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Placing for Fat Cat salaries dressed up as investment funds
The Captain, speaking on behalf of Truspine, continues to make misrepresentations to investors concerning the IP. You would be much better off resolving the IP situation and offering more transparency about the FDA submission. Precisely what date did you make the submission, what date did the FDA acknowledge receipt and request outstanding data? What data is outstanding and when will Truspine submit the necessary to the FDA to ensure an effective application?
The fraudulent filing by McCarter & English, based on incomplete information provided to the Boston Law Firm... Poor them being compromised in this way
@Bethian, yes I do agree with what you've said in this thread but I do not agree with all your views.
Enticing new private investors on to the share register with a stream of misrepresentions, falsehoods, ommissions and empty promises is a crime in my eyes. The new NEDs are now as culpable as the rest.
Bethian, for someone who has only been a member since 19 Feb 2024 and only posts about Truspine, you have a lot of opinions...
£100k is a cheap smoke screen as you try and change the narrative
On the cusp of FDA... LMAO
The new directors need to have a proper look under the bonnet and not just since Listing.
Nik and Tim, utterly useless NEDs need to be kissed goodbye and not remunerated for doing nothing. Ditto all the Advisors... including the utterly useless auditors who must have been receiving brown envelopes. Ditto the registrars who can't seem to be able to count.
Dear Victoria,
Wearing your corporate governance hat, would you kindly ensure the number of shares voted FOR and AGAINST todays resolution are provided to shareholders. It is a simple matter of transparency that the BoD have failed to deliver.
If anyone has bothered to vote against the adoption of the 2022 accounts and auditors report, it will be very damning.
Newly appointed NEDs, including those with corporate governance experience, together with the Chair, only need to see the slightest dissention among shareholders to conduct a forensic audit of the accounts and replace the auditors with independents.
This new lip service to corporate governance should also want to see bog standard resolutions put to shareholders as I have said before.
Of course shareholders should be able to attend online.
Hopefully this will be facilitated for the 2023 AGM and those GMs required to approve the latest shenanigans.
What a joke!
£470k won't even settle 50% of their reported liabilities, let alone access the data they need for the FDA.
Meanwhile, dilution, dilution, dilution making it even easier to stuff the ballot box.
I don't know who they think they are kidding.
And who on earth they expect to turn up at the AGM?
I can't see anyone bothering to attend the AGM after what we heard happened last year.
It's a pointless tick box exercise to approve the accounts of an insolvent company, despite the auditors not realising. Said accounts are nearly two years out of date. Nothing has improved and the auditors still signed off the y/e 2023 accounts based on the same assumptions, knowing none of the representations made by the company ever came to fruition.
There is no resolution to reappoint the auditors. Nor re-elect any directors. Not even approve the three new NEDs.
Questions will not be answered and shareholders will be rewarded for taking the trouble to attend by being abused by the CEO, demonstrating his utter contempt.
Aquis should see it as the hollow exercise it is and take note if there is even one vote against adopting the accounts. That will tell the Regulator everything they need to know.
The voice of Barry Sanders
These new directors haven't done their due diligence very well and will likely be treated like all NEDs that have gone before them.
It seems we now have 5 pointless NEDs, as the 2 executive directors who will continue to do whatever they want, however they want, with a complicit Debenture holder.
Maybe the Requisition is invalid as they have forgotten to call for the resignation of Norman Lott?
This requisition lacks credibility given that it does not seek the removal of Normal Lott FCO who has been responsible for the finances since early doors.
ORDINARY RESOLUTION
1 THAT the financial statements of the Company for the financial year ended 29 March
2022 together with the reports of the Directors and the reports of the auditors thereon
are hereby received and adopted
That's it. Taking the proverbial.
One resolution. Not even one to reappoint the auditors or re-elect any directors!
This is the lack of integrity towards shareholders that contributed to the Aquis Disciplinary Notice and record £215,000 fine on 16 August 2023.
Excellent, a must see after reports of the last GM.
They should arrange a link for those who cannot make it. There's no excuse it's too cheap to convene.
"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!
TBH, no I don't beleive MA lent the Company any money. Not sure about AS
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!!!