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What’s more important is why an ex NED who was treated so rudely at the EGM would suddenly lend them £30k ? Doesn’t not make any sense to a business woman .
Truspine has managed to obtain an unsecured £30k Loan, despite having granted security over all its assets to The Hub 2021 Limited, who benefit from interest at 20% and 8m warrants on repayment.
This does not make any sense and is a drop in the ocean compared to the £818,172 worth of current liabilities disclosed in the September 2023 Interim Accounts. All overdue.
Has Aquis called in the deferred fine of £165,000? This should be announced via RNS.
Why spend rare cash on due diligence for NEDs who are never going to come on board Much better to discharge genuine liabilities.
Everyone is being ripped off by this incompetent Board.
What is it that TSP are looking into with the proposed new NEDs ? It is getting to the stage of being a long running soap drama this due diligence . And the New year is almost up on us and still no mention of AGM .
Well I would just like to sign off for Xmas and New year on a positive note but unfortunately there is nothing , so Merry Christmas and a Happier New year everyone . Maybe 2024 4th quarter might be our period for good news 🤦♀️
From the admissions document
This Document comprises an Admission Document drawn up in compliance with the requirements of the Aquis Stock Exchange Rules and is being issued in connection with the proposed admission of TruSpine Technologies Plc to the Growth Market of the Aquis Stock Exchange (AQSE). This Document does not constitute and the Company is not making an offer to the public within the meaning of sections 85 and 102B of FSMA. Therefore, this Document is not an approved prospectus for the purposes of and as defined in section 85 of FSMA, has not been prepared in accordance with the Prospectus Rules and its contents have not been approved by the Financial Conduct Authority (FCA) or any other authority which could be a competent authority for the purposes of the Prospectus Directive. Further, the contents of this Document have not been approved by an authorised person for the purposes of section 21 of FSMA. This Document will not be filed with, or approved by, the FCA or any other government or regulatory authority in the UK.
Five empty promises, The Company:
continues to ... is reviewing ... intends to ... maintains its intention ... continues to ...
Absolutely nothing of substance reported, a NON RNS!
The simplest "intends to" would be to convene the 2022 AGM but they can't even do that.
How long does it take to onboard Victoria Sena and Samuel Ogunsalu? Ooh a new condition has been revealed ... the need for "securing adequate funding". That is very telling. These NEDs would be mighty foolish to join the Board of an insolvent company.
Just like to say bravo on new RNS , keep up the good work Laurence your a superstar 😜let’s all look on the positive side in future 🤦♀️all we need now is SP to rocket back up to IPO price 🥳
Cont...
4.8. In its delay in updating the market when loan funds were not immediately available
as announced on 3 January 2023, the Company failed to act with integrity towards
investors. Investors had a false impression of the true cash position of the Company.
4.9. In omitting details of the Charge against the Company’s assets from its
announcement of 28 February 2023, the Company failed to act with integrity
towards investors. Investors had a false impression of the financial position of the
Company and were unaware of the risk to the Company.
4.10. Furthermore, the Company has yet to re-convene an AGM. Whilst the Company has
confirmed that it is of the belief it is acting in compliance with the Companies Act,
the failure to hold an AGM since the adjourned meetings in October 2022 appears
indicative of a failure to act with integrity towards all its shareholders.
4.11. These failings impact on the reputation and integrity of the Aquis Growth Market.
4.12. The Exchange notes the changes to the board during the period under investigation,
in particular the resignation of the CEO, Ian Roberts on 28 February 2023 and
Executive Chairman, Martin Armstrong on 26 April 2023, and the appointment of
Laurence Strauss as CEO on 26 April 2023.
This is very damning and the Company have yet to convene the 2022 AGM which shows their deep disregard for shareholders. So please stop the BS, put some Executive Directors in place who can remedy the above and deliver the Company's objectives!
I am reviewing the Aquis Stock Exchange Disciplinary Decision Notice issued on 16 August 2023 to TruSpine, where a record £215,000 fine was imposed on the Company for a variety of breaches of Market Abuse Regulations, Misleading the Market, Failures in Procedures, Controls and Systems and failures of Integrity to Shareholders and the Stock Exchange.
4. NATURE AND EFFECT OF BREACHES
4.1. As a consequence of the Company’sfailure to correct its announcement of 3 January
2023, the market had an inaccurate impression of the Company’s financial position.
Investors believed that the Company had immediately available loan funding of
£200,000 when this was not the case.
4.2. As a consequence of the Company’s failure to disclose the Charge over the
Company’s assets in its announcement of 28 February 2023, the market had an
incomplete and inaccurate view of the Company’s financial position between 28
February 2023 and 9 May 2023 and was unable to assess accurately the risk to the
Company.
4.3. In failing to keep investors up-to-date regarding the loan funds, and in omitting to
inform investors of the Charge over its assets in its announcement of 28 February
2023, the Company would appear not to have complied with Article 17 (1) of Market
Abuse Regulation (and thus Rule 4.1) by failing to disclose information which would
be relevant to an investor’s decision about the Company.
4.4. In omitting to inform investors of the Charge over its assets in its announcement of
28 February 2023, the Company would appear not to have complied with Rule 4.2
by failing to take all reasonable care to ensure that any announcement does not omit
anything likely to affect the import of the information.
4.5. Rule 3.3 of the Rulebook requires TruSpine to take reasonable steps to establish and
maintain adequate procedures, systems and controls to enable it to comply with its
obligations under the Rulebook.
4.6. The failure to provide evidence of the board’s discussion of, or agreement to, the
Charge over the Company’s assets, together with the failure to advise the Company’s
Aquis Corporate Adviser of the Charge and to include details of this in the
announcement made on 28 February 2023 is indicative of an absence of
fundamental procedures, systems and controls in the governance of the Company,
in breach of Rule 3.3. Pending completion of the Exchange’s formal investigation, a
call was held with the Directors on 10 May 2023. As a result of this call the Company
was required to make a formal submission to the Exchange, detailing improvements
to its systems for verifying and publishing announcements.
4.7. Rule 3.5 of the Rulebook requires the Company to act with integrity towards the
holders and potential holders of its securities and to avoid impairing the reputation
and integrity of the Exchange.
Where’s his last post gone lol , don’t tell me he reported his own spam 🤦♀️
I want to know when Victoria and Samuel are coming on Board. Maybe they can help the criminal investigation...
Or was doing the shouting !!
Fred , Dez2022 hasn’t admitted to hearing the recording of EGm , but seeing that he was probably present at EGM it really doesn’t make any difference . I have listened to the recording and found it outrageous and totally unprofessional .
We are all that deep under water on this that none of us can realistically sell up .
More than likely the only shares what are being bought and sold are those held by the current BOD after all when you get something for free , makes no difference at what price you sell at 💩🤡
Dez2022 -This is probably a pointless exercise—I'm not sure why I bother.
Dez2022 - Well I know why I’m bothering. Because I was made to feel intimidated by the CEO of a company when all I’ve done is try and support a company because I believe in the science which one day could have changed lives for the better
So I will come on here and be honest to say I was the shareholder at the meeting that was called stupid (when all I asked for was a seat and a cup of coffee for shareholders who’d travelled a long distance that morning to attend).
I found Laurance Strauss actually quite threatening towards other shareholders - and I don’t say that, and I would never say that lightly - interesting someone recorded the meeting. I’m actually quite shocked that you say you have heard it and not condoned it - I just don’t understand you for that - I would never under any circumstances want to be in the same room as him again - that’s how he made me feel
However if your version of events is correct we can all look forward to receiving the positive news from the company that’s been promised … let’s see
But all I know is that if there is a miraculous recovery in SP - I’m out immediately unless significant changes are made to BOD . I’m currently so underwater it’s not worth selling
Yes the recording reached me too. I can't remember whether it was from TW or X. The one minute General Meeting! Strauss refused to answer questions about the £200,000 Loan and belated Legal Charge put by a lady shareholder. He was yelling over the top of her like a man possessed, or a two-year child. Was that you Fred?
You can hear more yelling that someone was stupid and How Dare You at his fellow director, Annabel Schild. If it wasn't such vile behaviour it would be comical.
It will go down in history as THE shortest, most unprofessional GM ever.
Something to be proud of Laurence, NOT.
Well I know who I am. I can only say I’m genuine and say it as I see it. I went to the EGM - live locally and tbh worried about my investment. I wanted to meet our CEO Laurence Strauss to be reassured that my investment was in capable hands. I speak for myself and I was totally shocked by how as a shareholder I was treated. I’ve been to many AGM’s, spoken with many CEO’s and never experienced any meeting like the TruSpine one. It was quite shocking - I do believe the vote was rigged. How can you have a CFO standing over the registrar as the vote was counted? I saw it.
Anyway - time will tell - just so disappointed - loved the science but honestly feels like this has been one big scam - would loved to be proved wrong but don’t think I will be
Dez20022.
I don’t care who you are or who you are pretending to be .
You can report all the posts you like that tell the facts about TSP.
Because all the genuine investors in TSP know the true facts about the company . Both mine and Dazzler posts removed because we are genuine investors and trying to warn people of the things we know .
It was mentioned that Messi1966 had posted positive things about TSP in the past , well she/he is in our group of investors and I have it on good authority that’s not the case . In fact it was them who brought all the wrong doings in TSP out into the public domain . Our TSP group don’t need to meet once a month wearing white capes and pointy hats , frolicking around camp fires at Stonehenge . We are a large group who meet in bars and have civil conversations .
And no I wasn’t personally at the EGM but several group members did attend and have listened to everything what was said at EGM via a recording of proceedings .
Best of luck in future and keep dreaming
All the best merry Christmas and a happy new year 🥳
This probably a pointless exercise—I'm not sure why I bother.
My opinion is already shared among fellow shareholders, all of whom support the company and the management team despite the barrage of baseless accusations thrown at them by a few misguided individuals. These allegations hold no water; they are mere hearsay with no evidence to support them, yet like little hamsters they continue peddling on the same wheel.
The individuals spreading this misinformation are the same few people, hiding behind multiple accounts. One even argued with themselves using two different logins to create the illusion of greater numbers. Seriously, it might be time to find a new hobby. Have you considered Minecraft?
I share the sentiments of others regarding your motives, Irishguy, particularly considering the recent remarks about the AGM and the vote. It's quite puzzling, especially since the vote count was independently verified by the share registrars. You question others in this chat as to whether they attended the meeting, did you? If you did, prey tell how this went down, And if you didn’t, where did you get that ludicrous idea from?
Reviewing your previous posts, it's clear that your contributions aim to tarnish the company's reputation. However, when you posted as Messi1966, early on you were supportive of the company. Something must have changed your perspective, or perhaps you're simply discontent because you've sold all your stock. I just can't understand it.
Your motives must be questioned. Despite claiming to be a shareholder, your comments are either off-topic or irrelevant—the same behaviour that led to your previous bans under various usernames.
It's only a matter of time before the moderators intervene again, as you are clearly breaking chat rules, to say the least.
Many TSP shareholders have had legitimate grievances with the company due to slow progress and declining investment value. Holding onto shares in such times requires courage and patience. Nonetheless, prospects are improving, and the company's future looks promising.
I'm sure the individuals behind the vitriolic posts operate numerous accounts and will reappear with new, perhaps comical usernames after being banned AGAIN.
Finally, for those (few) who suspect I am Mike Unwin, Ian Roberts, or Laurence Strauss, you are mistaken.
As I've stated before, I represent a group of around 30 shareholders. We meet quarterly to discuss TruSpine and our collective sentiments. The comments in this chat once caused concern when they first popped up; they no longer do. The general consensus in our group is, confidence in the company and the team.
The only frustration here is that LSE does not monitor this chat.
I completely agree that the NEDs will be key to ensuring the company is stabilised and moved forward. Having a majority independent Board will be exactly what is required.
The sooner the NEDs come on the Board, the better.
Corporate governance needs a damn good shake up and they must have been vetted by now. Would hope to hear any day that Victoria Sena and Samuel Ogunsalu have rolled their sleeves up and taken a good look under the bonnet.
Bit strange to have 5x NEDs to 2x executives.
Why would what happened historically give any indication of what is happening now? The fact that FB paid MU some money in the past surely is more of an indication that MU is not involved any more, given that FB is most certainly nothing to do with the company any more.
If you're saying that MU is someone to be avoided, and that he is connected with FB, this would make sense, given FB is the only one that is a convicted felon.
Why wouldn’t MU be involved ?
I posted that they were all involved with critical flow together and even have copy of message sent from Frank authorising a 10k payment from Euro SI account to MU !
The bonus is for achieving the first launch of funding for Euro SI and should be denoted as such.
Why would an AGM require "opening the books"? You are only required to hold certain statutory resolutions, and none involves providing new financial information.
What makes you so sure that Mike Unwin is pulling the strings? Do you have specific information that he is, or is this just speculation?
What precise crimes do you think the current Board is guilty of?
This share chat is a complete an utter joke when you have the Gatwick beehive crooks posting to try and save their skin ie Londonl no doubt the incompetent corner boy Laurence Strauss and Dez2022 more than likely the main crook Mike Unwin / shadow CEO. Or Strauss’s buddy Barry Sanders.
The fact when you look at their minimum posts on this , it is clear they only set up accounts to post lies in order to try and deflect the fact the company is totally INSOLVENT they have an IP that is contested which without this they have nothing justlike their company bank account. This company was set up as a security fraud by white collared criminals ie Mike Unwin & Norman Lott, following on from exactly what they have done in the past. Strat Aero is the exact same crime perpetrated by the exact same criminals and Truspine was the template for these crooks to repeat their crimes and think they will walk away free with millions of pounds of investors money. NOT THIS time Unwin & crew.
This has been allowed by rogue complacent advisors such as Michael Bennett the lawyer with dirty hands in all Unwins past crimes along with Cairns the financial advisors to name a few .
They haven’t called an AGM because it will be obvious that the company is insolvent and they are trying to kick the can down the road to road to buy more time. The FDA approval 😂 they haven’t paid the US vendors that hold the critical information in order to submit a valid application . We are not privy to the FDA response but it will be something along the lines that the application can not be moved forward without report X which will never happen as these crooks have not paid to have the information completed or finalised but will continue to mislead the market by putting out lie after lie in fake RNS all of which are all totally misrepresenting the true facts. This company needs to be shut down immediately and a full forensic investigation done on their bank accounts done as a matter of urgency.
Time is up and if Acquis do not suspend the trading of this fraud it will come back to haunt them given the amount of information they have at hand to put an end to this debacle which will hopefully end in Jail time for ALL the crooks involved. Londonl and Dezz2022 I sincerely hope you both get a very long jail sentence for your crimes to innocent shareholders.
Irish boy you know and I know they will not hold an AGM because criminal Lott will not want to open the books. Lott is holding on by his nails but not for very much long all being well.