this whole CE Mark issuance process has, apparently, become a game of delay for obtaining the longest possible shelf-life for the first batch of VitroGro
the March 27 announcement quite clearly stated:
"The CE approval process is well advanced, with all audits successfully completed."
... then went on to detail the several benefits "..to Tissue Therapies in minimising the time between approval and the start of sales.."
and this is what we are witnessing atm, imo - delay for greater pay..
in my view, the 1 June announcement should really be understood as TIS having a friendly chat with the 'Notified Body', where TIS likely offered additional information and data to enhance previously accepted material, and in so doing set the scene up to have it appear that the Notified Body requested the additional information.. easy enough to do, after all...
-- the 27 March announcement was quite clear that all audits had been "successfully completed", where Mercer was unambiguously "confident that this will result in CE Mark by the end of May 2012..", but thereafter I believe he was taken through the economics again of what additional value there was to the company, for a late June approval date...
... and so here we are.. 15 May 2012, waiting on Mercer to deliver on all his words... anymore pictures of pallets just won't cut it at this point in the game, of cat and mouse being played with shareholders...
not saying he's wrong on the stated (and projected) economic benefits from a late approval date, but cutting it this close to the wind also risks degrees of credibility if something comes out of left field... so for his sake, i hope he gets it right...
good luck
TIS Price at posting:
50.0¢ Sentiment: Buy Disclosure: Held
