In this post we examine his role with Biosign Technologies (BIO.V $.04), a highly promotional TSX Venture Company that ended in disaster for shareholders.
2009 – 2011 Biosign Technologies
The travails of Biosign are told well elsewhere. Needless to say it was not a pretty story. The Company issued dozens of press releases which are included at the end of this post announcing a myriad of international deals over a period of nearly two years (coinciding with Tassiopoulos’ employment) that amounted to nothing but massive losses for shareholders that bought into the hype.
Tassiopoulos’ “version” of this history (as described on his LinkedIn page) differs materially from reality in several ways:
- Tassiopoulos was not only the COO of Biosign, he became its CEO in January 2011 a month prior to Biosign’s crash below $1/sh.
- He did not resign after he “developed his own heart condition” as stated in this interview with YourMississaugaBiz.com (a publication that is no longer in business), http://www.sphere3d.com/assets/docs/Cloudsoftwarecompanyingrowth.pdf.
- In fact he was fired, as stated clearly in this April 2011 Biosign press release http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ax2TOFJY8NIc. Quoted in its entirety:
“TORONTO, April 19 /CNW/ – During a scheduled meeting yesterday, the board of directors of Biosign Technologies (TSXV: BIO) has accepted the resignation of Alfonse D’Amato as director of the company, relieved Peter Tassiopoulos of his duties as CEO, and resolved to start searching for a new chief executive.
Radu Leca, Biosign’s President, has been named CEO on an interim basis.”
Biosign, despite trading at a peak near $3/sh in February 2011, now trades for pennies. Is it possible that Tassiopoulos did everything right and was forced out by an incompetent board? Sure, you can believe that if you want. But if Tassiopoulos himself isn’t willing to tell current Sphere 3D shareholders (and journalists) the real story of what happened at Biosign, how likely does that really sound?
Since 1995 Peter Tassiopoulos has been involved with stock promoters, stock promotions, a bankrupt electronics manufacturer, a failed shell company, a bankrupt health care technology company, and a stock promotion and failed technology company. He has misrepresented his past on several occasions and repeatedly made big promises while failing to deliver actual results. Take a read through the Biosign press releases issued while he was with the Company. Now compare their content and tone to those released by Sphere 3D over the last 18 months.
Maybe Sphere 3D is the venture that finally works for Tassiopoulos. We doubt it.
Biosign press releases
Below are links to the majority of Biosign Technology press releases issued during Peter Tassiopoulos’ employment with the company. Occasional comments, excerpts, or summaries are included.