Titan Medical Inc (TMDIF)

[pointofreturn]

I had a phenomenal conversation with Dr. Fowler and John today, and was able to get a lot of questions that were submitted by other users.

Here is the list:

Re: SPORT Unit
#1. Approximately how many additional instruments are being developed? And can you comment on whether a stapler is one of them?

#2. Could you expand on the additional prototypes? Will they be sequential or separate systems used at different sites? Please also discuss the possibly of using 2 SPORT units at the same time to do procedures.

Re: Ximedica and Manufacturing
#3. So anyone notice in the corporate presentation that Ximedica is going to manufacture SPORT (see last line of p.9)?

http://www.titanmedicalinc.com/investor-relations/corporate-presentation/

“Titan has contracted Ximedica to bring the SPORT™ Surgical System to market, including all technical, regulatory and manufacturing efforts”

Re: Development?
#4. I've been really curious about that meeting that I heard Titan had with IRCAD. What role will they be playing in the development, if any? Would they possibly be a pilot site?

Re: Simulation & Training
#5. I have a few questions on simulation and training, let’s start with the generic one first. Can you give me a rundown of everything you’ve been working on regarding simulation and training?

#6. 3D Simulation will undoubtedly play a large part in training for SPORT. Is Titan working with any of the big players (Mimic, Symbionix) who already have fully fleshed out training systems, or are they still planning on using their 3D engineering model of SPORT as a one-off simulator?

#7. If simulation comes into play and the SPORT system design is already pretty close to frozen, is there anything stopping them from seeding simulation trainers out to selected programs prior to the actual SPORT device being ready to get the surgeons trained on the system? Are there any plans to introduce SPORT to residency programs sooner than later?

Re: Procedural Functionality
#8. Will every SPORT be able to perform all of the indicated surgeries, or will the systems be sold as semi-specialized systems? Will I be able to have one surgeon do a hysterectomy with it in the morning and another do a nephrectomy in the afternoon?

Re: International Markets & Sales
#9. The CE and FDA approvals are clearly pushed back, but will this stop them from selling in places like India where they don't need that? Can we possibly expect a revenue stream sooner than 24 months out if this is the case?

Re: Video from Dallas of the Lap Chloe and Nephrectomy
#10. Video was posted just prior to the interview, so skipped this.

Re: Capital Markets
#11. Lastly, I wanted to follow-up after our discussion the other day regarding capital markets and share price. Clearly the market is conflicted on where to value Titan, as it’s been extremely volatile and has lost ~$75 million in market cap since the announcement to delay. Many shareholders are concerned about the company’s cash position given the expanded timeline, and the now out of the money warrants. Most agree with the decision to delay, and appreciate that a lot of thought went into it. However, they’re concerned about the time-value (and actual value) of their investment given the lack of press releases due to the sensitivity of the technology. So, can shareholders expect to keep getting tid-bits like the new video over the coming months, even if it’s not formally announced?

All of those questions were addressed, and will be discussed in the upcoming article.

Dr. Fowler is an extremely knowledgeable individual and was able to provide a ton of insight into all of those questions. I'm very pleased to have him on team Titan.

John was also the most emphatic about capital markets that I've heard to date. I'll have some direct quotes maybe tomorrow, but it's all good. In fact, I was almost shocked at how positive he was towards wanting to do everything he can to keep shareholders up to date. I genuinely feel that management has been listening to everyone who has been calling in/e-mailing lately. So kudos to our iHub board and its members. Well done!