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Mc won't release news just to have news out there. Not a believer in fluff pieces. Only wants something significant and news worthy to Titan. Personally I can see the argument for both. I don't mind seeing mundane Titan news. Regardless, we do need some catalyst to get us to the next level. Although a nice base here at .25 isn't the worse thing.
If I was at a cocktail party I would say yes, Fletcher Henderson, but I'm not quite that refined. Toby Flenderson was a character from the T.V. show "The Office".
I'm in CA. My wife is from Nashua. Ironically enough her cousins are Boucher's living in Milford. Of course that's like Smith anywhere else. We'll be out next summer. Hope I can meet you and 66 at the pub and discuss craft beer and Titan. For the record, I'm guessing Titan is at $1.50+ by then...
You must be from Manchester...
The fact that Titan has not pulled the trigger on a new financing at these levels is VERY positive...IMO Money from warrants is allowing them a little more time and flexibility. Mc wants pps as high as possible before there next move. They will be "picking the best offer presented to them."
Don't think I would want to be short, or selling now with 2nd and 3rd site details coming soon.
GLTA
Mid November
Keep in mind we have two more sites that SPORT has just been installed, or will be shortly (within Q4). Surgeon feedback, reviews, are scheduled this quarter before year end. After the VERY positive, glowing remarks from 3 renowned surgeons at the first site (Nicholson), what are the chances the 2nd and 3rd site surgeons will have a different/critical take?? I'm guessing slim to none. I can't see Patel and company getting it that wrong.
With that said, it's nice to have some forthcoming (almost certainly) positive SPORT reviews up are sleeve. Hence, my view we end up at .50+ by year end. Sure dilutive financing could temporarily derail this, but I believe they are holding out on this until after the 2nd and 3rd site feedback/reviews. They want as much pop as they can get before going back to the well...JMHO
GLTA
Possible, but why bring Randall??
As busy as McNally is I don't think he is going to spend his time and resources heading to Europe without solid leads. He brought Randall so this was obviously about financing. Remember hargrove went to China and came back with longtai and jugu. I know it's not the best example, but there was obviously some sort of verbal commitment before heading over...which I'm hoping/assuming is the case here.
Again, I don't believe this is finance related. It just seems to be a double whammy of hard resistance at .28 and some profit taking. For those that got in at .10 - .15 that is a nice profit. I can't say I'll feel sorry for them when this is at .50+ by years end, but we all have different investing strategies.
It still might be a little messy the remainder of the week. If I was smart (questionable at times), I would take a brake and check back in next week. However, I don't have the patience and will be back checking first thing in the morning.
I wouldn't be surprised to see a good month or two go by before any financing news. THIS IS IMHO. Regardless of what happens short term here, I am a buyer under .20
GLTA
My business partner has access to a couple of there executives. He says there very careful about what they divulge, and a lot of what is discussed is public (timelines).
A couple of things:
Warrants HAVE been getting exercised recently. Not sure how much, but Titan is encouraging those to exercise. This has been helpful in that it is giving them a little more time and flexibility as far as future financing. I don't believe todays pullback is finance related (could be wrong), but not the impression I got. Just seems like big resistance at .28.
R/S will NOT happen in 2017, subsequently no Nasdaq uplist in 2017. Both slated for 2018. The only way this could change is if the PPS shot up to ridiculous levels short term. They prefer to R/S when the PPS is much higher and they have positive news, updates, etc to support the R/S. This was reiterated again about supporting the PPS after a R/S. They are VERY aware of potential pullback, and want to be prepared to support the PPS. They would much prefer to do a smaller R/S at 5/1, 10/1 instead of 30/1.
FDA/CE submission not until the end of 2018. As we know they had been in contact with the FDA a while back. It sounds like they haven't been lately, but they will begin talking again soon to make sure no surprises and get up to date on everything.
Next Quarterly meeting/update is roughly scheduled for mid-November.
Burn rate is still around 2mil a month and should remain so until end of the year. 2018 it will bump up to around 2.5-3mil a month through the year.
Partnerships are an ongoing possibility. No details, but they are always talking, entertaining, etc, etc. They consider the big boys in Medical (Medtronic, J & J, etc) as prospects for future partnerships, buyouts, etc. They really feel single port is the future and these guys know it.
The team is "highly energized" and excited right now.
Lastly, McNally and Randall were in Europe last week. Thoughts, conspiracy theories???
GLTA
I agree with you, but Mc REALLY wants off the otc and on to NASDAQ. He also really wants institutional investment. It's going to happen, I just hope we can wait it out a little longer. I also believe we get some sort of financing news in the next week or two. Hoping it's from his NY buddies he met with at Rodham.
CUIN2, are you tempted at all to dip your toes in again on Titan? If not, what concerns do you still see as an "impartial" spectator? In general, I understand we still have a ways to go, but any specifics?
Hope all is well...
Do they pull the trigger on a 15-1 RS if we start sniffing .30?? I think they address financing before any RS. Plus the timing has to be right. Right in the sense they have to have several major updates/news to support the aftermath of a R/S...per McNally
I think it's a positive sign that Titan hasn't rushed/panicked to take advantage of the recent spike as far as financing. Maybe there comfortable with there options moving forward.
Note: please ignore this if they release dilutive financing this afternoon.
Well it's clear now that other investors, doctors, etc were privy to Nicholsons announcement before the public was (not saying insider info, just the way it is).
The week before we had a nice run up on big volume with no news. Then the news comes out and then a brief spike and then it immediately settles. By the time the news was released it was already baked into the PPS.
Were still at pathetic levels, particularly after the recent developments. I've been in this since the Amadeus days and this was the most significant news I've seen with Titan. Sadly, if we were TRXC we would be at .50+ on the news, but were talking Titan medical here. Maybe some are still a little gun shy with inevitable financing looming. If we can get another surprise with say a creative financing announcement involving limited dilution that would be huge.
I'm guessing Longtai feels a little better about there investment these days. They probably new about Nicholson, hence the conversion of the two mil.
Within the next week or so we COULD get the 3rd site, results from the 2nd site, and some sort of financing news. Maybe Jugu wants back in now...lol
GLTA
My understanding is SPORT will not have haptic. At least in 1.0 A while back Mc had nothing to say when asked about it. He wasn't being coy, just not up to speed or aware of anything.
Nothing really else to add to todays comments, other than fantastic news!!! I was very busy today at work, so thank you to anyone who sold and gave me a chance to pick up a few more shares tomorrow morning. And please, I'm begging you, sell some more in the morning.
Yes we still have to deal with financing soon, and we are still on a crappy exchange, but todays developments puts us on a whole different level now. Way too risky to try and time this stock now. Choppy road ahead still, but we are legit now.
GLTA
Next week is going to be VERY interesting. For argument sake, I guess we can say the recent rally is not finance related. Could be wrong and get an announcement Mon/Tues. Assuming it's not, we have strong resistance at .20. If we push through there the next level of resistance is .27/.28
I'm hoping there holding off on any finance related action until the 3rd site is released. A creative finance deal would be ok, but hoping no dilutive action yet. Maybe we can get her to around .30 and then deal with financing. Much more reasonable level then where we were.
I will say, look at this pps action JUST from either a unit placement at FL, word of mouth at Nicholson, or from Mc's meeting's in NY (maybe a combination of the 3). Needless to say, wait until the bigger news of officially announcing design freeze, submission to the FDA/CE, institutional buying, study results, partnership, etc, etc. It barely took anything to almost double recently. Yes, financing is still a question mark, but like I've said, you can't ignore SPORT forever. And please, for the love of God, NO DELAYS!!!!
Were still not out of the woods yet, but were making progress. Only a few more months til 2018....then it's major milestone time.
GLTA
No real reason other than I remember hearing Canada as a possibility for one of the sites. I would love to have a Mayo or Columbia surprise, but it's really anybody's guess.
I will say that if we do not get news of some sort of a financing deal in the next couple of days that bodes very well for us. There is a reason for this recent activity. If it's not financing, then maybe the folks at Nicholson really like what they see, or the one and ones Mc had in New York went exceptionally well. Investors got in for a reason, and it's not day traders randomly deciding to make a play on Titan.
Just to confirm it was an "internal design freeze". Not an official design freeze, but an internal goal that was very "exciting" to the team and allows them to move forward developmentally (studies, etc). I don't know when an official design freeze for the public will be announced. I think it's slated for Q1 or Q2 of 18.
I don't think we'll get the 3rd site for at least another week or two. I hope I'm wrong, but sounds like a lot of paperwork, etc. It would be nice to get it now to piggyback a little momentum we have. Regardless, the deal is done. I have no clue who it is. I'm guessing a Canadian facility, but we'll see.
GLTA
No firm day on delivery date, but best guess was a couple weeks ago.
Keep in mind, Titan WILL be addressing financing soon. This is high priority for them right now. I would say within 45 days max we will gets financing news. Now again, this might be in the form of normal dilution, or a different type.
My hope is they let her ride a little bit, then announce the third site and see if that squeezes any more out of the PPS. If they could finalize one of the financing deals there working on and get additional capital to take us into 2018 were looking very strong. Then you can dilute next year when pps is much more reasonable and less of a sting to shareholders. This is my hope, but I would not be surprised to see them take advantage of the recent rise in PPS.
GLTA
Not sure the timeframe, but my understanding is that it is already there, or in route. Either way, this was another thing that Titan was excited about.
By the way, you out there ORep?? I know you've been jaded recently, but curious on your thoughts. I fully understand we are not out of the woods by any stretch, but it's nice to see a little sign of life...
Maybe non dilutive is the wrong wording. I believe there will be some sort of other type of financing then the straight dilutive ones we've always had. However, I do believe we will have one of our favorite straight dilutive financings as well. Can't see them passing up on this bump.
Could just be a technical breakout. Although I think it's probably more than that. I believe we will have a couple different financing announcements soon. One dilutive and another non dilutive with an outside firm. Not sure what will come first...JMO
The last several months have been brutal, but I'm hopeful we have turned the corner and are now entering a more active stage. We WILL have financing news, a third site announcement, we delivered a unit to Nicholson, early results from Nicholson in Q4, internal design freeze, etc.
I will be a buyer if we dilute again because IMO .10 will not be seen again. Too much coming up. I will also keep some dry powder just in case for when we do a r/s. Mc is adamant about backing up/supporting pps after a r/s with some news, but you never know short term.
Lastly, Mc had an extra spring in his step recently. Maybe he is a Cleveland Indians fan, but I took it as things are moving forward. I will continue to scream from the cheap seats, if NO DELAYS we should be golden. financing is huge, but any type of delays concerns me more.
GLTA
My business partner spoke to Titans top brass himself...not Randall
So, apparently McNally had several one on one meetings (with potential investors) while in New York, along with his main presentation. It sounds like they went pretty well. The bummer is they do not have enough cash to get them to the end of the year. The 2 mil from Longtai was NOT added to the cash on hand. The main benefit is they did not have to write them a check for two mil. Burn rate is around 2 mil/month.
The 3rd site is a done deal, however it is now in the legal, red lining process. Should still be announced in a couple of weeks.
Internal design freeze is done. This will not be announced public. It is a pretty big deal though. Major milestones are still on track and results from the studies are still slated for Q4.
Back to financing, I've been told that Titan is getting creative in regards to considering all different options for this. It sounds like they may have a few to choose from. Maybe debt/equity financing?? IMO we will see some sort of financing news within a month or two.
It sounds like McNally is well aware of how Fowler was a perfectionist. Always trying to perfect SPORT. Mc does not want to continue this and just wants to get it done. The foot pedal was an easy fix and did not add time.
Sorry for the crypto writing. In a hurry. The rest of 2017 should be interesting. VERY curious to see what happens with financing the next month or two. Don't want to mislead anyone, could be more dilution, but first time I've heard legitimate other options. May not be a great deal for Titan, but at least something. Otherwise all sounds positive in Titanville.
GLTA
Verbally, from management. This was about a month ago. Assuming there hasn't been any recent delays we should hear something relatively soon. I will say I have no idea who the third site is.
The third site will be announced within the next couple of weeks. I know it's been documented for August, but for whatever reason they never updated it for mid - late September.
Regarding there last offering, I think it's positive that Mc and company thought it was sucky too. Speaking to them they were just as surprised and frustrated as we were. Mc is very disappointed in the capital markets response to Titan. My thinking here is if they knew Titan had limitations, deficiencies, unimpressive, etc they would not have been that surprised by a weak response on the offering. However, they seemed to be as surprised as we were knowing that SPORT is the real deal. I guess will soon see how well plan B works for them. Assuming they have one...unlike Hargrove.
IMHO
Could all this frustration be as simple as big money knows it can make good money elsewhere, while waiting for Titan to figure out there financing and further development? Doesn't necessarily mean they have an inferior product or the Titan story is a scam.
Between legal restrictions and the risk of more dilution I would be hesitant to invest a LARGE sum of money in Titan (as in institution large). I'm sure there confidant they will have plenty of time to invest in Titan once there story becomes more clear.
Look at all the money thrown at TRXC. Garbage tech, but they have a product (good or bad), there not on the OTC or any other crappy exchange. The OTC is killing us and McNally knows it. No great options other than Shark Tank, or a GoFundMe page.
IMO, if we can just limp into mid - late Q1 (even with limited funds) we should start to see a pop. As long as there are no delays they can't ignore the FACT that Titan is very close to design freeze, FDA submission, CE, etc. Too risky not to be in the stock at that point.
GLTA
Mid to late September from the horse's mouth
Mid to late September is when it was scheduled to be announced. It would be nice if they released it a little early on the 11th at the conference, but not holding my breath.
Unfortunately TRXC has not set a good precedent for young robotic surgery companies. Investors have been pouring tons of $ into that company for years and they have been getting killed. With that and the fact that most institutional investors can't touch Titan because of restrictions we are left with very few options.
I still say we take on a little debt. Maybe 15-20 million. Just something that gets us well into Q1, if not Q2 of next year. We'll be very close to major milestone announcements at that point which Mr. Market will have to consider. It's easy to ignore us now when were several months out from a hint of major developments. But come next year and news could hit the wire at anytime I don't believe for a minute we would remain stagnant.
I know the risk is putting our IP in jeopardy. What about offering Randall up as collateral? If we fail they get to keep him.
GLTA
Animal testing news/updates set for Q4 of this year.
I hope your right about the site news at the end of August, but unfortunately I'm confidant it will be end of Sept based on the source.
Also confirmed that the shelf offering change was just a formality. At this time they have no shelf whatsoever and are still exploring financing options/opportunities.
Also, the announcement(s) of the next two sites are scheduled for the end of September.
I don't think we should read too much into the haptic patent. Not bad, but doesn't appear to be a shift in strategy/development either way. They have 40 new patents pending and will release public announcements when new patents are approved. These last two do not appear to fit into this category.
GLTA
This recent patent info highlights why McNally said he is VERY pleased with the ongoing technical, etc side of things being accomplished at Titan. Admittedly very frustrated with the capital markets, but hopefully/eventually the pps will catch up with the progress they are making on the development side.
I still am shocked that the pps never recovered some after the recent financing only raised a 1/3 of what they were looking for. Actual dilution does not match up with the initial beating we took. In the end it probably won't matter, but chalk another one up for the OTC...
The plan is still to do a R/S. Not right now, but if the pps gets to .25-.30 they will pull the trigger (a very educated guess). They will also release news, updates, etc around this time to support the PPS.
I was told mid August. If I remember correctly the week of 14-18.
I believe the one positive coming from this financing debacle is it has to light a fire under Titan's arse. They have to know they cannot survive another hiccup or delay. All hands on deck, no mistakes, every i will be dotted. As with individuals, lack of funds can be a great motivator.
Of course there are always things that happen that are out of our hands (new FDA rules, etc)
The Longtai deal is very interesting. Did Mc get a little desperate, or is Longtai afraid of missing the party. Probably a bit of both. If nothing else, we are good until almost November now. Is my math correct? If we can limp into 2018 that will be big. Once 2018 is here (as long as everything is still on track) the verbiage changes to "this year". Final design freeze this year. CE Mark this year. FDA submission and approval this year, etc, etc. Mr market can't ignore us forever.
GLTA