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Thread: Truscreen

  1. #1
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    Default Truscreen

    Well well well, Mr Joyce and Sorehead are up to it again! The PEB bulls will love this one as well!

    Heres is the announcement today:

    https://nzx.com/regulators/NZXR/announcements/257283

    Shareholders include Theresa Gattung, ex CEO of Telecom, Chris Francis of AugustaAlso Phil Norman (ex Chairman of Xero), Peter Herdson (bigwig of Colliers NZ).*

    John Andrew Sorensen controls a further 7.39% through IDL Trustees, a further 7.39% through CBT Trustees, *and a Michael Sorensen has just under 0.5% as well. The Masfens are there in Albert Nominees.

    Oh joy, let me get my money ready for November 12!

    BE VERY CAREFUL OUT THERE ST MEMBERS

  2. #2
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    Default

    Well, those aforementioned seem to know how to raise funds. 144,446,666 ordinary shares!

  3. #3
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    20 year old Aussie thing that didn't fly and is no better than the incumbent PAP test and cytology?
    Why would this interest PEB bulls?

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    Quote Originally Posted by psychic View Post
    20 year old Aussie thing that didn't fly and is no better than the incumbent PAP test and cytology?
    Why would this interest PEB bulls?
    Just thought they'd like a new challenge. This is one place I'll support them too!

    Now where's Balance?

  5. #5
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    If only Moosie_900 was here to discuss Sorehead and his merry band of misfits, like on the SNK thread.


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    Quote Originally Posted by robbo24 View Post
    If only Moosie was here to discuss Sorehead and his merry band of misfits, like on the SNK thread.

    His antlers are still visible so he cant be far away

  7. #7
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    Quote Originally Posted by couta1 View Post
    His antlers are still visible so he cant be far away
    I can also smell moose excrement.

  8. #8
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    I thought there were no new NZAX lisings now the nxt has been announced. NZX can smell the listing fees.

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    So many red flags here. Testing in Poland and China? Previously failed after J&J backed out? Not wanting FDA approval "because it will cost millions"? Four staff in Sydney? No sales to Western countries? Good lord!!!

    http://www.stuff.co.nz/business/indu...NZAX-this-week

  11. #11
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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.

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    PEB bulls, can you let us know how this compares to CxBladder and inform us on this?

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    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.

  14. #14
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    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

  15. #15
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    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!
    Last edited by Harvey Specter; 12-11-2014 at 11:27 AM. Reason: Spotted my own mistake.

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