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The one thing I will give credit to Titan management for is they are not frauds. They may be financially challenged, but not frauds. They have expressed to me a couple times about doing everything by the book. Last conversation he went out of his way to make a point about this, including dealings with the FDA and other entities. Looking back, it makes me wonder if they knew something, or had suspicions about the other company.
Someone asked about taking on debt. I actually agree that this wouldn't be a bad idea at this late stage of the game (wouldn't be for it early in the process). Don't think Titan will consider it. Specifically asked them about this and they said going to the markets and raising funds (i.e offerings) is just the best option for development companies.
GLTA
The way I'm staying sane through all of this is reminding myself of Titan's intrinsic value. What's the worst possible scenario? Not enough money to go to market, more delays (FDA), etc. I believe Titan has at least $1 value if everything goes to crap. With there patents, finished product, years and years of research, etc.
Get your avg price to 1$ or below and worst case is pretty much even money.
However, i believe all of this will be a moot point in about 1-6 months.
Turn your computers off and hug your family. Kind of lame, but nothing else we can do about it. Buy, sell, or hold. Although a few F-bombs really feel pretty good.
I'm more worried about a crap super bowl. Seriously, Panthers and Denver!! I'd rather fiddle around on TRXC's board then watch that.
GLTA
Shocker...Well I guess HC got his wish. I do think he has a point in getting rid of all potential road blocks by Sages. Let SPORT speak for itself, and hope they don't hold back on the dog and pony show.
On the bright side, probably one of the last times to buy some shares on sale.
Very curious to see how much they raise. 15-20 would be fine by me. Then we can get the remaining 30 mil from warrants down the road. Anything to minimize this crazy dilution.
GLTA
I posted in December after my conversation with Randall that they are purposely being VERY over cautious with regards to regulations, rules, etc. Yesterdays release falls in line with what he conveyed.
Personally I think it was kind of lame and unnecessary, but then again I'm just some putz on a random message board...I'm not involved in bringing a potentially multi billion dollar state of the art technology to the world.
GLTA
My question is, why didn't TRXC have to come out with a statement saying nothing material, etc, etc is going on within the company?
Slightly bummed at the close, but considering TITXF did come out and say nothing is going on behind the scenes I'm surprised we stayed green.
The rest of the week will be interesting. Do we trickle back down now that "nothing" immediate is going on? For now, i'm praying for "any" green tomorrow. I will take .01. Sub $1 is a joke and we need to start building a higher base. Too much legit progress going on to be floundering in the abyss.
GLTA
yes...It's almost like they are trying to keep the stock down. Sure came out in a hurry to say this...hmmm
http://finance.yahoo.com/news/titan-medical-inc-corporate-182349628.html
Corp Update - Why even come out and say anything at all? Doesn't make any sense.
First time ever I have not wanted them to release any news. 50/50 the next announcement from the company will be about financing.
First time ever I have not wanted them to release any news. 50/50 the next announcement from the company will be about financing.
Side note, the potential IP issue concerns me a little. However, if your Intuitive wouldn't you rather gobble up the company that will help you immensely with market expansion, instead of getting bogged down in an expensive, time consuming, most likely losing proposition?
Unfortunately, that company is run by pricks and pride would probably prevail.
I would not be surprised to see mgmt take advantage of this "pop" and go to the shelf. Basically waiting for the announcement. Your right, we've seen this movie before.
I would gladly be wrong here, but that is my suspicion. However, there is a lot of reason for optimism and it could be flying on its own merits. Maybe the rumor starters got it wrong and it was actually Titan getting bought. I hope we don't get bought this soon. 6 months down the road (after several more milestones achieved) we will command a higher buyout price.
With that said I really want us to get bought out regardless. I do not want to have to make the decision to sell at 10, 15, 20, etc. I hope the decision is made for me. It would take away all the stress, second guessing, etc.
For now, let this baby run and see if we can get some warrant money. Give it a chance before hitting the shelf.
GLTA
The volume today is worth noting. If we can get above 500k before market close that would be significant. Not sure we will.
A PR piece now would do wonders to continue and solidify this momentum. However, assuming they are keeping every trick up there sleeve for Sages.
Any thoughts on a design freeze announcement soon?
Really hope they don't pull the rug out from under us with another small shelf transaction. Let her run a little bit. They are on record saying cash from warrants is/was one of there main objectives. This was a while back, but very clear from mgmt.
Could be a delayed reaction from last weeks investor meeting. Word of mouth finally getting around. That along people finally getting a clue and realizing this is an offensive pps considering we have a completed unit, etc, etc.
GLTA
Exactly. I was hoping one of you still had your secret decoder ring.
Emailed JH about Sages and the AORN. Asked if Titan will have the actual unit in the booth, or will they be giving private demonstrations? Also asked about the reasoning behind going to AORN (considering its mainly nurses, etc). He did respond with the following, although not much to work with:
"Q1—yes and Q2—Very important meeting as we address one of the primary decision making groups in medical device decision making. Validated by other professional organizations, major medical device companies, recent evolution of decision making teams/leaders and continued migration of surgeons leaving private practice and becoming employees of hospitals.
Respectfully,"
In his defense, i didn't expect to get too much from an email. Too risky putting stuff in writing.
In case anyone from Titan is reading this, I would not forward company info verbatim if it was given to me in confidence. This is just general info.
GLTA
We have a completed unit, CE approval process starting in a few months, exhibiting at Sages and AORN, fast growing market, obvious potential buyout candidate, and a good chance of real sales (international) coming by the end of year and were sitting at a 52 week low. Makes sense to me...
I get the looming dilution risk, but it's not like they found e-coli in SPORT. I'm close to pulling a Costanza here and just doing the opposite and opening a short position.
GLTA
With all of these huge companies in healthcare, tech, etc now jockeying for position in the robotic space I find it hard to believe that Titan hasn't been approached. Why would you not want to get a leg up on the next guy? All it would take is parting with a little petty cash (a few billion of course). A quick stroke of the pen and you've gained years of research, engineering, patents, etc, etc. Let alone your getting the next best/exciting technology out there.
One or two more major milestones and I will find it hard to believe that no one will try and scoop us up. Of course i really feel mgmt wants to go it alone. However I'm assuming it is becoming obvious to Titan that going solo is at best a dubious task.
By the way, I can't believe I might actually be able to use some tax return $ to pick up some severally discounted shares. Never even crossed my mind a few months ago when I ran some proactive tax numbers. It's still a little too early to thank anybody, but if it's still around $.75 in another month or two I will be backing up the truck.
GLTA
Spoke with Randall yesterday. As usual he is pretty accessible. Called in the morning and he got back to me in the afternoon. Nothing earth shattering to report, but here are some of the takeaways:
Asked about the share price and he attributes it a lot to end of year tax selling and just this time of year. People mailing it in for the year. When pressed about the shelf, he said that might play a small part as well. Although, he did state that Titan has had a base shelf for 3-4 years. In any case he seems optimistic re: pps going into Jan/Feb. At some point people will realize we actually have a completed product. Also appeared that they are a little surprised/frustrated at the pps as well.
Asked about partnerships, other financing options, etc. He understands the shelf is not ideal, and they are willing to entertain all sorts of offers. However, it has got to be a good deal. They will not give the store away. They know what they have. He half jokingly said as a development company "we raise money and then spend it."
Got a sense of urgency throughout the call of getting the product out there. Don't know if this is because of competition, but he stressed this a couple of times. Asked if it is possible to have there first sale in 2016. it is certainly possible, however regulatory measures must be met. A big "no no" to sell without these. Urgency is there, but definitely playing by the book.
All but confirmed all milestones are still on track. Fowler and mgmt working with regulatory, FDA along the way. Should help with the process. Most of us know this, but it was the FDA who encouraged them for multiple applications. They are on track to file for CE in July. Hoping it is around a 3 month process.
Most interesting is that it was quite clear he (and possibly a few others) are not pleased with Bertner. May address this in some way in Jan or Feb.
Wish i had more details, but overall a good call.
Merry Christmas all...
What I don't get is that the pps is acting like they went to the shelf for the entire 40-50 million. They only got 10 mil, yet the pps is way overreacting to the downside for such a small amount. What would the pps have done if they went for the entire 40-50 mil? .20 cents?? It doesn't make any sense.
I assume the market is proactively factoring in the 40-50 mil already. It is basically a done deal they will have to go back to the shelf.
Btw, the RSI is so ridiculous now it's almost comical.
I say we start shorting TITXF...let's actually use this bizarro world to our advantage.
GLTA
I'm starting to convince myself that Titan has been approached (several times) for either a partnership and/or buyout, but has turned them down. They are either very set on going it alone, or asking way too much. There egos are big part of this...right or wrong.
I know many on here think it is too soon for someone to approach them for a buyout because we do not have a finished product, and no CE or FDA approval, etc. Valid points, but this market is clearly growing and getting more and more crowded. The easiest option for a deep pocketed company is to save several years of R & D, money, etc and just buy someone with promising technology.
Pride might be our biggest obstacle right now. I think the current pps has surprised them as well. It seems mgmt continues to pick the wrong bottom. Earlier in the year Hargrove and Reiza picked up some shares around a $1.25. Then under a buck more recently. Sorry mgmt, but you keep picking the wrong bottom. Do something about it. Your precious, game changing technology isn't going to sell itself.
GLTA
Agreed. Can't say I'm necessarily happy with the recent developments. However, what is glaring to me is the validation (yet again) that these monster companies are giving robotic surgery and it's future. They basically gave Titan a stamp of approval with there focus and applications. Titan is certainly on the right path at the right time.
Yes these guys have the resources, but there going to have to jump through the same hoops, and deal with there own set backs, etc that Titan has. Yet, we have a head start...
Btw, there are so many deep pocketed companies out there that can buy Titan. Both domestically and internationally. If were on track mid to late next year Titan WILL be on several companies radar. It's all about growth. Many large companies are struggling to grow organically, so they buy companies to fill this void.
GLTA
Ironic that the PPS does better when the company says/releases nothing.
He's an Intuitive guy. He's also Chief Robotic Surgeon at Lenox Hill Hosp in NY. It's a small community. I guarantee he is up to date on any competition, advancements, new technology, etc. I would also bet he knows more on Titan than all of us. Fowler is an acquaintance of his.
I reached out to Dr. Samadi exactly a year ago. I asked him about his thoughts on Titan and he replied, "Yes I know Titan. Has not panned out to be clinically significant."
He didn't bash them, but didn't have much to say about them either. I would be curious if his view has changed over the past year based off of the "progress" Titan has made.
I feel like I've been on the flight from hell. Titan mgmt are the pilots. They can't seem to get us out of the turbulence, but were still making headway. We'll end up at our destination, but plenty of nausea and vomiting along the way.
I have to believe that future financing is holding this thing down. It's a huge bummer because today's announcement is a BIG deal. Probably the most positive development/news we've had in a long time...if ever. We still have a ways before any sales/$ start coming in (unless a buyout/partnership, etc.) We still need cash and people might be holding off regardless of great news. Why buy now when a potential dilution is coming. Warrants are not looking good either.
I don't know, maybe Zuckerberg can throw some of that fortune Titan's way. It would help humanity, which fits his criteria.
Anyway, i couldn't help but buy a little more this morning. Thanks whoever you are for keeping this down for me today.
Thanks Adrock. Hadn't had my coffee when i initially read it.
Seeing any red today is an absolute joke. Especially when your hovering sub $1. A very positive step today. My only question is weren't they supposed to be completing two units? I could very easily be missing something here, but just wondering.
Keep your fingers crossed, with any luck we could hit $.50 after CE Mark and FDA approval. The bizarro world continues to grow and grow.
I have to say it's been nice to have this steady stream of news the past few weeks. Although I'm wondering if mgmt strategically planned to release all of this news before Dec warrants expired hoping/counting on a pps surge. This may have blown up in there face and consequently left them to panhandle for more cash sooner than later.
GLTA
Agreed...they might as well have released the news in the middle of the forest.
The prospect of another financing or two will continue to be a weight around the PPS, at least short term. I agree with most that shipping/unveiling a couple units will do wonders with credibility, confidence in "mgmt", and confirm that Titan actually has a real life robot. Never has so much been talked about regarding a robot we have yet to see...i mean really see.
As unconventional as this road has been, I feel we are finally making a little headway. Again, why would the folks at Cadence make a deal with a company without a product, or for that matter with a crap product? Why would Longtai do the same? What company is going to sign on the dotted line without seeing the product, or at worst getting full disclosure. What have 50 engineers at Xi been working on all this time. Titan has something, and I'm starting to question why in the hell I only have 13,000 shares...
GLTA
At least they released the news on a Thursday and not after market on a Friday...baby steps.
I think it is great news! However, I won't be surprised in the least if the PPS doesn't care. We need an act of God to get this thing moving. Plus the possibility of more financing hanging over our head doesn't help.
Nonetheless, it confirms the company still has a heartbeat.
GLTA
Hey CUIN. Doing well, except not sure whether to laugh or cry here. Still enjoy reading your posts as well as others on here. Amazing what has transpired with this company over the years. It's sad when I could have been hired as CEO and produced the same results.
I think someone needs to call Reiza and remind him how many shares of Titan he has. Tell him pps up = super yacht, down = dingy
GLTA
Well the good thing with all of this is it should all be done in the next 3-6 months. It should be clear then where Titan stands and if its worth sticking around. Another delay, or more BS from mgmt I think many will be heading for the exits. Hard to believe 5 years ago I could have done a little better investing in a CD.
Despite the misery of late, I can't seem to shake a few thoughts. If your Longtai, why invest millions in a crap/fraudluent company? If your a reputable company like Ximed. why have 50 engineers (wasting 1,000's of man hours) working on a bogus project. Why if your SAIL waste your time as a training facility for some new garbage product. Why for years would Dr. Fowler put his reputation on the line for this entire sh*t show?
Lots of questions, and no real answers...
GLTA
I usually enjoy reading all of the speculation on here, but a volume spike is the only sure sign of something actually going on. Unfortunately schmucks like us are the last to know. Always has been, always will be. If there was a sliver of truth behind Suckits claims the volume would be over a mil easy. It's impossible to keep any major announcements under wraps.
To be fair to Titan, they told us at the beginning of the year exactly what to expect. Q1 and Q4 milestones. That is it. Other than that the milestones all but told us it was going to be a quiet year.
Could have saved a lot of frustration and headaches by actually listening to the company.
Excited for the next few months (and 2016). Hoping to see that volume start to creep up soon.
GLTA
The RSI fell to 25, which is completely ridiculous. I was hoping the FDA meeting had something to do with this little bounce, but the volume says otherwise. Need to be above 300-400k at least to warrant a catalyst (although we still have a couple hours today). Technical, and a sliver of relief or elimination of the financing unknown helping todays move...IMHO
I think had we all taken the milestone timeline presented early on seriously, we could have saved ourselves a lot of headaches and stress (Honeycomb was one of the few). Although we hoped differently (myself included), we should have taken them at there word not to expect anything of significance in between Q1 and Q4.
With that in mind, a company still needs to adapt and answer to shareholders as things change throughout the year...regardless of what they presented. We are basically limping into Q4. However, I think we get a much clearer picture in a few months. They can't stay silent and non-transparent forever...right?
GLTA
Could it be that Titan had a crappy deal, partnership, etc on the table and made this move as leverage? Basically, screw you. We'll keep going it alone if this is the type of offer(s) were getting.
Either way, I guess it gives them some flexibility. However, I just assume approach there financing situation like a band-aid...yank it and get it over with!
Not a fan of the uncertainty going forward with regards to $, but at the end of the day there technology is still on track, the SAB is still there, Xi is still working on SPORT, Fowler is still there... and most importantly our fearless leader Hargrove is still there :(
Just announce the financing deal already and let's move on. I find it hard to believe it's anything else. I doubt it's just pure technicals. Too big a downward move and volume without any substantial news.
The only other thing it could be is something like Reiza or Fowler leaving (which I don't see at all). It's not product related because they recently affirmed everything is on track (they have moron tendencies, but not that bad/foolish).
So again, please just get it over with so we can digest and act accordingly.
GLTA
I'm in Bus Dev for a med device company. Patient monitoring/pulse ox mainly in hospitals, but also working the past few years in the CRO/pharma world in phase 1 studies, etc.
Me too.. I work in the CRO world and am very curious who it is. Getting locked in and moving forward here will be another nice step.
The pps is not going anywhere until additional financing is addressed. Yes, a lot of people don't know about Titan outside of us and some in the med public, but this unknown trumps anything else right now, IMO. Although I do believe we are not as under the radar as much as some suggest. If/when this picture becomes a little clearer the climb will begin
Even if we get some nice news/updates (video, etc) we'll see a brief pop and then settle back down to these levels. Someone recently mentioned it, but not only is the way they go about getting financing important, but they better make it a big one. If it looks like they might have to go back again next year then we'll continue to be stuck in the mud. We've seen how well it's worked out for TRXC. One more time and be done with it.
I do find it interesting that financing does not seem to bother mgmt at all. It even seems in these AGM's that it wouldn't even be addressed if it weren't for people asking them. It appears like it's 18th on the important list.
I don't know if they are being too cavalier and we should be worried, or they know exactly what there going to do with regards to additional funding. I think it is the latter. I know if it was me and we had just 6 months to go before being tapped out I would be stressing. I wouldn't be surprised if they already have an investor(s) lined up. That last 40 million or so was raised way too fast and quick.
Part of me thinks, heck if there not worried about it maybe I shouldn't be either.
GLTA
Not much into sarcasm, eh Bobby.
No spinning this one. Dilution will come. Randall told me last year that its "the cheapest option for financing".
Either way I'm seeing this thing through to the end. Five years in and still love the potential, even if at times it seems like the company is being run by Moe and Shemp.