With all due respect mattkid76, whilst Steven Mercer does not have control over CE Mark approval time lines he does have full control over investor expectations regarding said time lines.
It might pay to reflect on a few of his public comments in the preceding months which have built the foundation of investor's current expectations,
"We are confident...in CE Mark by the end of May 2012, well before the planned start of sales during the last week of June 2012." - 27 March 2012
The above prediction was followed by a quick about-face from the company on June 1st,
"After making recent enquiries of the Notified Body assessing the application for CE Marking of VitroGro® ECM, we have been informed that the reviewers will request additional information. Additional requests for information during the CE Mark review process are considered routine and are not surprising to us..."
Personally the biggest whoopsie in company announcements for me from Steven Mercer in recent months has been the following,
"Deferring the final CE Mark data submission is commercially logical given that this has no effect on the start of sales and yet delivers significant financial benefits to Tissue Therapies" - 27 March 2012
It is fast becoming apparent that this statement has possibly been a wild miscalculation on the part of Steven Mercer and the board which has importantly delayed the start of the first sales of Vitrogro, by how long only time will tell, a fact which is now being readily reflected in the share price.
TIS Price at posting:
45.0¢ Sentiment: LT Buy Disclosure: Held
