well, page-6

I may well be wrong but it's the first time that I've seen revenue projections in a TIS presentation.

Revenue projections are:

2012 - $200,000
2013 - $6 M
2014 - $28 M
2015 - $64 M
2016 - $127 M
2017 - $224 M
2018 - $295 M

The projected cost of the USA trial for venous ulcers will be over 18 months and is estimated to cost $8 million, so it may still be possible to fund the trial from cash flow given that 2014 revenue is projected to be $28 million.

Even though the presentation did indicate that CE Mark is anticipated by the end of 2012, it did also say under "Major Achievements" - "CE Mark expected shortly". I'm pinning my hopes on CE Mark arriving in TIS's inbox "soonish" rather than later!

Regards,

Goggo