TS03 Inc Trust Units TSTIF

From Sedar

[dant2]

Getinge sold and installed "fewer then 10" VP4's in Q1 and consequently they will place zero orders for VP4's for the remainder on 2018. So unless something significant happens - like duo approval - there may still be Getinge inventory overhang into 2019.

If this holds true TOS has enough cash for Q2 and Q3 but will need something under 5M to get through Q4, and since there will be little Getinge revenue this will have to come from TOS VP4 sales of which we can reasonably assume GM of 100K per unit or sales totaling 50 units by end of year.

We should have the duo approval well before then and possibily a reconstituted deal with Getinge as well. But even with a Getinge deal we may still require a 5 - 10 percent dilutive financing. I guess we'll have to wait and see.

Seems Getinge may have played this out quite well. No doubt they could have sold many more VP4's with some effort, and this poor Getinge performance in Q1 has to make you wonder? Are they orchestrating investor fatigue?  AGM voting indicating poor support of management and BOD could be a signal that a low ball take out would be doable? Or perhaps they will put RR through the ringer for another year?

These are just musings but it makes sense to me and I certainly don't like being the chimp having to negotiate with an 800 pound gorilla but here we are. 510K please!

While I'm at it, given what has happened I definately would not support any option repricing under the guise of employee retention. After all as Cash has said the sales guys are salivating at the opportunities before them. Given what has unfolded here management should be making sacrifices to preserve valuable "shareholder" cash and get us through Q4 without a raise. Tough but very possible to do.

Non - exclusive distribution is complex and can be messy but it might be a better alternative if our exclusive take or pay partner fails, especially when the consequences of such failure are so severe ( and maybe, just maybe be part of the plan?)