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Market: AIM
Sector: Chemicals
EPIC: TYR
Latest Price: 3.25p  (-7.14% Descending)
52-week High: 38.00p
52-week Low: 3.25p
Market Cap: 3.12M
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TyraTech Inc.
www.tyratech.com

TyraTech Nature's Technology effectively controls insects and parasites while providing a new level of safety for people, animals and the environment. TyraTech's patented scientific process targets receptors active only in invertebrates, not in humans or animals. TyraTech leverages this scientific platform to develop natural products that are as effective as traditional chemical options.

Full TyraTech Inc. profile here
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TyraTech hopes talks with Terminix will strengthen its position

11th Jan 2012, 8:01 am by Giles Gwinnett These talks will strengthen the natural pesticides specialist's position in the market place, it said in a trading statement this morning

TyraTech (LON:TYR) said today it was in talks to re-negotiate its seven year contract with Terminix - its main partner in the North American insect control market.

These talks will strengthen the natural pesticides specialist's position in the market place, it said in a trading statement this morning.
 
It comes after Terminix recently told the firm it was suspending distribution of TyraTech's SafeShield product to customers - not for performance reasons, it said.

Terminix has informed that it is also working down inventory levels of the firm's other products before recommencing orders. TyraTech believes the US firm is not meeting its contractual obligations under the current agreement and has informed Terminix accordingly.

As a result, Tyra Tech said it now estimates total revenues for the year to December 31 to be around US$7 million and its year-end cash position to be US$0.8 million.

However, it continues to expect pre-tax losses in line with market expectations -  at around US$2.8 million. It expects these events to impact 2012 revenue and operating results and is seeking greater clarity from Terminix about the likely demand for future orders.

The firm added that as a result of the demand shift from Terminix, it will require additional funding to capitalise the firm fully to continue developing the line of products currently in its pipeline whilst continuing re-negotiations of the current contract with Terminix.

In the last 12 months, TyraTech has continued to develop its pipeline of products across three key areas - insect control, human health and animal health.

This pipeline now includes eighteen products at various stages of development, with several entering the registration process shortly.

The firm expects that several will begin generating revenue this year, subject to it being able to raise adequate funding.

"These additional products will allow the company to diversify its product offering and customer base, reducing its dependence on Terminix. This strategy has resulted in the availability of new products for the human personal care and animal health markets in particular," said the company.

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