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Personally, I'm a little bit at a loss with the volume and drop of yesterday.
The most positive explanation I can think of is that the raise is bigger than initially anticipated by the market, and they got wind of it, and so the price settles lower because of dilution. Still, that would be positive, since I actually doubted they would raise anything like 25 million. The prospectus states funding just to start up and advance Q1 2019, not even finish it with the money raised, which translates to a fairly smallish raise of around 15 million in this round. Q2 2019 is still entirely unaccounted for in the prospectus...bah...more raises to come after this one I think...
I'm still expecting that frankly, not the 25 million others mention here, but maybe...as it would explain the drop.
Other explanation is that it is simply shorts, and retailers panicking and switching their shares too cheaply with the pro's, as usual...
The most negative explanation is that they can't raise the minimum amount of the offering, which I hope not...that would be bad...but unlikely...we would tank a lot more than is the case now...
So perhaps you're right, that we'll be spiking soon...
never a dull day in Titanville..fun times...
Agreed..the market cap is ridiculously low right now...
With this raise, potentially 50 mil in the coffers, and 75 million market cap? SPORT worth 25 million only? It's a joke...
If we put our money together, we could probably buyout the company without the cash...
Fully funded till mid next year would help, but I don't expect it to take off really. But it is encouraging is that they'll stop tinkering with SPORT already in end of August this year, and the rest of the year will built the new model with all the design changes (bringing it all together).
So end of year, we'll have a big unveiling of the new model, and seeing the renderings from the AGM, it will look pretty cool. That should help as well, but still...
I think the real 200-500% run-up from current levels will be when they test the new model again at the training centers...Q1/Q2 2019...
But who knows...I certainly hope it will be sooner rather than later..
Is the bird American or Canadian? CAD or US?
Not just kept in the dark...mislead.
Which is why I liked the present mgmt used the term "honest timeline", which was a little stab towards pretty management.
Very impressed with Genova - a little "wide-eyed" and not to be messed with.
Nice price action follow a raise. Best I have ever seen with Titan.
Looks like shorts cannot do any much damage anymore. They should get burned soon.
Brilliant idea...let's stop moving forward...
Same here...doubled my position in one account...nothing big...but doubled anyways...
I do remember that...and this feels similar. It looks even better this time, with only a very slight drop in PPS this time, as opposed to the usual 25%. Must be that we're on the NASDAQ now, and we're not going to see 4.5 as some predicted. It's barely budging. A lot of buyers out there ready to get in. Might be even going up today when the dust settles.
Yes, it went up, also on the US exchange. Just some weirdness to do with the quote system, as it tries to catch up. Should show correctly tomorrow on the boards.
Bottom line..we went up...
if anyone had doubts these many articles are computer generated these days, and if you want a laugh, look here. At least our "CCI rating", whatever it is, looks pretty good.
https://parkcitycaller.com/titan-medical-inc-tmd-to-shares-needle-moving-3488-00/211698/
There are so many rules for up-listing, with several subdivisions and rules, that quite frankly, I do not question it, with just skimming those rules online.
We're already paying a guy called Randall to take of it, and I'm sure we'll be listed end of month.
Very good day, very positive pps movement, hope it continues...
Yes, several of us have the same - being a millionaire for a day.
It translates to around 3.25 billion market cap (which actually is listed on some stock quotes as such). This would be a buyout I can live with.
They will update it as surely as they will update my balance of millions at the moment because the consolidation is not reflected yet in it. If not, I'm okay with it. I assume you won't be.
In Canada we are. Up 3 cents now, 7.53.
A balance that may yet come one day !
Those long term charts are fun to look at. Takes some getting used to. Somewhere in the history of Titan we were at almost $ 80 once.
1 cent down..with 350 shares traded on the TSX...going to a be low volume day it looks like.
A bid of one share. No-one is trading it yet.
NO R/S on my dashboard, but got 7.50 as well. So now my balance is a few million $. Nice to see, but I expect it to be short-lived.
Did that number of hoping for a 10x increase at FDA approval like TRXC came from Randall?
Because that's fuzzy math (TRXC) only went up around 2.5x upon FDA approval). But thanks posting. It pretty much jives with my expediencies, which is that we still might have some pain ahead.
It's definitely Randall who would we say that we only spend money, and that is what we are supposed to do.
It's his favorite line.
I agree, I have not seen any real sarcasm yet.
Hysteria..yes...or what is also more commonly referred to as uncontrolled emotional excess.
It's a little bit of an outdated medical term that was usually reserved for women, to their detriment, but perhaps we should at least consider bringing back the diagnosis for some males.
Luckily, there are several home remedies for this condition, but they are easily applied at home, usually involving masturbation. (see https://www.psychologytoday.com/us/blog/all-about-sex/201303/hysteria-and-the-strange-history-vibrators)
If this all sounds too tiring, or if you cannot find the time spending too much time on these boards, you might still be able to find a willing and old-fashioned psychiatrist to give you a nice rubbing at home.
Well said, and well deserved. I rarely post here here anymore, since I can't be bothered with stupidity, but kudos to you.
You mean the chicken breast in a jar?
https://www.cnbc.com/2018/03/15/alphabet-verily-joint-venture-verb-health-tech.html
Verb robot already in animal trials it says at the end of the article.
I never been much of a believer in the Verb connection, but "their" robot already being in animal trials seems as unlikely.
.23
Probably where we'll be at when it settles. It's priced pretty sharply at .30 CAD in my opinion, indicating a lot of confidence.
Like you, I'm surprised some are surprised with the timeline. It was already known from the MD&A, as some have already pointed out. No-one reads these things? Money needed. Known as well. This is meant to get us through the whole year, as opposed to previous funding only getting us a bit into Q3. Anyways, I think it's a pretty nice setup, giving a very nice foundation for the future. Already laid out my view on this here:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=139083162
It could very well end up quite a bit higher .20 US as the price as to where this will settle until it's over. I doubt it will be a fire sale.
It seems rather "soonish" to do the raise, but not unexpected either to me.
I just read through the Sedar filing, and the intent is to get Q3 and Q4 fully funded with maximum proceeds. It should therefore be "smallish" at around 15-20 million.
For those ready to throw in the towel, I would consider the possibility that is a very tactical play.
1) raising late in the game with your back in the wall gets you crushed as we found out last year; 2) an R/S with dilution soon after gets you crushed; 3) doing it now, R/S, and up-list soon after with good news gets the ball rolling.
Whatever you guys feel, I refuse to be shaken out of my position. Anyone else can do whatever they want, but know that your shares will be picked up by someone/something else, guys a lot bigger than you that make very few mistakes.
It's going to be a bit painful the next few days, but I estimate it will settle at around .20 cents when all is said and done, and then 3) will come into play.
Yes, most people here already speculate it will be, Microline, so it's not really new, but good to see you do your dd independently and come to similar conclusions.
Me neither.
I expect some pretty wild fluctuations end of Q2 with R/S, press releases on partners, uplisting, institutional investors, fund raising, feasibility of last changes to SPORT confirmed, etc., but not going to predict where it lands.
Overall, I like the price action a lot, and it appears the collective market was smarter than us, with for the most part, this delay already being built-in, and why PPS never really took off as much we hoped for, YET...
My feeling is that when it really happens, it's going to be very difficult to buy in at the right time, so just hanging tight with what I have...
Time to get past the past. Anyone notice we're bouncing off nicely of the 200MA? It doesn't look we're in for a deeper slide as some feared (or a fear yet others like to instill)
I think there's room to move up again from here.
I tend to agree. And even if it was a manipulative delay, what kind of manipulation would that be? Trying to successfully bring a product over the finish line? Isn't that goal for all of us, and why would Mac want anything different?
But I understand the brooding and looking for schemes by some of the posters. The main thing we do not want is to be as long term investors having dished out our well-earned money for the development of SPORT, only to see our investment diluted into nothing, others benefiting later on. That would be a hard pill to swallow.
I think the above is a genuine issue that is still at play, but otherwise, in terms of the need for making these changes to SPORT, I have no issues with the delay.
Yup, talk about "shaking the tree".
More like uprooting the whole damn thing.
As usual, retail investors sell in panic, then buy back in at higher prices as calm returns, while the MMs pocket the difference.
Thanks, although I would add that it's better than positivity. It's what he said.
Certainly it's not speculation as suggested by 5under.
You can glean a lot from CC's if you take the time, although it certainly helps that McNally is extremely measured and precise in his phrasing and communication. With some CEO's I would not even try.
If you read the transcript carefully, you'll get a pretty good idea of the new timeline.
It clearly states that new updates to SPORT will be followed by new evaluation studies that will roll into 2019. It also states that these evaluation studies will occur with the final product.
Both indicate that design freeze will come this year, and the phrasing of "rolling into" suggests that the final feasibility studies with the finished product will also begin before 2019.
On top of that, they want to try to compress and overlap the (potential) human life feasibility studies (3 to 6 months; if required, and if possible) with the swine and cadaver studies as well as the preparation of the FDA approval itself.
So given the previous timeline, this would translate to somewhere in the first half of 2019 for FDA submission. It could be either Q1 in the best case scenario, or Q2, which is probably more realistic.
So FDA approval could still come in 2019 as well.
Feasibility studies with life human participants are just a possibility at this point - a confusion inspired by confusing FDA criteria. They're just getting ahead of the eventuality, trying "to get things right" and dealing with it the best way they can.
It's not such a big deal as compared to an actual human trial, which is very costly, and would lead to a lot of delays. This was actually at one point in the timeline during Fowler's time, but since then, FDA regulations have relaxed a bit, as long as we're judged to a predicate device.
"To get things right" is pretty much Mac's focus, and to do so to the extent he can get away with, with investors and his eventual legacy.
There's no other conspiracy here, and the fact that it feels late to the game, only reveals the inadequacies of previous planning and previous management. There's nothing more to it than that.
It's people, people, with all that it entails. No deep state, or anything like that.
I had the feeling this was coming ever since that postcast awhile ago, and I posted about it before, in which McNally stated they really want to get this right, and if it takes a little bit longer, then that's okay.
He was referring to the timeline that was changed from previous management, and not to the current change in timeline, but that comment (judged as Flenderson's insider as misconstrued) was enough to convince me that he has absolutely no qualms about delays, as long as it is for the sake of the longer term pay-off. He'll do it again if he has to.
So here we are, with a delay, and a better longer term pay-off. Take it or leave it, it's not that much longer to begin with and relatively minor. Either way, nothing other than that is going on here.
It's a computer generated transcription.
That's called Verbish/Googlish.
Yet more evidence of the Verb connection ;)
Listening to Estape it feels more like a hostile take-over of the entire market of ISRG than just "being able to compete". It is that good.
Management clearly knows this, which is why they are so excited and confident. Too bad the market does not quite believe it yet.
Just read the transcript of the CC that came into my inbox.
It seems to me that bigger story here is the revolutionary potential of the system, and not the delay in timeline.
And with revolutionary I mean, it not only leaves the ISRG single port in the dust, but the the entire multi-port system for many indications!
SPORT could take over most of the market, according to the info in that transcript.
We'll see tomorrow if the smart money agrees or not, but either way, if I was ISRG I would be afraid after hearing that CC.