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So these guys are really just going to sit here in silence? So nothing is going to be said by management? This is unreal. How long will the silence go on?
They are dead in the water. They know it, we know it and people in the investment community for robotics know it. Stick a fork in them They're done. Game over, credits are rolling, etc. This investment is over.
Because people know they now will more than likely fire sale it for pennies on the dollar and end everyone's misery of following this piece of crap investment.
When you're using other people's money, not putting any of your own money in, while getting paid six figures. Who is really in any rush to bring the product to completion? LOL! The guy really isn't in much hurry to finish the robot. He's letting all of us idiots continue to send our "love offering" to his "ministry" while he writes himself checks.
You must be new here. This is standard operating procedure for this company. Silence is nothing new. Been going on for years.
Then there's no decent offers and us longs end up getting bent over the barrel and royalty screwed. Which to be honest, we've already been royally screwed. Now it's just mitigating losses.
If you're a long you are rooting AGAINST this raise or any other raise to go through. The dilution will crush your investment, unless you want to throw a ton of good money at bad money and hope the next reverse split isn't 100:1. The best case scenario for any long right now is to buy up these cheap shares now, lowering cost basis even further, and the company gets bought out. That way we can walk away breaking even at best. This has turned into a stage 5 sh*t show.
Hey Flendy, great to see you pop in. No ridicule from me (if you were expecting some flack). What are your thoughts on all this mess? Hopefully '66 will pop in and give us his.
We're in a different situation now. They've already done a RS and simply hiring someone new isn't going to change (or I wouldn't think) the additional funds we now know they need AND the extended timeline to 2021. That worked one time, but I highly doubt will work again. This train is dead on the tracks regarding funding. I have no clue who would invest in this after the fuster cluck this has morphed into. I really don't see any other options than to sell or just turn out the lights and let it sit in the barn.
*However, I am very tempted (will more than likely not do it though) to for kicks and giggles "scoop" up some shares at .50 and DRASTICALLY lower my cost per share average. I don't think they're going to let it sit in the barn and rot and I don't think they can fund raise anymore. I'll drink on it this weekend and think about it. LOL!
Zaring just didn't come aboard on a hope and a prayer. I also don't believe Mac and company "lied" or "misled" him to get him here. I think he had full disclosure of what was going on the entire time. Unfortunately we the shareholders were left in the dark. Either they're about to pull a rabbit out of the hat (which is highly unlikely) and get this thing back on tracks or they're intending to sell this thing and Zaring is going to help do it. There's not too many options they have at this point. I highly doubt they can raise money anymore.
Then Mac needs to disclose that rather than (like he's always done) sit in silence and let panic set in with the shareholders. Which is exactly what he always does.
If this lingers in silence like they normally do and there's no announcement of a fire sale or a financing (which I would find highly unlikely at this point). The PPS will continue to dip.
My guess is the dbags in management are going to try their best to keep raising money. I hope they come up empty and are forced to sell.
Okay thanks, so basically this couldn't happen in one to two weeks time?
Any shot in the dark as to how much a fire sale would bring and how long does something like that take to go through? In other words, if people wanted to look at buying to lower cost average in anticipation of a fire sale. Would it be something that would need to be done immediately?
I agree. For those sitting behind their computer screen in complete utter shock and are beginning to ponder "What the F*** do I do now?!" (like the rest of us are probably doing). I think there are only three viable/realistic options at this stage.
Option 1: You think even though management screwed up on SPORT. There is still a marketable product (including patent portfolio) that a company will be interested in buying. As tough as it maybe to do, buy enough at this sub dollar prices to position oneself to mitigate losses or hell, even make a little money.
Option 2: You think this is a POS and no one wants it. Watch the PPS and guess how high you think this thing will peak and sell.
Option 3: You think this is a POS and no one wants it. You don't give two craps about PPS anymore and just want out. Sell now.
Somebody is about to get them a next generation robot for pennies on the dollar. The key to it for us poor saps is going to be to time it right. At .50/share (and my guess is over the next several days/weeks the pps will dip even lower) anyone with a little bit of pocket change can really pull themselves out of dilution and lower their PPS to position themselves to possibly hedge big losses. Thoughts?
That's what I was saying in another post. These guys are frauds and crooks but so I KNOW even as the ship sinks they are going to want make their money on their options before they step off the sinking boat and onto dry land.
Oh no doubt. I'm pretty confident the fundraising is over. They have very limited options at this stage. But I figure even the fraud McNally and "The Rock" want to attempt at making a little more cash as they walk out the door. Hence, putting it on the market to sell.
That is a question that keeps coming to the forefront of my mind as well. These guys aren't dumb and naive people who make career decisions over a lunch conversation at the local pub. There's a lot more that will come out. We just need to sit back and wait because now that the curtain of OZ has been pulled back. My guess is we are going to find out a lot more alarming information that existed all along.
Question for the board. Now that we truly know where the company stands, is it realistic that this will get bought out? We all believe the patents have value, but we also believed we were close to the finish line as well. Only to have rug pulled out from under us. So at this stage of the game, what is our realistic options to at least recoup SOMETHING of our losses? Or is it basically a complete loss at this point? I am highly pissed off.
Correct, which is what several posters on here have been saying since at least Otober/November 2018 when they started accusing McNally of being a liar. It appears they turned out to be right...
Hopefully the company can be bought out and we can get SOMETHING back. I'm in the same boat as you. Quit investing several years ago but still invested enough to make my physically sick.
Do you have any idea what current outstanding shares are? I'm trying to figure out if they do get bought out at $500 million what would be my loss. Thanks in advance.
I guess one thing I could do is holdout for a potential buyout. Because I honestly do not think there is any other options for this company.
I guess at this point the question is what is the market value for Titan? Are our patents really worth what people have tried to say they are? I absolutely am in total shock about yesterday's news. Unreal.
So is your plan just to take your losses and move it to your tax return? Or are you going to try and short it and get a little something back on it? I have no idea what to do at this point.
Will there be any public statement from McNally or will they just quietly leave the building and go about their lives? No way anyone continues to invest in this. This ride is over, unfortunately for all of us we lose our butts. Absolutely amazing at the lies and misleading that went on here. A LOT of hardworking people lost a crap load of money because of these clowns. Unreal.
I don't. I specifically said "Not to make fun of". But to get their thoughts on what has transpired. I wasn't one of the ones they constantly sparred with...
Maybe the guys from the "tree house" or whatever they were calling it will come down and give us their reactions to this news. BigT, 66Mustang and others. Not to poke fun or anything. But to just get their reactions to this cluster crap that splattered all over us today.
Yes. It's over. No way people keep investing after what's come out today. The lights are probably already turned off in their offices. Lawsuits and a documentary that will air on "American" Greed is the only things to follow now. I hate so many honest people lost a crap load of money.
I think what has become crystal clear and many have suspected for quite sometime. There has obviously been major, major issues they've kept behind the scenes. I have no idea what those "issues" are but it's been enough to keep those in the know from investing. Hence the suppressed PPS and the inability to get financing. The smoke and mirrors are officially over. We have a turd.
In honor of the late Don Meredith, "Turn out the lights, the party's over."
Do you see long's with cost averages between $10-$15 still being able to "make money" on this? Every time a raise is announced I cringe because I know my potential profit just went down.
The choice is ours as we would have a hair under a 100M o/s at time of buyout. Not all that bad. Key is to stop these raises and get the money from warrant exercise.
BelizeMe, in your opinion how valuable is our patent portfolio? We've read on here for sometime now that the patents alone are worth "XXX millions". Are the big fish simply sitting on the sidelines waiting for Titan to "bleed out" and try to buy them out on the cheap or is no one truly interested in it? They have struggled mightily getting money, getting SP in to warrant money yet supposedly having revolutionary technology. Something's not passing the smell test.
No they're not. It wouldn't surprise me at all if in 2-3 months they did another raise. Heck, I would be shocked if they didn't. LOL!
They are too smart to even attempt this again in 2-3 months.
I'm not going back over the years of being lead to believe we are close to the finish line only to be told "more work" had to be done and estimated costs to finish drastically went up. It's happened so many times over the years it's laughable that you are even trying to defend it.
You must not work on the corporate/financial/management side of business. I've yet work at a company where budgets are treated as loosely as you're trying to convince me they should be treated. Why bother publicly putting out estimates if there's no reliability or credibility in them? That goes against so many financial and auditing principles it's ridiculous. People use those figures to make financial decisions. If they're useless then why disclose them?
I get that. But management should be working closely enough with the development of the unit that inaccurate budgeted estimates should only be acceptably inaccurate within a rage of reasonableness. Especially those that are released publicly to investors or potential investors who use that information to make investing decisions. Grossly miss enough times and incompetency or "shadiness" begins to enter the conversation.
That is if management's estimates are remotely accurate. Don't be surprised if the amount needed to complete changes and increases for $25 million.
Agreed. Seeing how management can't even get remotely close to cost estimates. I wouldn't loan them a damn dime. It's ridiculous to even expect anyone to loan this management money.
LOL! That's one way to look at it! LOL!