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I also confirmed today that Titan is not on the 2017 exhibitor list for SAGES (confirmed by downloading the SAGES 17 app and checking the exhibitor listing)
A shiny new patent application came to light today:
https://worldwide.espacenet.com/publicationDetails/biblio?DB=worldwide.espacenet.com&II=0&ND=3&adjacent=true&locale=en_EP&FT=D&date=20170302&CC=WO&NR=2017031568A1&KC=A1
The deal structure this time was a bit unorthodox. They get 7.5M CAD now, then there is an opportunity for another 2.14M CAD if the 2019 warrants are in the money, or up to 5.35M CAD if the other warrant tranche with the 2021 expiry is in the money. Dilution is somewhat minimized by using 1/2 warrant units.
That said, this is an amazingly small raise, and I hope that the amount is very specifically targeted toward completing a major milestone like system software.
Trade resumes coming up at 11:15 Eastern
http://iiroc.mediaroom.com/index.php?s=2429&item=148982
Trade resumes coming up at 11:15 Eastern
http://iiroc.mediaroom.com/index.php?s=2429&item=148982
And halted we remain.
Reserving judgement until I see the prospectus. Although I don't want to be diluted into oblivion, I also know I can cost average WAY down at these levels to make my investment whole again. As long as they raise a sizeable chunk of change and have a solid plan going forward, then I'll know the mgmt team is competent.
At least we'll finally get an update on what's going on via the prospectus that is about to drop....
At least it's been busier this year...JPM, Noble, Roth, and Bloom Burton so far.
Titan will present at the Bloom Burton investor conference May 1-2, 2017
https://www.bloomburton.com/conference/#1468866993009-cacd8702-f99b
Glad you asked. Here is my opinion as to why we're stuck in the mud:
1. Because we're an OTC penny stock in the United States. This severely limits the participation of fund managers with real money to invest (i.e. the ones who are currently invested in Transenterix)
2. Because our previous management team did a horrendous job marketing the existence of SPORT outside of the medical community. Surgeons get the impact that SPORT could have, but investors have little idea why SPORT is better/worse than the existing state of the art.
3. Because Titan seems to be almost out of money (again).
4. Because excessive tinkering with SPORT instead of focusing on the critical path toward commercialization caused the company to needlessly burn through funding.
5. Because the company needs to communicate not only how it's going to bring SPORT to market, but also how it plans to put a significant dent in Goliath's armor.
Ways to alleviate these issues (hope the management team is reading)
1. Find some way to move Titan to a legit stock exchange. Reverse split, secondary IPO, reverse merger with a listed company.....find a way.
2. Spread the gospel of SPORT. Tell the investing world why a capital investment in SPORT will lead to a more efficient, less expensive, and increasingly safe OR than either existing robotic surgery OR laparoscopic surgery.
3. Get the company funded to commercialization all at once. Just please rip off the bandaid and do it.
4. Identify the priorities in getting SPORT finished and then execute that plan. Just say no to feature creep.....there's always version 2.0
5. Start calling out ISRG and TRXC by name. Take the fight to investors via press releases that clearly show how SPORT will change surgery AND make or save money.
Frederic Nahon's presentation from RAMSES 2015 is finally online.
Getting Boyd on the SAB is a huge win for Titan. Two great new additions to management and two great additions to the SAB suggests that the money situation may already be resolved. I think it's just a matter of time until DM lays out the details of the plan going forward.
Like many of you, this is how I feel:
Also, they typically wait at least a month from the last insider trade before doing anything that requires a regulatory filing. The clock has been ticking since the Feb 7 options grant to Perry.
Same here...no response to my recent emails, yet almost daily tweaking happening on the web site to get everything up to date regarding leadership, analyst coverage, pics of SPORT, etc. in the past, these two behaviors taken together have been a signal of an upcoming event that requires radio silence to prevent letting embargoed information slip. I'm reading this current sequence as a sign of some kind of financing news coming IMHO.
What's your source for Titan exhibiting at SAGES? The SAGES 2017 site is still listing the 2016 exhibitors...
The position he occupies at Celebration is the one Dr Arnold Advincula held before, right?
Makes sense that Dr Patel was added. The Nicholson Center at Florida Celebration Hospital is the number one training site for robot surgery in the US. Talk about encroaching on ISRG's turf!
Another website update: analyst coverage!
http://www.titanmedicalinc.com/investors/analyst-coverage/
SEDI and CanadianInsider report that new hire Perry Genova was granted 500,000 options as part of his compensation package. The evidence is mounting that our new management hires are getting paid largely (only?) in stock options (to be proven out when the MD&A finally hits).
SEDI and CanadianInsider report that new hire Perry Genova was granted 500,000 options as part of his compensation package. The evidence is mounting that our new management hires are getting paid largely (only?) in stock options (to be proven out when the MD&A finally hits).
The Society of Robotic Surgery is having their annual meeting this weekend in Miami. Titan is presenting this afternoon in a plenary with Intuitive, Medtronic, Mazor, and Verb.
Anyone on the board there or connected to someone who is there?
The Society of Robotic Surgery is having their annual meeting this weekend in Miami. Titan is presenting this afternoon in a plenary with Intuitive, Medtronic, Mazor, and Verb.
Anyone on the board there or connected to someone who is there?
Reiza Rayman ceased to be an insider the moment he resigned. We have no idea if he sold his shares or not because he no longer has an obligation to report.
Precision is a virtue desirable in a company that is producing a robot that will dissect human flesh...
They get 90 days from EOY...publishing today would be early
Not sure if the results announcement date was correct, but these guys have been known to release late into the evening. One release came after 9pm IIRC...
Only if it involved selling or subordinating shares. Credit instruments are not usually reportable as I understand it.
It's taking forever to fill that large order. No sellers?
BTW, I think it's interesting that we have "no money" but are still hiring people. In my opinion, this hints at some kind of financing behind the scenes that already happened.
Seems like we are making progress. The graphics are rudimentary, but suggest that the software is becoming more mature if they are depicting orientation, zoom, etc.
BTW, I saw a much clearer version on Google Images:
https://i2.wp.com/www.titanmedicalinc.com/wp-content/uploads/2016/05/Workstation-High-Res.png
150,000 shares on the bid right now.
Thanks! That explanation makes perfect sense.
Why are we reading this masters thesis?
Can anyone make out what's written on the left arm in the following image?
https://i2.wp.com/www.titanmedicalinc.com/wp-content/uploads/2016/05/Workstation-High-Res.png?fit=900%2C583
Less
Roth Capital picked up coverage of Titan with a Buy rating:
http://www.investorvillage.com/groups.asp?mb=13685&mn=56147&pt=msg&mid=16864283
Did anyone else find it interesting that McNally said that Titan was having an outside IP consulting firm evaluate their intellectual property and verify that it is truly unique? I don't think they're doing this to second guess Jasminder Brar. I think they might be doing this to prove to a potential partner that they have something truly novel.
JMHO.
These guys better not fumble the webcast release. They could've promised that it would've been posted Jan 31, but they went with "24 hours after" which means it needs to be up by 1:00pm ET.
This presentation has been up for a few weeks. The webcast from yesterday should hopefully expand upon this presentation (similar to the OTCQX interview at the week end)
I think we just learned more about Titan in a five minute read of that interview than in the last five years combined. Highlights:
-Prototype SPORTs have been built to be deployed for use by key opinion leader surgeons. This means we are moving from "usability studies" to "metal on skin" very soon
-They've been invited to present at three investor conferences this year.
- At the JP Morgan conference, they had a "full schedule" of investor and partner meetings
- They "actively pursued" partnerships in late 2016.
Hold on to your butts folks. I think this thing is about to get very interesting. Can't wait to hear the webcast from the Noble conference on Tuesday...