Lobster-Potted TruSpine: Can It Claim To Be Solvent?
By Nigel Somerville | Saturday 8 April 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.
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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