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Still here. As baffled as the next person with this recent financing. After the first raise I mentioned that McNally conveyed that "the capital markets have not been kind to Titan." Obviously they are frustrated and maybe a little surprised as well.
I'm torn regarding debt. At this point, I think it has to be on the table. I can confirm what was said earlier about Mc not wanting to go down the debt road because it would risk there IP, etc. Before this last raise they seemed pretty adamant against it. I actually took there firm stance on this as a positive. I think they know there IP, etc is very valuable and if god forbid they can't get the wheels up they still have a golden egg to shop around.
IMO I believe Mc views Titan's core technology, IP, etc as his insurance. If he can't get Titan to the promised land he can at least unload there Tech at above his option strike price (.50+). He's not going to walk away from this gig empty handed. Hence, he will do everything from risking it with some sort of debt offering/agreement. He won't risk it as collateral.
GLTA
Yes, how could you not after a 100+% return for traders and newbies. IF Mc and Titan execute there plan entirely it shouldn't matter in the end. Just a bumpy road ahead.
What is going to be frustrating is when Titan bumps up to .22+ cents technicals and traders will indicate a 100% return. .30, .40, .50 etc is going to be even "bigger returns". The problem is Titan should never have been this low to begin with. It is beyond oversold. This bottom we've been hovering at is absurd.
Were almost in August folks. Things are about to get interesting. Can't believe how fast the year has gone. Normally it would bum me out, but for Titan's sake I'm glad at how quickly time has gone. I'm praying for no surprise delays, and another 10 mil to get us to 2018.
GLTA
A few bits of info:
No R/S any time soon. "Not the right time"
Quarterly report coming in mid-august. Should have some updates, etc.
Some will be angry, but NO insider rules against recent BOD purchases. They were all personal buys. Including Mc's
Recent financing was stopped after they met the minimum. It is still open and they can raise more. However, it is not a base shelf. Don't think they were happy with it overall.
Titan is frustrated with financing. "Capital markets have not been kind to us." No comment about another one in 2-3 months.
VERY happy with the quality of work being done on the technical side, development, etc.
They are fully aware of shareholders desire for more news, transparency, etc, but Mc is not a fan of just releasing info without any significance.
And Mustang is correct, AGM video should be uploaded sometime next week.
GLTA
I think you hit the nail in the head. For the past few years Titan has been at best treading water (as far as progress). We HAVE to get to the next level if we want to see any significant interest. Yes, a patent here and there is nice, and a new SAB member is a feather in the cap, but it's NOT significant with regard to development. We need major milestones met if we want the outside world to jump in.
Your frustration is valid. I think there is a good chance that certain regulations kept him buying more, and needed to stay below a certain threshold. I base this on nothing other then what looks like a symbolic 3k order. Had Bernholtz not bought what he did I would be more worried/upset.
Good day DRG. I remain cautiously optimistic, but this PPS continues to baffle me. I'm torn between blaming the OTC, but also realizing that the PPS is generally a good indicator of how things are going for a company. Needing 60 + million must trump every other positive development from Titan. Bottom line: why invest now when you know they need to go to the well again. Personally, I feel the patents they have, the growth market there in, the players involved, the SAB, etc, etc would have more intrinsic value. So far I'm wrong on this.
I will say that I am still very confident in McNally. I've said it before, but I believe he will do everything he can do to maximize the return/value of Titan. It may not end up being what we all hoped for, but this is what he does. My personal dealings with him show him to be very driven, while having integrity. Again this is my opinion. If we fail, I feel he will have done his best. As for his 3k investment, I'm not to worried about it. Don't know about insider rules, but Bernholtz throwing down a good chunk is good enough for me. He has pretty much the same info that Mc has. Plus Mc has 8 million reasons for this thing to take off already. Martin is an insider, and at this point, is probably the largest shareholder in Titan.
I am hoping to get some updated info that I will share in the next few days. Can't promise anything, but we'll see.
Lastly, ISRG succeeding with SP is a good thing for Titan. It paves the road and validates the market. Mc sees it the same way. Although, I don't want other competitors beating us to market, but for now ISRG success here is not a bad thing.
GLTA
What's frustrating to me is the current PPS is reflecting a dilutive financing raise of 17mil, not the actual 5mil that we raised. When the details came out of a 5 mil raise (not 17) the PPS should have adjusted accordingly (roughly). But then again, were on the OTC...nothing makes sense.
The recent tank job is way over exaggerated, and inconsistent with the actual financing - IMO
Get us off this crap exchange!!!
Thanks for the update TO. Yes, taking on debt is not happening at this point. One of the main concerns is that all major assets of Titan will be at risk with debt. Just "not wise for a pre commercial company."
The patent issue/wording in Sedar is more generalities. If you read the entire thing it explains as much. It is a potential "issue" or "situation" that must be addressed in standard guidelines/projections. I've been assured that they have a very experienced in house engineer/regulatory person that monitors this stuff and gives them updates frequently.
To reiterate TO's comment about the R/S (which I mentioned a few weeks ago), the timing if/when this happens will be very strategic. At the time I mentioned this I didn't think they would do a R/S immediately, but if they announce an initial design freeze soon I could be wrong. That type of news could go a long way in confidence. Although, I would like some additional news to help support the pps. I'm glad TO confirmed again the company's focus on the importance of maintaining the share price afterwards.
I like the plan, but time will tell if it works.
GLTA
There is a plan. It just comes down to whether you trust McNally to execute it. IITF referenced the uplisting, the other part of the plan involving agreements, partnerships, financing, etc hinges on the uplisting (was specifically told this). Unfortunately, we have been lied to and screwed in the past.
I may be wrong, but i'm choosing to believe McNally. After reviewing his resume and past success, as well as personal contact, I think he's legit. If nothing else, I feel better going down with the ship with him at the helm. Had I gone down with Hargrove, that would have been on me.
Don't know how this is going to play out. I also don't blame the naysayers at this point. Alot of good points from all sides.
GLTA
Not sure why today was a surprise to some. Deep down, we all knew it was coming. For me, today is why I voted for the R/S. We can't keep doing this. It's basically playing out the definition of insanity. Doing the same thing over and over and expecting a different result.
IMO (I think ST mentioned it as well), this raise should get them to the end of the year. It gives them flexibility as to when they will do the R/S (which will not be right after the AGM...IMO). Again, they will do it when they have concrete news/agreements to support the PPS after the announcement, etc. That is the plan anyway.
I think the patent and design info is general verbiage and disclosure. However, I do wish someone at the AGM will press David. I don't think we will get anything earth shattering from the AGM. Especially with nobody there. In David's defense, I do give him credit for doing a raise a week before the AGM. Could have easily avoided any scrutiny by doing it after the meeting.
Today does not concern me. However, if they change milestones again, or do a redesign that is when I would jump ship. With that said I don't blame Posi, Longmoney and any others for getting out. You got to be able to sleep at night. Right now I feel like George Costanza when he invested in the Robotic Butcher company. It was tanking and decided he was going to go down with the ship. Hoping for the same turnaround.
Lastly, as of today, the plan I was told is still in place. Nothing that happened today contradicts what I was told. Not happy at all with the PPS, but I have this nagging sickness telling me to buy. I think I'll wait a bit.
GLTA
I'm confident McNally's capital market experience will be revealed relatively soon (3-6 months). If not before, he will show his hand after the R/S. You may agree or disagree on this strategy, but it's what's coming.
With that in mind, the current pps is already taking a R/S into account.
GLTA
No real relationship other than a long time Titan investor that works in the medical industry. I've been fortunate to have access to them through a friend. He also works in the med space, but way more connected then I am. Again, I am no longer dealing with Randall. He was pretty much my only source for a while, although I did talk with hargrove a few times.
It was just my feeling after talking with them. Kind of a quiet confidence. I could be wrong, but just my gut.
I don't know if it's intentional, they already them (maybe a little of that), picking there brains, keeping options open. I honestly don't know.
I didn't get the feeling at all that Titan is entertaining the thought of partnering with TRXC. My impression is Mc is very careful about making enemies in this market.
In Titan's defense, they are also friendly with folks at Intuitive, just not as much as TXRC. Gary Guthart and David Mc are friendly to each other. Titan also sees no issues at all with Intuitive bringing SP to the market. They see it as a great thing for the market and a validation for what there doing. Not threatened at all.
I would ask them are you 100% comfortable with the plans/strategy you have for after a potential R/S. Are there agreements already in place, whether written or verbal, or are you just "in talks"? I believe it is beyond talks, but would like to pin them down on this one.
Do you have a contingent plan if for some reason this plan does not work out? Do you have a contingent plan for the contingent plan? Been burned before and long time investors are very wary.
Can you say with absolute certainty that you will not move any more milestones/timelines? I just recently brought this up to them. I basically said if 2019 gets delayed or any other major revisions there will most likely be a mass exodus out of the stock...myself included. I don't want to hear well were not planning on it, but you never know. Sorry, at that point sell the patents and technology for $1.50 and be done with your little project.
Not sure what to think of this, but Titan has a VERY friendly relationship with TRXC and there top brass. They respect them alot and said they have some very smart people over there. Not suggesting anything. Just found it mildly interesting.
I can at least answer your first question and say they have been advised to uplist. What this translates to after a R/S is anyone's guess.
Although I've been pretty positive with my posts lately and the info I've passed on, I'm very frustrated how nothing has changed with regards to news, transparency, etc. As many have noted here, nothing has changed here. Again, hoping/assuming many questions will be addressed at the AGM.
GLTA
Your assumptions are right on track DRG. They are VERY limited as to what they can do right now. And yes, they have been in communication with several people regarding this. What I don't know is if any actual deals are in place or in writing. But again, they have been in talks and people have stressed they need to be uplisted before next steps. Mainly for there own requirements, and regulations. These guys just can't do anything now with the position Titan currently sees itself in.
Despite some of the info I've come across lately, I really don't have any opinions on VERB, Ethicon, etc theories. I won't go as far as saying that deals are in place with these guys, but I do know for sure they communicate, and associate with them frequently. Time will tell on that one.
Only to what it could or probably would entail. My understanding is they will be very strategic as to when on the R/S. They are 100% aware of a floundering stock if you don't have anything tangible to back up a R/S.
I think a letter is great, but do we know if anyone is going to the AGM? These questions asked in person would be that much more effective.
I do like that this strategy has many different potential facets. institutions/investment firms, partners, old connections. They are not putting all there eggs in one/two baskets, i.e. hargrove with longtai, and jugu.
Still clueless as to what will happen over the next 3+ months. I kind of want to turn my computer off and see where things are in September.
GLTA
Titan didn't have a choice regarding taking Patel's name down. This was at the advice of his legal counsel.
Exactly right about Patel. He is still on board. Just a legal thing with his bio. For those still wondering about the over allotment, they maxed out the previous shelf, hence over allotment could not be accessed.
Thanks BKT, but not feeling great sitting in the .26's.
I know alot of people have a ton of shares invested in Titan. I'm sure much more than I do. Please make decisions that your comfortable with and not a poster on IHub.
Thanks Geo, I think I've proven for the last 6-7 years that I'm not a crackpot on here. I know it's kind of lame to post like this. I just want to make sure I have access to additional info in the future.
With that in mind, I can guarantee you there IS a plan (and it is pretty involved) However, I can't guarantee who is involved or how it will play out, or that we will make alot of money. I just know the wheels are in motion and unfortunately a R/S is the avenue. I'm not saying buy more or sell. I have no clue how this thing is going to go near term.
GLTA
They still have space in Toronto. I know Randall is still there and not sure where McNally lives, but he is in Toronto alot.
I don't know specifics about institutions, partners, etc, but it does not seem like a hail mary at all. They just have WAY more options for funding, new exchange, agreements, etc with a higher pps. This shouldn't be a shock to anyone. I just know they have alot of connections and people waiting on the sidelines.
Then again, I'm just some schmuck on a message board. PLEASE if anyone is going to the AGM ask the questions our group has raised constantly.
GLTA
Let me just say there IS a plan. ALL of our concerns about the risks of a R/S are known within mgmt. If/when a R/S is approved it will not necessarily be implemented immediately. Not trying to be cryptic, but the AGM should be informative, and especially if anyone is attending and asks these questions.
The current downtrend in PPS is some investors already taking into account the impact of a R/S, shorts taking advantage, and maybe some investors getting out with the sedar news.
And no, not from Randall...
Mustang, where in NH are you? My wife's family lives in Nashua and Milford. Were there about once or twice a year.
I can't say I am surprised. A few weeks back I passed along some info regarding Titan. One of the facts is that they REALLY want to get on the Nasdaq. Much more opportunities being on there financially, partnerships, etc, etc. This was not from Randall. I think they are doing it for the right reasons, and believe they have a plan...time will tell.
Agreed. If it wasn't for the technology and the robotics market as a whole I would be out...
Bottom line is, if SPORT is as good as we think it is all of this is nonsense. If Buffet came in and plunked 70 million in to Titan and SPORT sucked, the company fails regardless. If we do a R/S and SPORT takes off were off to Vegas. Investors after FDA approval, sales, etc aren't going to be saying well SPORT is awesome, but Titan did a R/S split a while back.
We have a new results driven CEO with a very good track record. He's decided to rip the band aid off. TRXC is s horrible comparison. Crap product, 100+ employess, bleeding cash. Not saying this is ideal, but WHAT other option is there for institutional investment/coverage, financing, etc??
I work for a patient monitoring company in Southern California. Use to work for B Braun Medical and Applied Medical years ago.
Yes, it could be anyone in the industry. But VERB is definitely in the equation. Of course Titan is still proceeding, or acting as if, they are going all the way to commercialization...they have no choice
Yes, Titan does and continues to talk to VERB, AND other companies in the robotic space. How often, and in what detail I don't know. I do know that Titan is very open to a partnership, whether strategic or financial.
With that said I don't think any formal agreement is in place. Our best guess is that Titan has been approached about some sort of deal(s), but it was a weak one or two. As we know, they are operating from a place of weakness (at this point). Thankfully they know what they have, and they don't want to give away the store.
Again, if/when we start knocking milestones out of the way this type of talk, whether legit or rumors, will increase daily...IMO
My take exactly. I was glad to hear this. I don't want McNally selling at $1.50 because he wants to move on to his next project, or because he has 8 million reasons to.
All I know is we HAVE to make some significant progress with our milestones. New outstanding SAB members are great, patent approval/portfolio are great, etc, etc, but its not tangible enough to get us to the next level. We will continue to flounder until we get news of concrete progress.
I've been in since the Amadeus days and cannot take another delay. We have so many other options if we can just knock some of these milestones out of the way. The offers/partnerships/opportunities will come if were making significant progress and inching closer to commercialization (whether real or perceived).
GLTA
Let me clarify, ex-intuitive rep. However, he still runs in the same circles with all these guys. Haven't seen him in a long while, but got back in touch with him through a mutual friend/colleague.
I am not saying there is a deal in place with Verb/Ethicon, etc. The only thing I can confirm (100%) is they (Titan) have and continue to talk to all the companies we've been throwing out there...Verb included. This is ongoing. A partnership is certainly a possibility, but it's apparent these guys want Titan to be further along before taking any next steps.
No Randall. Haven't talked to him in a while. It was just an expiring contract, paperwork, etc.
The QB "downgrade" was for nothing more than general financial, operating, etc requirements needed to be on the QB. I have zero concern about it, or them moving...which there not.
However, dilution and reverse split are still front and center. Actually, more dilution then an R/S. The latter is not ruled out, but wouldn't be for a while. It sounds like there smart enough to want to get the PPS up before doing it. If they do at least they will be doing it for the right reasons (NASDAQ).
Lastly, I believe this has already been mentioned, but they want three working prototypes in facilities by the end of the year. Two in the U.S. and one in France. Thoughts on the French connection??
GLTA
Titan is not moving...confirmed
Up until now I have been agnostic regarding the whole Verb, Ethicon, etc thing, however I now know for a fact that there have been discussions about partnerships, etc with Titan. However, no specific names were given, but assume the usual suspects were/are involved. This is ongoing and do not know either way if a deal is in place. At most I think a verbal, or a gentleman's agreement. This market is way more incestuous than I thought.
Titan also REALLY wants to get off the otc and get onto the NASDAQ. Good for long term, but don't know how w/o a R/S.
This is all from an Intuitive source.
GLTA