George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Did a 19 year journalist student write this article. So much left out and questions that should have been asked of Straus.
1. What about the mismanagement and lies of Martin Armstrong? Why isnt he under investigation for signing off on fictious financial statements?
2. What about Ian Roberts? Why is he still in the picture and what value does he add?
3. Provide documents showing this alleged communication and submission with the FDA.
4. How do you plan to make vendors whole and are their any additional liens in place for non-payment?
5. What did you get for paying FB consulting fees in return for where the company is today? How much money did FB, MU, ML and others make on EuroSI with money lent by TSP and what did TSP get in return for lending to that failed entity as well as other shell entities that were created by the crime family?
6. How can a accounting firm sign off on financial statements as a ongoing concern when the IP is contested and there is no proof of settlement with all inventors?
7. Where is TSP on the remaining payment due to acquis for fines of misinformation?
Not only that but if the audited financial statement each year is incorrect and the auditors are making statements on fraudulent documents showing ownership or the auditors are crooks too. As such, without ownership, then the intangible assets should be written off to show the true value of the company which is zero. I will never invest in another UK company if this is the kind of stuff that is allowed to go on without investigation. None of these clowns have Sir in front of their names so its not like they are protected by a "higher" authority.
Lets bring back FB too. He added so much value but at least we knew how much of our money he was putting in his pocket. I am sure he has plenty more "solo inventions" that he can contribute for 10 more years of money laundering.
I am learning so much about UK markets with this company. So a founder that put $0 into a company that "assigns" his IP that is going to change the world is issued 20 million unrestricted shares of stock, gets paid monthly consulting fees, leads and losses a coup to overcome company because he doesnt know how to count how many shares the crooks control, takes "asssigned" IP back which leaves shareholders with zero assets after he is fired by TSP, etc. So now he is allowed to sell shares at above market prices to insiders? In the US there was a companies called Enron, HealthSouth, MCI, etc. that did this and jail time was sold.
In the UK it appears to be just another day in Gatwick. All of these clowns should get the William Wallace treatment.
i am trying to figure out which of the cast of liars you and bunsenburner are from this company. could you show us a picture of your refrigerator and perhaps that would help shed some light.
you two are such amatuers and if you are not associated with this **** show, can you provide a list of medical startups that you both have invested in that have the following characteristics:
1. no proper ownership of ip
2. no documentation backing fda process claims
3. questionable accounting practices with overinflated intangible assets that will have to be written off
4. a company that is bankrupt with payables that havent paid in over 3 years
5. a device that is over 5 years old and made public to be duplicated by other players if the disruption to the industry was truly real as they have claimed
6. a device company without a medical advisory board
7. a medical device company being developed in a country with socialize medicine which provides zero market potential except internationally
8. a management team with zero years medical device team
i have plenty more but if you two can show me proof of another successful device company that you have invested in like this then maybe i can believe your alchemy. otherwise go back cooking books, double dealing and lying with the rest of the band of thieves associated with this crap.
cheers
LOL....this circus continues. These guys are idiots. Since two directors gave up warrants, they are getting paid something to do it, I am sure there is a huge fee to be paid to whatever fundraiser did this, take into account their monthly cash burn rate and you still have a payables outstanding that make this company not even close to a going concern.
No comments on FDA or IP either. I guess someone is getting fees paid to up to date to "get this back on track".
@CaptainArmage - If you are referring to the FDA submission 3 years ago that keeps being published in press releases as if it was recent, you are correct. This company hasn't done squat except release carefully worded press releases to make it sound like there is activity. Unpaid invoices to vendors well over 2 years old and a IP in dispute with a fee mongering inventor who is no longer with the company (LOL on that too) puts this in the dont waste my time bucket of any government agency such as the FDA if any submission actually occurred. This technology is now outdated and has been floated around for so long that the major companies in this industry which real money and real business people are developing a product to put this in the horse and buggy category.
This thing continues to add humor to my life. What real corporate/banking compliance expert would ever accept a directorship position on this board. Then, the other one has zero spinal or ortho background so this is a puppet too. Surely, a legitimate FCA person and a start-up pharma person would at least ask where do you stand on the IP and show proof of ownership.
I like how the press release admits they have accepted the penalties and fines from Acquis but they still gave no indication of FDA status or IP.
Https://find-and-update.company-information.service.gov.uk/company/11487110
When I got angered and started looking at financials, I found the above entity because it appeared in the 2020 Annual Financial Statement as a related entity TSP loaned money to . Google is a powerful tool, if only I would have used it sooner. A lot of the same characters from both sides of the pond are in The Statement of Affairs document in that link filed July 28, 2021. From that, I think it is safe to say, there is no need to carry cash when a briefcase of new entities to become creditors work too.
I am thinking a book and movie one day. Perhaps the royalties will make us whole from it.
I wish I knew more, but I am just someone who travels back and forth to the UK and got a stock tip with a couple of my UK associates a few years ago. These interviews are insulting even to my mediocre US public education. As a result, since I am angered by the outright lies and now discovered this entertaining board, I thought I would let out some frustration to make up for money lost.
There is nothing about this craziness that makes sense now that I am objectively looking at it. Why would a US inventor go to the UK and get involved with this group. That side of this smells too and I wonder if there is a longer term relationship at play here.
Its quite obvious, I will not be conducting any stock investing seminars after this debacle. I only wish I would have look at these financials and been more attentive to this sooner. But this is really one of the better comedies in the business world to watch. Its a shame that its not bigger to get better press
Sorry to have invited myself to this chat party but I needed to vent.
Cheers back at ya
They have no money to get this to the finish line. This past 12 months they have received 350,000 in funding with 100,000 paid back which leaves 250,000. They have approximately 90,000 per month burnrate on expenses according to their interim financial statement. I thought my satire from my prior messages would state the obvious, which is this company is a joke. At the end of the day, there is a no product without clear title to it and no vendor is going to do work on it to a company in this situation that appears to not pay its bills, especially on a product that is in dispute. Let alone no one is buying a product with IP in dispute. These guys are buying time for a end game that I don't clearly understand. But their track record as previously commented in this message board sums up that this will not end well for investors.
I am still trying to figure out these guys end game. They are dead when it comes to any legitimate major equity raises because of their track record of failure and not having a deliverable product as well as unqualified management experience . If their game is trying to do a pump and dump, who would be willing to buy this dog of a stock. If it is to divert funds, their days of equity raises are over with no product.
Furthermore, if they pledged IP on loan that they now claim is not perfected when is this creditor going to file suit and bankrupt them? Also, when are the other vendors going to file for judgements against this "company"?
In closing, there is no way this company will be a ongoing concern without IP rights clearly owned by the company. Otherwise, they will be require to write down their overinflated intangible assets at the year end audit.
It appears that the walls are falling all around and days are numbered.
I have been lurking on this board for awhile but thought someone on this board could help me understand.
Just curious, how does a company like TSP, who owes hundreds of thousand pounds to vendors, is able to move forward with getting FDA approval from new vendors. If memory serves me correctly, I think it was around $500 thousand +/- pounds. Since the total raise since that was disclosed has been $150 thousand pounds with most of the money used for shareholder fights and operating expenses, there is no way this company is in good standing with vendors.
I would think a new vendor(s) would require payment upfront before doing any work. Since the company now claims they engaged a new IP Attorney, how did they pay a retainer for this? On legal costs, aren't there litigation expenses that will need to be paid and a retainer to fight for the IP that appears to be in dispute. I find it hard to believe the retainers for these types of attorneys are not cheap.
Now to move forward with the latest exciting news. If this honest and truthful company is so close to getting FDA approval, how are they going to sell product since there has been no raises to acquire inventory to sale? I would assume, that ordering this type of inventory takes longer than 90 days and I don't understand how a distributor is going to be able to sell products with zero inventory. Am I missing something.
How are they going to market the product, since there is no money to properly market the product? I hear that marketing a new medical device is not cheap and it requires money for media, trade shows, demos, prototypes for demos, marketing materials, etc. Did I miss the hiring of a marketing person for this company?
I have lots more questions and thought I would just highlight a few. Perhaps I should start a podcast and invite these gents on my show to ask all of my questions. They appear to be willing to be open and transparent.
At the end of the day, I am just curious why these questions are not being asked during interviews.