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Technically he is right because dilutions are typically used to fund something of equal value or growth.
Also traders can trade the dilutions to increase or decrease the amount of shares they own if the share prices remain rather stable and value is recognized.
Since value can not be easily recognized by investors for companies that have yet to have earnings then ranting goons online can be used to to depreciate them. Hedge funds have long history planting talking points to downgrade companies that have preexisting issues.
Some of these players bring down companies to swallow them for lunch like your tacos. If all that is left is the bones, it is even more tasty to them because their lunch will be really cheap.
I honestly believe that some financial entity has been playing this and we just hear their chewing noise here.
Time will tell.
I don't think so. They had passed all the required milestones till IDE unlike previous round. Without cash they won't do IDE.
We don't know for sure if there was an issue with the robot that they wanted to submit for trials because it had worked well with other milestones.
Obviously dilution reduces the stock price. But it is not the only factor.
Compare the device at the start of this investment versus now; are they the same? There is a vastly more advanced device that is worth a lot more that has been developed by this company where millions have been spent on that developement. It was not a zero gain in value in each stage.
And so we are talking about the value. If it was worthless from the onset, then why was it worth more than 16 million back then. You can't have a regressive pricing if the value of the product is going up.
Now I don't give a damn at this point because I don't own it but I do believe that there is a force which brought it down to current price because it is worth vastly more. It is not a piece of junk.
All the money raised would have been spent on the device and would have added value and that should have been reflected in stock price.
I believe there is a back handed institutional or organized effort that has brought this thing down to this levels. It may not have lived up to schedules but it does not deserve this type of collapse and so much scrutiny.
Shutting up people and controlling message boards is suspect to be an organized effort.
My account where I had posted my deleted-posts was deleted all of sudden the day this thing was getting funding ! till I contacted the site?! They had no explanation!
No we are not crooks.
Also this is primary listed in Nasdaq. It is regulated by SEC. The CEO and many insiders are Americans.
All those biotech that collapse are not made in Canada either.
You know the fancy simulation overlay to show where the device will be moving to an all that. That is a separate layer.
I think this is the software that they are talking about.
I have never seen it.
What does it say?
They could not possibly have used the device for other tests that are now completed if they did not have a working software in it.
This is about some sort of new layer of software as well as new tools that are added to it to make the instruments work better.
In other words it is a new update with both hardware and software components because they have released new patents for these and I am guessing that it is part of new milestones.
This is something like singlePort 3.0 (I believe)
Sure they will. Contractors do not own the work.
Contractors are owed the money.
When I was reading the stuff, It did not sound like that they were taking 2nd generation with all the fancy stuff to FDA approval due 1st quarter 2020, were they?
Can you comment on how it will go.
They won't sell the device. They will just do some pseudo restructuring getting to rid of some employees and pay off the debt. They would rewrite the milestones for the 2nd generation and go through it all over again.
They don't have to go chapter 11 but do what they did last time I guess but they would need people to invest in them. Will the public buy into them again?!
If the old warrants are useful to them, they will not go bk. If warrants are not useful to them, they will.
Here is what I think will happen in absence of getting financing in this round, they will likely declare chapter 11 and shed their investors and any debt that they may still have.
There are goons in investment community that will play this behind the scenes and writing the most profitable scenarios for themselves and not shareholders.
If they wanted to sell, they could have sold it already ; The robot will find a buyer in Asia if no where else for at least 50 million or more. They will even fix any software issues for them.
I believe that Titan is probably going to take the next generation of the robot to FDA approvals now that they are so late because of one their milestones that I saw makes no sense. So Titan has probably changed its mind as to what generation of robot is going to be taken to FDA approvals and that is the cause of all this because they probably want to have a robot that they can actually sell.
At this point I believe that the shareholders will have little effect on future of this thing. They have lost 75% of their investment in just one month so it is not unlikely that will not take the remaining 25% away from them soon by going chapter 11. I hope that I am wrong. Brutality is name of the game here.
There is no way that they could not have produced a robot for IDE submission next quarter even based on the current submissions as far as I can see. So, I think that perhaps they could not sell the first generation and repeat the process again for the next version so they had already given up and were going to flush this.
I don't believe that one can buy this or short it till it's financing status is known to say the least.
I sold all.
I am OUT.
I would not put new money into it.
Put any new money in something else.
Look for Ximedica thing was in the news. They had run out of money. They paid them by getting couple of millions from some Chinese company. Then they owed to the Chinese company who they did not want to sell to. They paid them back with stocks.
This is not for buy and hold. It is for short term trading only.
Maximum hold is couple of months.
WC?! I recall that he said something about the plastic wrapping stuff not fitting properly and being 4-8 weeks late. There is nothing in new prospectus about that.
They probably have some mole in financing somewhere though.
They had some cash on hand to pay as shown in old perspectives. It is probably for salaries but it may cover his stuff. I think they have not paid the software people because of failed delivery of something.
Do you really believe any these people? I don't.
There is probably a hedgefund that is sitting here and producing a lot of this noise. I think that it is illegal to supply PIP money to a company and shorting it at the same time for 4 years but they probably have done so. So they were not going to let Titan ride it out without sucking up their own monies and whatever that flows to it.
I never understood why there was such a cry about warrants if they wanted the company to get the cash. They did not want it to get the cash so they could brake it on the way down. That is the reason.
They probably have a plan if does get to finish line . I am pretty sure that some goon is going to cash it all.
Interesting suggestion if they had money.
They need a new gig.
I went through prospectus again with a cooler head tonight
And my conclusion is that the new near term milestones are minor and so they are just slowing down the burn.
Milestone 8 :
a) Obtain final independent report from validation testing of system safety and usability for the intended users and use environments under simulated robotic manipulation exercises intended to replicate essential surgical tasks -> minor
b) Complete User Manual for robotic system setup by operating room staff and surgeon operation of surgeon workstation, patient cart, instruments and accessories -> fluff
c) Obtain ISO 13485 Certification(3) -> no change
Milestone 9 :
a) Implement and test improvements to instruments and accessories -> what improvements? **
b) Perform biocompatibility testing of instruments at independent lab -> fluff
c) Perform electrical safety testing for surgeon workstations and patient cart, including electromagnetic compatibility (EMC) and electromagnetic interference (EMI) tests at independent lab -> fluff
d) Update application for IDE as additional testing lab data is received and continue preparations for human confirmatory studies -> no change
Milestone 10
a) Launch rebranded product line, including logos with trade-mark pending, literature and presentation templates, product and packaging -> minor
b) Complete system software validation -> not minor if there are bugs but minor if software is stable**
c) Submit IDE application to FDA -> no change
** = can be on critical path
They have really slowed it down but it is basically the same thing
So were you.
I have read your posts.
I think that you were trying to say that there is something wrong and "I" was not really listening.
Any cases thank for posting the link.
That saved about half of my money.
For sake of optical illusion to get cash I suppose.
They can sell it to a private entity or j&j etc but for fraction of its actual value.
Will this trade still?
It is worth a lot more but I won't hold.
I will sell the rest next week or so,
Would it still trade?
I have to thank Adrock. Because of his posting the link to Sedar filing, I sold half my position.
This is probably worth a lot more than it current market cap perhaps.
I don't own a bible and even I did. My prayers rarely ever get answered unfortunately. It is a sad day for me and one that I will not forget.
I don't know what the process is.
TRXC's version was sold for more than current market-cap and it was inferior to this so.
They should forget FDA and have it approved elsewhere.
What do you want me to say. I am not as much upset about the delays as I am that they were missing milestones in there altogether .
They should have came out clean probably more than a year ago.
So there is no financing deal. Is there?
Thanks.
Titan has passed multiple testings.
https://titanmedicalinc.com/titan-medical-completes-preclinical-good-laboratory-practice-procedures-with-its-single-port-robotic-surgical-system/
https://titanmedicalinc.com/titan-medical-announces-successful-completion-of-survival-phase-of-glp-chronic-procedures-with-its-single-port-robotic-surgical-system/
Yup there is only 3 of us. That's different and not something I expected. Thanks.
They will have new warrants with the current raise too if it goes through.
So it is possible for them to get sufficient financing here.
LOL. Yes.
TickTock.
https://i.gifer.com/3BET.gif
Their short prospectus I believe specified what the objective was.
Most trust worthy posters have said that it is waiting for regulatory approvals.
This stock is listed in two markets TSE and Nasdaq and so two regulatory bodies have to exchange information perhaps or satisfy some regulation perhaps. I have no idea.
My wild guess in the past was that some large shareholders have requested for more information.
I am not aware of regulatory restrictions or time limit in raising money although it was in their press release!
For the record it is Thanksgiving here in Canada.
Biggest Pumpkin this year in Canada. 545 kilograms = 1201 pounds
https://i.cbc.ca/1.5319522.1570904381!/fileImage/httpImage/image.jpg_gen/derivatives/16x9_780/giant-pumpkin-weigh-off-2019.jpg
Yup. Titan can produce a multiport quite easily if needs be in future. It already has two arms patched together in a single port . The port can be divided into two ports. Such Titans's multiport would be very maneuverable because it would have a snake like joints unlike the rest of industry.