Am I missing something?30 Aug 2023 16:33
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.