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Try looking at the PPS by multiplying it by 30. You'll go nuts hanging on 1 cent moves.
The Longtai deal closed. Our largest shareholder is now required to hold the stock for at least 120 days.
The big bid is back this AM, now with about 265k shares left to fill in the order.
I think the story will change once we get through the clinical trials at the end of the year. It's one thing to say you have a better robot, and quite another to show data that demonstrates that it's really superior. Shopping the SPORT for partnership/M&A will be easier with data in hand.
That 500k bid is still hanging in there. Basically it's acting as a wedge to keep the PPS above $.11
If you make the bid window just a little wider, you'll see that there are over 700,000 shares on the bid between $.10 and $.11 this morning. Interest on the buying side certainly seems to have picked up, especially with almost no selling today.
I think the most interesting outcome from the OSC posting yesterday is that they narrowed the scope of the shelf prospectus from $80M to $17M during the most recent raise. That suggests to me that they will approach the rest of the financing in some other way than what we've been doing.
Spiffy. Looks like they might be looking at rolling the haptic feedback from Amadeus into SPORT.
Scalpel, see page 4 of the MD&A released just last week for specifics on the clinical site announcement date.
Well, they specifically called out mid August as the timeframe for announcing the other two clinical sites. This week is squarely mid-August, therefore I expect that news. Also might see a second PR announcing the new patent grant.
Please see post #56326.
Not even sure if anyone is still reading my contributions to the board anymore...
Intuitive announced a 3-1 stock split this afternoon. Shares will be more like $300/share as of 10/6/17
The key takeaway I wanted to get across to the board is that public disclosure of the IP behind the robot might be the cause of Titan's silence regarding the robot. A video containing a closeup that reveals how an end effector rotates through a continuum robot has the potential to scuttle a patent app in some jurisdictions. Read the document I posted earlier for specifics.
Please read everyone:
http://utrf.tennessee.edu/PDF/Impact_of_PD%202-16-09.pdf
Interesting standoff between the bid/ask this morning
It will be interesting to see if they can get those $.20 Canadian warrants into the money soon. The proceeds from those alone would carry us into 2018.
Per the MD&A, the other two clinical sites will be announced in mid August (page 4)
I agree with the concern some have expressed about Longtai and their seemingly non-existent online presence. But could the lack of web presence be due to us not searching in Chinese? Can anyone on here look for Ningbo Long Hengtai on a Chinese language search engine?
(My apologies to the Board...one limitation to my research skills is Chinese languages content)
Now THIS is interesting news. Awesome find JMAC!
Before you guys start busting out the champagne regarding the registered address of Longtai being a residence near Ethicon Canada, try Googling for their address "27 WILLIAMSTOWN LANDING." You will find a number of businesses registered to that address...commonly a sign of this being an agent of service for the company.
In all likelihood, Longtai simply incorporated in Canada to make it possible to invest in Titan Medical. Their corporate presence is likely a very basic shell corp in Alberta.
This is actually not all that unusual. Check out the following story about Apple's tiny headquarters in Cork Ireland, through which they run most of their sales to evade US taxation. Just a tiny office that is there to shelter Apple's billions from Uncle Trump:
https://www.google.com/amp/amp.timeinc.net/fortune/2013/11/01/on-site-at-apples-famous-irish-headquarters/%3fsource=dam
What's your surgical specialty FoolishMoney?
Has anyone heard when our second-quarter results will be reported?
TRXC also placed a Senhance system at Florida Hospital, per today's earnings call.
One other thing to watch is Transenterix reporting on Wednesday. Should be interesting to see where they stand on FDA approval for Senhance
A couple new patent applications were posted on Espacenet over the weekend.
Hopefully today's email asking for permission to contact us is a sign of a forthcoming update. "We tied up Steve and broke out the credit cards..." would be welcome news..,
Simple. It's hard to raise as a micro cap. It's an order of magnitude more difficult to execute a raise as a nanocap. I still believe the IP and tech are fine, but the capital markets can't digest Titan's $26M market cap.
Stephen Randall opined recently that taking on debt to complete SPORT would be a bad idea, since it puts the company at risk of losing all the IP if they fail. I wonder if he's reconsidering his words now given the issues they're having raising funds at these levels. Might be time for them to bet the farm...
I don't think the open payments database would ever contain entries for Titan, since they have no corporate presence in the United States.
We somehow missed this very interesting third party analysis of the market opportunity for SPORT that was posted last year. Discuss:
http://www.titanmedicalinc.com/wp-content/uploads/2016/06/Market-Analysis-EXTERNAL-vFinal.pdf
I'm going to guess that the other two sites will be at Columbia University (since they licensed the tech for SPORT, and two SAB members are based there), and IRCAD in Europe (since public records have shown Titan execs visiting there over the past couple of years)
Everyone in the OR and in the industry will get this news. But I think non medical investors will need help/time to understand. "Florida Hospital" doesn't sound very impressive...unless you've done your homework and know what role Nicholson has played in medicine.
Sorry folks...I did a Google Image search on the pic that KS referred to, and found that it's common stock photography.
The logical explanation is that they're all consulting on AirSeal for Conmed. But it does seem interesting that there is overlap between current Titan SAB members and these payments.
The new physician payments data is out...very interesting to see Dr. Patel's and Dr. Advincula's payments shift dramatically over to CONMED in 2016...
My hope is that the patents that Titan secures will not only help them bring SPORT to market, but will become extremely valuable from a licensing point of view to others in the robotic MIS space.
Titan Medical Patent application number 14/261,614 "APPARATUS AND METHOD FOR CONTROLLING AN END-EFFECTOR ASSEMBLY" just posted a notice of allowance + issue documents recently on the USPTO PAIR system, so we will be seeing another issued patent soon. This will be a nice follow on to the patent that was issued last month, "Actuator and Drive for Manipulating a Tool"
The amended prospectus posted to SEDAR on 6/21 lists all of the Q2 milestones as being complete. See pages 9 and 10.
Adding to my last post, it would be strategically interesting for a big investor who recognizes the value of the patents to come in at this point and take a 5-10% stake in the company for a couple million dollars.