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For what it's worth, the so called "smart money" is betting that Titan gets out of this mess. The immediate accumulation the following days and subsequent leveling off at mid .50's (as of today) is evidence of this. We would be drowning sub .40's if things were spiraling out of control from the inside. I'm not saying things are rosy at .55, but it tells me all I need to know (for now).
I wish it were not true, but we are not the smart money here. The main reason is we are not in the know, or well connected. There is a reason why the pps has been anemic for a long time. The insiders knew it, we didn't. We've been screaming forever why this great, state of the art robotic company is not trading higher. We have very smart, experienced people on this board, but we just don't have anyone on the inside. I've said it before, but the best source of inside info is the stock price.
Gekko was right, "If you're not inside, you're outside!"
Honestly HC I don't know what to believe anymore. All I do know is that one or two of us is bound to be right and they will have bragging rights. I hope for all our sakes its BK.
Keep in mind, the original two Chinese deals were going to bring in roughly 35-40 million between the two. Imo I believe the Chinese are trying squeeze Titan for a better deal. They have leverage and there trying to use it. With that said, If Titan is able to salvage both of these deals at or near the initial agreement we ARE golden. Yes, your dealing with the Chinese, and they may have to give away more of the store (warrants, etc), but financing is OFF the table.
The pps would stabalize and most likely creep back up to .60-.70 + at which point you can do another financing at a (not great), but better pps. They could easily get another 10 mil from the financing and now you have around 50 million. This gets you well into 2017 and very close to the finish line where more potential suitors are seriously paying attention. Much easier and justifiable to take on a little debt at that point if you need some last minute cash.
Aside of the fact that we have Shemp negotiating all this, we should be good...
Good point. A few years back there were rumblings about the Canadian govt getting involved with grants, etc. This was going to be a great feather in Canada's hat with this new state of the art technology. They may step up, but not holding my breath.
I don't trust China at all, but I'll take money from Putin at this point. Certainly not ideal, but if all other legit options are off the table it beats the alternative. Either way, it at least buys us some time.
Crazy volume already today...
The conference is next month (9/19), and Titan is still on the supplier list. Not sure how often they update it.
Pleasantly surprised to see green today. I thought we would bleed at least for a few days (still could).
.45 cent range is very tempting to add, but need to see how this plays out near term. Still holding every share.
Are we still signed up for the IDN show? Why did we go to the recent Surg. conf. with little to no money on hand? Either they are the worst money managers in the world, or they are not as concerned as we are.
For the Seinfeld fans on here, I am suggesting JH and the rest of them start doing the "opposite". If every instinct they have is wrong, then the opposite must be right.
GLTA
Question - why would Titan not do a financing last week (or earlier), before laying down there financial cards yesterday? They could have gotten at least 8-12 mil in the .65-.68 range. They would have to know that once they notified the public of Jugu, Longtai, production delay, etc that the pps would tank on the news. Giving them even less of an ideal pps to engage in a new financing.
If your on the verge of bankruptcy why not go to the well one more time last week and squeeze every last drop out before dropping the bombshell (act of desperation).
Not sure what is going on, but I really would like to be a fly on the wall in JH's office.
I also wish Titan would try and get Jugu and Longtai together for a meeting and discuss the strategy moving forward together. Convince them that with the help of both them and there resources this investment/project has a HIGH likelihood of success.
It's too bad the Jugu and Longtai deals are in jeopardy (if not already dead). If Titan can somehow manage to salvage those deals it will help stabilize the pps (even if they have to give up part of the farm). With that I think pps can creep into the .70's and you do another financing there for another 10-15 mil (not ideal, but better than .40's). This gets you easily into 2017 and much closer to CE, etc. Your in a much stronger position then for future financing options, partnerships, etc being that close to approval(s).
I'm really hoping/praying they can salvage one or both of these deals. JH did not say they were dead yet.
Take a loan out, or consider convertibles. That's great your debt free, but who cares if you have to freeze development, stop production, etc.
The morale for this company and stock is so low now (deservedly so) that any sliver of good news will pump the stock up.
I think we settle around .45-.50 I imagine some buying towards the end of the day as the overreaction fades. Buyout amount will be double/triple whatever we play around at tomorrow.
They would have to replace them with a couple of veteran studs for the pps to respond favorably. Otherwise we tank. Don't think we can get anyone like that right now.
I just keep going back to these guys have been around for a long time and been very successful. I just can't believe they are this incompetent. They stand to make a fortune if sport succeeds. I think they are mainly focused on the FDA. Everything else is secondary. They know the technology is there. In there minds, we get FDA approval we are golden. Now you have options of going alone, getting bought out for a hefty premium, etc.
Regardless, I don't mind one bit keeping there feet to the fire. We are still owners in this company and deserve to be treated as such.
GLTA
I wouldn't be surprised either way to be honest with you. Hoping for the best, but expecting the worst.
No, for me. Enough stuff we already need to deal with. The optics of both CEO and president being ousted would send us to .30. More uncertainty for investors to process. Unless you were bringing in a big wig from the medical community, I don't think a net positive at all. No chance for Titan to bring in a big name at this stage anyway. With that in mind, they should be on a very short leash the next 6 months. All bets are off with any new negative surprises.
Agreed, we're barely up 5 cents from our recent range. If we hit .80 plus then maybe, and yes much quicker. The volume has been up slightly, but still relatively anemic. Nothing going on regarding financing imo. We have a few things coming up in the next couple of weeks. Probably a few getting in hoping for some positive updates coming up
If China is good enough for Apple, Abbott, Intel, Stryker, Edwards, Microsoft, etc then it's good enough for Titan. Your points are valid, but China is growing huge and major corporations are flocking there. Not a perfect place to do business, but it's where things are headed. Only problem I see is if trump wins then we will have nothing to do with China. Sarc.
I say hit China and any other market you can (Japan, Europe) with ce, then hit u.s. after FDA . Still plan on both, which I think is there plan.
Agree short term is a big question mark. Some reshuffling would not be the worst thing.
I really would like to know what is going on behind the scenes with these guys. I don't believe they are this incompetent. They have more to gain than all of us. They have been in the medical industry for decades and been very successful. I still believe there is a lot going on that we have no idea about. I'm giving them the benefit of the doubt, but it's by a thread. If they didn't have a finished SPORT I might think differently (don't give me the foot pedal is not done so no finished product).
The next few months will be interesting. We need some news, shake ups to give this thing a new life. Otherwise the prospect of .50-60's for rest of the year is depressing.
GLTA
They have been approached, but Titan will not entertain for a second. They are being extra cautious and not shy about it.
I am cautiously intrigued by your posts and apparent conversations with Titan mgmt. Just curious if you have any thoughts on who will replace hargrove as COB. Also, timeframe, etc.
Agreed, but who else do we really have? Maybe he can wow them with his academic, visionary talk.
What are the chances Titan is renegotiating with Longtai for more money? Could it explain the recent delay? Every extra million counts at this point. With Fowler overseas, hopefully he is on a financing mission. If all else fails we can always try a Titan GoFundMe page.
Up 10% on 29k volume. I've given up trying to figure this stock out.
I'm considering Hargrove's replacement as the next major milestone.
Not to jump on the bandwagon, but great post...
Absolutely...just about there entire commercial team are ISRG guys (sachin, nahon, siebert, etc). I'm sure titan milked everything from Joe while he was there. Titan is surrounded by medical experts, veterans, etc. it's one of the reasons I'm still invested.
As for the pps, I don't think it would be much better if Leon had been in charge this whole time. He was just as unimpressive as Hargrove. My point is there are too many talented people hitched to SPORT. I see no point in selling as long as this current team remains intact. All imho...
Despite all this, the current situation is very frustrating. With zero catalysts for a while I can't see why any new investors would tie up there money in this investment. Not when money can be made elsewhere. Unless they have something up there sleeve patience is going to be tested.
Actually Paige had already been working at Titan for a few months before Joe left. She was hired for worldwide sales, International Growth, etc. She wasn't hired for BD. They added that to her title once Joe left. Regardless, she is expendable now that we are once again a good year or two from sales. I see no reason to pay her salary at this point...imo.
I do remember that. Joe left because they didn't need him anymore. Fowler was doing his job and more. No need to pay 200k to someone you don't need. Especially for a startup...
Again, different time. No one post Amadeus days...
Thanks IITF. One of the reasons I asked is because the CEO of the patient monitoring company I work for is very involved in ALL decisions/strategy. I think part of it is his personality. Very motivated and type A. Much different than Hargrove, who clearly seems the opposite.
One other thing that I feel is very telling at this point is that no one has jumped ship. Top mgmt remains the same, the SAB, the Board, etc. I find it hard to believe that if the outlook for Titan was not looking good there would be some sort of exodus. I know Leon left, however I feel he was forced out and it was also a different time.
I much prefer Hargrove getting voted out as opposed to leaving on his own. Even though he is not well liked on here, his sudden voluntary departure would not have been positive (optics, health of the company, etc). If one or two of these guys start leaving then I will start to get a little nervous. And if Fowler ever leaves then I am out.
The loyalty/stability of all those involved at Titan is IMO a good thing at this point. About as good as insider info as we can get right now.
GLTA
This may be a stupid question, but what power/ influence does the chairman of the board have anyway? Especially for a startup like Titan? If/when hargrove is out as CEO then I see it as being more consequential.
Thanks cpt, Jet is supposed to be there as well. It would be great to get two different perspectives on the meeting.
I hope the new website is not a smokescreen for an uneventful meeting tomorrow. Feel like there just throwing us a bone as they plan to dodge and weave through anything substantive. However, I really do like the new site. Long overdue, but glad they finally did it. We can cross that one off the to-do list...
Hey CUIN, hope all is well. It's snooze time over at Titan, but I still own some Theralase. Haven't been following it much lately. Are you still a believer?
I don't think we get much from the AGM. However, it will be nice to have Jet and I think one or two others there in person to get a feel/vibe on what's really going on.
I would like to ask them if there is any sense of urgency to get SPORT out there considering it appears a group of deep pocketed competitors are nipping at our heels. Again, there is going to be room for several of us, but getting there 2nd would be a nice strategic advantage.
GLTA
All this does is validate the future of robotic surgery for me. It seems every large medical device company, along with tech behemoths are jumping in. Frankly, it eases my mind a bit. Titan is in the right market at the right time. If we end up being second to market great, but I'll take 3rd, 4th, whatever. It is very clear now that robotic surgery is global. There will be a piece of the pie for many competitors at least for a decade.
We just need FDA approval and we are golden. Once that happens we can either go it alone, or get bought out. FDA approval GUARANTEES us a nice hefty payday whichever route we take.
The delay sucks, but it seems they know this and there doing everything possible to get approval.
GLTA
Just another example of what the FDA is capable of. Given Bio is already under much more scrutiny, I'm giving Titan grace for having to deal with these turds...
http://www.cnbc.com/2016/06/02/sarepta-sinks-as-fda-changes-investigational-drug-process.html?__source=yahoo%7Cfinance%7Cheadline%7Cheadline%7Cstory&par=yahoo&doc=103684750
Good question, I think TRXC just has better manipulators, more resources, more shady characters, etc...
It would be very interesting to be at the AGM and pull JH, Fowler, etc aside and say, "How has it been working with Verb Surgical? Do you plan on announcing the partnership anytime soon?" Someone could learn a great deal by there, body language, response, etc. Asking this in private instead of during the meeting would probably be much more honest and telling.
If I knew 100% sure we are currently working with Verb I wouldn't give a rip about the current PPS. As it stands now, with a very exciting, well received, completed robot, I care about 75% about our current PPS.
GLTA
Also, has anyone confirmed that they will be attending the AGM? I know some wanted to go, but anyone for sure?
What Lies??? I don't think I posted anything that anyone on here didn't already know, or could guess. As for Verb, he said nothing...
No, just J & J and Stryker. He was just giving them as examples. Not sure if he meant big companies like that, or just rattling off a couple in general.
Yes, Randall... take it for what it's worth. Put a call and email into JH last week, but nothing.
I wish I could dig deeper, but it's impossible with them. He did say (confirming what someone else on here said), that eventually investors will be very happy and these prices will be long forgotten.
I should of asked what his idea of happy is. Is $3-4 happy to you, or are we talking $30+.
He also said that this is not a .70 stock. Again, my fault for not saying, well do something about it...