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

By Nigel Somerville | Sunday 19 March 2023

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

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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