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UPDATED Aquis Lobster-Potted TruSpine: Where Is The Funding, Then?

The comedy continues on the Aquis lobster-pot, where TruSpine (TSP) listed in August 2020 promising to have an FDA-application submitted by year-end for its spinal stabilisation system, which is still outstanding some two and a half years on. Worse still, it needs funding pdq: the fat lady is hovering in the wings right now.

TruSpine – The Aquis Comedy Shit-Show Heads For Disaster

I have been keeping an eye on Aquis lobster-pot listed Truspine (TSP) for almost two years, ever since it announced on Christmas Eve 2020 that its application for FDA clearance for its Cervi-Lok product would not be in by the end of the year, as promised at its IPO the previous August. The company has been remarkably silent since announcing that its financial position remained weak on 31st October this year. Hmm…….

TruSpine Updates On Whereabouts Of Mr Godot (...or not)

He was coming by the end of 2020. Then he was going to appear during Q1 2021. Then Q2 2021. Then by the end of the year. And then by the close of Q2 2022 – ie yesterday…….and surprise, surprise, he hasn’t come. But he is most certainly coming tomorrow. Honest, guv’.


Aquis Lobster-Potted TruSpine: Well There’s A Thing, Says Mystic Meg!

On Monday I asked When Will The Money Run Out? at Aquis lobster-potted TruSpine (TSP) and yesterday we got the answer, in the form of a placing, subscription and a debt-for-equity exchange raising £700,000 (before expenses) of new money and converting a stack of outstanding directors fees and third party creditors. Eat your heart out, Mystic Meg! Oh, and er…..oopsie…..the company “forgot” to mention that it had issued 724,902 shares to third party creditors back in November, failing to issue an RNS or apply for those shares to commence trading. Move along please, nothing to see here!


Aquis Lobster-Potted TruSpine: When Will The Money Run Out?

Aquis-listed TruSpine (TSP) is yet another of the disastrous recent IPOs to have sullied the London markets. Having joined the lobster-pot in August 2020 at 36p, the shares have utterly collapsed in the wake of an IPO subscription doing a runner and multiple delays to the approval of its Cervi-lok spinal stabilisation device, which was supposed to have seen FDA submissions completed in Q4 2020 and we were promised commercial sales in 2021. Here we are at the end of May 2022 and the FDA has not yet been satisfied, there is no sign of any sales and the shares are now just 4.3p in the middle. Ouch! But has the company run out of cash?


Aquis Lobster-Potted Truspine – Dressing up bad news as good as Godot STILL Doesn't Arrive

Noting I would keep my watchful eye on Aquis lobster-potted Truspine (TSP) in the wake of a Christmas 2020 update that its FDA-approval paperwork was three months behind more-or-less on deadline day, I see that the company has announced that it has applied for its Cervi-LOK spinal product to be designated as a “Breakthough Device Technology”. Whatever……here we are in November and the FDA 510k application for this device, originally due last Christmas, has still not been filed. But it gets worse……

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