TRU - Truscreen

[HITMAN]

They need the money, unfortunately they couldn't afford it to fail and need a fully subscribed offer. 2 million should get them turning the corner, but this company has been saying that for a long time. I intend to subscribe...a gamble it is in these COVID-19 times. A bit more confident that a lot of their market is Asia, America is all a bit crazy atm. Vietnam looks good, China looks good, Russia starting to get some movement.

[tango]

I intend to subscribe too. I much prefer the offers where you have a guaranteed allocation and then can oversubscribe. I don't like it when it's a blanket up to $50k as I never know how much to ask for when money gets tied up for a week or two.

[HITMAN]

Is this not a great announcement.


6 May 2020
Truscreen expands in China
Highlights
• TruScreen device roll-out continues after COVID-19 restrictions lifted
• Four new hospitals added in Shanghai and Sichuan Province April 2020
• Distributor wins tender for five new hospitals to commence May 2020
• 18% increase in hospital coverage in April/May 2020
TruScreen Limited (NZX:TRU) (TruScreen or the “Company”) is pleased to advise that during April 2020 the TruScreen cervical screening device became operational in four new hospitals in the Shanghai Municipality and in Sichuan Province. These hospitals conducted around one hundred patient screening tests using TruScreen handheld real-time device during the month.
TruScreen’s China distributor, Beijing Siweixiangtai Tech Co., Ltd (SWXT) was also successful in securing an order for supplying the TruScreen cervical screening device to a further five hospitals, for delivery and installation in May 2020. This increases the number of hospitals actively using the TruScreen cervical screening device on a commercial basis from forty nine to fifty eight, an 18% increase over March 2020.
Further roll outs of the TruScreen cervical screening device are expected for the rest of the calendar year.
TruScreen CEO, Victoria Potarina comments, “China continues to be our key focus and we are pleased with the current increase of hospital coverage. The adoption by these nine new hospitals of our TruScreen cervical screening system are a testament to the efficacy of the TruScreen cervical screening device. Our distributor, SWXT continues to work on the roll out of our Truscreen cervical screening programme in China, post COVID-19. We continue to see huge potential in this market.”
This announcement has been approved by the Board.
- ENDS -

[Digs]

Absolutely, a great progress ann. Also impressed with the discussions with our new CEO and the skill sets she is bringing to the Co. laying out a very definitive path forward on the presentation videos. Well worth a watch

[GR8DAY]

Yup further encouraging news that TRUSCREEN is finally making excellent progress in China.... pleased I held onto these and will fully participate in the upcoming Share Offer to current holders.

[Digs]

Bit of interest and a lift on the market today too

[clip]

People must have forgotten there are 40million shares at 5cents arriving in accounts at the end of May..

[Chippie]

People must have forgotten there are 40million shares at 5cents arriving in accounts at the end of May..

The problem is that I expect the share purchase plan to be heavily oversubscribed. I personally planned to pick up a bunch in the share purchase but expect I will not get as many as I want, so decided to buy more on the market today.

[HITMAN]

I picked up a few yesterday at 6 cents, not sure how many to subscribe for, can’t quite get my head around the scaling, I think it will be over subscribed as well, you only need 40 people to take up the Full offer and they are complete. then again, last time they tried to raise money they only got half. A lot of shareholders are tired of the wait.

progress seems to be happening quicker then ever at the moment, especially impressed given the current COVID-19 realities. It would be great to see some sales figures updated.

The carrot being the $200 million in sales they are pushing to achieve for a 5% market share. It would be great if this became reality. Right now $20 million in sales would be a good target. Get some money in the door, instead of tapping the shareholders.

[GR8DAY]

Yes well said Hitman but happy to pick up more shares in the 5c offer plus more at 7c or less. Early days in the China rollout but no question that traction is now being made.... best time to get in at these levels and watch this thing grow. Massive global market waiting for such a device with backing from WORLD HEALTH ORGANIZATION.