rob, the second test was an entirely different agreement and tyrian were engaged because Bayer where happy with the performance of the first.
Jen was specific money is coming to Tyrian, and i think all the wording in announcements would suggest that to be the case. To me if it was less than a mil which is peanuts to bayer, this would have been finalised by now.
From what i can figure the company has blown over 3 mil servicing the bayer agreement. The readrite test performed well, and yes to replace the fallen number gold standard would be a big task, but this product is more about providing farmers a test that takes minutes that allows them the insight to harvest and get their wheat to market at the highest quality. They couldnt do that with fallen number because it was lab based and took days if not a week for results and costly. Because bayer did not put the effort into getting this to market, i think there is a big case for loss of forseen reasonable profits also, this could be worth additional in the range of millions
Also the factor to consider is the impact of this whole thing on tyrian and their staff, basically bringing the business to it knees through Bayers lack of performance.
The longer it goes the more I think there could be a reasonable sum attached, I really hope they have engaged some legal advice.
Maybe that is the key driver to stripping the company down, so they can do the distance to battle bayer?
All in my opinion, and still willing to buy anyones shares that arent happy for 001, like rob.
CGA Price at posting:
0.2¢ Sentiment: Buy Disclosure: Held