting. The cowardly Board has elected to disenfranchise them.
I have been flagging up for ages that AIM-listed Yu Group (YU.) needs to raise money. After all, by its own admission it will run out of cash by the end of the year. Now, all of a sudden and with no news, the shares are off by 10%.
On Friday we forced UK Oil & Gas (UKOG) to fess up that it was trying to raise £5 million. It is struggling to fill that back and the shares – now just 1p-1.05p – at least partially discounts the pain that is coming. But ShareProphets readers, when polled HERE, think far worse is coming. I agree.
As Nigel Somerville has just pointed out HERE, Motive Television (MTV) has announced that it has been unable to complete a revised agreement with its largest convertible loan notes holder - seemingly for (lack of) finance reasons. This spotlights the sheer disdain of Motive CEO Leonard Fertig…