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One would think the volume would be better on AGM day!
Dice/ORNurse/Mharb:
Catching up here... I prefer to keep my evenings for things other than work, and this board really gets to be work!
Anyway, first, I clicked the link and opened the agreement. I hit ctl-F (find) and typed in "redacted"; it shows 134 instances of the word "redacted" in that document! That's a lot of hiding of stuff!
In my multi-decade medical device development career, I have never heard of software itself referred to as "prototype"; at most, there has been software developed to run on prototype hardware, but prototype in my experience always refers to hardware. There are various software development models (e.g. SCRUM, Waterfall, etc.) and within those models, the only time a development phase has ever been called prototype was in a Spiral model, but it was so early in the development that it would be completely unrelated to any deliverable. So for the context of the heavily redacted agreement, they cannot be referring to software when they say prototype.
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https://www.sec.gov/Archives/edgar/data/840551/000115752320000865/a52230799ex99_4.htm
I think you have the wrong guy here... I never tried to tie us to Ethicon. If I ever made any such statement, it would have been in a list of potential suitors, with no actual expectation that it would be them specifically.
You've marketed medical devices? You should have written to Mr. McNally as soon as the you saw the first "E" of Enos! Yeah, I was never a fan of that name choice either. It only brings to mind the dopey (but kind-hearted) Deputy in Hazzard County.
But in reality, it is so dumb-sounding that it almost HAS TO have some other purpose. For example, Medtronic's robotic system has been presented at various times with names Hugo and Einstein. Hugo, another 4 letter, 2 syllable name, could serve well as Enos's big brother. Alternately, the Enos and Einstein phonetic commonality is fairly obvious as another potential pair to be marketed together.
So, now, if only there was some other commonality between the marketing forces of Titan and Medtronic... something, anything, that they could have in common... Gosh, who... I mean what could those two marketing departments possibly have in common... A real head-scratcher for sure!
https://www.linkedin.com/in/sachinsankholkar
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Oh yes... thank you for reminding me... I’ve marketed medical devices before and believe me “Enos” as a brand name would not even been my pick..... seriously, TMDI’s marketing team could’ve come up with a better slick name other than short of “ Anus”... “ Enos”...come on... who is in charge of the marketing at TMDI....
I get it! They are down over 300% from where they would have been if they held instead of selling at 25 cents!
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.80 or 300+% over 25 cents.
Sorry again ShortsRClowns... didn't mean it as a personal slight; it's just that there is so much of that negativity, it all kind of rolls up into a big lump and it can be difficult to distinguish one source from another without digging back through old posts. Some folks do that all the time, research posts from years ago and try to leverage it against someone. I typically prefer to look forward more than back, especially wit this company that certainly has a dark park but a bright future. Most of us are below our cost averages but some of us remain optimistic in Titan's future and I'm glad to see you are on that side of the equation.
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Just to clarify the record, I made the "BS 57 = 50" you referred to and since I haven't sold a single share since I bought pre r/s it can't be a failed investment as you indicated or by your standards.
However, since I am still at a loss in my investment I guess one could make the case it technically is a failed investment to this point in time but with my pps cost basis being so low and I don't expect it to be negative for long.
Please get your facts correct if you call me out. If it does tank I will buy as that has been my strategy all along, buy on pullbacks <$1.
I'm glad you are also amused by my 50X score with ISRG! Not fifty cents. fifty TIMES my initial investment. Well, honestly, slightly more, but that's a sufficient score for reasonable bragging rights. Yes, I find it very entertaining and I'm glad you do as well. If being an "investor village idiot" nets me another 50X on my investments, call me whatever you want. And I'll start calling you the guy who sold your Titan for a quarter.
You think I'm the guy talking sh#t? Get real.
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Here’s a failed investment strategy one the investors village idiots did....
Sold his I$RG shares to buy Titan!!!
RTFLMAO!!!!!!!
Just for the record, and for those of you who might think a little more like I generally do about the future of this stock...
I have no expectations of anything positive to come from our AGM. It will be a "Mr. McNally Business As Usual" meeting; announce voting results which will include institutional share votes that far outnumber what we collectively own, so RS is on the table and folks with backgrounds we don't exactly fancy will be announced as new board members. Naturally, the stock dips accordingly in this prediction.
Oct 14 COULD be a big day for us. Mr. Martha says almost ANYTHING about Titan and we could get anything from a pop to a major run. We ran over $1.50 (from what, under .25?) on the original announcement back a few months. Any updates from MDT, or any indication that they are still on board with us and our project, could be taken very positively by Mr. Market.
So some of us will sit back laughing because during the post-AGM tankfest, a bunch of folks are going to bail on some or all of their holdings, dunking our PPS substantially... Hell, maybe the REAL fifty cents will be in range (instead of the "57 = 50" and "25 is the same as 75" B.S. some folks like to throw around here so they don't feel so bad about their own failed investment strategies)... but in far less than 30 days from AGM, we could see a real run, and a little smirk on Mr. Martha's face could be more telling than they want it to be.
So y'all have a good weekend, and hopefully we'll all have a great October surprise!
My math says you were closer to 14% improvement if no other fees or penalties (assuming approximately equal number of shares at .67 and .69).
I guess you aren't believing the current chatter about 50 cents before a dollar? You could have been up around 37% if you waited for fifty cents. Or you could have never bought back in at fifty cents, depending on what you believe. I'm guessing it's the latter, since you didn't wait for fiddy cent. Welcome to the bright side!
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I sold at 79 cents. Bought some back today at 67 cents and 69 cents. Do the math. That is a 10 percent savings. You do any scooping today Adrock or are you a bag holder?
Maybe we have a business co-development project which includes trying to optimize the use of floor space for our development partner who currently needs one big cart/pod for each arm of their system. Just a thought.
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Why are we working on Amadeus? Spending money we don't have on a platform we scrapped while pps continues to fall and a reverse split vote is on the table?
Wouldn't it have been helpful to investors to give them an update and let them know they are continuing to work on Amadeus as it will add to the value of the company and enhance a possible buyout situation??? It would increase investor interest and excitement and reduce the short selling.
And we have to hear it on Stocktwits, the new TMDI website I guess.
Wish I had some lube. Been taking it up the ENOS for 10 plus years.
You can't make it up.
Ohnototo, were any of these surgeons at any of the three Centers of Excellence which were used for the initial trials 2 to 3 years ago?
And ShortsRClowns, hopefully they haven't lost contact with the specified four hospitals and "key opinion-leading surgeons" over the past 6 months, given it takes about that long just to prep for such a study. Given that there seemed to be some slight refinement of the end-effectors and/or some instrumentation (I forget exactly the wording) for which they announced completion around the end of July, but presumably these will be utilized for the studies. Those types of changes (using a different disposable end effector) conceivably would not have a huge impact on human trials schedule; I'm guessing software and software validation are probably the gating items at this point, unless MDT threw in a few more "goals"...
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Feb 2020: “Preparation for IDE submission includes extensive planning for these studies, which is already in advanced stages having identified four hospitals and the key opinion-leading surgeons who will perform the studies…" McNally (Source link below)
Again, this was at the beginning of this year so include this into my previous post (116213) analysis. Just educated speculation on what could be around the corner. No statements of certainty, no anonymous sources...straight from the sources mouth:) Whether you believe MC is a different story. GL longs!
https://www.massdevice.com/titan-medical-may-put-itself-up-for-sale/
Ohnototo... What is your source for this information (that it has not happened yet)?
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Shorts... wouldn't McNally and his team reach out to the physician group for the IDE studies and human trials. I understand this has not happened yet.
That would be a negative number.
Example: If price was $100, a 300% drop would mean a drop of $300, to a value of -$200.
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That is IF it's just a 1:10 RS...YIKES! 300% drop in value over two RSs.
HeadsUp, pmont, and anyone else I may have slighted yesterday... My apologies. It was just a crappy Monday all around. When Titan picking up two cents is the bright spot in your day...
Anyway, a better start today, Titan's already up a couple more cents right out of the gate. 70's are better than 60's (except for muscle cars and maybe music!). And the Dow isn't tanking either. Hopefully the momentum will continue and overcome those who profit from falling PPS.
HeadsUpSomethingorother, I expect that from you...
pmont, some posts are just well written enough and cogent enough, putting together enough pieces of a puzzle for me to believe they understand the bigger picture (not intending this to be an extended puzzle metaphor; it just came out that way). I think he gets it, and yes, I'd like to hear from him more often because I think he might be able to shed some light on how these types of transactions are ultimately conducted. He wasn't suggesting WE do anything in particular, so no reason for me to doubt his motives. I like seeing more extensive industry experience around here; it adds value to the board overall.
This is easier... and much more useful!
https://investorshub.advfn.com/boards/profile.aspx?user=752423
This has a list of Facetrain's posts. Informative, and includes his analysis of Titan, their value (patents separate from company/products), and some of his background. He was another poster with a very solid industry background; from Germany but all applicable info.
Facetrain, if you're around... I hope all is well!
RBMILLS88, Welcome to... well, here, anyway! It's not exactly heaven and it's not entirely hell... But welcome!
It's great to have another voice of reason and experience; there are several here but as you surely know, there is still much dissent as well.
I consider myself very lucky to have amassed about 70% of your Titan holdings and I'm looking forward to the future of this investment.
Speaking of due diligence (as you were), earlier today I was reviewing a bunch of Mazor press releases from 2016 forward, and laughing at how many Medtronic people became nested into Mazor, with PR's to boot, so the public would have no doubt that acquisition was imminent. Were you following that deal at the time? Maybe you can share some additional insights and commonalities, as well as your perspective on lessons Medtronic may have learned about keeping things a bit more under wraps to minimize buyout price. Or maybe you have a completely different viewpoint on the matter, in which case I'd still love to hear your opinion! Are you in it at this point for a buyout, or are more inclined to think Titan leverages the Medtronic relationship just enough to try to go it alone?
That "loaded spring" theory sounds exactly like what Rollgard1 has been preaching around here. I'm looking forward to that day as well!
Also, do you have any presumptions or guesstimates on a timeline? Just wondering what others may be thinking!
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I'm typically reading posts for DD purposes but not writing them. However, I feel it's worth commenting at this point. I believe Roll is correct in that the RS is a good housekeeping vote and will only be used come next February if the company is still not NASDAQ compliant and is subject to being delisted. Even then the company can ask for an extension of time. If the stock trades above $1.00 for 10 consecutive days then the clock is reset. In all likelihood the stock would be $2.00 today if not for it being controlled/negatively influenced by the SHORTS. Some event in the future will cause a short squeeze and this stock will act like a loaded spring. Background is 20 years on Wall Street doing biotechnology and medical device deals. I have pretty good experience when it comes to these situations. Also, long 150,000 shares so I only have one agenda -- make money and I don't believe I'm chasing fools gold here!
The Dow is in the dumper over 500 points down, but we are up. Even tapped the 70s a couple times. I call it a win, no matter how short-lived it might prove to be.
As much as anything, it may reflect a message received by Titan management that we need more information. Could be a turning point in that regard!
MDT is still using the Mazor name with the Mazor X system which they co-developed. Mr. Sankholkar's switch to MDT may be one more hint that they are following a very similar path with Titan.
Pharmmoney pointed out elsewhere that at the end of the 2019 AGM video, Mr. McNally said the re-branding would be rolled out when they are ready for human trials, so by tying those pieces together, I'd say we are in pretty darned good shape.
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No assumption of anything - pointing out the obvious that Medtronic gave the go ahead for Titan to announce the rebranding now that Sachin is handling upstream marketing for Medtronic's Robotic Systems. If Titan were going to be rebrand themselves, Sachin would have stayed on and handled the rebranding, instead he is going over to Medtronic to work with their team on the ENOS rebranding.
All the text written by lawyers says "brand identity." His quotes are always saying "brand identities", plural. Anyone have any guesses why?
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Titan Medical Reveals New Robotic Surgical System Brand Identity and Updated Corporate Brand Identity
Source: Business Wire
Titan Medical Inc. (“Titan” or the “Company”) (TSX:TMD) (Nasdaq:TMDI), a medical device company focused on the design and development of robotic surgical technologies, announced today the launch of a new name and brand identity for its robotic surgical system under development, the Enos™ robotic single access surgical system.
During the coming weeks, the Company will gradually transition to the new Enos brand identity, including on its website and in presentations and other corporate material. Along with the change to the identity of its surgical system, the Company will transition to an updated corporate brand identity that, while retaining the Titan Medical name, complements the Enos robotic single access surgical system.
Enos, translated from the Greek language, has the meaning “of one,” which aligns well with Titan’s commitment to single access surgery. Working with an industry-leading branding team, the Company determined that while it should retain its corporate name as a valuable asset, the use of “SPORT” as an identity for its surgical system did not accurately reflect the Company’s values and beliefs and the uniqueness of its technology.
“We are excited to share the renaming and branding of our single access surgical system,” said David McNally, President and CEO of Titan Medical Inc. “While our technology focus remains the same, the Enos identity better reflects the Company’s belief that a single incision and simplified approach to surgical procedures is better for everyone, bringing immense potential for expanding utilization and the elevation of the standard of care for patients around the world.
“The new brand identities demonstrate the evolution of Titan Medical and what we are seeking to accomplish in the robotic assisted surgery space; to become the new standard of care in robotic single access surgery,” McNally added. “As we have successfully leveraged our in-depth robotic surgery expertise, technology and intellectual property to establish strategic relationships, and as we have recommenced the development of our surgical system, we believe now is the appropriate time to launch the new brand identities.”
Wait a minute...What you are saying here is that Titan needs to continue on as if MDT doesn't matter... But if MDT in fact DOES matter, would that not definitively be... a RUSE?
Sure sounds like it to me. But I wouldn't make those claims around here because the concept seems very offensive to others.
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This is what interests me...
"The Company has also received notices of allowance in 17 other patent applications and accordingly anticipates their issuance in the coming months."
Are some of these patents part of the "milestone" requirements? MDT may just be waiting for some specific patents to be issued before they move forward with a buyout. That would explain why Titan needs to continue moving forward as if the MDT partnership doesn't matter.
It's legit... not just the news, but they actually PR'd it as they should and need to do!
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FAKE NEWS!
Where did Facetrain go??? Seemed like a good guy with great industry experience and willingness to share.
If you're out there Facetrain, drop in and say Hi!
FatDon, I can't say definitely; there's never a guarantee. But here is an Edgar filing of the Schedule 13G filed within the allotted period and showing one person/organization taking ownership of 4.99% of Titan's outstanding shares of stock, just under the ownership limit for much more massive paperwork and responsibilities.
https://www.sec.gov/Archives/edgar/data/840551/000091957420004202/d8560694_13-g.htm
Then here, the 18M shares became 6.5M shares and 11.5M pre-funded warrants; this keeps actual share ownership below some threshold and the rest is pre-funded warrants - paid the cash but haven't taken ownership yet. Subsequent text makes a provision for different share/warrant balance based on the buyer's desire to stay under the 4.99% threshold.
https://www.sec.gov/Archives/edgar/data/840551/000115752320000886/a52232457.htm
From page S14:
"THE OFFERING
Securities Offered
6,500,000 Common Shares, 11,500,000 Pre-Funded Warrants, and Common Warrants to purchase 9,000,000 Common Shares.
Description of Pre-Funded Warrants
If the issuance of Common Shares to a purchaser in the Offering would result in such purchaser, together with its affiliates and certain related parties, beneficially owning more than 4.99% (or, at the election of the purchaser, 9.99%) of our Common Shares following the consummation of the Offering, then such purchaser may purchase, if they so choose, in lieu of the Common Shares that would result in such excess ownership, a Pre-Funded Warrant to purchase Pre-Funded Warrant Shares and one-half Common Warrant. Each Pre-Funded Warrant will have an exercise price of $0.0001 per Pre-Funded Warrant Share, will be exercisable upon issuance and will expire when exercised in full."
Who besides Armistice took ownership of the 4.99% of outstanding shares? I couldn't find such a filing in Edgar. Only the Armistice one. But everyone is free to do their own research; I'm just telling you why I believe what I believe on this matter.
BTW... your recent alternate venue allows private messaging; I'm not sure why I decided to post this publicly here but... Some inquiries and replies may be better suited to the alternate forum, lest our posts get attacked by folks who wish they weren't true. It happens.
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So the 18m was Def Steven Boyd and Armistice ??
Optimist, the worst ideas are the ones that are never shared, as that fact alone bans them to the recesses of one closed mind!
I would actually start with your brother-in-law; if he has no interest, then it is answered. If he may be interested in more info, it is probably incumbent on him to reach out to Mr. McNally via email (david.mcnally@titanmedicalinc.com) with a proposal and maybe a resume attached. Someone with his experience can probably fine-tune a proposal with specific points and direct knowledge of the types of investment/investor strategies which Titan could become interested in.
If indeed Titan's financial future is actually pre-determined at this point by higher powers, then a quick rejection of the proposal might occur. But if there is an ongoing need for that type of service, Mr. McNally should at least be willing to hear a full proposal.
Never hurts to ask!
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Good post 66 Mustang. I have what probably is a far fetched idea, but if anybody knows any of the Principals at Titan, it might be worth a shot. My brother-in-law is a Director of a NYSE traded stock called Inspire. He is the medical expert(He is an M.D.)that the Company appointed to their Board when they went public about a year ago at $18/share. The stock reached a new inter/day high of $131.16 yesterday. He has many relationships on Wall Street, and knows how to navigate that landscape and attract $$’s given a viable product. In Inspire’s case, they manufactured a novel product that is an alternative to a C-pap machine for those people afflicted with Sleep Apnea. Not everyone can adapt to wearing a mask and using a C-Pap machine, so Inspire has successfully marketed their alternative product. Mr. McNally may be very bright and understand his product, but I am very unimpressed with his leadership and ability to attract Sponsorship and Investment $$’s from Wall Street. Given the opportunity from Titan, my brother-in-law might consider the challenge. I just don’t know how to make the appropriate connection. Is there any merit to this idea? Any ideas?
I've been in it since they started developing the snake arm/single port solution; I wasn't a fan of Amadeus because it didn't bring anything new to the game in my opinion, and I saw potential patent infringement issues at the time for Amadeus as well.
I don't think Titan has given anything away just yet (except for a lot of shareholder confidence!) because I am still convinced that Medtronic doesn't want to compete with the same tech they are offering to the market, and Titan still owns those patent rights (plus another 86 or so patent applications which should continue rolling in over the next year). If Medtronic doesn't buy us out, then Titan's resources would surely be unable to compete with them, but JnJ or any of another handful of biggies could easily step up to the plate, which Medtronic surely doesn't want - the only way to protect themselves against that is to buy us up front. Even ISRG could look to upgrade their SP with snake arms that move more "intuitively" than their current cross-over linkage system. Plus lens wash patent and second 2D camera, so they aren't removing the camera for washing every 15 minutes, or losing visualization of the site if it absolutely needs to come out for cleaning... ISRG would probably love that as well, especially if Medtronic uses those Titan-owned features.
I don't know what Steven Boyd knows... but it's nice that I can stop calling him Steven Blow, now that the Armistice cat is out of the iHub bag. Anyway, there are certainly limits on what they can legally share with any potential investor, but but they had to somehow hint at just enough to convince him to cut loose with $18M for a company that was having a tough time getting $1.5M chunks prior to that. And considering Armistice's investment in Medtronic is not inconsequential either (somewhere in the $50M range), maybe he was in a position to piece together story lines from two sides giving him a unique set of data points from which to make an $18M conclusion (Please don't misunderstand me; I am not suggesting any impropriety ever occurred here). To me, that is an $18M vote of confidence that my own investment will turn out very well.
The uncomfortable reality we are looking at today (specter of RS plus questionable BOD selection) could be a by-product of our inability to know the behind-the-scenes reality, the extent to which Medtronic and Titan have already decided their collective futures.
Like a nasty kidney stone, this too shall pass! And cause comparable pain in the meantime...
Glad to have another like-minded iHub poster with whom to converse intelligently!
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Thanks 66 Mustang. I have been in this name for years and have been reading all the posts on this board on a daily basis for the last year. I particularly enjoy yours and Rolls posts. I fully understand that Rolls has been off with some of his recent predictions, but in all due fairness, who knew that Titan was going to include the R/S as an agenda item at the AGM? I am on the Foundation of a Major Hospital and was introduced to this stock by a group of a surgeons that had invested prior to the last R/S. Obviously, they haven’t faired to well. But, they convinced me of the desire and demand for a single port Robot in the market today, and that Titan’s Sport prototype is sound operationally and they had high hopes for it. Unfortunately, Mr McNalley and his supporting cast was unable to garner real interest in the Investment Community over the years, resulting in multiple small Offerings and much dilution. But, he did bring Medtronic to the table. This issue is, did Titan “give away the ranch” for the 1.5M Loan and subsequent Licensing and Development Deals? The obvious answer is, if Titan makes the respective milestones and Medtronic buys them then Titan cut a great deal. I also wonder what Stephen Boyd knows that led to both his and Armistices significant share purchases? And as many have pointed out, why don’t the Insiders have skin in the game? If there is a deal in principal that has been worked out between Medtronic and Titan subject to Titan teaching the milestones, then McNalley and his key people can be rewarded with Medtronic stock/and or options. A lot of questions, a lot of secrecy going on here. We shall see. .
I didn't think the vote was necessary at all for RS, just a courtesy or maybe because they know the bigger holders will overrule us little guys easily, so it's a better public perception if they can say "Well the shareholders voted for it..."
Between the RS and their new Bankruptcy Specialist chosen for BOD, they seem to have removed any chance of breaking a buck, even with upcoming milestone news. But hey, think how cheaply MDT can buy us now!
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To be honest I think they MAY have had a chance at trading over a dollar for at least long enough to be in compliance UNTIL they dropped the RS bomb on us.....
Couldn’t they have called a special vote on RS at a later date if necessary?
Welcome Optimist_1! I like your ID name; I have shared the philosophy for a long time now but my last few letters to Titan management over the past week might tell a different story. I still hope your apparent faith in this company proves correct! I'm also holding a substantial position here with no plans to sell - I'm a Murphy's Law kind of guy, in that Murphy follows me everywhere. If I sell my position, the buyout will be announced the following day. So I cannot.
TD Ameritrade should be able to provide the documentation you need, if that is your only investment venue for this stock.
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I am a new member of this board and this is my first post. For better or for worse, I have a substantial position in Titan stock and am committed to holding it until prospective buyout. I am opposed to another reverse split. How do I vote the proxy against this? I’m holding this stock in an account at TD Ameritrade. Do I call them and ask for the necessary documentation to sign?
Sorry to disappoint you again SPORT, but I agree with you here, on both counts.
If they have time to doink around with investor conferences and expansion of Chapel Hill, they had better have exceptional confidence in their ability to meet the next milestone, which is imperative.
And yes, if they screw that up, they will have just severed their only lifeline.
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They will need more news then confirmation of getting the $10m
I feel most think, including me believe it or not, that they will get it.
It’s kinda baked in IMO
Now if they DONT get it it’s lights out
From Mr. McNally:
"We... consider the option to be a backup plan to maintain Nasdaq listing compliance if the share price does not otherwise trade above $1 for ten consecutive days, prior to the deadline."
Others have received the same reply, verbatim.
I would have preferred to hear what the PRIMARY plan is, rather than just the backup plan.
Today is 9/15 in a 30-day month. 10/14 is 29 days away. Anyone selling today or in the next month "to buy back cheaper" is at HUGE risk of getting burned, should they actually have any useful news by then.
I do not support a reverse split.
If there is a reasonable argument for remaining on the NASDAQ, it is to the ability to raise more funds from some investment organizations. Had we not been on the NASDAQ, we most likely would not have gotten the $18M and therefore would also not have any sort of deal at all going with Medtronic.
But do we, as a group of shareholders, really believe we have the share count to prevent it? And is this vote even binding?
The likelihood of us having enough votes to reject the reverse split is pretty slim. I figure their ability to do a reverse split is pretty much assured regardless of what a handful of private investors whining on a message board can do. And when the vote is over, they will basically have "permission" from shareholders to do a reverse split; the actual reverse split is not a sure thing even if the vote passes it. But I'm sure this board will still light up with intense negativity when the voting results are announced. And if they do the reverse split later, that's just another opportunity for whiners to do what they do.
How many people here have written to management? Of those emails, how many offered positive suggestions on how the company could raise the share price without a reverse split? Or how many were even civil, offering rational reasons for "why I don't want a reverse split" or "Why I don't think Mr. Vance is a good choice" or anything else that is potentially helpful?
I wrote. I received a courteous reply indicating why they believe they need to have the ability to do a reverse split (only if it becomes necessary) and why they fully support Mr. Vance's nomination.
I would still prefer to see/hear a plan as to how they can maintain NASDAQ compliance without a reverse split. And I will be writing again soon to ask, and even offer some suggestions in that regard. I would suggest those of you who can write a civilized business communication also do so. If you choose to do so, don't just make up fictional numbers because they know the real numbers (for example, Mr. Sankholkar's 8 year tenure with Titan Medical actually went by in a mere 4 years and 8 months - they will know if you are lying to them).
To those of you who might actually be inclined to try to help, thank you in advance.
If Medtronic allowed it to be public knowledge that they were buying Titan, then Titan shares would skyrocket and cost them waaaay more than they would otherwise pay. So they cannot publicize a future buyout if that's what is in the works. They just can't.
But if they don't, they are at risk of having to compete with the technology that they will be offering. Same tech, two companies (maybe three) offering it, means price wars, low profits, hence absolutely foolish business move to allow the possibility. Whether they would be competing against Titan or against whoever subsequently might buy Titan, they could be forfeiting half to two thirds of their potential market share. Is there a logical argument to support this possibility? Or does it seem more feasible for them to plunk down a couple or few billion up front to be the sole viable competitor for ISRG? Feel free to put some ballpark numbers around any such supposition and a clear pathway should emerge.
Feel free to share your numbers here!
Just something for the doubters to consider.
Timteo, glad to see you have my back. I do thatn you for that.
But honestly, when anyone contributes useful information without it being a hit job, I actually appreciate the reply.
So SPORT19... Thanks to you also, and I hope you both have a good weekend!
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Somehow I don’t think he was asking you.
Just a guess.
Clever! Now that harkens back to the Longtai deal days...
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It’s on Paige 9!
M&A??? What could THAT mean???
Probably not Modeling & Analytics for that kind of a deal.
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Yes. Senior Legal Director M&A
Just so everyone is ready for Monday...
Some folks will be all excited about the two investor conferences. Very little is likely to be said about the MDT/Titan situation.
Those excited folks will then be perturbed folks because there is no big news. Share price slides into the low- to mid-.60s range, maybe worse. Everyone then complains because they "didn't see it coming" even if they were the sellers. (insert eye-roll here.)
Mr. McNally is likely to make one or two perfunctory references to Medtronic. But he might have been told to avoid any mention, in which case he will try to keep quiet about it. It would be humorous if he references them indirectly without using the company name!
Mr. Martha is likely to not mention Titan Medical at all, but might accidentally slip and it spills out once or twice. (He will be smiling at the mention of Titan if it should slip out. He can't help it.)
OUTSIDE CHANCE at best, but still within the slim realm of possibility, is an announcement of milestone achievement, hitting the October milestone a month early. If so, we see a pop, maybe into the .90s but this alone won't shake the tree enough to drop the NASDAQ de-listing threat.
Mr. McNally won't make any comment about the threat of de-listing; it is an investor conference so the intent is to stir up investment capital, not chase it away. Some people will call him names for not "being up front" about it because they don't understand this simple concept. But people will call him names no matter what, so I guess that doesn't really matter.
I'm just saying overall, don't get your hopes up about Monday. Anything positive to come from either presentation is all a bonus, but the relationship isn't likely to be a featured item in either presentation. Too early.
And although I would typically, facetiously, refer to this outward diminishment of the relationship as "keeping up the ruse", I know some of you out there seemed to be really bothered by that term so I shall not say that here. (oops.)
FatDon, somewhere in the minutia of the wads of paperwork generated around the Medtronic deal and the $18M funding milestone being met the next day, there was an indication that the $18M sponsor was capping the actual transaction at the 4.99% ownership threshold and the balance was a purchase of basically pre-funded warrants, exercisable for some teeny fraction of a penny, with like a 5 year expiration date.
So looking at the more obvious information regarding that funding deal, we know Titan got $18M to meet the milestone. We know Armistice bought $3.5ish million $$ worth of shares, which had to be declared. So the questions become...
If someone else bought $18M in SHARES, why did our outstanding share count not go up by that much? (answer: balance in pre-funded warrants).
If someone else bought the $18M in shares, why was a nice $3.5M side deal by Armistice not separately announced or PR'd? (they have PR'd smaller buys in the past; ask the Surgeon-led placement folks...)
If someone else bought the $18M in shares, why has no other paperwork or filing come to light to show details? (answer: oh, they have 30 days... no, wait, it must be 60 days... Oops, I think it's 90 days... well here we are 90 days later and no additional investor group has come to light with required paperwork.)
We have been given pieces to a puzzle, and I can only find one way for all those pieces to fit together. And I'm typically pretty good with puzzles!
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So 66 you are confident it was armistice that acquired the 18m ? Someone said the filing on the 18th of june was just to demonstrate voting shares .
T=R, I will vouch for Roll's integrity. He says what he is thinking, not to play any games but to share what he sees happening based on years for investment experience. He seems to be a guy who likes to help make good things happen when possible.
To his subsequent point about folks here selling/swapping the stock, dragging the share price down, and then blaming the company - I see validity in his point there. It's like cutting off someone's foot and them blaming them for not being able to run fast enough for your own edification. Okay, you didn't sell THAT many shares... You only cut off the guy's big toe. But it's his fault. Overall trading volume day after day has still been quite low; the summer lull doesn't appear to have quite ended yet. So when someone sells 10k shares or 20k shares hoping to re-scoop them later at a lower price, they may have just transacted 5 to 10% of that daily volume as the seller. But the slip in price that day must be someone else's fault, right? Check the mirror first.
As for a few other recent points expressed here, I'll ask... if your name was Steven and you had $18M to invest at your discretion, and Medtronic is already in your top ten list of investments, why would you not just beef up your position in Medtronic, or any of thousands of other possible investments? Why would anyone pick Titan for that $18M? You don't grow a portfolio 40% in 6 months by choosing investments with a dart board. You dig. You research. You consult with folks at several different companies you are considering investing in. Maybe they invite you in to see what their robot does, the direction it's going... and who else is buying into their tech. THEN you write up the $18M investment into little old Titan Medical. When someone's vote of confidence includes putting their money with their mouth is to the tune of $18M, there must have been some truly compelling reasons to think your investment is worthwhile. Wish I had been there! But the result is undeniable; the investment was made in Titan. Because Steven knows more than we do and he lets his portfolio do the talking.
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I totally understand how you feel lately, maybe you should ask mustang what his feelings are about roll since so many on the board are questioning his integrity.I for one would like to know his thoughts.
SRC, I don't truly consider it a complete "ruse" in the classical sense; I don't believe they are trying to pull the wool over anyone's eyes except for acknowledging the end game. I believe they know how the story ends, most likely via private communications and discussions. Some folks climb to the top by stabbing others in the back, and some climb there by doing good, honest business dealings with solid strategy and market understanding. I believe Mr. Martha is firmly entrenched in the latter camp, running one of the top med device companies on the planet before his 50th birthday. That level of visibility takes down the shysters pretty quickly, leaving shrewd but honest businessmen at the top. If Medtronic builds a reputation of screwing over their business partners, his legacy would be very short lived.
For now, there is no buyout, and both organizations are continuing on as such, as it should be. As it has to be. I'm figuring the two possibilities are that they both continue on, not necessarily just until the publicly-known agreement completes, but possibly even afterwards; they could have additional (implicit or verbal) milestones required before acquisition. Maybe Titan needs to sell 50 or 200 Enos systems to prove viability in the marketplace. Maybe there will be a joint marketing agreement in advance using shares sales resources. Look more closely at the Mazor agreement to see the transition model they used. There is a Sticky above to post 110169 with a list of links showing how that progressed. Note item 149 in which Medtronic assumed global distribution for Mazor products a year before acquisition. Now a proven model, but with the unintended side effect of a Mazor share price run-up. I'm sure they are doing the math to see how they want this to play out and whether or not they need to revise or optimize that model.
The second possibility is a shortcut; at some point and for some unforeseen reason, MDT might just say they have enough info and enough confidence in the technologies that there is no reason to delay the inevitable. Early acquisition would allow them to concentrate more of their own resources into the development of both product offerings and get them to market even more quickly. It also would allow for a more economical acquisition solution, because as Titan progresses with Enos, the inherent value increases, so MDT's cash outlay may need to increase proportionally. But the motivation for early acquisition could just as easily be an outside factor, like the upcoming election leading to reinstatement of Obama administration officials who bitterly fought Medtronic's move to Ireland and lost in court. Who knows...
So in the meantime it has to be business as usual, we attend the occasional investor conference, we try to maintain the NASDAQ compliance by whatever means are necessary... Their reps are enmeshed in our board meetings and the joint oversight panel, maybe to ensure Titan doesn't try to screw THEM over! Both sides have some vulnerabilities right now and neither wants this to go south.
If Mr. Martha wants to maintain the respect he has earned in this industry, this can only play out to one conclusion. If, on the other hand, he somehow screws Titan over, nobody will want to play with them again, and his self-declared legacy of acquisitions will dry up faster than a Sequoia in a California wildfire.
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Thx 66, still foggy on the 'ruse' (looking independent) and/or keeping pps low and r/s thing. So TMDI states that a r/s will be up for vote this month but come next month a milestone, which we don't know what it is, will be met and this will provide $10M dollars to TMDI. In addition, MDT's CEO will speak on the 14th of October about robotics which must include the partnership with TMDI and most likely the progress made. So we are talking about a 1-2 month window.
I am having trouble connecting the dots on TMDI attempting to look independent by business as usual by announcing a vote (just an unnecessary vote) on a r/s and then a month or so later all these positive developments from the MDT/TMDI partnership. Again, if true it will drive TMDI pps higher eventually hitting the 10 days > $1 and being NASDAQ compliant. Maybe there is a NASDAQ deadline in that month or so gap I am not aware of, possible.
What strategic benefit is between the vote on r/s announcement and the October news that could be had by this 'ruse' or attempt to keep pps low? It's not like the pps has been hopping as of late so no fear of it getting out of control before milestone is hit. Lets say price takes off after October news, is the r/s vote supposed to stop ppl from buying in an attempt to keep pps lower? I'm a simple man, maybe a little slow as well, but still doesn't make a lick of sense to me what is going on.
Thx. I remain long and confused:)