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At the time of the prior repricing, one of my sources had indicated that Mr. Brar had indeed received an offer from an unspecified competitor. He was one of my biggest concerns with regard to their talent pool, so yes, I supported that one and I do not regret doing so. That repricing was somewhere in the $3 range if I recall correctly. I have since been able to average down further such that I am not too far from there and I believe that if those options get to be in the money, I too shall profit if they do.
At this point in the process, I believe that the core technologies which define our system are sufficiently protected by the existing patent portfolio (both approved and pending/submitted) to a point where he could possibly be replaced by another tech patent specialist, although I do have a strong preference for retaining Mr. Brar if it is feasible to do so. There is no good argument for a further re-pricing of their options, and I am unaware of any such consideration by the management team. The entire repricing issue at this point seems to be some random topic of discussion fabricated by random people whose motives regarding Titan are questionable at best.
As for another reverse split, I am against it. The only reason for it to have occurred previously was to get share price high enough to qualify for NASDAQ listing in the first place, because the team believed that NASDAQ listing would unlock some doors to major fundraising potential. I thought NASDAQ was a "nice to have" endorsement so I was okay with it at the time. Since the strategy has proven to be less than effective and fundraising remains an issue despite our listing status, I have no qualms about losing the NASDAQ membership at this point since it apparently hasn't helped. In fact, just the threat of delisting is now being used as ammunition to further deface the company's reputation publicly, so it has actually backfired in my opinion. Basically, if it happens, we should let it happen and just move on, focusing on the more pressing issues of the day.
The other downside to a reverse split has also hit us hard. We are outwardly viewed as a penny stock and fair game for shorters. What were we trading at before the first RS, around 20 cents? 30:1 RS brought us to about $6? But the public perception of us as a penny stock continues to plague us, especially with the amount of negative sentiment expressed publicly helping to reinforce that impression and keep us on a generally downward trend. So guess what... we went back to being a penny stock with no regard for market cap considerations. We are sitting on a patent portfolio which could prove to be worth billions of dollars but market cap is what, around $20M? That could be 1% of the technology's value as far as anyone knows! But that also means the potential upside is absolutely ludicrous!
So to cut back to the chase, I'm a No on repricing and No on reverse split, even if it means de-listing - hell, let's get the NASDAQ monkey off our backs and move on.
But I will ask, why are you asking these questions? Is there any indication from the company that they are considering wither of these moves? Or is it just based on grumblings from a group of angry investors?
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Will you vote yes on another option repricing? You were so worried about “talent” leaving..lol
I told you MacNally was full of crap....
How about another RS? You up for that too?
It looks like Trixie sold (or leased) three systems last year, with two of them to be placed first quarter 2020 (and presumably the third has already been delivered). Over $8M revenue (projected) for 2019. Can't tell for sure but the new 510K filing may be a software-only upgrade.
What I find interesting is that when Titan has built product for testing, they historically put together more than one unit at a time, and that is obviously well before any possibility of being released for sale. But what piece of Trixie's business model prevents them from delivering to a customer for three to six months after booking an order? I hope Titan can learn from this - once approved, we will need to be able to deliver hardware when a customer places an order!
Maybe Trixie ran out of wheels. Four per pod times four pods plus another four at least for surgeon console...
Not specifically, but let's hope history can repeat itself!
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Last time you responded to me that same way the stock exploded.
Do you recall
About 800 shares... Not a huge scoop but a tablespoon is better than a teaspoon! And if it was just someone playing games, they usually do much smaller volumes.
Well, I'd say this is all very promising! When folks have to dig back nearly a year to Design Freeze to find something to complain about, we must be on the right track!
RS unlikely. No point in RS if market cap isn't high enough to stop de-listing.
A pre-market trade over $.70!! Can this news push us back out of delisting territory??
Sorry Adrock! My screen hadn't updated with your latest posts about Cambridge when I posted the news...
News out!!!
Partnering with Cambridge Design... Development is back on!
Could Mr. Frost take over the helm at Titan and remain a Director at CMR, a competitor? Wouldn't that be a conflict of interest?
Management gets hate mail all the time. Even from tree fort members. Why would they read any of it through to the end if it is filled with insults and slander? Complete waste of their time.
If you offer them something worth reading, maybe they will read it. That was my point.
If someone sent you an email that starts with "Hey, you're a big stupid jerk...", why would you bother to keep reading it?
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I must respectfully throw Mustang 66 right under the god damn bus...hate to but I have too. What an idiotic statement about sending a shareholder letter that is constructive and provides "suggestions" as to how Mgt should get out of this f'n mess. THEY are the experts that were CHOSEN to fix things after the JH debacle dipstick.
Are you suggesting that a Chinese company might be persuaded into funding us in some way which won't devastate our investments with dilution? That is one of my biggest concerns (the potential dilution). Otherwise they have already shifted gears a couple times with regard to where they want to launch. I'd be fine with launching in China if it gets us out of the hole and into the market in a reasonable time frame.
Beer good. Text soon.
https://www.businesswire.com/news/home/20191211005655/en/transenterix-announces-one-for-thirteen-reverse-stock-split-common
Announcement yesterday. 13 to 1 reverse split for Trixie. Their market cap is still around $42-$45M; some reported values are not yet updated, like outstanding share count.
Better them than us for doing another reverse split!
Anyone know when the last system was sold by Trixie? I haven't heard anything but always good to know what Titan's "competition" is up to.
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I think your talking about VERB not TRXC..
HC, I think this post is drastically misleading.
First of all, you say patents have value. That is VERY true, especially when patents such as Titans pertain to highly desirable concepts, functions, and devices in a rapidly growing technology such as robotic surgery. You then offered one small piece of the cost (not value). The cost you specified is merely a filing fee, as you did point out. But you omitted the real costs of conceptualizing and developing the idea into a patentable entity, then incurring the additional costs to carefully script the application into a reasonably descriptive and protective document (patent application) to send out with the relatively small $15k filing fee. And these are all just costs, not value.
The VALUE of the patents is somewhat intangible and hence they are worth what someone is willing to pay for them. This patent portfolio has the capability of transforming another organization's robotic offerings from a behemoth system which occupies an uncomfortable amount of real estate around the entire perimeter of the patient table (e.g. Medtronic) while giving them the ability to market a new single port system without needing to work around the plethora of technologies locked up by Titan's patents. Alternately, a company with an existing single port system (ISRG, obviously) could buy the Titan portfolio to both enhance their current line of single port offerings as well as to serve as a blocking mechanism for other possible competitors. They could even use some Titan patents to enhance their multiport offerings (such as with the camera wash system).
I think if that is the end game, it would be foolish to allow someone to cherry-pick a few patents from the portfolio; it should go as a bulk offering, as part of the sale of the entire company.
I'm not saying that I think this is the strategy they are employing, but if they went this direction, regardless of costs, the VALUE could be well into the billions given the competitive advantages a buyer would then possess. And if they get the funding to proceed as an ongoing entity, the sky is the limit (although as time marches on, more competitive clouds keep occupying that sky).
Message in reply to:
Honeycomb777 Saturday, 11/30/19 11:41:38 AM
Re: None 0
Post # 100840 of 100888
One last post from me today...Patents have value folks. To file one, the fee is ~$15K. So 125 x $15K = $1.9M in costs alone that Jazzy had to pay.
So, I guess you really have to look at which ones (patent pending) are the most crucial/valuable. Just like Titan wouldn't say hurry up to the FDA if approval was taking too long, I doubt Mc is going to get on the patent office for those outstanding ones filed 4-5 years ago.
HC, I'm not thrilled about seeing the de-listing topic so often but surely it could be in our future. I'm not sure it would have any impact at this point.
The Medtronic prospect is certainly a much more appealing topic. They paid $1.6B for Mazor and their patent portfolio of 50 total global patents. Granted they had a marketed device, but with limited indications. Titan has nearly 50 US patents awarded, plus another 120 international patents and over 80 more US applications already submitted. With Mr. Brar recognized as North America's IP Guru a couple years ago, we should have reasonable confidence that a majority of the apps will be granted. In total, a patent portfolio five times the size of Mazors, for a technology with a broader range of applications/indications than Mazor.
What should that be worth, in light of Mazor's offerings as a comparison?
Message in reply to:
I hear you, I understand your intense frustration but I have to ask was it all planned? Let's think a moment:
10-12 people at Titan doing what 100's most likely should be doing
could they all have been paid off making it look like idiocy to stumble and bumble around like they have been to keep Titan under the radar for a biggun to pounce
Are their marching orders now to award themselves more low priced options and get enough money to complete Milestone 8 - ISO Cert
You think these fools will actually be at the next AGM
Delisting talk is coming and oh by the way, they have 180 days to get things fixed so if we get the warning NOW - it brings us to....wait for it MAY 2020. HHHMMMMMMM Zaring is here, Martha is Medtronic's CEO come April 26th and the AGM is typically in June. Hard to argue that one plausible theory is MDT grabs Titan's SP device as they work on their multiport and have 1 HUGE/dedicated software team to install versions on BOTH robots to launch and smack ISRG in the Nutz come 2021-2022? HHHMMMMMMM
A development stage company has two things to offer: 1. Shares of stock, and 2. The potential to be worth substantially more in the future. We have seen that it has been inordinately difficult to attract big dollar investors to a company which can't break free of control of those who would manipulate our stock price and hence keep it so low that it is unattractive to big money investors. Prospectus after prospectus have detailed what steps are next and what the associated costs are. With nobody willing to step up to the plate with big enough investments, they don't have the funds to meet the projected timelines.
How happy do you think Longtai or the private placement group are with their investments to date? They would be much happier if the stock price hit the analysts projections of $6-8/share a couple years ago (and so would all of us). Those were reasonable estimates at the time based on the status of the project. When the money was coming in, the development was progressing per the schedule.
As of late, funding has not been there for them. Period. They were on the verge of doubling (or worse) our share count in order to keep development moving. I'd rather they sell out with 50M O/S than go it alone with 200M O/S because frankly, I'm tapped out. Personally I'm glad they shut down the last round of dilution; it was just too egregious for my tastes.
I'm not saying management has no responsibility for the direction we have gone. Design freeze in April - premature? Minor tweaks like moving the foot pedals, no big deal. But after HFE was completed, they re-spin the insertion tube and much of the contents? That's a BIG WTF in my mind. Letting a contractor go off the rails? Should have been more closely monitoring progress and keeping tighter reins on it; now it's matching lawsuits and a huge delay. But robust funding could have overcome these difficulties, putting more resources at their disposal. And that robust funding would have been much more likely if the share price hadn't been beaten into the ground by negative market influences. So yes, I'm saying share price is a root cause for the current situation. Not the only one, but one of several huge contributing factors.
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Dude......bro.......I’m not talking about share price....shorts didn’t drive the company bankrupt with no product to sell. Whenever these jag offs needed money it was there for them. Don’t tell me it was shorts that caused this. Are you even being serious or just deflecting?
A big part of it is that we still get crushed by shorts. HC posted this link last night:
https://fintel.io/ss/us/tmdi
(Thanks HC, BTW...)
So we had a couple days of single-digit short activity, and climbed up out of the 40s. Yesterday, over 26% short activity, and here we go...
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Can anyone posit to me how this company ended up in this position?
I continue to fail to grasp it. I understand that it may be a very difficult undertaking to design, develop, and bring to market an FDA approved surgical robot that does either a better job or is more cost effective than a current competitor.
I get that 100%.
But how, despite having all these resources are their disposal, all the time and money in the world, and being surrounded by all these surgical advisors, engineers, and business savy individuals, does this end up as a failure?
How the F does that happen? Is it really incompetence? Criminal negligence? Were they deceived by their developer? Bad advice from the advisors? 10 YEARS of rinse and repeat....they seemingly NEVER learned from ANY of their mistakes. It is so incredibly infuriating.
Now DickNally says they need ANOTHER $100 million. What the F went wrong??
I sincerely believe I could of made this happen had I been the CEO and given the same resources.
I don't completely believe that one team is necessarily better than another at securing funding. I do believe that the current team had a better understanding than the prior team of what is required to get a medical device to the market.
But my questions (re-stated below) aren't who is better; my questions are "What can they do?" and "What actions can they take?" (which is really a re-statement of "What can they do?" but tries to drive home the point of the question). Instead, people seem to want to answer a different question, one that I did not ask, and one which allows people to cast blame and point fingers, rather than propose solutions. I'm looking for solutions, specific actions which any team, new or old, could do to fix this situation.
Original questions, verbatim:
What do you think new blood can do differently? What specific actions can they take to secure funding for a company whose stock is so strongly suppressed by rapid-turnover investors?
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There is a reason for the rapid turnover. No?
Well it's due to managements mess with all factors of this company - hence new blood would "possibly" be a better ensemble to obtain funding.
Not sure why you don't see that... I'm pretty sure you would acknowledge that the old blood killed funding, so now what are you getting at.
You really believe the old blood gets funding, and new doesn't. Why?
Well then, let me ask a different question...
What do you think new blood can do differently? What specific actions can they take to secure funding for a company whose stock is so strongly suppressed by rapid-turnover investors?
(Oops... sorry, that's the same question which still hasn't been answered.)
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Hey some of it might be due to rapid turnover investors, but the real reason is incompetence by management to put together a Robot that is ready to be manufactured, and used in the medical industry. Along with their inability to properly finance their R&D - poor decisions, missed timelines, probably too many misleading statements (I won't say lies yet) to SPORT's attributes - on and on.
Management is the reason - McNally has made money as an employee regardless of his poor decisions, and he showed no interest in investing in SPORT (with insider trading issues aside). I just hope SPORT is not dead, and the technology does not get old quickly. They need to sell, partnership (but there appears to be no interest there).........what a mess McNally and team made this into so far.. Wish I turned over my shares......yuck
HC, what do you think new blood can do differently? What specific actions can they take to secure funding for a company whose stock is so strongly suppressed by rapid-turnover investors?
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Captain Obvious here...worth a repost IMO:
.....
I could surely see a house cleaning before a mega run to get options in the money with new blood. Not over quite yet folks. I actually think Helens will do the right thing this time - I am 67% confident of that ! GLTA
I have no idea where you got that idea from. I pasted in a paragraph from the short form prospectus; I did not share an opinion about it. I pointed out that it did not specify whether the vendor in question was working on hardware or software.
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know Urologists Thursday, 11/07/19 03:07:47 PM
Re: 66Mustang post# 100066
Post # 100117 of 100149
So Mustang you're saying it's a buy, scooop or go all in. Hahahaha
It didn't specify software or hardware...
From the latest short form prospectus:
On October 24, 2019, the Company was served with a summons for civil action by the Service Provider, indicating
that the Service Provider has initiated a civil claim against the Company in the United States (the “Civil Claim”).
The Civil Claim alleges that the Company has not paid the amounts owed under several invoices and the claim
further alleges that the invoices total approximately US $5.0 million. The Company disputes the allegations set out
in the Civil Claim and has engaged legal counsel to defend against them. Specifically, the Company intends to assert
numerous defenses to the Service Provider’s claims, including that i) the Service Provider rendered services that
were not required or requested by the Company, and ii) the services that were rendered by the Service Provider were
not rendered in a manner compliant with the quality standards established in the contract between the Company and
the Service Provider. In addition, the Company intends to assert counterclaims for damages against the Service
Provider based on the Service Provider’s failure to comply with its obligations under the parties’ agreements.
Although the outcome of the Civil Claim cannot be predicted, at a minimum, the Company does not expect that it
will be responsible for the amounts set out in the Civil Claim.
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Thanks.
You may be the first person who is perhaps shedding some light on the content of the lawsuit(s). So are you saying that the software work done was ahead of contractual obligations? That is interesting. Have you read the content of the allegations? No one here knows the content because unraveling that mystery requires more funding.
My guess was that they were dealing with flawed software! If that is not the case and then, I may override my rational brain someday and buy the stock to feed my irrational brain that is attracted to solving mysteries of this robot and its groupies if it happens to survive the odds.
Do you think that someone in Titan's marketing department can call Blackberry to see if they can partner with it to revive it. This robot needs a fixer.
We were delayed previously by about a year, and now by a few extra months. About the time Mr. McNally announced Titan's first delay under his watch, Medtronic also announced a delay, with an estimate of about a year delay. Now it's a year later, and MDT showed off their system and said it's still another two years away. So from the time of Titan's first delay announcement, we're out an extra 18 months, but Medtronic is out by an extra three years!
What, in this industry, is more stable and normal than Medtronic? Not much.
So Titan's delay is only half of Medtronic's cumulative delay since that same point in time. Congratulations to Titan are in order for cutting the industry standard slippage in half!
I wonder if MDT's message board is full of daily thrashings for their schedule slip. I doubt it. MDT investors probably griped for a day or two and then accepted that it is a normal part of doing business in this industry, like big boys and girls might tend to do in a forum of mature contributors.
All just my opinion again, of course.
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They have frozen it and what I see is regular type milestones as most companies have. I don't believe that any delay in achieving milestones is about lying. That is the best optimistic estimate. Those that have to to do the work and deliver could not do it on time because there was a glitch or blah blah. It happens all the time.
That is why a lot of contracts are delayed. Things fail to be finished on time all the time and that is why there are penalty clauses in some contracts. You know what, companies avoid contracts with penalties all the time too.
Here in my neck of the woods, even paving roads get delayed!
Change at the top would kill us. Instability and vulnerability if any of the big names leaves, except possibly for one who seems to have set us down a Rock-y road of finances. May need one or even two more raises if they can't get warrants in the money. Very obvious price manipulation going on somewhere; how many days have we traded high all day then drop in the last 15 minutes? Very common lately. We are still way too far from reverse split territory. Trixie has 250M shares out there! (at 45 cents... let's hope we can stay above that.)
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I would like to hear from die-hard longs like Big T and Taco as well as more level-headed posters like Stang, Flendy, and IITF... at what point must change occur at the top ? How many more times are they going to fund raise at ridiculously low price levels ? Fully diluted after this one is in that 96-100M o/s range. Next another reverse split will soon be discussed. It HAS TO STOP
They are giving this company away people. Put the damn bot out and make upgrades once the first generation sells. You can't chase perfection. Get it DONE
Dawgtrader web site says 911 shares is a market maker signal for news/press release pending.
https://dawgtrading.com/dt-blog/653-market-maker-signals
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Premarket 911 3x on the board!!
Somethings going on today.
Aye, Captain... Fair question. And the short answer is no, but I shall elaborate, as I sometimes do.
I am not "as optimistic" as I once was. All my opinion on this page, of course, but...
They once had killer technology and a highly advantageous timeline in which they could have been second to market in general robotic surgery (Trixie never really counted in my book; no OR can realistically give up that much space). All they needed to do was a "quick" (12 to 14 month) re-design to add redundancies and manufacturability goals and meet the then-new Human Factors Engineering guidelines (which bit Trixie in the backside with their offering #2), then regulatory clearances.
They still have the killer technology, with a few new features and some parts now substantially re-designed; mostly worthwhile upgrades to the design but leaving investors scratching their heads, wondering why they couldn't have rolled out upgrades to fielded units instead of delaying release for two years.
Meanwhile, ISRG put their SP on the market. Okay, enough hospitals despise ISRG that they would love to deal with someone else, maybe a newcomer who would bend over backwards to please their customers, or maybe a well-established company just entering the robotic surgery market. But SP is something patients want. It's much like 18 years ago when prostate patients said "It's gotta come out, but I want it out with that robotic so I can still have sex." Except now it's "I need my gall bladder out, but I don't want a handful of scars there for the rest of my life." SP is a winner, regardless of who's SP it is.
A little more fast forward, and Medtronic and Verb show off their latest creations. Both are multiport systems, when patients want single port. Why would companies with billions of development dollars availabile not develop something that the end custmer actually wants? It worked for ISRG 20 years ago. Are these competitors relying on ISRG's old lapsed patent portfolio? Does this mean ISRG and Titan have sufficient IP protection that everyone else is effectively blocked from SP for general/abdominal surgery for the next ten years? Maybe... TBD, of course. But these big names carry a lot of weight. Medtronic will sell a fair number of multiport systems because they have a big name and a big market presence in surgery in general - coupled with the common disdain for ISRG and their traditional heavy-handed business strategy. The viable alternatives will have some success. But MDT indicated they are about 2 years away from the market, and the Verb system has no such indication, and looks suspiciously like marketing information (not legal for an unapproved medical device in the US - was it leaked? How did this get out?). Given the dearth of information in public filings, it is not unreasonable to assume that Verb is also at least two years from their first sale.
Titan, as a viable alternative and having the patient-preferred technology, still has a great future ahead of it. Previously, my level of optimism included factors like market opportunity and the prospect of another 50- to 100-bagger investment (I bought ISRG in 2003 for $11.65 - wish I had second-mortgaged my house if I had any idea just how well it would do). The Titan delays have been heartbreaking and bank-busting. Shorters have held our share price down in the weeds, so subsequent raises have caused crippling dilution, and larger investors are scared because of our share price history - a vicious cycle. A 100-bagger for me? No longer possible, despite averaging down at every opportunity while trying to maintain my ownership percentage(currently 0.155% of the outstanding shares are mine). A newbie buying today for $1.10 a share? Stands to reap a great ROI in a while. Me? If I only get a ten-X on this, I still retire very happy. A 20x to 50x are not out of the question, but as dilution keeps ramping up, my profit factor keeps ramping down.
We need REAL NEWS and REAL FAST to get our share price up... I don't see it happening. FDA IDE approval? It is huge news; it means the FDA is sufficiently satisfied with safety, preliminary efficacy, meeting Human Factors Engineering guidelines, etc. It means we meet 90% of the eventual clearance criteria. But 75% of IDE filings are denied first time (usually FDA wants supplemental info). Notice Titan says we file in October and get approval in December, despite a 30-day approval cycle by FDA? We have the first rejection built into our schedule. It is normal and expected, and our team has planned appropriately for it. But when (and if) the initial rejection hits, I'm guessing our PPS will get crushed even further. I finally set a little money aside for when this happens - I wouldn't be surprised to see 50 to 60 cents. Then we get the IDE approval, and rebound back to maybe just under a buck... Market cap for a ground-breaking multi-billion-dollar-market device that got IDE approval should be at a minimum in the $500M to $1.5B range.
Confidence level for success? I'd say somewhere in the 80+% range, regardless of buyout or go it alone - at this point, I'd prefer the buyout just to get it over with, but a Titan solo performance would probably provide higher eventual yields on our investments. I don't need this level of stress in my life any more! Buyout gets it over with, and I can take the money and run. A Titan solo act drags this out for another 3 to 5 years. Three years ago, I had time to wait for that. Now...
Optimism? Yes, I remain optimistic. I believe we have the goods. I believe my investment will get me to an early retirement, just not as early as it should/could have. And every additional round of dilution reduces my optimism further as a linear relationship to how badly it reduces my eventual ROI.
Is it a no-brainer? It never was. But with every dark turn this seems to have taken, there is a little more light shining through the cracks, like newcomers who are developing outdated technologies to "compete." Each of these new unveilings is potential competition for a bidding war, especially given the lukewarm reception at best for Medtronic's system. The market knows where the future is at, and that has to have been a big awakening for MDT management. Fingers crossed... but I have learned that nothing is a slam dunk with Titan.
Reply to:
cptjsd Wednesday, 10/09/19 12:47:35 AM
Re: 66Mustang post# 97848
Post #97881 of 97884
Mustang...serious question. Are you still as optimistic about this investment as you have been in the past? I was at one time a cheerleader, believed in this company and “saw the light”. After years AND years of changing timelines and disappointment...I lost faith and saw other investors over the years lose their confidence and change their tune on Titan. Where is your head at regarding this investment? Is this still a no-brainer to you?
You were complaining about the "MB Venture Partners thing" and Mr. Federico's involvement. I was merely offering potential explanations. I was not worried about it at all; just trying to help a fellow iHubber... because it seemed you were actually the one worried about it!
Message in reply to:
What stopped JH from employing Paige ? Nobody said a word about that
What stopped Titan from a cost estimate miss of almost $14M ?
** But you worry about THIS ? Ok then
Honeycomb777 Tuesday, 10/08/19 02:02:22 PM
Re: None
Post #97844 of 97847
Kind of surprised to get crickets about this entire MB Venture Partners thing. Yes folks - Federico is/was affiliated with this TN-based VC firm that invests in startups in the life sciences / medical device arena.
Seems odd that our Chairman conveniently has an "in" with these guys. At least it is uncovered and out there for all to study/explore. Who could use some money ?? (sigh)
https://www.crunchbase.com/person/charlie-federico
Maybe the "in" represents a conflict of interest. Or some by-laws that prevent the organization from investing in a company that one of their own is involved in - certainly would be a heap of Clintonian impropriety if they were doing so!
Message in reply to:
Kind of surprised to get crickets about this entire MB Venture Partners thing. Yes folks - Federico is/was affiliated with this TN-based VC firm that invests in startups in the life sciences / medical device arena.
Seems odd that our Chairman conveniently has an "in" with these guys. At least it is uncovered and out there for all to study/explore. Who could use some money ?? (sigh)
That is still different than "Capital Price." And the Device Price Parity seems (to me) to mean purchase price of the system...
If they meant Operating Expenses, they should have said so.
Titan was up front about expected costs for the system as well as supplies, operating expenses, service contracts, etc.
I suppose we are all just guessing at this point if there is no standard definition to the specific term "Capital Price" as it might pertain to this situation. Maybe that's what Verb was counting on!
Reply to:
elMoose Tuesday, 10/08/19 01:14:23 PM
Re: 66Mustang post# 97836
Post #97839 of 97840
Capital expense if just the cost of device excluding the operating expenses.
So they are saying that ISRG's device is a lot more expensive for the same functionality. The operating expenses are not included and that is the cost of consumables etc. That operating expense is function of disposable devices and number of people that need to be employed to work the device and whole bunch of other costs that are device specific.
https://www.investopedia.com/ask/answers/042415/what-difference-between-operating-expense-and-capital-expense.asp
Capital Price must pertain to what the customer will pay for it; costs are internal to the manufacturer; price is external. Obviously they are manipulating numbers somehow to make the value proposition appear attractive, but some of us may have the wherewithal to ask "What the hell is that supposed to mean?"
It (Capital Price) doesn't come up in a search as being any substantially standard Accounting/Finance term. To me, they are saying to the hospital community, "Prepare to be manipulated!"
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Means device will cost around what the da Vinci does but for every unit sold, the profit margin will be far greater because it costs less to make ! Maybe they will project some of that profit into buying a SP device as well and really give ISRG a run for their money ?? Less scaring is preferred to more, especially with female patients. SP does that
That last line:
Capital Price: $850k (-40% less than Da Vinci Xi) Device Price: Parity with Da Vinci Xi
Can anyone shed some light on the difference between "Capital Price" and "Device Price"?
I found a definition:
capital expense (CAPEX) is an expense a business incurs to create a benefit in the future.
Maybe they are saying that the cost is the same but the benefit it is intended to create in the future will offset about a million dollars of purchase price (Device price), leaving the "Capital Price" of $850K?
If that is the case, does this imply that da Vinci Xi makes no actual profit for a hospital after all expenses are considered, and the 40% savings are therefore post-purchase savings?
I'm obviously just guessing here... but if anyone knows, please feel free to offer viable information.
Would be nice to know what other competitors are expecting to be doing.
Also, does their multi-arm approach hint that maybe ISRG and Titan have sufficient patent protection on single port to prevent direct competition for another ten years? All the newbies are showing off multi-port offerings; many of those patents (from early ISRG and Computer Motion) have expired and are fair game for competition.
My apologies! I forgot about that one!
Maybe now we need one that isn't quite as forgettable!
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There was a letter to the shareholders that provided a mid year update on 23 July 2019.
Just catching up...
Lots of complaints here about no information, and then one post saying we don't want another shareholder letter... BTW, the last one was three years ago; it never happened under this management team. And I disagree; I do want another shareholder letter.
I wrote to Mr. McNally last week, and in the midst of this information drought, I asked if they might consider issuing an updated letter to shareholders, possibly in the fashion of Mr. Barker's letter three years ago. I have a friend who also communicates with Titan management much more frequently that I do, and suggested that any replies could be channeled through this friend. Mr. McNally's subsequent communication to my friend indicated that they do plan to issue a letter to shareholders some time after the raise is closed. I don't know the range of the information to be provided or the extent to which it may help allay investor fears, but if they are indeed on the right track, I expect the letter to be uplifting if not merely informative. I would expect that if it does happen, it would probably take at least a week or so to formulate a reasonable piece of communications and get reviewed by the executive suite, then another week or two to get through legal and regulatory reviews. I'm hoping to see something by the end of the month (if the whole idea doesn't fall by the wayside before it comes to fruition).
Also, it was reported that there were no issues filling the raise; they are just waiting for the Ontario Securities Commission to finish the approvals. I think someone else here had reported the Mr. Randall indicated it should be closed by the end of this week.
The docs said Q4 for IDE application, but I thought it called out December somewhere for anticipated approval. 30 day limit on approval process, so I would guess they most likely are filing the IDE app in November.
December should be the big month...
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Their documents mention Q4 and so it can be any period within there.
I'm trying to scoop at a buck even but it isn't filling...
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Anyone else think we should sell at 1.01 and scooooop back at .70 cents?
My apologies Moose, I assumed you meant we would get cut out of the picture... which would suck.
But as a non-publicly traded company, how would the stock be valued moving forward?
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The shareholders can retain their investment. The stock will no longer be listed in public markets.
If Titan went private, they will have stolen from all the long shareholders who currently still have a chance of getting their investment back with some profit. But to do so, they need to buy out the outstanding shares, presumably at market price; they don't have the cash kicking around to do that... If they did, they would just cruise across the finish line on that money. They can't afford to go private; to suggest it is only detrimental to the situation.
But yes, the shorts would need to find new victims.
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IF TITAN GOES PRIVATE - no more stealing from investors by the shorts
I thought Avra was doing plastic/cosmetic surgery and claim it's an 8.X billion dollar market. No competition with Titan, so might be worth keeping an eye on. Is anyone else competing in robotic plastic surgery?
Mharb, the Aspire info was in previous Press Releases, under the same Investors tab (prospectus was sort of a business update as part of the filing package for the raise). I think Titan knew what they were signing with Aspire, and the restrictions on stock ownership are fairly prohibitive; I think it is intended to be used in smaller chunks as an occasional stopgap measure, sort of an insurance policy for the possible lean financial times. It is quite clear that this is for small chuns at a time, but some people here want you to believe they got all $35M at once and already pissed through it. They got a couple million. HC has actually been pretty good about providing some of those numbers shortly after it happened.
My take: December is about when this current round of financing gets burned. With a couple significant announcements to back things up (ISO 13485, IDE approval, IRB initiation, etc.) we could start seeing some of the low-$ warrants some into play, and we also could be tapping Aspire for another small infusion around that time. Hopefully these announcements will bring share price up enough that the next round of financing won't be so painfully dilutive!
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66...i hear you. and i respect your opinions and posts. you don't seem to "pump" and are pretty clearly pro-success of Titan as am I. why would anyone want to see the company fail is beyond me.
that being said, the prospectus doesn't mention anything about aspire as far as I could tell when i skimmed through it. did i miss something?