From this report: The cash position of the Company is under constant review by the Board and the Board is considering its options to ensure that cash resources are in place through to the commencement of sales.
One of the options is, of course, (continue!!!) to pay the consultants via shares. The service provided by those consultants has never been detailed as has the method of conversion of (consultant's) invoice value into shares issued.
This method of dealing with services rendered is highly questionable IMO and indicates that TIS is in a cash-strapped position that is only going to get worse with first sales revenue now expected to be in late 1Q 2015. . Remember: the cash payment(s) due to QUT are of paramount importance - I don't think QUT will take shares for its services rendered.
TIS Price at posting:
30.0¢ Sentiment: Hold Disclosure: Held