Sorensons have their paws ALL OVER THIS
https://opencorporates.com/companies/nz/4585779
Custodian nominees is also a favourite moniker used by them.
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Sorensons have their paws ALL OVER THIS
https://opencorporates.com/companies/nz/4585779
Custodian nominees is also a favourite moniker used by them.
PEB bulls, can you let us know how this compares to CxBladder and inform us on this?
Quick Synopsis
Product is not as good/ accurate as current cervical screening methods (pap smear etc). The business is based on its cost effectiveness and is targeting developing countries where total Health Care spend does not warrant having full cervical screening programs as they are in the western world.
The business used to be listed in Au, was once worth about $200m (equity). GFC came through wiped them out (well thats the story they told me)
I believe it is an old hand/ owner of a debt facility wanting to reinvigirate the company and also wanted to sell down some of his stake at the same time they were rasingin new equity from NZ invetsors as the AU market was exhausted as a place to raise capital (ie everyone said no).
I actually have no idea why someone invested in the first place to warrant a compliance listing, however they got there.
The whole R&D team etc was displaced after the business went bust a few years ago. It is a business full of risk, in no way comparable with PEB except for possibly the industry.
This business will never operate as a going concern (in my view) due to the relative perofrmance of the technology vs other market options. Therefore would be very unlikely to invest based on that principle.
Also unsure how much developing countries would be willing to invest in cervical screening programs, cant imagine its top of the priority list anyway.
Lists on Alt market today...Short Name: TruScreen
Registered Office: Suite 107, The Geyser Building, 100 Parnell Road, Parnell,
Auckland City
Website: www.truscreen.com
Telephone Number: 021 865 704
Financial Year End: 31 March
Nature of Business: Manufacturer and owner of all rights in the TruScreen
Cervical Cancer Screening System. The system comprises a medical device and
process designed to detect the presence in real time of cancerous and
pre-cancerous tissue on the cervix.
Directors: Christopher Horn, Robert Hunter, Sean Joyce and Tim Preston
Details of Issue: Compliance listing and quotation of all the ordinary shares
of TruScreen Limited. There will be no new shares issued as part of the
compliance listing.
Quoted Securities at Completion of Offer: 144,446,666 ordinary shares
NZAX Sponsor: Sean Joyce - Corporate Counsel
Auditors: BDO Auckland
Solicitors: Sean Joyce - Corporate Counsel
Up 60% in early trading
currently up 50% on reasonable trading (over $100k) Edit: Low turn over - 100k shares being $15k
Someones going to get hurt!
Suggest others others read from page 45 onwards of prospectus.
Over $86M cumulative losses.
Recent cap raise at 10 cents with Sorenson in large.
We all know where the SP hike early on has come from. Very reminiscent of Snakk!
Play with fire...
$7.6M of their $11.6M "assets" are intangibles?
How much goodwill does Sorehead give away these days?!?!