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Lex Parsimoniae
The names always remain the same. MA, AS, FB, MU, NL, etc. They are all involved.
Occam's Razor.
All these ex NEDs putting money into TSP fund , makes me wonder what kind of information LS is giving them in return .
Could this be considered inside information ?
Only thing that makes sense is if LS is passing on news about FDA to these two (why else would these two loan TSP money with no interest but MA gets more shares) us poor shareholders are being shafted left right and centre .
This RNS is demonstrably false. The FDA does not have a dialogue with anyone. Laurence is a charlatan and this canard has gone on far too long. Hold the AGM so share holders can finally address you cowards.
"Further to the announcement on 5 January 2024, the Company confirms it has submitted additional documentation to the FDA in respect of the additional clarifications that the FDA were seeking. In the weeks leading up to the FDA submission, the Company has been in dialogue with FDA representatives in order to ensure all clarifications were discussed and answered to the extent possible. A further announcement will be made in due course."
Yes this is another empty RNS for a device where the IP is contested.
What the FDA need is data, solid data from key vendors. But if there is no money to pay for vendors to perform their tests, their will be no data. No meaningful documentation to submit.
If they reconvened the 2022 AGM maybe shareholders could discuss these hollow RNS.
Strauss and Lott need to go!
It’s on saying going for fictional FDA , but they still haven’t sorted out the I P issue yet .
So even if by some miracle (god knows how without actually owning I P ) they say have FDA passed , nobody going to invest till they own I P .
I'm guessing that their promised fund raised has evaporated, the Board know they have zero support from existing shareholders, who all want them gone, and it's just a desperate attempt to buy more time in the hope that an eventual FDA approval will allow them to raise money at a higher price.
In reality, they have so undermined their own credibility that any fund raise in the future will now have to probably be at a discount to the current share price, rather than a premium.
I was just wondering when they got this feedback from FDA ? It’s Monday morning and just had weekend , FDA don’t work Saturday and Sunday .
Is it just a case of oh it’s Monday we haven’t put out any BS lately , let’s use that old chestnut FDA 🤦♀️
Agreed, more jam tomorrow and implying that the FDA approval is almost in the bag, when the FDA can still turn down the application up to the very last moment. It's LS desperately clinging on as his company runs (ran?) out of money and depends on more and more debt to limp on to insolvency.
Desperate.
Well I guess they are running out of excuses now . They can’t say been in discussions with FDA for weeks and come back with : FDA still requires more details :
TBH, no I don't beleive MA lent the Company any money. Not sure about AS
But do you honestly believe the the £80k actually left xNEDs bank accounts and made its way to TSP . Because I don’t believe , just another fictitious RNS , to keep Aquis happy . Where’s Mr PR guru Alan Green ? He’s gone quiet .
Don't forget the shareholders who lent the company £35k in December 2022 before the £200k was secured to Mr Strauss friend, Barry Sanders. These loans were due December 2023 and have not been repaid.
They are a drop in the ocean compared to the (possibly understated) numbers reported in the Interim Report https://investors.truspine.org/docs/librariesprovider61/archive/results/interim-results-2023.pdf :
£ 759,537 Trade and Other Payables
£ 68,635 of Borrowings in Current Liabilities, and
£ 200,000 Non-Current Borrowings (Mr Sanders related party loan)
£ 1,028,172 of Total Liabillities
Truspine already owe over £1m and 2x former NEDs choose to lose another £80k ...
Hopefully another RNS will clarify!!!
There all laughing their heads off at shareholders. They’ve had £80k off two ex NEDs in lat couple of months Two people who have supposedly been sacked and made out to be liabilities by Mr Strauss in previous RNS .
You have to start to wonder if these X NEDs are still on payroll . When’s Mr Roberts going to pop up with next loan or is Frank going to also come out of the woodwork with a loan to keep the scam going .
All this incoming money and still we have no news on new NEDs , or what information the FDA still require to get this fictitious clearance .
Barry Sanders must be laughing his head off. Having a compromised former NED Chair putting his hands in his pockets for £50K when Sanders has the Legal Charge and is accruing interest at 20% with 8m warrants on repayment of his paltry £200k loan.
Sanders is making the NEDs look completely daft. But then he is mates with Laurence Strauss.
Just struggling with why would Martin Armstrong, an Insolvency Practitioner, lend such a small sum as £50k interest free when he is not even a director any more?
Just seems very odd to me plus what about all the other liabilities reported in the Interims? £1m of debt and he lends another £50k when there is a Legal Charge.
Doesn't make sense …..
The whole BOD and all X Ned’s should be arrested , they’ve had nearly 4 years and we are still no further forward . The amounts of money they have stolen is beyond belief . And all this been allowed by the corrupt Aquis set up .
I personally can’t wait until Daytrade local MP eventually pulls his finger out .
Or his he in on this scam too , it seems to run deep, the sheer criminality involved .
The 2022 AGM was adjourned and then put off and put off. In May 2023 rebel shareholders got a resolution through to reconvene it as soon as possible. Here we are now in February 2024 and the wretched thing still has not been called. Today we are told: Further to the announcement of 27 November 2023, the Company intends to reconvene the 2022 AGM as soon as practicable and a further announcement by the Company in relation to the notice of the 2022 AGM will be made shortly. So Mr Godot promises to come “shortly” – not even tomorrow! This is a laughable state of affairs – and the 2023 AGM is also outstanding, not to mention this year’s in due course. Why have shareholders not been given the opportunity to, amongst other things, quiz the Board over what exactly is going on? They might wonder about the various funding rounds that never materialised. They might wonder about the corporate governance fiasco. They might even wonder why, having been promised an FDR application at IPO by Christmas in 2020 (which was not achieved), the FDA has still not approved the company’s spinal product. But above all, shareholders will surely wonder why the company has limited working capital resources at present and continues to carefully manage its weak cash position and hasn’t managed to repay a loan from apparently sacked director, the saintly Annabel Schild, which was due for repayment by 31st January. Indeed, one might ask why it has taken two weeks for the company to ‘fess up on that. Moreover, it now discloses that it has gone begging bowl in hand to former non-exec Chairman Martin Armstrong for a £50,000 loan, convertible if the company ever gets FDA approval, at 2.5p. This, in addition to the outstanding £30,000 loan from Ms Schild which was used to pay fines imposed by Aquis. The whole thing stinks: the company is surviving, clearly technically insolvent, by a thread. One has to wonder how an Auditor would view its solvency and whether the shares should at least be suspended pending clarification. But there’s no sign of that. Not yet, at any rate. In my view, the whole setup should be kicked off the London markets – anyone invested really is asking for it. The stance remains sell.
It doesn't look good for either Annabel Schild nor Martin Armstrong. Two NEDs who should know better granting loans to an insolvent company that has granted Baz Sanders a Legal Charge over all the assets. Baz should be the one putting his hands in his pockets if anyone.
Just another scam RNS , doubt any money been transferred to TSP and seeing that Mr A is a liquidation specialist , he’s looking for another sideline ,here’s £50k no interest on it no need to repay before next year but you’ll give me a lump of shares that are worthless in future maybe , sounds good to me 😂
How exactly are they supposed to be benefiting from this? Hardly like they’re making lots of money on the side
What can you say about latest RNS .
How are they allowed to stay in business?
Shares are worthless. company is dead as a dodo , it’s now obvious that even the two ex BOD who are alleged to have loaned TSP money are still working within TSP to keep this scam alive . How long before Mr A is brought in to liquidate TSP .
Aquis are to blame for all of this , they have provided TSP the platform to carry out these crimes ,.
Wow a trade gone throu!!!!! Someone on BOD must be getting desperate again . Any news on FDA ? Any news on that £30k loan being repaid ? Any news on NEDS ? Any news on AGM?
In fact wtf is going on ? Even Mr positive group leader can’t spin this debacle
Well I would have thought a RNS would have been released today to state , repayment of £30k loan . Surely this is vital information for shareholders ?
What happens if TSP don’t repay the £30k loan ? Does AS then have a rightful claim to take over BOD ? Or is it just another debt outstanding to add to long list and yet another mug added to list of delinquents?