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Then put them both on the road at the same time. It's crunch time. Feelings are for personal relationships. Not business ones.
I would be surprised if by this time next week (or sooner) JH has either resigned his position or removed. I simply cannot see how this company can attract any new significant investors with someone who has publicly displayed the level of incompetence he has. I would almost venture to say they have no choice but to pull the plug on him.
Nice volume so far. Closing in on half a million and it's not even noon (I'm on CST). Regarding why they went to a conference with no money. Knowing what I know now about management. It's futile to try to find logic in stupidity. They are just not very business smart is probably "why".
"Perfect is the enemy of good". I'm definitely not an advocate of sacrificing quality for expediency. However, there is a fine line of knowing when you have something that is more than qualified for market acceptance and letting the pursuit of perfection kill the overall objective.
I remember red flags going off in my head when his daughter was hired. Regardless of the quality work she did, just from a public perception stand point that was bad business. The level of fundamental business incompetence displayed by JH is mind boggling. I'm not for instability at the top either. But there are times when immediate changes are needed because staying the course would be detrimental. This is one of those times.
I agree on all accounts Honey. I'm hoping (and expecting) JH will either resign or be removed from his duties this week (no later than mid week next week). I maybe completely naive, but after this incident this should light a fire under management and scare the crap out of them and promote change. Mistakes of this nature literally ruin people's financial lives. I'm down a pretty penny but I'm NO WHERE near as heavily invested as some on this board. I felt AWFUL for Bet The Kids Tuition yesterday when he posted about getting physically sick. I can only imagine how sick he felt.
When people invest their hard earned money in a company they expect the company to be good stewards of their investment and this management team has done anything but that. Here's to change going forward and getting us out of this mess.
Holding strong here. I would be an idiot to sell now only to have them weather this storm and ultimately cross the finish line. Investing like this isn't for the faint of heart. At this point "you're" either in or you're out. There's not middle ground in times like these.
If SPORT is what "they" say it is and the robotic market has as much untapped potential and growth as "they" say it does. Why in the heck wouldn't they take an opportunity to double down on equity for the original stated price? That's what shrewd business people do. They leverage every opportunity they have for their best interest. And this would be a golden opportunity for the Chinese to do just that.
I'm really wondering if this was a strategic (premeditated) move by the Chinese and a part of their plan the entire time? Could it be they realized how inept the people they were dealing with were and now have them in a position to bend them over the barrel and really get a deal?
Okay, thank you for the clarification.
I think he's implying "ain't noway they're raising 70 million dollars needed to continue operations by the end of the month." In other words they're (also meaning us) basically dead in the water.
You didn't really expect anyone to answer with the $hit storm that's currently happening did you? My guess is there is massive panic going on within their offices this morning, and if it's not there needs to be.
So basically a likely scenario is Titan being bought at less than $1/share?
Agreed, I'd really like for those who have experience in situations like this to give us scenarios of what is likely to happen from this point forward. Do they file for bankruptcy? Do they simply shut the lights off and the PPS simply dies out to zero? If a buyout situation is on the table what is the PPS possibly worth? Etc.
The initial shock is over. Now it's time to look forward to possible and likely scenarios.
Does anyone think there have been (in the last 24 hours) some behind closed doors, overly heated conversations going on regarding this colossal failure? If this doesn't set management into major panic nothing will. Hopefully something good will come of this. The likelihood? Not sure.
The closest thing I've had to personal experience like this is back when everyone thought Sirius XM was about to go under. The stock tanked all the way down to 7 cents. This is AFTER I bought in at 33 cents per share. They survived and the stocked recovered to over $4/share. Hopefully this will do the same.
Honey this is what I keep "clinging" to so to speak. The robot, the technology, the patents are too far developed for this to be scrapped. It's got to be worth SOMETHING and I have a very hard time believing it's under $1.00. But hell, I've been bad wrong before...
The robot and technology is not going away. But it doesn't mean your investment isn't. We are in VERY REAL threat of this company filing for bankruptcy and our investments being completely worthless.
Why would anyone help finance when all they have to do is wait, let the this tank, they file for bankruptcy and buy it for true pennies on the dollar? Unless I'm missing something there's zero reason for any company/partner to get in at this point. Is my thinking wrong in this?
So I assume you and your dog will be selling tomorrow?
I'd love to know this as well. What would a buyout look like (from a per share basis) now? I said I was "signing off the board" because I was so pissed but after a few shots of Crown I'm feeling better. I think I may ride this mofo out. Hell, I'm to far in to turn around. I'm guaranteed a loss at that point.
No kidding. This is possibly the death nail in this investment. I highly doubt this stock recovers. What a waste and what a loss of money for all of us on the board. And to think they were close to the finish line. I'm ticked as hell but that's the life of investing in stocks like this. It's highly risky. Too bad we lost on this one.
Signing off of this board. I'm done. What a bunch of idiots.
No doubt they definitely need to secure the financing ASAP. I'm cautiously waiting to see how the deals with Jugu and Longtai pan out. If we can secure financing through the end of year or longer it should give potential investors a boost of confidence to get on board.
Any predictions about what we will or will not hear from management this week?
I think Stryker requested them to take it down. For what reason(s) is open for discussion and debate. It could be there is nothing in the works with Stryker and Stryker didn't want any insinuations otherwise. Or it could be there is something in the works that Stryker doesn't want disclosed at the moment. But Titan got cute and got their hand slapped. Again, this is all opinion.
Maybe I'm just not familiar with the industry, but what are firms like EVC actually supposed to be doing for their clients? Aren't they an investor relations firm? What are they doing for Titan?
Yeah, I re-read my response and realized I left out a statement I was going to make to make it relevant.
"How this management team has handled this stock hasn't been very logical."
Nothing about this stock has been "logical". The behavior of this stock relative to news being released has been anything but "logical". We've watched good news announced that "logically" would have pushed the PPS of most stocks up. But instead, we saw a drop in PPS, sometimes a significant drop.
That's what my memory tells me is the trend has been the PPS shows an increase right before then the "bad news" hits and it drops accordingly. But to be fair, we've had good news announced and the PPS take a significant hit. So who really knows? LOL!
How dare you refer to us as "common folk". We are the brains of this operation 'round here. We are very important people!!! ;)
My guess is the longer they wait (and especially if it's after hours) the more indication is the news isn't good. If they had "great" or even "good" news they'd want to get it out there as soon as possible and during trading hours.
I agree with your last statement that failure to give updates on the items you pointed out will result in a 30-50% drop in PPS. But my biggest concern right now is financing. We've got to get financing or we can have the prettiest, potentially baddest vehicle on the road. But without gasoline in the tank it's staying parked in the garage.
My "gut feeling" tells me we're going to get some negative news regarding the Chinese company deals. We'll probably get an attempt at some optimism about the progress on the unit etc. But they'll continue to say more financing is needed. I highly doubt there will be any changes in management like some on this board desire.
It was a figure of speech.
Looks like we're back up and running.
I to believe if we could get the financing secured it would bring a lot of mental security to current investors and would be the green light to potential investors to begin investing. That alone would pull the PPS out of this gutter we've been sitting in for waaaay too long.
"I am long TransEnterix, and have no position in Titan Medical, so I am biased. But let's just lay out some facts and point out the red flags I see at Titan Medical."
If he sees 4 red flags with Titan I wonder how many he's seeing or saw with TransEnterix? The one he's admitted he's in it for the long haul with.
Agreed, I think right now that (having enough funding to cross the finish line) is the most important issue. Without that nothing else really matters.
Yeah, same here. I don't expect much of anything earth shattering (in a positive sense) to be disclosed.
Alright Titan investors, let's hear some predictions on what we think today will be like regarding press releases, news, updates etc. Will it be good, bad or indifferent?
Why wouldn't they PR it during trading hours? What would be the benefit of waiting until after hours?
Going on past history and seeing how positive news (which should boost PPS) seems to rarely do anything to our PPS and negative news sends it into a death spiral. If the press release this week reveals anything other than very good news. I can see the PPS dip below .60 for an extended period of time. Like going into 2017 extended period of time. We are waaaay diluted as it is and as most of us have discussed. We have no business being this low on PPS. I certainly hope we get some great news this week.