Cromagnon, instead just to criticise, we would be more supportive in providing current management with the proposals and tools to win in our mission to bring VitroGro® to the market.
We all know that there are difficulties, and we all know that many times these processes are fundamental to learn and build a better team (I prefer to not be the case, but the facts have taken us here).
The Board has decided to look for a new CEO. It could be a fantastic boost, as a good and capable name could drive foreign interests to Tissue Therapies.
We have some hard issues such as the Regulatory approval process, but on the other side we have a good product that works.
If you look at the US market, it is full of biotech companies that even with a product that has not been tested (Phase 1 and 2 trials), they are valued at least USD 150,000,000-300,000,000.
In comparison it would be the A$1 valuation (300,000,000 shares at A$1) that we have been looking to reach from such a long time.
True is that in 4-5 years the number of shares issued by the management have been doubled. We have got a 50% dilution.
The financing process in this way has to be stopped. It is much more convenient to involve a partner on a future earning sharing contract and that support and finance the US clinical trials.
We have an opportunity, and we are at the right moment to position properly the company in a way to be satisfactory for the shareholders.
How would react the market with a CEO onboard that previously was a Johnson's & Johnson's Director?
How would react the market if Sanofi would like to finance VitroGro® US clinical trial process?
PARTNERSHIP is a must. We have to build a Bridge. Tissue must be a GLOBAL company and need to eradicate its Australian roots. There is VALUE, but the market does not yet see it?
Why?
COMUNICATION on a GLOBAL perspective.
TIS Price at posting:
10.0¢ Sentiment: Hold Disclosure: Held