Thought it was time to get an update so made a call. Probably the main thing to report is that TIS executives aren't standing around playing table tennis or golf but are still working hard to bring about a resolution. I know some will ask why they don't make an announcement to tell us what they are doing. Part of the answer lies in the fact that there is nothing concrete to announce and another reason is the possibility of jeopardising sensitive negotiations.
My understanding is that negotiations are ongoing with a number of different agencies to find the best and fastest way to achieve a CE Mark. I doubt this will be resolved in weeks and is more likely to take months.
I also understand other avenues are being explored over and above the Europe situation and there may be more news in this area within a shorter timeframe.
Finally, by all accounts the current stores of product are still stable and haven't deteriorated. This is a situation which is constantly being monitored. When and if Vitrogro is distributed it will only happen if it still hasn't deteriorated. At that point it is pretty much the same as any product. If the shelf life doesn't last as long as the manufacturer says it will then the product may need to be recalled and new batches issued at the company's cost. As I understand it there is no safety issue with product failure but there is a reputational risk if it needs to be recalled. Of course, it could be the case that the shelf life is many years and this won't be an issue.
So its a situation of hurry up and wait.
As always DYOR.
Rev
TIS Price at posting:
12.9¢ Sentiment: Buy Disclosure: Held
