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Posi's source is Hargrove's girlfriend. His avatar gave it away. Nice pic though :)
As per my previous post, it's not a chance that more dilution is coming, it's a certainty. However, that does not necessarily stop PPS anymore at this point.
This has all already been reported in Sedar filings. You're not saying anything that is not already known by any serious investor.
The short version: 1) they will run out of cash by the 1st of April and 2) more offerings expected up to 30 million. Why do you think we're at 7O-something cents?
The long version below from the prospectus supplement (Nov 6, 2015):
Additional funding will be required, despite completion of the Offering, for the development and commercialization
of the SPORTTM Surgical System, currently estimated at approximately US $57 million. At September 30, 2015, the
Company had approximately US $10,085,394 in cash and cash equivalents and working capital of approximately US
$3,644,644 excluding warrant liability. The Company anticipates that it will be able to continue to operate for 3
months from September 30, 2015 based on the current amount of its cash on hand and short term securities and its
current rate of expenditures, not including the proceeds from the Offering or funds received or receivable from
Longtai in connection with the Letter Agreement. If the full proceeds of the Offering are received by the Company,
it is expected that the Company will be able to continue to operate for 5 months from October, 2015 based on the
current amount of its cash on hand, short term securities, the proceeds from the Offering and its current rate of
expenditures. The Company expects that approximately US $30,000,000 in incremental funding will be required by
the end of 2016 to maintain it’s currently anticipated pace of development. If additional funding is not available, the
pace of the Company’s development plan may be reduced and the Company may not be able to continue as a going
concern. See
Not entirely clear from the original press release, and I doubt it will be blank check to be used for anything, but the press release does state a "Titan operation office", not a "Longtai office." There's still some ambiguity in the wording beyond that.
Based on successful negotiations, the Distributorship Agreement will further lead to an additional US$15,000,000 investment by Longtai. The investment proceeds will be used for the establishment and support of a Titan operation office and facility in the Asia Pacific Region; establishment of a training program for the SPORT system; sales and marketing of the SPORT system.
Hope guys like these will be punished soon. Pretty dumb, late in the game shorting advice anyways.
http://www.freestockpicks.org/titxf-titan-medical-inc/
http://www.cnbc.com/2016/01/20/reuters-america-intuitive-surgical-stock-run-leads-healthcare-group-as-q4-report-nears.html
Looks like the bigger news outlets are getting into it too now with at least the mentioning of Titan at CNBC (via Reuters).
Positive day...and like to see us getting out of this retarded range below a buck and get above it. In the end though, I stopped watching technicals, just focused on fundamentals now...
Maybe, but hard to imagine anyone selling at this point anymore. Are you?
It feels like that to me too...at least to extent that ISRG cannot solely count on bigger pockets.
But...I also have the feeling that we'll we'll be hearing a lot more about infringement over time...
Another round of financing is widely expected.
Might be already priced in...or not...
My guess is it is priced in, provided the Longtai deal comes through.
Should be higher, we would all agree I'm sure, but have to say it's holding up much better as of late than others like TRXC in the current overall market environment. Probably why LTG has not been around lately.
Yes...I noticed the same thing. He always emphasizes software and automation as if it is being worked on right now.
The third inventor on that patent (Peter Cameron) is also of interest. He worked for Ximedica until recently, and safe to say that included work on SPORT.
He now works for Apple. You have to wonder what someone with his background is doing there.
https://www.linkedin.com/in/peterjkcameron
Two things keeping PPS down:
1) financing (the money ppl, I have said this was a major problem in the past in regards to PPS)
2) competition and not being taken seriously.
If you believe TITAN/SPORT can overcome both these two things, then you're in the right spot as an investor.
As an aside, it is rather sad that the completion of the SPORT system is not cheered to the extent it deserves on this board for the simple reason that people don't see the value of their portfolio rise. I doubt we would see this many complaints about management, the company and the great people producing a great product if it would have risen. I guess that is the way the way of the world (the money). Not complaining as I understand the biases and the needs, except for my idealistic heart.
But damn...it looks good! No regrets either way.
Yeah..see my previous post...I think that might be just it...
The problem I have with that is that the machine does not look retarded, and nor do the players (some of them working for Verb).
Actually...there is one reason that I think is the most likely...not satisfying, but I believe to be the most likely, which is that they are just not taken seriously...
That is a mistake I believe...from an investor and market perspective...but I might be wrong...
For what is worth, I had the same thought...along the lines that this idealism not unfamiliar to Google in terms of talk, is also pretty much the background of SPORT as being a surgeon's machine for the patients....So that one got me too when I read it.
In terms of low PPS as brought up by Adrock...I can come up with a zillion reasons...but none of them satisfy me. So I can't argue with skepticism there either...except there's a real robot almost ready ahead of everyone else with engineers that now work for Verb...so I'll go with that...gl to all...
At least one that I am aware of:
http://www.google.com/patents/WO2014201538A1?cl=zh-CN
It could be. What I do take away with my limited technical knowledge from reading several articles, and what they are still focused on at both the ARMS lab and he himself recently in some publications is a continuation of using snake arm technology, or multi-backbone robots, which require a lot of complex algorithms. Given his presence at Verb, it would make sense that the same would be the case for whatever they are trying to accomplish, so you have to wonder about all this overlap with the SPORT system...
This is the latest they are working on...but it goes beyond my level of understanding of robotics...
http://ijr.sagepub.com/content/early/2015/07/18/0278364915584806.abstract
Did a little more digging. Looks like he is actually one of the main inventors of the entire IREP system forming the base of the SPORT together with some other students at the time supervised by Dr. Simaan at Vanderbild University, and perhaps Fowler as well. So no wonder he is enthusiastic about the SPORT and Titan in his LinkedIn comment.
https://www.google.ca/url?sa=t&rct=j&q=&esrc=s&source=web&cd=6&ved=0ahUKEwiH4ZfQjtzJAhWEVj4KHVXFBPAQFgg6MAU&url=http%3A%2F%2Fwww.cs.jhu.edu%2F~areiter%2FJHU%2FPublications_files%2FSimaan_Hamlyn_2013.pdf&usg=AFQjCNHQ9gTWTn4Vm5-UnlBTIqlzzvFq-g&sig2=MTnCbtcuOU1FFdS2y7sAtQ&cad=rja
Agree, it's too soon to tell. I think Verb will built their own machine, but that does not necessarily exclude an MA. What is surprising to me is how small this world is of engineers and companies. They all are extremely aware of each other, and the technologies intersect all over the place.
Confusing. Either way, I don't think a partnership with Verb is off the table, or any other partnership with other companies. The CEO of Verily (formerly Google Life Sciences) is clearly hinting at that. Just have to wait and see if it is Titan, but I don't think this can be kept secret for long. They already hired a 100 people.
http://www.techtimes.com/articles/115523/20151211/googles-verily-already-robotic-surgery-company-spinoff-called-verb-surgical.htm
I'm not very technical, but does this patent indicate that he is actually one of the inventors of those controls (i.e. are they referred to dexterous wrists?). The applicant of the patent is Vanderbilt University.
https://www.google.com/patents/WO2013158974A1?cl=en&dq=PCT/US2013/037336&hl=en&sa=X&ei=aHaOUqvEEIaUkQf6iIDADg&ved=0CDkQ6AEwAA&trk=prof-patent-title-link
There are several other patents on his Linkedin page.
Not sure what to think it of, but obviously it's the same controls.
Is this patented technology to begin with? Or initially developed by SRI and released?
Could be a great find, or not. I think we should all do some digging, but it gets very confusing quickly. Look at this guy now working for Verb Surgical, who previously worked on for Ximedica on SPORT, MAKO, Surgibot, and SRI.
https://www.linkedin.com/in/andrea-bajo-62a00124
It's a small world, as is the technology it seems.
Yeah, what else we got right? The progress and product is key here. If you don't believe in it, get the f out of here. If if you do believe in it, fingers crossed. I got nothing much more to say beyond that.
Time for a follow-up article soon I think with the machine completed.
Should send the press release to DE editors once they announce completion for the system.
Yes, they did. Also a great company any as far as I can tell. Not sure if they are/have been directly involved with the SPORT design, since it's fairly recent, but it could very well be.
Agreed as well. And also, it has been said often, but it can't really be said often enough, Ximedica is an amazing company who seems to come through all the time. Lots of things can still go wrong, but I trusts that company, also, for example, in the patent infringement area. It's not like Titan management or their legal team is looking at that (doubt they have one beyond simpler matters). It is Aiden Petrie (co-founder of Ximedica) who was on top of that right at the start before they even started building. I always like re-reading this past article:
http://www.deskeng.com/de/fast-app-robotics-design-drawing-board/
Finally, I am pretty certain Ximedica will be involved in manufacturing in some form another. They have an office in Hong Kong as well.
http://www.ximedica.com/Solutions/ServicesCapabilities/ManufacturingServices.aspx
I think everyone should take a step back from this little man syndrome and realize that there is a marketable product here.
Here it is:
http://4.bp.blogspot.com/_pJRVN4wmPHo/TP6A3KN_7UI/AAAAAAAAAHg/0GTb5lFdRXM/s1600/small_mam_syndrome_sumo_wrestler.png
Oh..forget that...here is reality:
http://www.titanmedicalinc.com/investor-relations/sport-clips-pictures/
Agree. It's a big market and there is room for several players at once.
ISRG is not doing very well outside of the US and there's lots of room for growth there, especially Asia and Europe. They may seem big, but it's still only a 1000 machines they have sold outside of the US. Only 46 in China, which looks like will be the first place where SPORT will be commercially available.
see their investor presentation here http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MjcyMDc0fENoaWxkSUQ9LTF8VHlwZT0z&t=1
Btw...their site does not look much better Titan's.
I can't say I feel more sorry for warrant holders than beyond anyone else losing money throwing dice.
It's the same as holding stock options - you get what you pay for with little money (high risk/reward).
I do regret warrants not being exercised for the money it would bring into the company, but that's an entirely different consideration.
What this company needs right now is new investors and cash flow as it's mostly being bumped around by traders right now as far as I can tell.
I'm invested in it in with actual stocks rather than warrants because I believe that will come in good time without trying to bet on the exact timing of it.
My sense is that the key point here is that everyone in Titan management agrees he made this thing happen, and so he should claim it. He took over from Joe on so many levels, and better in my opinion. It's going to be a surgeon's machine rather than a sales pitch like TRXC, and that will pay off big time. I would not be surprised if such ideological differences made him leave last year, which I'm good with if it leads to a better machine in the OR. It's the classic battle between real professionals and short-term sighted administrators, much like we see here between short-term and long term investors. In the end, quality and long term vision pays off despite a lot of pain that most cannot stand to bear.
*a free pep talk from the resident board clin.psy. to take care of the mind of longs (yet very much true]
How can that be? LTG told us that any upward move means we're bigger than the competition. Who would have thought so?
This thing is going to take off soon. New investors are on their way to blow thing out of the park. I'm very excited despite the fact that all the longs have been tested to no end.
They really go out of their way to state "initial" and "for EV purposes" not? Does any other wording make the more vulnerable legally? I remember someone saying that showing the final product would have those potential ramifications and hence the lack of publicity sofar?
According to LTG such a move can only mean that TITXF is viewed as a more serious competitor to ISrG than TRXC by Wallstreet as per his recent reasoning.
I think he's reading a bit too much into it, but I'll take it.
That's a big statement on the basis of a few cents....
Yeah...must say...he's looking as bad-ass as the machine itself, but in the picture from the side/back, he can't hide his smile...good for him, he put a lot of work into it...
Perhaps an announcement and more pictures when they aligned it with the patient cart?
Should be soon as it would only a be a few days they said since the last announcement.
a plugged-in rendition?