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The last after hours trade was at 2.05!!!!!
BigT do you really own 50K shares? If so I would be quite vocal with management about your dilution. You should be buying shares only at offerings at least you get a warrant.
It shows that it is hard to sell a company to Wall Street that does not have a product to sell and has continually diluted the shareholders value at every turn.
Well those who bought stock over the past few weeks got screwed again as the price per share sold was $2.50 plus a warrant.
The price of the stock continues to fall on poor planning.
Max number of shares sold 8 million X 2.5 =20 million The only good news is that the warrants are priced at 3.20 and within the next year maybe the stock will reach this value.
I hope the robot can actually perform outside the lab.
Residents closing........
There are no options for this stock. And there is no short interest in this stock. Shorts can't get killed because they don't exist. The reason the stock is dropping is there is minimal interest in buyers and more sellers feeling the pain of their investment disappearing into the smoke.
Besides all of the screw ups by management involving this nasdaq roll out/RS and the PPS getting crushed is the actual viability of the robotic system in the market place.
This is marketed as a less invasive alternative but if they continue using a gel port for access it will never be less invasive.
All of you on this board who are laparoscopic surgeons,know that using a gel port for SILS surgery has fallen out of favor because of hernia formation at the access site.
Even Intuitive's larger port for its camera has a high incidence of hernia formation. I have repaired numerous hernias on patients who had robotic prostatectomy. That was accepted because it was better than open surgery.
Lets see what they show us in the next 6-12 months. Pick up your game Titan.
naw 0.0000000000000
With this stock hard to call the bottom. No confidence left in the ability of the management to handle uplisting. Should never uplist without big money buying shares on the open market.
Many on this blog said no way this stock would be back to 3 dollars well here we are 3.33 is 11 cents pre split. WOW !!!
Investors pick entry points, if you telegraph the fact that the present day investor will be diluted in a month, than they will wait on investing. None of us want to buy today when we know the value will decrease because of dilution and no news for months.
When the stock was in the 30 cent range the CEO told us that they had extended the time line 2 years and will need to raise more money and dilute.
I sold my position for that reason. I am not any smarter at investing than the those posting on this board. If you are told by the company that we are going to dilute the crap out of your holdings and not have a product for another two yrs, to me that is a no brainer to sell and come back at a later date. Today the stock is down to 11 cents pre split. That's pathetic.
Looks like my 3 dollar or pre split 10 cents will be a reality fairly soon. You have to know what you are doing when you go on the nasdaq with a company without any revenue and still raising by dilution.
Its hard to predict where a falling knife will land.
There was an article in General Surgery News this week on the front page about robotics and the growth in the general surgery market. They mentioned about ten companies with different robotic platforms. Titan did not even make the list. I still have about 1000 shares post RS. At this point my own strategy is to wait until the stock reaches around 3.00 which was 10 cents pre split before investing any more funds. The constant pushing out of the timeline and the poor uplisting support shown by management is quite disappointing. I had higher hopes that this management team understood how to uplist and support the stock. You have to have institutional buyers willing to purchase stock on the open market as well as invest in offerings.
If management cared about investors they would have encouraged new investors to buy shares in the market to help elevate the stock price prior to any dilution. But they only care about maintaining a pot of money to make sure they get paid. Notice the management does not use their own money to buy stock, just gave themselves shares and warrants.
Why would they buy stock when they continue to devalue it.
Once Mcnally started to change the timelines in February it was time to get most of your investment out for a while until some sense of stability of milestones could be maybe believed.
Of course any start up is high risk but one doesn't have to throw money away when it is obvious that the goal line is years away and dilution will continue.
When the stock goes back to 3.00 or pre split ten cents it will be time to buy in again. Since there is little news that can support the price I believe that will happen by the end of the year.
Looks like two years to FDA submission, plenty of time to buy back in.
You can not list on the nasdaq and not have a solid plan in place which includes positive news, investors lined up to support stock price and a product that is nearly ready for fda submission. Be very careful investing more money at this time.
I was not aware until recently that the robots do not stay at the centers because the company has to take them back to the manufacturer for updates due to the fact that they can not afford to swap out robots as the upgrades are completed.
That means shipping robots back and forth with delays and the surgeons at the centers have nothing to work with or show other surgeons.
I bought up to a total of 500000 shares based on information that was public and speaking with friends in ny. They were surprised by the last CC like I was. They sold like I did. They thought that the fda submission timeline would not change. It did and I took my loss and changed my outlook on my investment.
Just a point on investing why would you give away your money. This company told us all that they will dilute the crap out of your investment over the next eighteen months at the last CC. Invest wisely and still you may lose your money and invest poorly and it is guaranteed.
BigT given the fact that since the last CC there was not going to be any news to raise price past low 30 cents you should have sold your position and waited for this raise to buy at 20 cents. If you still believe in Titan. I sold almost all of my shares for that reason. I still wont buy again until I see a sport unit in person. I dont believe management is telling the whole story about the tech problems.
You have to learn from the past at some point otherwise you will lose you entire investment. I am a surgeon in this field for over twenty years and have seen plenty of small companies suck the money out of us painfully slowly.
If this stock gets back to 30 cents get out before the next raise.
You knew in the end they would double outstanding shares to 600 million once the price was not going to move after the last CC. Not counting warrants. By the time they reverse split it will be 30 to 1. That will get the pps to 3 dollars.
It is about a product that is a mirage just as you think you can touch the words FDA submission it moves further into the distance. At least as a shareholder you can sell your position, some investors are locked in for a year.
I had 500000 shares before last CC sold all but 50000 not because of the obvious dilution to come. I sold because after looking at all of the videos and given the fact that they had not even solved the docking problem with the robot after what seven years my confidence that this product would ever get to market really dropped. Like I have stated before will not invest again until I personally see sport in person and kick the tires.
The main concern for me is the delay for over a year. My reasons are the follows: Even if every goes right from now on the
earliest the company could sell a unit is 2020.
Those in the medical hospital industry know that the capital purchase budget takes at least a year and a half to ear mark money. At my hospital if Sport was available tomorrow I would have to go through at least 6 months of committee meetings just to get to put the robot on the next years budget. And than there is another approval process once on the budget based on the hospitals finances for that year.
That is why is was so important to get going this year. Healthcare is always changing with fiscal policy. I personally will hold a smaller position after the CC and re-evaluate the progress of the company before buying more. Just lost that confidence that the same would change to different.
The next good time to buy in will be after the next two raises which should be may/june this year and sept/nov later this year. There wont be enough news to support price yet, an investor should be able to get some sense if this robot will ever see OR lights. I will only buy more shares after I can see a demo of the robot at a site. The videos on line are nice but as a surgeon you know that there is a lot more to operating on a patient than a dog or pig.
Advanced energy device, suction/irrigation, stapling device. ease of placing mesh into abdomen via working port,ease of putting suture in the abdomen, retraction of surrounding structures-----These issues are essential to being able to sell your device. That is why issues that are quite simple for developing a platform where not solved after 6 years of development, makes you think will it ever happen?
I hope so.
When you go to verbs job site you realize that this company is years away from having platforms and robots that are ready for use in the OR. They are just building an engineering team. If we relied on verb for support and software titan's robot will be ready by 2025.
Verb is trying to develop software that uses AI to aid surgeons, that is real time ultrasound and tissue perfusion methods to limit injuries to vessels, ducts and ureters. Incorporating pre op imaging and real time imaging to create 3D structures in real time to guide the robot with the aid of the surgeon. Way beyond what's out there today and not where titan is going.
You are not selling to MD's. You have to be a share holder to go to meeting and it is perfectly legal to see product development.
Want to get investor confidence back instead of a conference call, have an investors meeting at one the sites in the US and show the robot off with one of the surgeons on the team and let some of the investors surgeons try it out.
There is nothing like seeing it for yourself to build confidence or if it is not what you expected you can walk away without regrets.
Now is definitely a time for this type of meeting otherwise share price will continue to slide and hurt ability to raise funds.
Before I invest another dollar, I have to personally see the robot at one of the centers and take a test drive.
Made that mistake 4 years ago.
Dome of silence
The problem with that theory is a strategic partner could buy the company now at total valuation of less than 100 million. Most of the warrants would be worthless as well as stock options. That would be cheaper than buying more stock over the next two years and still not being sure of success and owning only half of the company.
If there is a secret partner funding the company, maybe they don't want to spend any more money because they see problems with the design and want to see if the fixes funded from their 27 million actually produce a viable product before investing more.
Either way to cause of timeline delay is a robot at this time that does not have the tech to make it to market as per management.
My initial investment was that sages demo many years ago. No one to blame but myself. Try not to advise friends or family about money always ends badly. My father always said he could lose his own money as easily as you could lose his.
The share price drop is due to the fact that once the timeline is changed, the ability to get to fda submission with the present funds is Zero. They will have to raise more money with more dilution at a lower share price.
We all knew there would be more dilution but hoped it would be at a higher share price.
Whether the robot is a game changer will be determined by the market place when they finally try to sell it. We have not even seen a video of how the robot docks or how easily it is to change instruments while docked. That is not an insignificant issue when trying to sell a platform.
The price will not rise much until they actually have completed every change and completed some amount of fda data, because of the lack of reliability of the company to ever get to that point without some issue delaying things.
Just be happy that your shares are not tied up in a raise, you can sell at anytime and get some of your money back. I did.
Say to yourself at this point, would I recommend friends and family invest now. I would say no.
Agree 100 percent
A company is where you make a profit, a hobby is where you put your profit. This stock has become a hobby.
Titan should never have conference calls again. You can count on price depreciation after each call. Management needs to take classes in public relations and spin.
This price drop is due to the fact that to raise another 50 million at share price of lets say 25 cents will need to sell 200 million shares and add warrants so after dilution present value of stock at best 25 cents given some added value if company meets milestones to finally produce a finished robot.
The company needs to get more surgeons to see robot at centers especially NOW and get more positive feedback to help share price.
This year will be a wash as PPS will not move much because progress will be matched by dilution. For myself I will not add until I see a unit for myself at one of the centers. The company should definitely arrange for surgeons to see the prototypes and access for themselves whether worth investing. I should have sold my shares when the company kept delaying my visit to see a prototype. The market is not selling to a few elite robotic surgeons, it is showing the average surgeon how this product can make you better at a price that is half of Intuitive. That will get your product into hospitals and get surgeons to invest.
If management does not use unique marketing to get their product out to the people who will be buying, this company will not survive the dilution needed to get to market. The pool of money will dry up.
For those on this board who say the talk to management with Titan, get the word out, involve the surgical community early this year, it will help you avoid delays and going down the wrong roads. Go to more conferences and shows and get the robot out there!
It would be nice to see a video of how the CIT cart docks with the patient. It is important to me that a system is easy to dock and undock with no risk to the patient. They should just use a 25mm valved port to dock the CIT. You have successive dilating trocars that stretch the facia until the final size you want. This technique has been used already in the OR. Gel ports are expensive and add to the size of the incision to place them.
The frustrating aspect of this company is they have MD consultants on the team but don't use them very well.
Dude are you related to Trump
The fda submission was Q4 2018 with fda approval q1 2019 to q2 2019.
Now fda submission sometime 2019.
Wont go to 10 cents because they have money still to spend. R&D small cap stocks disappear when they run out of funding sources and I bet they can squeeze more money out of investors. Last raise was funded easily without any of us on the board being able to invest. Stock will go to high 20's and slowly get back to 35 by summer.
At 30 cents a share for new investors the timeline is not bad, the problem for myself and others on this board who have been around for 4 or more years is when you are told 6-9 months you definitely begin to want to move on when they add another 12 months to that. I am getting old.