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Hey Messi,
Funny the share price is showing blue today, never get how it works when the only thing I see on the trades for this today look like sells below 8p. No L2 available for this, assume because of Aquis listing.
Will probably add more punting money if it dips below 8p though tbh just because of the potential on offer at huge discount to IPO. Trying to keep a lookout for news in the US on cadaver access and testing etc
ATB
Thanks for that Messi - in the long term I don't see a problem once FDA appovals are underway...let's hope ECP can prove their worth when necessary! Fingers crossed for FDA progress shortly.
Hi Timmit,
I guess we won't know the full legalities as we won't see any contracts. You're right though - witholding funds from a subscription seems dishonest and I'd hope TSP are not reliant on the money; it's a shame TSP is in bed with such characters, unless truly there is a valid reason for witholding of funds....i'm dubious - at least TSP has stated they do not need the money for their working purposes, which at the moment only seems to me to just involve waiting for the FDA approval process to start before ramping up a marketing campaign.
Messi, why would TSP pay ECP anything? their alloted shares (694,444) represent under 1% of the diluted capital of the company.
Surely, there exists a contractual obligation for ECP to purchase these shares at the price agreed. Otherwise every "subscriber" to an IPO could hold off for 6 months to see whether the price had moved against them or not. I'm more concerned that we are trusting this ECP "outfit" to be our advisor. If they have pulled stunts like this before and get a reputation in the marketplace it may well tarnish TruSpine's brand
Exactly my thinking, good to see we are thinking along the same lines - When you think the IPO was 36p on the basis of an imminent FDA approval process, which has only been delayed because of COVID and nothing else, then accumulating at below 10p seems while the limelight is elsewhere seems like quite a tasty opportunity
Sorry didn't see your post, must have been while I was typing....holding here long term!
Hi Messi,
So today I am slightly optimistic following the annoucment this morning.
Firstly, yes in their last announcement Truspine said "Cadaver lab time and testing has been booked for February 2021, pending further COVID-19 restrictions." --- important to note the pending covid restrictions part as this was previously the case for the Q4 booking so it's hard to know if covid restrictions are still impacting lab time....and we still have not had confirmation testing is taking place.
However, today's announcement has given me my more optimistic outlook: the subcrisption partner ECP has not backed out completely despite the relatively wish washy delay excuse that "COVID-19 restraints experienced by ECP in completing their respective business matters" are to blame for the extensions to date (don't know how covid prevents paying for subscribed to shares??) Furthermore "the Company and ECP have reached a further agreement to extend the deadline for the subscription date to 5 April 2021"
Clearly ECP still recognise the quality product this company is developing otherwise why not just back out and forget the subcription shares completely? I hope this means there may be a confirmation annoucment from the company that lab testing is ongoing/will be going ahead...it's like the carrot dangling in front of the donkey and tbh I think ECP are more interested in deploying their money elsewhere in the meantime until they have more certainty of progress here.
Any thoughts?
Given nothing has been said by the company, and the deadline extension for the agreed subscription is 28th Feb, this being the last working day before the, I reckon the monies are not forthcoming from Evrensel Capital - bit harsh/dishonest from them given the delay to cadava testing for FDA approval has been because of COVID and they had subscribed to the IPO at 36p.
Maybe good business for them to now low ball subscribe at these reduced prices.....
The delay to cadava acesss for testing from December was supposedly 3 months. It’s been 2 months since then and no news, 1 to go, hold on to your trousers...