They informed us that they have no idea who published it and they also said that everything written in it is nothing more than a big, fat lie. Yesterday, the management team said in a statement that Wednesday’s press release didn’t come out of the company headquarters. In fact, the people behind Sofinnova probably haven’t heard of TCEL at all. If a strong venture capital firm like Sofinnova Partners is ready to invest in TCEL, then why wouldn’t you be?Īs it turns out, however, Sofinnova isn’t ready to invest in TCEL. This looked like good news and investors were pretty happy about it. The money, the PR said, was supposed to help the company continue with its all-important trials. Not only that, it told us that Paris-based venture capital firm Sofinnova Partners has agreed to pour no less than $5.7 million into TCEL. Yet, the press release from Wednesday told us that there are such people. In light of all these huge issues, we’re struggling to see who would think that investing in TCEL is even a remotely good idea. If you’re patient enough to do the math, you’ll see that about 1.6 billion of the 1.7 billion shares that were issued and outstanding at the end of March saw the light of day as a conversion of debt at an average rate of as-near-as-makes-no-difference $0.0001 per share. The deeper you look, however, the uglier things get. So, only a few minutes worth of superficial research reveals quite a lot of problems.
To top it all off, the most recent figures are quite ugly: The latest financial statement they filed covers the first quarter of this year which means that the company profile is now stamped with a Limited Information sign. The multitasking means that they are having problems keeping up with TCEL‘s reporting schedule. Not surprisingly, the people who are at TCEL‘s helm are also responsible for FLRE‘s business. The corporate headquarters, for example, appears to be located in a residential house in sunny Florida and it also serves as the location of the principal offices of another OTC enterprise called Flameret, Inc.
Many of the people who decided to put their money on the line ignored some rather massive red flags surrounding the company. TCEL opened the day with a gap up and after several intraday spikes, it stopped at $0.0008 per share (about 33% in the green). In a matter of just six and a half hours, they poured as much as $382 thousand into the stock which is a truly remarkable achievement for a triple-zero ticker. It was missing the vital “Forward-looking statements” disclaimer, but apparently, that wasn’t seen as too much of a problem by the majority of people. Then, however, about half an hour before the start of Wednesday’s session, a press release came out which completely changed investors’ attitude towards TCEL. The ticker had spent quite a few months registering next to no volumes and it had been showing no signs of moving up. I’ll invest in Therapy Cells Inc (OTCMKTS: TCEL)!”. There probably weren’t many people that woke up on Wednesday and thought: “I know what I’ll do today.
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