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Our PPS would have to be much higher before we can uplist anyway. I thought the RS was more about getting the PPS into range rather than mitigating the number of OS shares.
At least at this point, IF they do an R/S we are in a good position to defend against a substantial post-R/S dip. R/S followed by dip is because so many R/S's are the company's last hurrah before the final flush, whereas that CLEARLY isn't the case with TITXF.
3 hour meeting this morning, then lunch. But yes, 66 In da House!
After seeing the video and watching the first knot being tied, Permagrin ensued! I saw the announcement early this morning and hoped it would be well received. The smoothness and dexterity of the articulation in the video was really nice to see. Bear in mind Dr. Valvo was working on a much more rudimentary unit with very preliminary software, long before the final software development push was being pursued in earnest. The added smoothness and polish to the movements could easily be new jitter-damping features or even removal of unwanted feedback in the control system. Dr. Valvo did a fine job proving the capabilities at that time. With Mr. McNally at the helm, we not only have a near production-ready system, but we have more polished presentations and videos to demonstrate these capabilities to the world.
A 20%+ jump certainly is nothing to sneeze at, but when I first saw the announcement, I couldn't help but wonder if the gains could be much higher today. We were at 50 cents the first week of January, with a brand new CEO and no evidence yet of what he would do; it was all just open potential at that time. Now with proof of his efficacy and a game-changing product getting rave reviews, why shouldn't we be back at 50 cents or more? Trust me, I'm not unhappy with today's results so far but I secretly hoped for a bit more of a reaction. To me, this is as close to "crazy good news" as we could expect at this juncture. And they even threw Dr. Patel back into the mix for any doubters, of which there were plenty on this board a couple months ago! Mr. McNally had reassured several of us via email that Dr. Patel was still on board and we shared that message here, but it took a while for the expressions of doubt to die down.
I would say that the bigger affirmation of SPORT's viability is the ISRG price today. Down about $15/share and on the verge of dropping below $1000 by tomorrow or the day after. This has not been a good week for their shareholders. I'm not gloating because we have been there, but we are at that point where as an investment, our long-term outlook would seem to be a bit rosier than theirs.
And although we don't have triple digit gains today, and we still have a long way to go, the Permagrin remains for today! Kudos to the Titan team and ALL their partners (including but not limited to Ximedica, Plexus, Nicholson, patent licensors, etc.) for fighting the good fight and getting things to this point.
I'm pretty sure Intuitive can't be happy about that statement!
I like the new intro pic here on iHub! You can just see the edge of an armrest on the far right to show that the surgeon's arms are supported through the procedure, unlike Senhance, which looked torturous with the doc's elbows hanging in mid-air (at least in the pictures I had seen). I couldn't imagine a multi-hour procedure without a visit to PT afterward! I wouldn't mind seeing a slightly broader picture though, something which also shows the full 32 inch display. This pic looks like the little control screen on the left is the only video screen for the system, and doesn't portray the physical significance of the main console screen where the blood and guts show up in full 3D technicolor glory!
I also like Nicholson's comments about SPORT revolutionizing robotic surgery... I think they did specify single port robotic surgery, but still... it seems like it could be interpreted as a dig against Intuitive, who presumably has been Nicholson's bread and butter for years! It HAS to be that good for Nicholson to make such a public statement which could upset their primary revenue source... to date, anyway!
The caption is a lie. She is really not that young. And I don't know what she has to do with robotic surgery. Maybe she is stretching as part of an athletic warm-up in preparation to move a Senhance system from the hallway into an OR room! That looks like a physically demanding task!
Also, I did not delete my "rant" post. Don't know who did. Looking at some of the crap that doesn't get deleted, I'm not sure what was so bad about my post. But since this is inherently critiquing whoever deleted it, I assume this one will get deleted as well.
Sorry... that was (obviously) the wrong link... Try this one! It's a re-hash, but widens the audience a little more.
http://www.beckersspine.com/orthopedic-a-spine-device-a-implant-news/item/38194-florida-hospital-nicholson-center-installs-titan-medical-s-sport-surgical-system-5-notes.html
Pmont, We shall toast in Vegas! You certainly were not a subject of my rant; I just want to ensure that you are not swayed to the dark side by some of the negativity thrown around here.
Cherrs and be well!
I understand they dress you in a nice warm jacket, but they aren't very roomy! Probably worth it though, if you can get warrants with your Titan stock purchase!
How do we become an institution? Is an LLC close enough? I am already that!
I like both of those! Letter 1, ask for their help, and letter 2, help them fulfill the first request while adding credibility to the situation. Nice strategy play!
What in particular have you been emailing to them (i.e. what is your specific message)? We should all be sending a cohesive message if we all do it. I'm not saying we should all send the same letter like our petitions to Titan last year, but we should all be saying or asking the same basic things.
If we do all join in, I would suggest we pick three or four key points and/or questions, and run with them, each in our own words. I would consider things like:
1. Expected to market in just over a year to be the first true competitor to multi-billion dollar Intuitive Surgical in a market that is expected to explode in the next 5 years.
2. Management team with winning track record off bringing medical devices to market, including award-winning patent/IP program.
3. Severely undervalued stock is sitting appx. 95% below reasonable value, and just beginning to break out.
4. Why can this breakthrough technology not receive any suitable press coverage from a trustworthy media source, given all the attention they are on the verge of in both the financial and medical communities?
By all means, we should hash out the three or four points that we as a group agree we want to use to convince WSJ to look into it and write an article, getting us some coverage. Should be a group effort, at least to opine on what points we think will best get their attention.
On the other hand, it also makes me wonder why Titan or their Investor Relations group isn't already on top of this.
Message in reply to:
I've been emailing the editor at WSJ and have not heard anything back. Everyone please email the editor, once a week, and perhaps if enough of us bug them often enough they will take notice of Titan Medical...
wsj.ltrs@wsj.com
I'm doing the Randall dance... sitting like a Rock!
There an additional smoothness to the Lagavulin over the Laphroaig... the peat is more pronounced as an aroma for the Lagavulin, but mellows on the tongue. I found it to be rather pleasant, but my wife sitting next to me only smelled it and couldn't believe I would put that in my mouth!
We should all be capable of buying by then!
Highlands can be good too, just nothing too peaty for me! I can go up to about a Laphroaig 10 for peatiness; beyond that it is wasted on me.
A good smooth blend is fine for any day of the week! Or Nadurra, a nice cask strength for nights when I just want to fall down a lot.
I'll probably stick to the walker Blue for Vegas.
To put that into perspective, that is roughly 1.5% of all outstanding shares swapping hands in one day. Also, assuming this holds for today, that would make three consecutive trading days with double-digit growth. Hey, the Indians has a 22 game winning streak! How long can we keep this streak going for Titan???
Just remember, when we are in Vegas for our big celebration, there might be a McDonalds a couple blocks behind the Bellagio for the "Just Broke Even" party in the ball pit! I'd rather see you stay in the game and join us for scotch and caviar, instead of a Big Mac and chocolate shake.
Fair value of the stock should put it in a range where RS would not be needed for uplisting. We just gotta get to that fair value!
Meanwhile, if it keeps trending up as it should, we can raise funds with less dilution. Maybe intentionally do a small-ish raise next time and hope the march upward continues before the next subsequent raise would be needed, in order to keep dilution to a minimum.
I thought someone had asked about it but I don't recall anyone getting a confirmation of delivery.
Flenderson, can your contact confirm when it was actually delivered? You mentioned on Friday (9/15) that it had been delivered.
Anyone else have this info? Please share! I forget more stuff than I remember these days...
Message in reply to:
66 thought I read on here that it was delivered 2 or 3 weeks ago.
Here's a theory...
The truck didn't pull up to the loading dock at Nicholson a 2AM this morning.
SPORT arrived maybe Tuesday or Wednesday, maybe even earlier. Word gets around the halls, a few docs sneak in to check it out or get a little bit of a quick hands-on introduction to SPORT and like what they see, enough so to pick up some shares for themselves and maybe spread the word among friends and family that it IS the real deal. Hence Thursday and Friday were just the beginning...
If that's the case, prepare to launch!
Just expanding Mint's leak theory... seems legit.
Nice find! Not posted on Titan web site yet.
I like this part:
"as we deliver this first system ahead of our fourth quarter milestone projection." Is that a little dig against the nay-sayers? Maybe compensation for the unanticipated delay in announcing the third site?
Will this help keep the price running upward? Well, we all know that good news doesn't usually mean much to this stock, but fingers crossed!
Message in reply to:
The eagle has landed...
https://finance.yahoo.com/news/titan-medical-florida-hospital-nicholson-113000987.html
A new week... let's see if Titan is done stretching their legs last week, and ready to run this week! We know there's a marathon in our future; we just don't know for sure when the training stops and the running really starts.
Also...
Happy Surgical Technologist Week!
http://surgtechweek.com/surgicaltech/
I assume this applies to AT LEAST one person on this message board.
When did we deliver the unit to Nicholson? I figured we should have done so a while back but I don't recall seeing that announcement. I also haven't heard anything about Irma's impact on Nicholson... Any damage reports?
Message in reply to:
We WILL have financing news, a third site announcement, we delivered a unit to Nicholson, early results from Nicholson in Q4, internal design freeze, etc.
Early volume is crazy! There has to be something happening...
Scottrade fields are now populated again. I still find it odd that it occurred.
Strangeness occurring...
Scottrade shows dashes (--) for bid and ask price and quantity for TITXF. Then I went to the company web site, it loaded the home page okay. Tried the link for SEDAR filings, it wouldn't load. Closed the page and re-opened, and it won't connect at all, just gave a database error. Third try, it loaded, looks just as it did yesterday, no new SEDAR filing or PR. And still no Randall listed on BOD.
The Scottrade thing is therefore most curious... Are they halted in advance of trading today?
ISRG's run up might be spurred by the imminent split. TRXC's run up makes no sense at all!
Can anyone explain to me how or why share price goes up before an offering? I would assume that if there was some advanced notice of an offering, share price would typically go down due to the imminent dilution. A rise before an offering seems counter-intuitive... no surgical robotics pun intended.
So... Why is it moving up? Did Mr. McNally achieve a potential agreement with one of the investors he met with Monday? Is there some other imminent good news? Is the market merely coming to its senses and realizing we are on to something here? Beyond that, bigger questions include how long will this continue? Is it related to ISRG and TRXC's march upward as part of a general industry trend? Or will Titan be differentiated for its many advantages over the competitors?
I wouldn't mind seeing a bit more volume to back up the rise in PPS. To me, that would imply better sustainability for the increase. I'm not complaining about today's results so far... I just hope it continues indefinitely!
I think there are tons of surgeons out there who are sitting on millions of dollars each in their retirement portfolios. Maybe those a little further advanced in their careers, paid school loans long ago and got kids through college, now building their retirement holding rapidly. They should easily recognize the advantages SPORT offers, and consider putting a slice of their portfolio into Titan stock. They need to be marketed to, and there needs to be a reasonable way for them to get a piece of an offering.
And yes, a slightly bigger show of faith on the part of the management team might carry some weight as well... but it might also be weighted too heavily on this message board. What is the norm in that regard? I know there will be a thousand stories of management teams buying extra stock (above and beyond what their compensation packages already provide) and thousands of stories to the contrary, but what is the average and what percentages of companies do we see in each category? They are not truly outliers in this regard. And it might be overstepping our bounds to suggest how they spend their personal finances. As with the surgeons I mentioned in the first paragraph, no harm in putting the offer out there somehow. But this message board seems to harp on that point almost daily.
Need balance...
A little excitement, but maybe not quite this much...
https://www.bing.com/videos/search?q=steve+ballmer+going+crazy+video%2csteve+ballmer+going+crazy+video&view=detail&mid=3D8158318C0E80A636423D8158318C0E80A63642&FORM=VIRE
Here's a few hints...
They are in Toronto. Summer is about three weeks long. Therefore it is a very insightful business model! Three weeks of work per year, and a 49 week winter vacation!
I think it was a possibility. If something good comes out of yesterday's Investor Conference and they get someone on the hook for some funding, this should run nicely.
That being said, a couple things possibly missing from the presentation are what they offer in terms of share price and warrants, and then extrapolation of some ballpark share prices from their revenue projections in the future.
For example , if they project $3.5B in sales revenue (systems and disposable supplies) plus another $1.2B in service revenue, that's closing in on $5B/year of revenue. We need $60M to completion. At today's fire sale prices, let's say we end up with a billion shares outstanding to get fully funded. A growing company with $5B in sales should have a market cap of WAY over 3 times revenue, so let's say $15B market cap on a billion shares, or $15 per share. If they said they would sell shares for $.15 with a $.20 warrant per share, they are offering projections of 100X multiplier on someone's investment. They are willing to make the sales projections; why won't they take the next step and show potential investors what the potential benefit is of getting in NOW! It is no more of a promise than what he already presented; it is just a "what if" scenario in both cases.
ISRG is showing a market cap of over $38B with revenues of... $3B? $3.5B? Revenue to market cap for them is over 10x. If Titan matched that ratio with the numbers above, these $.15 cent shares turn into about $50 each! THAT'S the kind of stuff a potential investor needs to hear!
I'd say a good presentation overall, not presented with any specific level of energy; just a very matter-of-fact type presentation.
I liked how he elaborated on every hole in a patient being a potential for issues including the feeling of well-being. There were few little tidbits like that thrown in to add as discussion points.
He said there are about 1000 sites with da Vinci installed, most with multiple units. For service revenue in just the US, he said the opportunity is for 10,000 installed units. I don't know where taht number came from. Titan taking on ISRG is literally David (McN) vs. Goliath. 10,000 units means major Titan saturation of smaller venues, surgi-centers etc. as well as substantial penetration into ISRG strongholds. I would certainly love for him to be right but that sounded a bit optimistic to me. 10 years down the road, who knows... but there will be others in the game then too.
And you guys need to be more optimistic as well. Glass half empty or half full... I'm not saying anyone is right or wrong; sometimes we can all be right. I say there was 100 percent audience applause at the end! Yes, ALL FOUR OF THEM clapped.
There he is...
I see slides but only get audio saying it has not yet begun. Anyone Hearing Mr. McNally?
There was a link in the original announcement; it will let you sign up in advance. I have that window open on my computer at home and I hope to be there in time for the beginning of the presentation.
Oh, wait... got t!
http://www.wsw.com/webcast/rrshq27/register.aspx?conf=rrshq27&page=titxf&url=http://www.wsw.com/webcast/rrshq27/titxf/index.aspx
From the Short Form Prospectus in SEDAR filings, end of June -
2nd quarter R&D and Net & Comprehensive loss for the quarter add up to about $4.5M (compared to Q2 2016 total of $15.5M). Burn rate way down from last year; operating much more efficiently.
They had $6.8M cash and equivalent on hand as of June 30, then closed the offering for over $5M and converted Longtai for another $2M. That's just about $14M total. If their burn rate remains fairly steady, they are funded halfway through Q1 2018.
Prospectus said 2017 Q3 would cost $5.7M and Q4 would be 5.9M, so from July 1 to end of year had $11.6M budgeted. Out of the $14M on hand, balance of $2.4M for New Years Eve party. Or to get a leg up on 2018 Q1 which looks to be an expensive quarter, budgeted at $10M. That's where I threw out a ballpark date of Jan 20, about a quarter of the way through the first quarter of 2018.
Granted, those numbers will be over 6 months old by the time it happens, but we also should have updated numbers presented on SEDAR by the end of the year, if not the end of this quarter. I don't know if they will release this type of info quarterly or on the halves. But based on the info currently available, I'm sticking by my January estimate, because I don't think anything else would have any basis in reality. As it is, I still call this my opinion, not fact (nobody can factually claim to know the future) but it's the best I can do.