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Definitely Rebster :) BTW, Titan will be at the Oppenheimer conference next week...
For those few still questioning me, i did say recently that Patel will be involved with a video and/or white paper. just sayin. And yes, simulation software partner announcement WILL be in March.
I will also be surprised if the software partner is not announced this week.
Thanks for the PM CUIN. Pretty much tapped out, but intriguing tech nonetheless. Will keep an eye on it.
Best,
weren't we supposed to close in the mid teens today...
BigT and Longmoney can attest to zero speculation...
You are correct Reno. End of 2019 is worst case. The main reason is for human studies. They are not sure where the FDA will be on this so planning for the worst. If no human studies my guess is mid 2019.
Again, 100% SPORT success rate with SAB, COE, etc, but not quite 100% in labs. They feel it is imperative to have 100% in labs to maximize process, etc. This is another reason for the delay.
Not defending, just stating facts...
Yes, that was just about the software announcement coming soon. There excited about it, but I think it will be good for a penny or two bounce.
Nope. Didn't predict any news coming.
So within a few weeks Titan has brought us another delay and another raise. I think it's called battered wife syndrome...
I have no clue what is going on, but I do have a legitimate theory. I think there is a good chance we are uplisting to a new exchange within the next couple of months. They have stated numerous times they want off the otc, and want institutional investment badly. They have also stated RECENTLY they are thoroughly investigating other exchanges and requirements to uplist. They have other options for uplist other than $4 pps for 3 months for Nasdaq. I think there hitting the well one more time on the otc before leaving. Otc investors have gotten screwed time and time again so what is one more time.
The cynic in me agrees with HC in that they may think this is the highest the pps will be for several months with no needle movers coming up. Take advantage of it now instead of .20 in 2-3 months. However, they may have also had huge demand and decided to take advantage of it like last time. Let's hope they get the max.
The one thing I know for sure is the timing is very odd. Why do this a few days before the Roth conf with all these investors, why with 20+ mil in the bank do this now, why do this so close to the conference call we just had where you announced another delay where you specifically acknowledged investor concerns, etc.
Nevertheless, this blows right now. I do have a feeling something is going on behind the scenes, but still shocked...at least right now.
I sent you an email...fyi
got it
sure, I'll check right at 10 west coast time (in 5 minutes)
Hey Mustang, I'm still heading out your way in June. Hoping you, me, and Rebster can grab a drink. However, I do have a separate question for you. I don't have PM on iHub, but if you have access, do you mind sending me another way to contact you...thanks
Agreed. The announcement coming up will not be VERB...IMO They have open communication with them and may very well strike a deal down the road, but not this one coming up. Mimic is as good a guess as any right now...per Scalpel. The company is VERY excited about the agreement/announcement. Analyze that any way you want.
One of the main reasons for the delay was the results in the Lab. Although SPORT has had great success at the COE, results were not quite 100% in the lab. They wholeheartedly believe the lab results need to be 100% to move forward. This should not be a problem to get to 100%.
As far as a R/S, it sounds like the number being thrown around is a 10/1. They would like to be around this amount if/when they do one. They are also investigating every option/requirement for a market uplist. We've talked about NASDAQ and a minimum of 4 bucks. This is not the only option and there actively looking into alternatives.
They will be exhibiting at the SRS in Sweden in June. Expect a narration surgical video or white paper from Patel at some point. Still a huge proponent.
GLTA
Announcement will be in March...confirmed. Just not sure when in March
Software announcement in a few weeks. Highly doubt any raise coming soon.
I believe the recent events pretty much confirm we will not be going it alone. Mc and co. Are trying to unveil SPORT 1.0, 2.0, 3.0 all at once. It seems clear Mc is trying to release a system that will fetch the highest premium. Why release sport 1.0 and a buyout for 3 bucks +, when you can get double that 6 months later with 3.0
If this was all going south Mc would jump ship. Making 250k give or take for a failing R & D company does not make sense. Especially when he could be making 400-500k with less headaches, stress, etc. Let's not forget he has 8 million reasons for this to succeed.
And yes, I'm not very happy about all this but it is what it is.
Appreciate the feedback, but for the love of God please don't mention any of your observations to Titan and Co. Don't need any more "we got to get this right" torture
Yeah, I use to work for Applied Medical back in the day. I think we've figured out that Titan has (or is) utilizing there graspers, gelport, etc. Not a fan of there mgmt at all, but they found there niche. Not sure on the engineering side. Shouldn't be much, and if so an easy fix...IMO
Nice to see some sanity won out today. Investors may finally be factoring in the clinical significance of SPORT. Not the type of trading day I expected. Not over yet, let's see what the next couple of days brings.
Quick question, anyone out there wish we had gone to market with Amadeus, or single application SPORT? I want it out in the market as much as the next guy, but I sure as hell don't want to be Senhance 2.0...
Try his email. I have it somewhere if you can't find it.
A couple years ago I contacted Dr. Samadi, robotic surgeon at Lennox hill hospital in NY. Some know him from Fox business. I asked him back then his thoughts on titan medical. His biggest problem was the system is not clinically significant...how about now???
If it's bad news, why isn't it going down (with volume)? Nobody knows anything. Stop over analyzing (not you, but everyone). I'm sticking with a relatively boring CC call, with some cool highlights/validation from Estape. But again, JMHO.
Btw, does anyone know if there will be questions? It doesn't seem to mention one way or the other.
The more I think about it, the more important this call is on the 6th. We have roughly 4 months (give or take) before design freeze. If there are any issues, delays, problems, etc with SPORT they know it and will update/reveal it to the public on the 6th. If we get a normal "boring" update confirming milestones we are golden. Are they suddenly going to find some issue with sport in the next month or two they don't already know about? Sorry, but if all goes well and no negative news I'm treating this call as the pre design freeze announcement.
Also, zero chance of R/S announcement on Tuesday. Not happening folks...
Alot of speculation out there. I know nothing, but expect Estape to give some nice clinical validation and Mc to give general business updates. Since were basically in a quiet period (any major milestone news) until roughly May or June, this is a mildly creative way to fill the PR gap.
Frankly, as long as he confirms were still on track with our milestones (FDA, commercialization, etc.) I'll be fine with a relatively boring CC.
False
It was one moderately large sell. 600k + overall volume. Nothing to see hear...move along
If Mc raises the day after I will join the pitchfork militia. Don't see it happening at all, or a R/S. Only way is if the demand was so great it guaranteed 40mil and then good through commercialization.
One big sell so far. That's it. If we hit 2 million plus on the volume today there might be something to it. Other than that Just another day on the otc.
IF they hit there milestones, and everything goes relatively smoothly (nothing worse then small delays, etc) yes this stock will be at $10...give or take. Could get bought out for less then $10, but I believe $8-$12 in 3 years or less.
Assuming we get FDA approval in the avg time of 6 months (Titans words, not mine), the first SPORT unit could sell in May or June of 2019... 1.4 years
Don't bother...I'm sure he will say its great for our market. More validation. He has no concern and does not consider this a race. Personally I see legitimacy on both views.
This is where we stand...IMO
There is only one roadblock remaining for Titan and that is FDA approval. Yes we can argue more dilution and new delays as potential issues, but I don't see either dramatically affecting the end game. We may get more dilution at some point, but if there are no significant delays and we get regulatory approval across the board who cares. SPORT made it to market (or got bought out) and we get a great payday (varying on your pps avg). Yes we all want 10+, but I'm not going to cry if this thing hits 5 or 6 because we had to dilute some more.
I've always said that if we have another major delay I'm out. This to me would indicate there's something else going on behind the scenes and it's out of Mc's hands. He wants SPORT done and out there. Fowler wanted a perfect system (which is impossible) and seemed to treat SPORT as a science project. Mc is a business and results oriented guy. Two totally different mindsets. An extra few weeks will not concern me, but an extra 6, 9, 12+ months is different story. Barring another curve ball from the FDA, I don't see this happening.
The 3 installments accompanied by validation from world renown surgeons was the tipping point for SPORT's success. These events all but take any major delay out of play, and confirm SPORT as a legitimate clinical solution. I don't see any way they make anymore major changes after this internal design freeze. Not after all these surgeons have test driven it and given there stamp of approval. It's a waste of time and resources to change things up again.
So that leaves the FDA. How much confidence do we all have? I would hope with predicates and the path all but paved it should be a no brainer, but we all know there a weird bunch. I hope we hear more about us working hand and hand with them again. Genova appears to be the real deal and has had previous success. IMO this is the only thing keeping us from the finish line, and I'm about 85/15 we sale through.
Lastly, I can't for the life of me understand why a big fish won't throw down a couple bil to buy Titan at this point. Maybe not a year or two ago, but now as close as we are to the end. Long term I'm glad they haven't, but it's pocket change for a system that is more than likely headed to market. If we don't get bought out (or partnership) I do see another raise for 25/30 mil to fund the initial 12 units order for the first year. We won't see anything more than that. Either we see huge premium offers come in immediately after the first few orders, or Mc sells for a "decent" price if there isn't a bidding war. We are NOT taking on cost of manufacturing, a big sales force, etc, etc. A partnership with a big boy doing are heavy lifting is the only way we sniff at going completely alone.
Not that it matters, but i'm at 40/60 we roll with VERB (it keeps increasing).
IMHO, and some rambling
Exactly right...according to titan isrg is smart and patient when asked about there SP.
For the record, we only have 3 official working prototypes. all 3 are at the CFE. We have other patient carts, work stations, but not complete units like the other 3. The additional 40 mil we need gets us to commercialization. It does account for building initial units for sale. We would have to raise additional $ at that point. Don't think this is a surprise to anyone. Plus VERB can help us with funding at that point. lol
No clue how they went. They did have 30 one on one meetings at JP (mon-wed). Who knows if anything came of it. They are also well aware of the "opportunities for improvement" mentioned by Dr. Estape. They are already addressing the camera and length. Not sure about the others. No real delays at all.
Titan recently completed two cadaver studies in Strasbourg. More going on. They will release as news/update hopefully soon. Should also be some videos with it...fyi