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Unfortunately I am also of the opinion that we won't see much more than US$15 to US$20 million raised by this offering. I would like to be proven very wrong.
Seems to me you have "Great Expectations" but what may also be a simplistic view of how this raise should have gone.
That has been my fear, the possible inability to raise even the minimum for the offering. Would not bode well for any short term expectations from Titan.
Jesus Christ, another Rip Van Winkle study!! If as much effort was expended publishing studies that justify the use of EPA, there'd be no room on the board for prehistoric results to be posted.
You've made reasonable points but it is still a dosing issue. In this study, the daily EPA dosage was less than 1.25gm.
Creative bookkeeping????
Where the hell did they sell them, at an Octopuses Garden in the Sea? I can't fathom why anyone would buy Senhance over DaVinci unless they priced it at $100,000.00...Canadian!
Thank you bet_kids_tuition for passing this information along. We'll be looking for the offer pricing on Monday. Frankly, I have doubts that the results of the offering will be what we're hoping for. Unfortunately, it's become difficult to trust anything I hear from the company or any of their representatives. Too many disappointments have left a toll.
Although I hope for at least the $20,000,000 minimum, I am suspicious about how this raise has been handled and how much will actually be sold. We've been through pissy acceptance more than once in the past, I really don't want to see a repeat. I still hold the opinion that Mac rushed the raise but I guess it's possible he knew the PPS would crater immediately after the RS. These thoughts trouble me but like everyone else, all I can do is wait and see. GLTA Longs and Go Titan!
Hey bet_......., you've seen and heard the squawkers on this board for a long time. But you make valid comments based on legitimate DD so please don't let any of them drive you to silence. Most of us out here in the wasteland need more voices like yours so I'm gonna second 66Mustang and encourage you to keep on truckin'. Thanks for all your efforts and GLTA Longs!
Why is this not great in the eyes of the market?
Yes, the ratios you posted SUCK!
You are in the middle, just goes to show how bad off the overall population is.
glg, are you saying you saw an amended registration proposing a larger offering? I haven't been able to find any document beyond the original $25 million. Did I misinterpret your post? Thanks for your efforts!
Zero....they are trying to meet the minimum raise target.
STS, did they identify or did you notice a suggested Source of Supplementation anywhere in this evaluation?
IMO, this will probably not be the successful raise that Mac envisioned. Listing on the Nasdaq is a very good thing but did not guarantee an exponential increase in interest in TMDI. Doing this raise immediately on the heels of the reverse split was ill-conceived without significant PR to support the effect of potential dilution. I agree with 66Mustang that there is a bottom forming as a result of post raise PPS (Market Cap) being roughly equivalent to Cash on Hand. I just can't imagine that this was the plan but ???? what do I know? I do hope we can hold $3.50.
That's just excess stomach acid!
Noun, Adjective Add-VERB!
Hypo,
Keeping the faith is a little rough for many just now, but I'm in for the duration and, fingers crossed, looking for some sunlight shortly.
I don't know where to send but I'd love to see included in the follow-up article that Vascepa is available in both 1gm or .5gm capsules for those who have swallowing issues.
In closeout of discussion, panel invited listeners to send Emails if any questions unanswered and Doc agreed to clarify any of his statements in advance of AF publication. So, broader communication to follow and, if true to discussion, extremely positive!
PS: thanks for the call-in #, me33.
Had someone mentioned that there was an opportunity to participate or listen in on the Adam F discussion this morning?
WHEN THE FDA ATTEMPTED TO CRUSH THIS COMPANY BY RESCINDING THE ANCHOR SPA, IT PLACED AMARIN IN A CRITICAL FINANCIAL SITUATION. DILUTION WAS INEVITABLE IN ORDER TO FUND THE ONGOING REDUCE-IT TRIAL. THAT TRIAL WILL SHORTLY BE COMPLETED.
vs .1726 earlier? Who can say?
Go back and check out HDGabor posts. Very well reasoned.
frequent1 -
Nice to have you on board but I think you're taking a shortsighted view of the financial returns to Mac and Genova. If we were still being run by the old management, you and I wouldn't be communicating. This Board would have expired along with TITFX. Now I grant that there is still the possibility that this scenario may unfold but at the moment I feel like I'm riding on the back of a Phoenix!
How about you? Might as while shut your "cabin door" and come along for the ride!
Good post, good analogy. Thanks!
But the 186 million can only be converted into 6.2 million shares of stock.
You gentlemen IMO both have legitimate ideas about the lack of run-up at this point in the R-It Trial. I also think there might be truth in Biobill's claim that the FDA poisoned AMRN PPS with their treatment of company efforts. But when the results are finally revealed, I believe they will be overwhelmingly positive and nothing will keep the price in check then.
Closer to 1/100 (1/74 actually) of BIIB. Really sad at this point in trial.....
CUIN2 and BigT82 - Voices of Reason!
Thank you gentlemen, and a great weekend to everyone!!
never2late
Thank you very much for posting this. I originally surmised this might be the case since the Broker sites hadn't adjusted the Warrant counts and the old pricing remained but my E*Trade guys claimed to have no information and they haven't gotten back to me with any follow-up. Then I saw the new Warrant Sheet on the website which is very unclear (wrong) on this so that's when I started querying the company. You may have seen the results I've gotten there. I will try once more to get confirmation on this from "The Rock" and post accordingly. Thanks again for taking the time to investigate.
I've been quite concerned and this information helps a lot! Please enjoy your weekend.
Mac and his team appears to be making great progress with the technology but IMHO Communication from the Company has always been and still is an issue. Best to you and GLTA.
never2late
Perhaps my communications have been unclear or misunderstood, but I don't think Mr. Randall has gotten my message. I sent this last reply directly to him:
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Stephen,
I'm now more concerned than at any point since the original announcement of the possibility of a reverse split. If the pricing information at TMX.com is correct, then it appears that the split transaction has virtually wiped out my investment in Titan Warrants. Prior to the split but based on last trade information, my 175,000 Class H Warrants had a value of $7,000 CDN and post split, they are worth $233 CDN. My 50,000 Class I Warrants had a value of $4,000 CDN and post split, they are worth $133 CDN. When you take into account Warrant Price losses of more than 50% incurred over the last 2 years as the stock has tumbled, this split appears to be costing me more than $25,000 US just on these warrants. Could it be possible that the warrants were 2,900% overvalued before the split? What am I missing?
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So far haven't heard anything back on this, but it did trigger my first post on Titan Warrant investors GETTING SCREWED. If anyone has any additional suggestions or thoughts, I'd love to hear them!
never2late
So I sent the following message to Investor Relations through the Titan Website hoping for clarification:
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My thanks to Steve Randall for the timely responses to some questions I had raised regarding my Titan Warrants but there is some confusion remaining. Let me elaborate for a moment on my query. I have been waiting for adjustments to occur on the number and trade price of warrants that I currently own. They are in a US E*trade account and E*trade reflects no changes to these warrant positions. I currently hold 175,000 H Warrants and 50,000 I Warrants in that account. In an effort to clarify how the Titan Warrants had adjusted, I've been looking at Canadian Quote sites to try and understand how post split pricing would be affected.
Since I haven't found any adjustment in the price per warrant, I thought I had it figured out, that perhaps it was determined to revalue the warrants and require that 30 warrants be needed to purchase each adjusted share of TMDI stock at the corresponding strike price. That would have equalized everything without changing the existing number and pricing of warrants post split. Then I saw the revised June 28 Warrant List which clearly indicates that my warrant holdings have in fact, as stated in the split prospectus, reduced by a factor of 30. What I have been unable to find so far on any stock quote sites, US or Canadian, is any warrant price change reflected in these quotes.
I understand from Steve's earlier response to my question about adjusted holdings that shares of stock, warrants and prices were all adjusted to reflect a 1 for 30 split. Can you confirm or refer me to other source that where I previously held 175,000 Titan H Warrants with a unit price of $.04 CDN that post split I now hold 5,333 Titan H Warrants with a unit price of $1.20 CDN? And the same for Titan I Warrants - 50,000 @ $.10 CDN became 1,666 @ $3.00 CDN (I'm approximating these prices to reflect what existed when the split took effect). Is there any Market Quotes site that you can identify to see current pricing? I would be greatly relieved if you could assist in clearing this up for me!
Thank you taking the time to respond..........(Long Time Titan Investor)
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In response, I received the below from Mr. Randall:
Both of these warrants trade, though there has not been much volume of late. I suggest you go to the web site www.tmx.com. If you put in the ticker symbol, TMD.wt.h or .I you will get the latest quote as well as a price history. I hope this helps.
So far, it doesn't.
never2late, everything I read before posing my questions to Mr. Randall was consistent with your post but that isn't what I was finding. So I asked the following questions (see below - responses in red):
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First, I'd like to know where I can find pricing information on Titan Warrants now that the Reverse Split has been completed. Please see Titan web site at www.titanmedicalinc.com, , Investor page, warrants.
Second, since the warrants have also been subjected to the 1 for 30 Reverse Split, should the pricing on warrants also reflect an approximately 30X increase in price per warrant? Correct.
Finally, can you name a few Canadian Brokers where I might open an account that I can use for trading in Titan warrants? Raymond James, Canaccord Genuity and GMP. These are large brokers that service retail customers. They have offices in most large Canadian cities.
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The Warrants page doesn't have pricing data and I couldn't find anywhere a published price adjustment so I still needed clarification. I went back to the Investor website to ask a few more questions. (See my next post)
Thanks BigT and thanks also for helping to keep the positive from being overwhelmed by the negative on this board. There's no question we still have issues but there's also no question that progress is being made. It's pretty clear there are still many here whose agenda is questionable so it's more important than ever for the objective voices to be heard,
IITF - TMDI Warrant Question....
Apologize for my ignorance but who are you referring to as The Rock? I got some of my information from research and the rest from Stephen Randall.
Thanks for the update on this weeks numbers Sam! I really appreciate the effort you make every week and the monthly and other cumulative numbers as well. Will be buying you numerous Cocktails of your choice in Vegas!
Apologize for my ignorance but who are you referring to as The Rock? I got some of my information from research and the rest from Stephen Randall.
I've been researching an issue regarding Warrants that has a significant effect on me but probably will also impact many additional board posters. I've been trying to reconcile Warrant Pricing Pre and Post split. What I think I've discovered is that all of the listed Warrants that have been issued to date have no intrinsic value and are essentially worthless.
There has been no price adjustment or increase for any of these warrants even though our ownership has decreased by a factor of 30. What this means for example is that if you had purchased 50,000 Class I Warrants just prior to the R/S, you would have paid $.10 CDN per warrant or $5,000.00 CDN total. If you try to sell these warrants today, you would receive $.10 CDN per adjusted (50,000 / 30 = 1,666) warrant or $166.60 CDN total. I think that represents a 2,900% loss.
Where you could have purchased 50,000 shares of TMDI at $.75 CDN per share or $37,500 CDN total you can still purchase 1,666 shares of TMDI at $22.50 CDN per share or $37,500 CDN total. I would love for anybody else to do this analysis and find I am mistaken but if I'm not, we Warrant Holders have been COMPLETELY AND THOROUGHLY SCREWED by this transaction.