Bumskins and Horsefly i get your point and clearly many agree with you.
The message i am getting from management is the quantities of Vitrogro manufactured as part of the CE Marking process were greater than TISs internal sales projections for the first 16 months of sales. At that point they realised they could get another two months of sales out of the already manufactured product by timing the CE Marking with the date Quintiles and TIS would be ready to start selling. They have always said they would be ready to start selling in June but really i would think management are less concerned about a small delay than they are about wasting stock.
So i see the delay in CE Marking application as unavoidable or at the very least, the lesser of two evils. Good decision. No doubt they looked at moving internal business activities forward to start selling earlier (ie May) but some of those activities would have had pretty fixed timelines and so perhaps it wasn't possible (training staff, printing promo material, etc).
As such they needed to delay the CE Marking at the risk of delaying first sales.
If anyone here can tell me what else management could have done go ahead...
The only thing i think management could have done differently is inform the market that sales will start when we are good and ready and not before. That might be June, July or August... or whenever we get CE Marking approval.
TIS Price at posting:
45.0¢ Sentiment: Buy Disclosure: Held
