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The internet has given even the "little man" a voice and a very powerful one. I've watched multi-million dollar businesses react to something an individual put on their facebook page, because that one post was then shared many times and viewed by millions of people. The company was forced to respond or run the risk of it impacting their business in a negative way.
It appears management is going to continue to do nothing even though we've sunk to .35/share and came up short on the financing. It seems they are quite content to continue the course that has sunk us to these levels. Something has to be said and something has to be done. If not, many are on the brink of losing their ass in a major, major way. There has to be a change in direction and management of this company or we stand zero chance of getting out from under this. I think it's worth the try.
You do have me on the list '66? I answered "count me in" early on when you asked.
I'd be more worried that he answered the phone and commenced to feeding you BS lines like he's accustomed to doing. Maybe not answering and returning phone calls means they're starting to feel the heat and actually thinking about doing something about it.
I think he meant to say "former". I really do. LOL!
Still no answer from Chris Seibert to my email. Emailed him yesterday morning and as of today he hasn't responded. I basically asked him about the lack of strategic planning in the funding department, lack of transparency by management to the shareholders, lack of "advertising"/promotion of the company/product and was there any strategy in place to raise money other than continuing to dilute the share price via shelf offerings. Again, no answer as of today.
That "feels" more like a realistic number than $5/share.
But is that realistic given the situation Titan is currently in and where it seems Titan is headed? What is a realistic buyout figure at this point? That's what I'm more concerned about.
I'm just glad EVC monitors the iHUB board though. That way the company can at least know what the investors think when they decide to keep doing the same things they are doing. That should bring real comfort and the warm fuzzies to us all.
And Longtai pulls out and ask for their $2,000,000 deposit back. These guys are stuck in a vise and it's getting tighter. This thing isn't making it to market. Not with these guys. It's going to take them getting bought out and someone who knows what the hell they're doing for this to get to market. Potential buyers are carefully watching and will not step in until Titan has hit rock bottom. They will come in and buy it out from under them for pennies on the dollar. If we're lucky we'll actually get $1/share.
Yep, same here. This is at a stage now that I'm just praying for a $1/share buyout. That way I can get my money back and run like hell. Thoughts of making profit has sailed. Unless someone bought in at .50-.60 or under. There will be no profit making. This ship has sailed or maybe sunk is a better word. It's all about getting out without losing my ass now.
And why wouldn't "they" tell and advise Titan management?
She said they monitor IHUB which means they have known for quite sometime the frustration of the shareholders yet have still made the decisions they've made. Let that sink in.
I emailed him this,morning. Waiting on reply. Will let IHub board know when/if he responds.
Count me in 66Mustang. Something's GOT TO CHANGE or they're going to dilute this thing into oblivion and straight out of business. I've got too much invested to just sit here and trust they will figure it out. Their incompetence is really astonishing.
I'm just asking for $1/share buyout. If I can get that I will take my money and run like hell never looking back at this awfully run investment. Does anyone think we can at least get that?
Looks like the market has spoken. Not a lot of interest in Titan.
Correct. This is my understanding as well.
None of them do and that's why they don't really care about PPS. All they want is the next round of money so they can subsidize their science project. They haven't shown any concern for shareholder's investment. But what they obviously do not understand is PPS can heavily dictate future investors and future monies coming in for funding. Hopefully they'll figure that part out.
I don't think Titan will be second, possibly even third to market. I know Medtronic's robot is scheduled (at earliest) to be to market in 2019. I expect there will be another to market before them (not named Titan). IF, and at this point I'm saying a BIG IF, IF Titan does actually make it to market it won't be until 2020 or beyond.
I think we're now seeing the reason those who I've recently talked to who worked at Intuitive said "Titan will never make it to market." It's due to the idiots running the company and the more this gets prolonged the closer they are to being right. Titan may never make it to market. I think we will continue to see PPS drop (significantly) until major positive news comes out and now that we know what we know about their progress. That is a long ways off.
I believe Titan's management has misled enough to warrant talks of a lawsuit if this thing ultimately tanks to zero. Let's step back and look at it from this view point and simply use common sense. There are much much bigger investors with truly deep pockets invested in Titan. If a bunch of small change investors on a message board can piece together what we've pieced together regarding them misleading us. Don't think for one second the big dogs don't already have a bead on this. They are treading into lawsuit territory. They really are...
Count me in. It's time to right this ship. Bad decisions come with bad consequences and if they continue making them they're going to ruin our investment.
What avenue are you using to "write" the BOD? Can you provide the contact information so I can join in?
Someone else who's more versed in how that works will have to answer that. But I do know Hargrove was "voted off" the board. So maybe those same people have a vote in management as well. I don't know. I'll defer to someone else on the board to answer your original question of how we change management.
It's why I keep holding my shares in the company. I'm beyond convinced the robot is the real deal. I've talked directly to people who I know would know and these people work for competitors of Titan. I've also read the same type stuff on this board from people who have had eye witness accounts of it to corroborate what I've heard. So I have ZERO doubt about the robot and it's potential value in the market.
I just hope and pray there will be a change in management because I'm not sure the current team has the ability to take it to the finish line or even get anyone to partner or buy it out. That's how "sullied" I think their reputation is in the field.
No, the product doesn't "stink". It's management. I've spoken with people who currently work for Medtronic and some who used to work for Intuitive. They all have told me Titan's robot/technology is the real deal and is superior to Intuitive and anything coming down the pipes (for now).
But.....and here comes the painful part. Titan's management must have a "bad name" within this industry. Because the common thing I've heard from the above is "The robot is great but it won't make it to market because the people running it are idiots." I gathered this is how Titan's management is viewed within the industry. The last conversation I had of this nature was a week and a half ago with a guy who used to work for Intuitive. Hence, my toxic and crappy attitude the last week or so.
Not necessarily. It depends on someone's cost per share. I'll use myself as an example. I originally bought in at $2.25/share. After November 2014 and the stock plummeted I actually bought more to lower my buy in level at under $1/share. I figured the odds of the PPS getting back to .97/share are much greater than $2.25/share. Also, in case of a fire sale buyout I would have a better chance of recouping some or all of my investment at .97/share compared to $2.25/share. I look at it as a form of an exit strategy.
Yeah, I don't think Posi telling him the company is run bad was the first time he's been told that. Sounds like he's been told that before. I find it interesting he tried to rationalize how the company was run by stating "it's a development company". Like that gives them the right to do anything they want.
I'm certain he's gotten his ass chewed out over the phone by investors just like us who are up in arms over how they've handled this investment and yet they continue to still run it the way they do.
I definitely have my reservations. But seeing speculations can be replaced with facts in a week or two. I'll hold out judgement until the facts come out.
Well, the good thing is we'll be able to tell in the next week or two if he was lying to Flenderson or not. He made some statements that will be measurable in the next two weeks.
Isn't the design freeze and CE Mark more essential than FDA approval at this stage? FDA approval simply opens the door for us to operate/sell within the United States. So what's keeping us from getting to design freeze then CE Mark and at that point test the markets outside the U.S. and actually bring in revenue? Getting to design freeze and CE Mark doesn't require 65 million does it?
There are things mentioned in Flenderson's post from the conversation that we will be able to know whether he was BS'ing him or not in a very short time. We'll know after the results of the offering whether we're up and running or not and if Ximedica and Plexus are still on board. This we shouldn't have to wait months to find out if he was lying about or not.
Thank you for sharing. I don't think anyone is surprised by the timeline adjustment. I'm actually happy if it will ONLY be one quarter delayed. Hell, I may pour myself a drink in celebration over the fact that's all it was delayed! Thanks again for sharing!!!
I agree and I will be the first to apologize to not only the board but to BIGKAHUNA57. I've let my frustration with management turn toxic and spew over. Not a good thing.
However, I do think as the whining needs to stop (and I'll start with myself) the trying to spin every bad move into some "It was all apart of the plan there's nothing to see here" spin has got to stop as well. I'm all for people being positive. But when "being positive" starts ignoring realities that are unfolding before our very eyes, we become delusional. Bad decisions have bad consequences. It's not a zero sum game where only good decisions have consequences and the bad ones do not. Management has made some BAD, BAD decisions that if not offset by some good decisions, THERE WILL BE bad consequences that directly effect all of our investment in a negative way.
Now that's off my chest can we all be friends again? I'd sure like to have that glass of scotch in vegas with Kahuna if he'll still let me. LOL!
It has timeline delays written all over it. If they don't plan on going at it alone I wonder at what point in the process do they plan on seeking out partnership? Because the vague language gives off the impression that they already know the costs are going to be a lot higher and they will have to delay timelines again.
If you take the additional 8.1 million and added to the 16 million you're awfully close to the amount ($25 million) many on the board thought was needed to meet the two vendors requirement for starting operations back up and running.
Or it might mean that with "x" amount of dollars only certain aspects of development will be able to continue but with the additional 8.1 million full development in all phases will be able to continue. Who the hell knows with these guys?!
Ask him who the one and only unit was sold to. I think it was to a museum. A lot of fine print to his claims. Again, misery loves company. That's the only reason he's here.
Says the guy standing in a dumpster fire of his own. Misery loves company is the reason you frequent this board so much. We all know it, you know it . Just admit it. You'd feel better. ;)
Correct. I know several medical sales reps who have thrown out some numbers (in dollar figures) it would take for Titan just put together and have in place the very things you're talking about before one unit was even sold. It simply doesn't make sense and they aren't showing any signs of putting any of that together. I think the goal is to partner up or get bought out.
There's no way in hell they're going to be able to go at it alone even if they wanted to. And I don't think even they're stupid enough to try it. I think they are going to try their hardest to go as far as they can with it. But I think they know ultimately they will have to partner or flat out sell. As deep in the hole as they are, to even seriously consider going at it alone would be the pinnacle of arrogance and stupidity.
Does this indicate shortened timelines? Or did the board (this message board) overestimate the funds needed through mid 2017?