TyraTech, Inc. Annual Report 2008
In 2008 we strived to establish new channels with resources provided to take our technology to customers in high value markets. Throughout 2009, we will continue to seek out strategic opportunities with partners with the capability to exploit the features of TyraTech Naturals technology and to give us closer access to the customer, thereby obtaining a greater share of the value chain for the benefit of our investors.
Technology: In 2008 we have focused on exploiting the TyraTech Naturals technology and our proprietary development platform as well as rapidly creating new blends and formulations to satisfy market needs. The power of this platform has been demonstrated with the development of three new TyraTech Naturals blends during 2008 which are in active development for new products during 2009. These new compounds are: a new food-safe EPAEPAEPA exempt blend which
we have incorporated into the Terminix product, a new blend for the control of fungi in bananas (currently undergoing field trials) and finally, a new blend that is effective against resistant insect pests in the banana markets.
We have established partnerships with specialist formulators to expand the efficacy of TyraTech Naturals technology for plastics and new EPAEPAEPA exempt formulations. We will continue to develop these relationships with the goal of improving the efficacy of products at
a lower cost.
Finally, following the year end, we have received our first approval from the United States Patent Office to protect TyraTech´s key technology which screens plant derived natural compounds, such as essential oils, to identify pesticide activity. The technology is incorporated into a platform that is also able to characterize the manner in which these natural compounds interact in a synergistic combination to produce highly potent and non-toxic insecticide and parasiticide products that target specific biological receptors found in invertebrates but not in humans and animals. The technology forms the basis of TyraTech´s products for the human health, animal health and pesticide markets which total more than US$32 billion in sales globally. The patent covers the use of TyraTech´s screening technology in the U.S. for a period of 20 years from April 24, 2003.
Outlook and Summary: We believe that TyraTech has reached a major inflection point for growth. In 2009 we will focus on generating revenue from existing partners and products that we have developed during 2008, which we expect to provide additional cash resources for the Company to continue executing its business plan. Furthermore, we expect to announce additional expanded commercial channels and partnerships that will leverage our development work to date and continue to better position TyraTech for higher value return.
Finally, I would like to thank our employees for their incredible effort and significant contribution to the Company´s success in 2008 which has positioned us well for 2009 and beyond.
R. Douglas Armstrong, Ph.D. / Chief Executive Officer
April 1, 2009
In 2008 we have focused on exploiting the TyraTech Naturals technology and our proprietary development platform as well as rapidly creating new blends and
formulations to satisfy market needs.
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