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I believe they are stretching it out to ensure pps share stays above $1.
Excellent point. People have to realize that they are purchasing stock well below the BOD's option price. Bought some more this morning at 1.06. It is difficult to stay patient when you are clawing your way back. You just want to get to $2 to $3 so you can just take a deep breath and realize the worst is over and that your decision paid off.
TORONTO--(BUSINESS WIRE)--Titan Medical Inc. (“Titan” or “Titan Medical”) (TSX: TMD) (Nasdaq: TMDI), a medical device company focused on the design and development of single-port robotic surgical technologies, announces the appointment of Phillip L. McStotts, age 62, to the Company’s Board of Directors, effective immediately. As a financial expert with Certified Public Accountant (CPA) and Certified Global Management Accountant (CGMA) credentials, Mr. McStotts will also be a member of the Audit Committee of the Board of Directors.
Mr. McStotts is a successful entrepreneur with 30 years of experience in the medical device industry, having been a Chief Financial Officer in both public and private companies. He has co-founded start-up companies that have commercialized best-in-class surgical, life and organ support, diagnostic and home-care capital equipment and disposables. He has raised investment capital from institutional and retail investors, angel investors, venture capital, private equity, strategic partners, and a healthcare royalty fund. Mr. McStotts negotiated a reverse-merger into a public company and thereafter transitioned the company from the OTC to Nasdaq trading, and ultimately negotiated its sale to a strategic partner at significant premium to market.
“We are delighted to welcome Phillip to Titan’s Board and look forward to leveraging his capital markets experience, financial acuity, and industry knowledge,” said David McNally, Titan’s Chairman and Chief Executive Officer. “Building on the momentum of our recent success in executing the development and license agreements with Medtronic, the closing of our most recent financing, and settlement of pending litigation, we are excited to turn our attention to execution toward our milestones. I am confident that Phillip will be invaluable to us in many areas, including capital markets strategy, financial planning and oversight, corporate governance and human resource management.”
Would Titan want to announce the news on Medtronic buying the 18,000,000 in shares after hours so that the big boys can buy in after hours trading???
Me too!
Can you explain what you are saying to us newbies? How can the stock be held down to stay within the guidelines of the raise? Aren't people selling to average down on their pps? Who is holding the stock price down and why would they do so?
Just got the news regarding the lawsuit on my email. Thought I knew about it a few hours ago.People are just waking up to the news.
The buyout deal with Medtronic may have already been started. Perhaps Medtronic was in a position of power and demanded they buy the $18 million in stock as part of the partnership deal. If you are in a position of strength you get a deal. Just my opinion.
Absolutely incredible post.
INCREDIBLE POST!
Stryker was the main supplier of endoscopic equipment in our operating rooms. I am not sure that it matters which company is affiliated with Titan. Like I have thought all along, Titan BOD have been hiding things. I, like many others, was pretty angry and could not understand why they were doing so. I was down significantly but have battled back on my pps.
I have come to realize that ISRG and perhaps other companies(that are affiliated with ISRG) are watching ANY and ALL competitors for any information. If you had the monopoly on an industry and here come the competitors, I would be concerned as well. So I believe that is one of the many reasons the BOD are hiding things.
Perhaps Medtronic has been behind the scenes and did not want Titan to divulge who the endoscopic supplier was. And do we know who the disposables supplier is yet? There are a lot of things we do not know of who is involved behind the scenes. I do know they have multiple patents and they are not going anywhere. They are coming to market with a buyout or alone. Again, nobody wanted to buy ISRG when they were at $3 per share. Look at them now. Do you think ISRG would like them gone or want their patents? Absolutely.
So a long answer to a short question is announcing STORZ will be another notch in the belt. Announcing the disposable supplier will be another notch. I firmly believe this is a once in a lifetime opportunity and multiple announcements are going to be made but the BOD is holding back. There is a plan in place.
As soon as I saw your post, I looked up the stock symbol for STORZ. There isn't one. Damn it! Privately owned company. So much for buying some stock.
What else is Titan not telling us? Are you willing to sell you shares to make a few bucks? Unbelievable how you can sell your shares into a weekend.
I try to listen to the information presented on this forum and I appreciate the information I have received. I try to listen to what is said and sift through it. I listen to what the BOD is saying and I listen to what the BOD is not saying.
When I saw Titan had secured a loan from a medical supply company, I wondered why the name was not mentioned. Why wouldn't Titan drop the name? I realized they have a plan and always have had a plan. I really do not think pps is an issue for this BOD.
I followed a medical stock a few years ago(forget the name). Talks of FDA approval raised the pps. Then an article said FDA was not going to be approved. Stock tanked 90 to 95 percent. Two weeks later, news that the FDA reconsidered. Everyone backed up the truck and loaded up and made a fortune.
As for SPORT, I am sorry but when he sends me a private message as a moderator about doing fellatio on someone(and I am a guy and I am using polite language here), has been bashing other investors's decisions and removes posts that are not to his liking, he gets what he deserves. Karma is a B^%CH!
I bought more at 68 cents and 85 cents and remain determined to hold long term. It has only been 7 years. We can all wait a little longer. MZOR was bought out for $58.50 per share by Medtronic and that division(minimally invasive surgery) is projected to bring in $10.3 billion in revenue by 2023. Again, we can all wait a little longer.
Good luck to ALL us longs.
Did we get to a dollar today SPORT19? Help us out here. What was the close?
You are like a broken record. You are like a broken record. You are like a broken record. You are like a broken record.
Congratulations for you longs out there. This is just the beginning.
Congrats!! I had the same kind of day.
A lot of people had no idea what was happening even if they owned shares. Investors started learning lat in the morning. More people will learn tonight. Watch out tomorrow!!!
Of course. Profit taking. What did you expect?
Go away! Now you are shorting it.
What would you say a buyout price would be? I know it is difficult to predict but best guess?
Words of wisdom sir. Thank you for them.
And that raise will take an hour to fill.
You won't be working for long? Get your resignation letter ready.
Congratulation!!!!
Exactly. SPORT19 watches this like a hawk. Yet, he is nowhere to be found. Probably in coronavirus quarantine. Go Titan!!!
Because Titan knows what they have on their hands. They do not want to sell the entire farm.
Market is not open. How did you sell half your position?
Thank you for that PSA pumper. Really? Where have you been the last 7 years?
Whatever.
ABSOLUTELY!!!!!
Over 100 engineers working for Titan. Doing testing now. Froze the hardware design. Working on single port surgery for multiple years. Almost at the finished line. Multiple silent deals for end effectors, etc. Involved in multiple countries. Trying to get to the finish line with some financing. If investors believe Titan is going to just pack up their bags and say “Oh well. We gave it the old college try” they should not be investing in Titan or commenting on this board. Sorry. I am not drinking that Kool Aid. Holding strong. Everyone has an agenda. Even the nay sayers. Go Titan!!!
Fantastic post and a breath of fresh air from all the negative crap that is constantly posted here. Agree totally. Holding strong and waiting it out. I believe they get bought out and I agree Medtronic is that company.
Every time there is a PR announcement with good news, the stock drops.
Totally agree with you DRG. I actually feel pretty good with my position. This stock has been manipulated continually. Will just sit tight and wait. I suspect there will be a big announcement soon enough.
You're an angry elf. Go Titan!
Scooped 3000 shares AT $2.33. THANK YOU!!!!
I used to have a beta, then a VHS. Now I just stick with DVDs. Everyone should hold a base amount of shares in Titan with some cash on the sidelines. If the stock drops to 50 cents like Spirt19 says, then add to you position. I doubt whether it will drop that low anyway. Buy at the dilution price. Let's say it is $1.50. Buy and average down. Let's also assume they shoot for the moon and want 60 million with the end goal of a final raise to get them through FDA approval. Everyone will buy as they will be fully funded. No more raises coming. Do you really want to be on the sideline then after the final dilution? I think not. Sitting on $30k hoping for that scenario.