TruSpine Technologies Plc: From Fines to Bitcoin, Company's Turbulent Journey Continues
TruSpine Technologies Plc, a London Gatwick-based company specialising in spinal stabilisation, has faced a tumultuous history since its 2020 listing. The company recently incurred a £215,000 penalty for delayed share announcements and has no remaining full-time staff. Its shares have been temporarily suspended due to delayed annual accounts.
The company's difficulties began in 2023 when it was fined £215,000 for delaying the disclosure of new shares. £150,000 of this penalty remains pending. Despite these setbacks, TruSpine aspires to introduce Cervi-LOK, a screw-free spinal stabilisation system.
In early 2024, the company secured emergency funding, including a £300,000 share placement and a £1.5m convertible loan note. However, the completion of its audited accounts for the year ending 29th March 2025 has been delayed, leading to a share trading suspension. The company also adopted a Bitcoin treasury policy and planned to acquire new intellectual property assets at its annual general meeting.
Geoff Miller, the incoming chairman, demonstrated confidence in the company by subscribing for more than a third of the £300,000 share placement. His investment vehicle, Axis MedTech, also acquired his £136,573 convertible loan notes for shares, raising £49,500 for the company. Despite its controversial past and current challenges, TruSpine Technologies Plc continues to strive towards its goal of innovating spinal stabilisation.
