That's the thought process management has been following for 5...

That's the thought process management has been following for 5 years and guess what, it hasn't proved to be effective. That made sense when VG was going to be CE marked as a device and trials were conducted to demonstrate effectiveness, not safety.

Now TIS are looking down the barrel of processes either side of the Atlantic that look to have many overlaps. Once both EMA and FDA requirements are understood, subsequent trials should be designed to address the needs of both agencies. TIS management should be capable of managing two processes at once, much like I can walk and chew gum at the same time.

To make up for lost time and money, TIS needs to push on all the levers they can. This is going to require capital and expertise. It's going to require some hard decisions. Old holders are going to lose out. Dilution is a given.