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Verb Surgical last night retweeted an article on Robotic Surgery and highlighted this passage "Hospitals and surgeons have told us that offering a variety of systems, at an array of price points, and with flexible financing options, is important." Article mentions Verb, Medtronic, Transenterix and Titan. Verb has indicated a desire to work with multiple companies; If SPORT is truly next gen technology then why wouldn't Verb partner with them? I used to think Verb/Titan was a tinfoil hat theory, but there sure seem to be continued coincidences that seem to suggest that it is a real possibility...we shall see
“Hospitals & surgeons have told us that offering a variety of systems, at an array of price points, and with flexible financing options, is important”- key goals for new robotic companies in order to improve access to and outcomes of surgery globally. https://t.co/R8WxJko6oe
— Verb Surgical (@VerbSurgical) February 26, 2018
Perhaps somebody moved the goal post on McNally. The vagueness of both Ishrak and McNally, coupled with the unexpected delays, sure seem to suggest that a 3rd party is dictating the terms of product development. There has been debate on this board as to whether Titan would be better off rushing SPORT to market 'as-is' versus delaying the timeline for an improved model. To that, last weeek on Feb 13, Scott Huennekens, CEO of Verb, tweeted:
"'if we aim to boost performance by 10%, we will only achieve incremental change. If we go for breakthrough targets, 10X innovation, we will have no option but to think outside the box.' 95% non use of robotics & 4B people without access to surgery = 10x op"
Something to think about
IMWT
If MC knew there would be delays, and he knew they would need more money, then why not raise more last time? He must know that announcing any delay would kill the share price and take warrants out of play. He either has a dynamite software partner to announce imminently (VERB), or they need to dilute current shareholders. I feel like they either have the legitimate 'next generation' technology that would be an ideal for a partner like Verb, or MC is bluffing. I'm paying to see his hand. I think it's Verb.
IMWT
Kinda interesting that both Titan and Medtronic just announced similar delays...
From article - Increased competition is driving innovation with new entrants developing prototype products for launch over the next one to two years. Some of these companies include Medtronic, Titan Medical and @VerbSurgical https://t.co/TxMzoUM5uc
— Verb Surgical (@VerbSurgical) December 13, 2017
That call sounds worse the second time around
Hey you two, No Religion or Politics at the bar!
I thought that they had previously planned on 510(k) approval. I had to look up PMA. It's like an NDA, I think. If SPORT is a unique enough system so that there is no previously approved equivalent, then they would need to seek PMA approval, I think? If they are planning on seeking PMA approval instead of 510k, then that would be a very significant and awesome thing? Somebody here knows more than this about me, but that seemed to be the focus of the Maxim Capital questions? This could be a very good thing? But I've been drinking at this point....
IF they feel like they are far enough ahead of the closest SP robot, and close to refining a market changing product, then this is absolutely the right call. That is easily the most confusing CC I have ever heard. I don't know what to think. Feels like there is already a deal in place for another raise, hence the price target of .35. Who knows. It's going to get worse before it gets better, but I'm holding. Hold on. Whiskey helps.
IMWT
Yup. If you need me, I'll be in the basement, drinking heavily
And there will be another raise it would seem
Did he just fucking slip in a delay? You gotta be kidding me
Listening to Estape is what I imagine calling a 1-900 number is like...
HERE WE GO!!!
The only people not nervous today are the bartenders...
Well now we know it will be a positive conference call: Only Titan would have the luck to schedule great news amidst a historic market sell-off....
IMWT
Weak hands get shook
Was it not Dr. Estape whom referred to SPORT as a 'potential game changer??' Or have the old timers on this board been through so much 'share price trauma' that this is interpreted as 'potential game changer as long as additional improvements are made...?'
Not gonna lie, haven't slept soundly since the CC announcement. Can't imagine riding this stock for the past 4 years....y'all need to start a support group!
Speaking of the last CC, the phrase that keeps ringing in my head is the caveat McNally used when describing the initial Columbia testing and success of SPORT 'in it's current form.' These guys are careful with their words and it was totally unnecessary to add that qualifier. I think they are ahead of schedule and will announce design freeze on Tuesday.
I also have a dozen other tinfoil hat theories about Titan and am an unreliable source of information
IMWT
Announcement of R/S, Uplist to NASDAQ, Design Freeze, Software Partner. All next week. So says the dream I had last night...
IMWT
Loose hands get shook
Lowest trading volume since mid-summer. There will be a slew of news over the next 3 weeks. Hold on to your seats. Titan is about to launch
IMWT
And just an observation; F,G,H, and I warrants have all increased by 100-200% over the last 30 days on increased volume.
Couldn't agree with you more. This is as long as Titan has ever gone without a PR or SEDER filing. I think we'll all be waiting another couple weeks, then get hit with a deluge of news. And it's gonna be a fun ride...I still suspect McNally may have plans to see the March warrants exercised, which would require a run up to $1 and a boatload of positivePR. I think he can do it. $1 by mid-march. Let's do this!
IMWT
FWIW, the poster clarified that his sentiment was directed at Hargrove and his dilution. Hard to argue with that frustration, but I suspect he has not kept abreast of the positive developments under McNally
IMWT
Edit: I misread his profile on mobile. AVXS is a prior company. But my sentiment still stands.
AVXS, his current company, is no joke and neither is he. He's an experienced industry player at the helm of a promising biotech play. This honestly gave me pause, but the comment about 'selling at a loss' leads me to believe that his experience was based on old management. At least I hope.
Long and Strong. In McNally We Trust
Ha, so you must be from the area! The frustrating thing is that I'm not a St. Louis native, so I never have a good answer! I say that I'm originally from out West, and the immediate assumption is usually West County or maybe Jefferson City, but it's AZ and SoCal, so I've been handicapped without the traditional STL conversation starter...But I've been here the better part of a decade now and I love where I am. The people are great, once they warm up to you....
Please pass the eye bleach...I mean, it was a joke! Too Far! I was trying to register the username MarkMcMakersonLawntieShenanigans but apparently there is a 20 character limit...I stand by my opinion that the price is being manipulatively 'held in check' and my speculation is that smaller, yet significant funds (who have less regulatory restrictions), are taking positions ahead of the most important 12 months of Titan's history. It's make or break time. I'm hopeful and long. But I apologize and sincerely regret my attempt at levity after my visit to Urban Dictionary....
IMWT
You're both right....
That's an approximation assuming all warrants are converted. I think the share count plus warrants is somewhere between 500-550k? You may be able to discount the 'C' warrants that expire in Mar to the tune of about 7mm shares, but assuming Titan hits it's milestones and is granted 510k, the rest should be in the money. Next expiration date is the high water mark of 1.60 CDN/1.30USD in Nov 2020, and you gotta figure SP surpasses that if the narrative unfolds as us longs are hoping....
I don't think it will remain stagnant for long...Consider these facts; Titan, at the brink of insolvency, makes a sweetheart deal with a foreign company, of who we know little, and who immediately becomes the largest shareholder. Titan FINALLY delivers a workable prototype to the praise of acclaimed robotic surgeons, whom put their money behind their accolades in the form of a private placement. Titan hits multiple milestones and continues to receive positive reviews. The share price steadily climbs on strong volume. The CEO sounds downright giddy on an earnings call before blindsiding the retail investors with an offering. BUT, the offering is necessary and is immediately sold out and soon up-sized. THEN....
The share price drops 20% from the offering price and stays stagnant. There is no negative news and to the contrary, the final installation milestone is achieved with further positive reviews from distinguished robotic surgeons. So are we to believe that there was excess interest from institutional investors, whom after not being able to participate in the offering, immediately lost interest in Titan stock, even at a 20% discount and continued positive news? Or is it more likely that somebody in a room wondered out loud that while it was a shame this reputable investment firm couldn't take advantage of an attractive share/warrant combo offering, perhaps they might be interested in taking their position at a 20% discount from the offering price to make up for the lack of warrant? And then to get really cute, on the 1 year anniversary in 2018, the share price runs 18.18%. Interesting coincidence, if you go for that sort of thing....
Anyhow, maybe it's all tinfoil hat theory, but this isn't my first rodeo with an OTC spec stock and some shady stuff happens with price action, but it's always a good thing in the long term if it's due to a big player taking a large interest, especially with Titan's float and hopes for up-listing. IMHO
IMWT
I'm calling Shenanigans on this price action. 400k in the first 30 and SP is going sideways between .37 & .38? Bullshit. They took the lid off for McNally's 1-year Anniversary and now it's back on while more big money accumulates a cheap position. This puppy will run like a greased lighting greyhound once the next news cycle starts, but it looks like they're still letting institutional friends get on board cheap.
IMWT
Well, I mean, Google and J&J have pretty decent track records....
Checking in from St. Louis, this is the year of Titan! Long and strong
IMWT
Interesting. For whatever reason, it sure seems like they are doing their best to reign in the stock and suppress any significant price action. Being the cynical Titan long that I am, I view it as a last chance for the larger inside players to adjust their positions for tax purposes, accumulate once more at a low price, etc. I think this is coiled and ready to run as soon as we pass MC's anniversary. My paranoid Id thinks about Titan's managerial history and worries that if there was any pending bad news or set backs, the release would get buried during the Holidays. So I am perfectly happy to see SP languish around 30 until the second week of January. If there isn't any bad news by that time, then we'll be looking at surgical reviews from France, updates as they approach design freeze, etc. It should be a rocket ship at that point. Either way, it's going to be an exciting year!
IMWT
Ha, exactly. I think one could even make the argument that the delay is a benefit in terms of entering a more mature and validated market space. And that's without taking into account what I assume were critical improvements to the device since 2013...
Agreed. It gave me the impression of a lazily written hit piece, which I thought was somewhat amusing. I prescribe to the sentiment that life is like video games in that, when you start encountering enemies, you're heading in the right direction...
Bear Argument posted by Intuitive Rep. I think it's important as an investor, especially in pre-earnings companies, to be aware of the bear argument and be able to reasonably defend your long position. Some risk is inescapable in these situations, but I would welcome insight from the longs in this board in response to the article. Personally, I think he makes valid points about the impact of SPORT delays on the size of the potential market, but I would still argue that the potential market size vastly exceeds the current valuation, assuming of course there are no additional delays to 510k approval....anyhow, here it is
https://www.medtechy.com/the-ticker/articles/2017/has-titan-medical-missed-their-opportunity-with-sport?utm_content=buffer1fa49&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
I think so too, as evidenced by the fact I'm posting on a penny stock board on a Saturday night while at a holiday party...a holiday party that is primarily RFNAs that deal primarily with surgical procedures I might add...they have 2 different Da Vinci machines at their facility and think they are impressive machines but are somewhat ambivalent due to the lack of mobility and cost effectiveness, with the exception of procedures that may require a higher degree of precision. Feels like SPORT addresses all of these shortcomings and is poised to become an integral part of the next generation of robotic surgery. I would welcome a bear argument against SPORT that doesn't depend on financing issues. I think we have a unique opportunity here and I'm along for the ride. GLTA and Happy Holidays
IMWT
Awesome, thank you, that's what I was looking for. I am long and strong in Titan and believe that this is a unique opportunity to be involved at the ground level with a company that will significantly impact an emerging market. Like many here, I am done buying additional shares as I have hit my goal position. I think Titan is coiled and ready to run in 18. "The table is set," as MC stated. This will be a good year for those that have stayed the course. GLTA
IMWT
Thanks! I did some reading as well and my impression was that they are targeting the same surgical market as SPORT? I couldn't get a feel for how it compares directly to SPORT in application. Any surgeon insight would be appreciated!