The following is from yesterdays announcement , note 1 :
At 31 December 2013, and based on stability analysis already undertaken which indicates a stable profile for the commercial lifetime of the product, Management has assessed that the inventory of VitroGro® ECM is not impaired and no impairment provision has been raised. Management is therefore confident that the carrying value of finished goods of VitroGro® ECM at 31 December 2013 is recoverable provided the following circumstances can be achieved: ? Regulatory resolution to allow sales of product in line with forecast sales, and ? The process under the relevant regulatory procedures allows an extension to the shelf life of the March 2012 batch at the time it is requested, and; ? The additional cost of relabeling the finished goods of VitroGro® ECM is absorbed by the available margin in the sales price.
***The Directors are of the view that the above can be achieved and therefore believe that the carrying value of finished goods of VitroGro® ECM is recoverable.***
TIS Price at posting:
28.0¢ Sentiment: None Disclosure: Held