After six years of stress and sleepless nights I have decided to sell my stock ( at a very big loss ).There are just too many negatives......
1) To my simple mind VitroGro is not a device.A gel,an ointment,an application but not a device. The FDA rejected the device classification and lists it as a biological.
2) The EMA did not like being forced by legal means to accept the device classification and is now playing hard ball.
3) I am disappointed with management.I am sure others could have done a better job.Their excuse is to blame everybody else,BSI,EMA etc.( By the way I wonder what the staff do while waiting for months for the EMA decisions.Computer games ? )
4) There could be destabilizing upheavals such as resignations or firings resulting from this fiasco.
5 ) Questions re.insider trading.(post by resourced)
6) There will surely be more capital raisings and with the sp at 10c it will not be a pretty picture. I cant imagine any financier being interested to fund the FDA trials etc.
7) The company has decided to abandon the "Scientific Opinion".This will make it much harder to sell the product without this endorsement.
8) There will have to be more trials ( unlikely for EMA but certain or FDA )
9) If VitroGro is such a good product why couln't the ceo find a partner when he went looking a couple of years ago ?
10) If VitroGro is so good I am sure other companies are developing similar compounds. Some of you may remember what happened to Relenza)
There are so many nice long term holders in TIS.
Good luck to you.
TIS Price at posting:
11.5¢ Sentiment: Sell Disclosure: Held
