agm notes

Hey guys/gals, back from the AGM and am rather happy with all that I heard. On top of the already released information I'll just put up some points I thought interesting, these are from my recollection only and my interpretation.

1. The Euro trials are getting ready to go, there was a delay because of the new regulatory hurdle that a complete data pack be submitted, this is a pay and take situation though, because while we had to compile this lengthy piece before the trials it is now virtually complete minus the trial data, so we plonk that in there and submission is all but done. So we lost a small amount of time but will gain it back when obtaining approval.

The clinical sites are also incentivised to put through as many patients as they can and within timeframe, so the trials should go smoothly.

2. It was said that negotiations are at the "pointy end" with potentials and this is why we have the consultant, this is common practise to help finalise negotiations/deals and helps put a timeline to do so.

S.M said that they had a short list of 6 major international companies they were in discussion/negotiation with, he understands these potentials needs during these discussions because he was at that end of the table in his previous positions/job, he knows what sort of profits they are hunting and can deliver while giving TIS great profits also.

With the negotiations it could happen in a couple of different ways. Either someone takes all (prof & retail) or it could be split. One of the potentials had said that they don't deal in the retail/OTC sector, so I guess if the healthcare sector side of it were with someone we couldn't refuse (already with major inroads) then the retail side could be split.

3. Are we going to keep the manufacturing? This comes down to the deal that is done. If a major wants to take it then the company (TIS) would make sure that we will be very well compensated for this and retrieve the margins we would have earned in the form of additional royalties etc

4. It was said that the company has started at the difficult end (hospital/ulcer setting etc) and that the retail/OTC sector could be the easier and even more lucrative sector. An example of sunburn was used, imagine a product that when you got sunburn you could apply it and in the morning when you wake up the burn has healed, not a pain reduction remedy but the actual burn is healed, such is the potential we have.

That's it from me for now, I think there's a lot on the presentations that people should soak up also. Oh and I think it was Desire who wanted to know about roadshows and broker discussions. TIS will be at:

http://www.ausbiotech2010.com.au/alsis-home

I believe there was someone from RBS Morgans there today and S.M has been in talks with European brokers also.