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Andynich on your point below;
Finally, regarding sales from USA, as per RNS on 1st of April :
https://www.investegate.co.uk/truspine-technolgs.--tsp-/rns/subscription-and-corporate-update/202104010700102174U/
"While the FDA application will be later than previously notified in the announcement of 24 December 2020, the Company is still on track for the commercial launch of the Cervi-LOK™ device during 2021."
You failed to mention the first part of the statement
“Following the successful lab test, it is expected that a further lab test will be conducted in April or May 2021 with additional third-party surgeons for final refinement of the Cervi-LOK™ device and instrumentation prior to lodgement of the FDA application.” It is now June and no announcements on third party testing has been made ??? So by the time this actually happens and a further 90 days for FDA approval there is no way it will be on track for launch this year.
Andynich I can assure you I have no agenda other than making sure my investment has a chance to succeed. I totally disagree that posting frustration on this forum is unprofessional. If it gets through to hopefully one of the board members and a difference is made then great.
Ian Robert’s was a gamble to be employed as CEO he has never run a company before let alone a listed ltd company. He has been a journey man sales manager . It is clear that he is out of his depth and hopefully the board will do something before it is too late. I want to see Truspine proser and for all of our investments to succeed trust me.
You will have coins & not notes if changes are not made and made soon.
Andynich I am very glad that you acknowledge that you know nothing about my financial situation so on that basis you really shouldn’t have made comment / assumptions in the first place.
As I stated I want Truspine to succeed as much as any other shareholder. The points I am making are very reasonable given the fact that the communication from Ian Robert’s has been horrendous.
The forum gives individuals the opportunity to make comments on exactly how they feel the company is being run, in the hope if enough noise is made by shareholders on various aspects that the BOD will take action. I am a self employed company director and take comments from my customers on social media very seriously and act on them as necessary.
Actions speak louder than words and how Ian Robert’s has conducted himself as CEO has been awful. He came out all guns blazing with his big video on the IPO day through Proactive Investor on what great things he was going to do.
Let’s have a look at what he has done :
1- The mess that ensued over the Evrensel debacle & the £250000 that never appeared, what has he done to pursue this legally absolutely nothing, during the raise he was quoted as saying - Ian Roberts, CEO, commented: "Whilst the delay in the subscription is frustrating, we are in constant communication with Evrensel Capital Partners Limited. It is a pity he hasn’t been in constant communication with his shareholders again we know nothing on how that is being currently dealt with.
2- The share price has dropped 85% from IPO on his watch and what has he done to stop that by the looks of it absolutely nothing. I acknowledge that there is manipulation of the stock price by the Market makers but has he contacted anyone in Aquis for an explanation obviously not or we would not be sitting with the SP as it is.
3- No PR has been done what so ever and on contacting Walbrook it appears they no longer work for Truspine so are they now operating without a PR company?
4- A website that took over nine months to fix & show the real time price of the stock. Attention to detail is clearly not on his agenda.
5- Communication and lack of it.
No announcements on third party testing or where they are at with the FDA submission . We get irrelevant announcements that make absolutely no difference in helping turnaround the share price and Investors confidence. Other investors such as Dazzler on this forum stating that they have tried calling to speak to Ian Robert’s but he hasn’t returned their call as yet.
In response to your comments how is progress being made? Why would Annbell Schild or any other early investor sell at 7p . I agree it was positive to see Oberon increase their shareholding but apart from that I am struggling to see progress or I might if Mr Robert’s maybe made positive news announcements. I have it on good authority that Mr Patel is a personal friend of Robert’s. TBC
Andynich you know absolutely nothing about my financial situation or what investments I have or don’t have to make sanctimonious comments like that. I have a substantial investment in TS but it’s very far off the mark from having all my eggs in one basket from my diversification in various investments. I am an investor with many years experience and have seen it all before. It is better to nip a problem in the bud early on before it turns into a tsunami style disaster.
As a shareholder I have every right to voice my opinion and concerns. If you bother to read other posts from TS investors you will find a lot of very disgruntled investors from an 85% drop in share price from the IPO!
So please explain which parts of my post are speculation & border line baseless accusations . I happy to back them up with facts.
Mr Patel is not needed at this stage because True Spine will not have enough money to launch in the UK & Europe till they start generating income in the USA from sales, which is 3-4 years away.
Andynitch I am far from bitter just very annoyed at the way Robert’s is performing as the CEO. I have a substantial amount of money invested in the company and I am angry at how he is communicating or should I say not communicating with shareholders. He fails to make announcements that matter to investors.
How is Mr Patel an amazing appointment??? The product is being launched in the USA not the UK or Europe where it hasn’t even got clearance to trade.
If they announced that they had the leading American spinal surgeon onboard that would be a different matter . I suspect he is one of Robert’s golfing buddies and it’s jobs for the boys.
I want to hear as I repeatedly say have they done the independent testing with third party surgeons and when will FDA approval be submitted . This is the only thing that matters at this moment in time and is the only thing that will help get the share price back up near the IPO level.
Mr Patels appointment is irrelevant at this stage because it will be a long time till they enter the European market as they haven’t even got over the first American hurdle.
So Andynich I hope that answers your question on my standpoint. I want Truspine to succeed or I wouldn’t have sunk the money into it but I am extremely nervous on how it’s performed since the IPO and the buck stops with the CEO who has done nothing to give me confidence. If you look at his CV he should never have been appointed as CEO and hopefully the board does something about it before it is to late.
Another pointless announcement by Robert’s and Co. simply because he had to under Rule 4.9 of the AQSE Growth Market Apex Rulebook as regards Mr. Nikunj Kantilal Patel's appointment.
Why would Mr Patel purchase at 36p if he wanted to buy he would simply get his wife to purchase on the market at 7p.
The announcement I want to hear is the third party testing been done yet and what was the outcome along with when the FDA is going to be submitted with a time line.
The next big announcement I would like to hear is from the BOD’s is that they have got rid of Robert’s and appointed a CEO with experience running a listed ltd company rather than this chump that treats shareholders like mushrooms kept in the dark and fed Sh##. He is as much use as an ashtray on a motorbike.
Messi1966 the equal buys to sells shows that the Market Makers are at their work again manipulating the price of the stock for their own gain. Aquis needs to do something about this as what is happening is a joke.
Here we go again equal buys to sells yet the stock is in red and share price hits the 6p mark for the first time and still no announcements from Robert’s.
I have definitely been critical of the Truspine management team particularly the CEO Ian Robert’s the last announcement still doesn’t tell us if these independent tests have been done and when they are officially submitting to the FDA . Hopefully IR will get something out this week to tell us.
It will also be very interesting to see if the share price starts to rise on the back of the recent buys. We need answers from Aquis why the share continually goes down on sells but has little effect on buys, again MM manipulation. The annoying thing is they do not seem to be doing anything to counteract what the MM’s are doing to the share price. Hopefully Mr Robert’s comes out of the traps all guns firing after his bank holiday weekend and cheers us up with the announcement that the independent testing went great and they have submitted for FDA clearance- PLEASE let this happen so we can get the show on the road .
I totally agree Messi1966 Hallelujah Robert’s our CEO in the words of Simple Minds- is “Alive & Kicking” it is just a pity the announcement he put out although positive is nothing new. Surely we are waiting to hear what happened in the test performed by Independent surgeons and not old tests by surgeons with ties to Truspine??? Has there been a problem with that test that he is not telling us about ?????
For the love of God Robert’s tell us what is happening did the independent test take place yet and if it did what were the results? When is the FDA submission going to happen rather than posting past events that have little relevance to where we are now as the share price continues to fall.
Messi196 if your down £15k I probably have the equivalent holding or slightly more and totally agree with you. I sound like a broken record but looking at the BOD of directors they seem to have little involvement. This is down to Ian Roberts the so called CEO. This man continues to fail at putting out news/ informing shareholders what the hell is going on and the share price begins to fall now at bid of 6.9p !!!!!! Alice777 the share price is not stagnating it is free falling and what is Robert’s & Co doing absolutely nothing apart from fixing his website after 9 months. This man needs to go and a replacement found immediately he is doing nothing to help the share price or give shareholders any confidence what so ever by keeping them informed on anything. My prediction is that the share price will go to 4-5p at this rate.
Thanks for sharing your post with us Alice777. This is a shocking development. I have no doubt that you are telling us the true facts. It needs to be investigated immediately as this sheds a very poor light on the Aquis exchange.
I have invested a sizeable amount of money in Truspine to now find out that the share price is being manipulated by the MM which sickens me to the pit of my stomach. It just did not make sense why the price of the share was falling but it now it all makes sense.
Again what is the CEO Ian Robert’s doing about this??? The share price is now down nearly 80% from the IPO price of 0.35p. Robert’s has made no announcements and clearly isn’t being very proactive in protecting his shareholders interests.
In light of this information Alice777 It would be prudent to report your findings to the FCA plus contact Aquis tel- 020 3597 6321 to put in a complaint with all your evidence on the buy you made of 13125 shares that was listed as a sell on the Aquis trades, these Market Makers need to be stopped as quickly as possible.
It is amazing that we still have not heard anything from Robert’s let alone some news on their website/press on what is currently happening with the company.
The last statement indicated that they had the final part of the testing with third party surgeons prior to formally seeking FDA approval. It would be nice as an investor to be kept in the loop if this has happened & when FDA approval is likely to be granted!!! good old Ian Robert’s strikes again.
The man is obviously in his first CEO position and is clearly out off his depth. He should seek some form of help before he loses the share holders confidence completely.
I do believe if they get the FDA approval they will manufacture the product and get it used by surgeons first. I could not see a big company come in for a take over if it hasn’t been proven and tested in patients, definitely if this happens it will be one that the big American medical devise companies will be fighting over .
Mr Robert’s if you bother reading this can you please do something to give investors some news on what is going on and do something to get the share price moving back to the IPO level.
Glengarth I would slightly disagree on the point that TSP has great people in it possibly you are referring to investors rather management. I look at the IPO launch and the so called CEO Ian Robert’s giving a big speech on what was happening and how they are going to take on the world- Where is Ian “the ghost “Robert’s now??? He seems to be doing absolutely nothing along with the joke of a PR company they employ to deliver results or even keep investors informed. This is starting to become a serious issue in that they need to act in some form to keep investors informed.
The fact that Robert’s hasn’t even come out recently with some form of company statement is very worrying!!!
The last announcement was that they have to do a final lab test with third party surgeons before they submit to the FDA - Has this happened and what next please tells us Mr “Ghost “Robert’s????? Has this happened and is it the case that the results were not positive hence the further delay????
Once submitted it will take a further 90 days before they get approval to start actually selling this product.
The investors in TSP are basically in my opinion being treated like Mushrooms by Mr Robert’s the so called CEO kept in the dark and fed Sh#t.
In such a small company you would have thought this man would have been all over this and working to make things happen it looks from the outside he is probably furloughed on the golf course not giving a dam about what is happening.
There needs to be a vote of no confidence in this man and have him removed.
I total understand your frustration if you are an investor with Primorus Investments PLC and it has taken so long to get to this stage. I am struggling to see why the company said it was getting FDA approval back in 2017 and it still has not got it, was it a case of not enough funds?? They may pull there finger it out and make sure this product is launched this year . The CEO in my opinion is not doing a very good job in investor relations and would agree with Messi post that the PR company is absolutely useless. The share price should never have slid the way it has. It is time for these people to start making things happen.
Payinattn I totally respect your opinion. I am finding it difficult to get my head around, on the surface nothing has changed for this company since float apart from a delay in FDA approval due to the pandemic. The company has had recent positive lab tests with a view to submit to the FDA & launching the first product this year. The only negative was not getting the promised £250k from Evrensal capital partners but on the flip side they have since raised more money from other investors all be it at a lower price. The positive point is that they appear to have enough capital to finish the FDA and launch this year which is a massive boost for this small company. It also looks like they will succeed in legal action against Evrensal for breach of contract.
All in all the share price is massively undervalued given that it is all going in the same direction from the ipo at .33p . I personally was delighted to invest at the current price given that there is no reason for it to be trading at this apart from sells that have driven the price down.
Please Payinattn give me your thoughts am I missing something here?? Also have you invested in this stock or simply sidelining.
That was to you Payattn
I don’t know how you can say that the MM is NOT a company called Oberon Investment that increased its holding to over 4% which made them listed as major share holders. I have invested in this company because if the FDA approval comes through it has the potential to be a serious proposition. I really look forward to hearing your take on it.
Heard good news from my broker that some investment company bought more stock to take them over the 4% mark must be news coming ??
That is a great article. I am definitely thinking of buying this share. If the FDA approval comes in the shares should go up massively, surely the big American medical device companies will swoop in and buy this.