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Be patient. We'll get there. One thing this management has been great at and that's driving the share price into the crapper. That's one "milestone" you can bet yo ass they'll hit.
And my guess is he was told some BS just like everyone else. Unless the guy was directly involved with the personnel situation I highly, highly doubt he was privy to any real reasons why the guy left. It doesn't mean he wasn't "told" something. But odds are what he was told was utter BS.
Our present condition (We're out of money, operations are halted and sitting at .35/share) tells you how much it's worth...
The glaring and obvious red flags that point to SPORT not being a viable product in the open market are:
1. Management (specifically McNally) refuses to invest their own money.
2. They've been to umpteen investors conferences and can't get any monetary investment interest. Cambridge is getting "sweat equity" interest. But "sweat equity" doesn't pay the bills.
3. Continuing delays and gross and I mean GROSS miscalculations of funds needed to completion. It keeps changing.
I've listed just three. I'm sure there are more. But these three are enough to at minimum admit there is something very wrong with SPORT. We can argue over what it might be or could be. But we don't get to this point and everything be going as planned.
You don't have to throw in the towel. It's already been thrown in by this management team. This investment is dead. They'll be shutting doors by the end of May.
My concern is two fold. First, no one in management is buying up shares. That, in my opinion, is a huge red flag. Especially considering how cheap shares are. Secondly, lack of interest from investors. They've gone to investor conference after investor conference with a robot that is supposed to be "revolutionary" yet can't drum up an ounce of interest. That's another huge red flag.
I think there are people who have been privy to a lot more information than those of us on this message board, and there's something they know that we don't that is keeping them from investing. Which is why we're sitting here out of money, can't pay past vendors, halted operations and basically dead in the water.
Yep. This is over.
You keep scoooooooping big spender!!! LOL! This think is over and done with. The game is over for SPORT.
I'm going with out of business. The lack of interest in SPORT in the robotic investment community leads me to believe SPORT isn't a viable working product. There's something these investors at these "investor conferences" know that we don't. There's no other explanation.
The "equity" position Cambridge is taking is they will provide services in exchange for shares/"ownership" in Titan. Actual money isn't changing hands. I'm not sure why this is so confusing to people.
They've advertised this robot at enough investors conferences begging companies to invest. Yet no takers. If the robot was as revolutionary as many claim and the monetary potential was what many claim. We wouldn't be sitting here, out of money, halted operations, and under .50/share. Us being in this position should bring anyone with an IQ above drooling to the obvious conclusion.
I hate to bust this to you. But I highly doubt there will be any "partnerships" or any "buyouts" that would be anything other than a fire sale for pennies on a dollar.
I don't mean this sarcastic, I really don't. But don't ever underestimate stupidity. McNally has proven through the management of this company that his decision making is somewhere between stupidity and incompetent. They lowered their options for a reason. They may even try to lower them again. But making stupid decisions have been par for the course for this guy.
Since the curtain got pulled back on OZ, BigT has gone MIA. At least Flenderson and 66Mustang had the backbone to still show up. I wonder if BigT ripped down all his "David" posters he had hanging on his wall? Inquiring minds want to know.
No kidding. An absolute joke and gross mismanagement of a lot of peoples' hard earned money. I don't see they lay their heads down at night. I really don't.
So basically we've suspended development due to having to pay past due invoices to vendors. Of which the letter indicates we don't have the money to pay them. So, we're out of money as well.
Cue Don Meredith folks, "Turn out the lights!!! The party's over!!!" Good lord what a cluster crap this has turned into. David McNally needs to be fired today, and he needs to take his "Rock" home with him.
People are trying to find fragments of diamonds in an enormous mound of turds. All we as investors should look at to tell us all we need to know is the number of shares management has bought. SPORT19 and many others (who are no longer posting here) has said it literally now for years. They aren't confident enough in SPORT to put their own money into it. That is all we need to know at this point. And if that's not enough, no other company thinks so either. Hence, the reason the company can't raise money.
I think he was probably painted a picture (to get him to come aboard) that wasn't true. Just like what has been done to the shareholders. I still wonder what those surgeons out of Mississippi are thinking now? I KNOW they feel like they were duped. People have come up missing for a lot less...
BINGO! Take whatever you read from management with less than a grain of salt.
As we all know with how Titan works, if it's truly good news the SP should do nothing or go down. If it actually goes up we need to all begin to worry. LOL!
Let me be more specific. The Long's who have decided they're not putting another dime into this investment are screwed, even it "turns around". The dilution that will certainly take place between now and "turning it around" (if that actually happens) will crush our investment. Most of us Long's who fit into the above category are just hoping for the SP to rise high enough to get out with some of investment intact. Rather than losing it all. But even that seems unlikely.
This is exactly what they're going to do. It's obvious no one is interested in investing in SPORT. Not even the CEO and his circus clowns. Cambridge and work on the software all they want, but working on software doesn't isn't equivalent to money in the bank. Which is exactly what the company needs. McClowny and crew will continue to cash their paychecks then be gone. That's about all that's left in this investment. They're out of options.
The cynics view would be their ship isn't sinking. The shareholder's ship is the one sinking. Management is still getting six figure paychecks regardless. They haven't been fired by the BOD for their piss poor job of handling the latest debacle. Hell, if you're still getting paid six figures for doing such a crappy job, would you jump ship? LOL! I wouldn't.
Here's what I'm afraid of '66. The new "game plan" means more money, more dilution and another round of delayed timelines. Please do your best to tell me why I'm probably wrong about that. Because trust me, I really want to be wrong.
From the article. This tells me everyone on the inside recognizes "We eff'd up and have to fix it fast."
“As a consequence, we have been able to deliver significant design improvements in a short space of time."
Management (especially the CEO) not investing their own money should have been the biggest red flag to all of us. Yet we had people on here just absolutely sure the reason was due to some legal reason they couldn't. What a freaking joke. I love positive people and in general optimistic outlooks are healthy. But when optimism blinds "you" from obvious warning signs then it's no longer productive. Which is exactly what happened here. We had people passing off obvious warning signs in order to "keep positive" only to have the rug pulled out from under them. Let's all learn a lesson here. I know I have.
There's always a "new problem". That's THE problem. They keep moving goal posts AFTER they've lead recent and older shareholders to believe they were close to the goal line. There's a word for that...
It's not "right" until it produces results.
You're missing something. The share price hasn't done squat which means "Mr. Market" doesn't believe yesterday's announcement changes Titan's already pitiful position.
This is good news but still doesn't do anything for the longs. The announcement says once adequate funding is secured. We all know what that means. Bend back over the barrel boys!!! Maybe they'll use some lube this time...
If by the grace of God this recovers to the initial RS share price I cam going to sell. Because there's no way in hell this is going to get to my cost average SP which is roughly the same as yours.
Man, you've expressed EXACTLY how I feel. I have learned a very valuable and EXPENSIVE lesson. It just makes me sick these clowns keep cashing paychecks and probably won't be held accountable whatsoever. I'm pretty convinced they have known all along what SPORT really was and just took advantage of people like us and many others.
Magnetics, any thoughts or predictions on what we may see in 2020? Have any of your family members or friends forgiven you for advising them to buy Titan? LOL! I did the same as you and feel awful and completely embarrassed. I just hope someway somehow the PPS can get a SP that some of us can get out with some of our investment. Thoughts?
What happens in 2020? As many I'm so pissed off at what has transpired and the money I've all but lost. So what realistically does 2020 hold? I've accepted I've pretty much lost everything I've invested. Just holding out hope at some point in 2020 this can get high enough that I can sell and recoup something. I still cannot believe what has happened here. There has to be an element of fraud in this.
Someone help me understand the latest ASPIRE announcement. So does this mean we now have access to $35 million? I still cannot believe there's not been one word from management since the debacle went public. How these people still have jobs is beyond me.
Their "plan" is to bleed this dry then shut the doors. McNally, "The Rock" and the rest of the clowns in this clown show have proven to be completely incompetent. They have driven this investment to the point of no return. So anyone expecting a "plan", an "announcement" or whatever are pissing in the wind. This thing is over. O.V.E.R. OVER! Merry Christmas to all!
The investment community knows Titan is done. Mac and his "rock" are just bleeding out the rest of the money before they close the doors. This investment is over folks. Turn out the lights. The party's long been over. We're just the suckers left holding the bag and paying for it. Mac and "rock" walk away without losing one dang dime.
Everything they've done has turned out to be a pile of turds, except for their paychecks they keep depositing.
I'm sure there are pictures on the dark web...
They don't have any money and no one wanting to invest. I'm not sure what they can do at this point. It appears to me they are dead in the water with options.
Yep. Because by then it was well known how incompetent "rock" was. I think a lot of us wish we would have just gotten out. Now here we are...