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The way to see their emails and to deal with this is a lawsuit. They blew through their “milestones” and have left investors high and dry. A few people on here have claimed that’s the risk of investing in a start up. The truth is that the risk of investing in a start up has to do with whether or not the product will be successful at market - not whether or not the company will deceive investors. It’s high time investors get compensated for having been given bad information.
Speculative is when you don’t know what the market will do. However, Titan represented to prospective investors that it had a specific, highly-detailed plan to bring its product to market. It then abandoned that plan in a way that led me to believe it likely had no intention of ever following through on that plan. That’s not speculation. If Titan knew it didn’t plan to follow its representations or reasonably expected it was going to abandon that plan, it misrepresented in an effort to induce investment. That is quite different from speculation.
Thing is, if they bring it up to $10, that doesn’t even put us all (you, me, others who’ve been here for the last five+ years) back to where we started. Remember we were at around $2-3 when they said they were going to make good on those milestones. Then they completely devalued the stock. So this $1 is on what $30-90 of your original investment?
I don’t trust this company at all. They listed “milestones” that showed a clear path to commercialization several years ago. These milestones induced a lot of investors to invest. The company then abandoned the milestones, raised capital, diluted stock price, then did a 33/1 reverse split. Never mentioned abandoning milestones. They seem to have little to no regard for investors and seem to view them as donors rather than understanding that the company has a fiduciary duty. Titan should have stayed privately held, but needed the cash to move forward and got it from the public. They have done nothing to make good on the representations that prompted my investment several years back.
Has there ever been any movement on an investigation into possible fraud re “milestones” and/or a lawsuit? Remember a lot of us bought into this based on false representations that the company was going to follow a set of specific milestones. They then did not and in fact diluted the value multiple times. It seems possible that the company put those “milestones” out there simply to induce investment. Many of us have lost a great deal. I would never have invested but for those representations. Wondering whether anyone has progressed on a suit or if there’s been an investigation.
Congrats to Titan management- you’ve beaten the all time high share price of ~$2.50!
Seriously, where are the regulators and/or plaintiffs’ attorneys?
Special congratulations to Titan management for bringing our share price down to $.16 and reducing he number of shares per stockholder 1:30. Hopefully the “milestones” that induced us all to invest will be a key piece of evidence when we sue to recover our losses.
Seems like a shareholder lawsuit is in order. A few years ago Titan induced a lot of people to invest based on “milestones” that they later abandoned. Titan has not been a good steward of my money or anyone else’s. They’ve violated their fiduciary duty to us. Now they’ve uplifted to nasdaq for a 30-1 split and will further dilute what we gave them. Same old story with heee guys. It’s time for a court to call their bluff.
THese guys are laughing all the way to the bank. They hooked us on a fake timeline promising they’d have this product to market years ago. They abandoned the milestones and let this stock languish down from $2 to $.19. Then they did a RS. Now they’re letting the stock go down again. What absolute incompetence. No regard for the well being of the people who funded them. Shocking.
Thank you cards. Did anyone else get a thank you card in the mail from Titan today? To paraphrase, it said “dear sucker, thanks for the interest free loan - couldn’t have done it without you!”
Thank you Titan management for bringing us to a 30-1 reverse split. Now if you get the share price up to $50, those of us who bought it based on the promised timeline might break even!! Well done!!
Thank you for posting this. While I appreciate his candor, did he say anything about the fact that the company raised money that it then spent by publishing a timeline that seems in retrospect was probably not believed to be accurate by at least some decision makers at Titan? This talk of a reverse split is incredibly cavalier. Had the company been honest about its plans several years ago, it wouldn’t have had the money it then spent to dawdle its way here. I sincerely hope the guys who pushed this timeline that so many of us relied on are being looked into for raising money with that timeline.
No news since November?!? Has anyone heard anything about where we are with milestones?
Titanic
Lots of lies and deception indeed. It seems like it may be time for that lawsuit. These guys convinced a lot of people to invest a lot of money and have as of yet delivered on exactly none of the things that induced people to invest.
CUIN2 is right. I still have all my shares, but I watched as they went up to $2+ and down to about $.20, all while Titan claimed to have a timeline, then adjusted its timeline, then adjusted it again, then abandoned it... In other words, we all hope that this rally is for real, but the last three years have shown us that for all the potential of this idea, this company is very creative about missing opportunities.
Does anyone here have any ideas as to who to bring in to help out?
I hear you. Trust me. I bought into this company when it was around $1, then above $2, etc. I want TITXF to succeed. Had they stuck to their milestones, this thing would probably be over $10 by now, if not higher. I would much, much prefer to see this go to commercialization and for all of us, even the management that's been ignoring investors, make a profit. But, at some point we have to get real. They've all but abandoned talk of actually bringing a product to market. When do we as investors take action to recover at least a portion of our investment?
Basically, this company publicly represented that it had plans to meet certain "milestones" (e.g. engage in critical trials, pursue CE mark, pursue FDA approval, etc.) by certain FY quarters. Everyone was very enthusiastic about this and the PPS went up. Then, and without any communication to shareholders, these guys just changed the date of the milestones. Their justification was that they were going to build a better, more ambitious product. So, the PPS sank, but "long" investors held out and served as cooler heads here, suggesting that we'd all be better in the long run with a better machine. Well, time passed and these guys proceeded to seek funding numerous times, with a corresponding hit to PPS each time. Then, again without communication or fanfare, the "milestones" quietly disappeared from their site. At this point, the company is not promising prospective shareholders anything. But, they're also not communicating a thing to those of us who bought in based on what have proven to be false representations. We're all hoping that this company with so many huge name doctors at the helm couldn't possibly be this oblivious and/or deceptive and that they'll make it happen late in the ninth. But, the apparent reality is that they are either inept or they've played pretty fast and loose with the truth in order to induce investment. The best thing that could happen now would be for a competent and honest person to take over and for the company to commit to an immediate, transparent path towards commercialization of the product they claimed to be working on developing when so many of us invested.
I think it's time for a shareholder suit. They misled us with the "milestones" they posted. Plain and simple. I would never have invested in the mere idea had they not publicly stated they would meet these milestones.
I think what induced so many people to invest was that these guys said they were going to put what we all believed to be a great product to market within a certain time frame. At this point, they seem to be playing around trying to make the most perfect machine ever instead of just getting a real (and excellent) product out. What would make everyone happy would be if they would do what they initially said - start selling their great product. Continue to develop it once it's out on the market. But, for now get it out there.
I believe their actions indicate deception/fraud. I feel as though anyone who invested during any of the periods where they had "milestones" listed on their site was duped.
Has anyone seriously explored this?
These guys need to realize that every new technology starts with its first iteration. Apple sold a boxy old black and green monitored computer way before it came up with the iphone. They just need to get the first (safe, effective, current, but nevertheless imperfect) product to market. Update and expand once it's out there. And by the way, that's what they told us they were going to do when they were asking for investment.
These guys are so inept. They need to get back on track with their original timeline and start selling their product. Hopefully this shakeup is part of a larger one that leads to them getting it together.
Hargrove needs to resign. He needs to be replaced with someone who will immediately begin to move towards the fastest commercialization possible with the current plan. The last published milestones I grabbed on the titan site showed submission of human clinical trial results to the FDA in 4Q this year with commercialization less than one year from now. In terms of the company's duty to investors, that means they should be at that point by now, not continuing on the quest for academic perfection. That can continue after the product is already at market. It's time to start returning on investments folks. Ditch Hargrove and anyone else who does not understand exactly what duties they took on when they opened this company up to investment. In addition to being cavalier with our money by making these disastrous decisions, they are risking lawsuits and other actions by continuing on this course. This is a publicly-traded company that made representations to the public about its plans and through these induced investment. It's time to make good on those representations. Enough messing around!!!
I understand what you're saying and have even expressed similar sentiments. But, how long do you think investors should put their concerns aside for and wait for Titan to develop this system? I was quite frustrated when they first abandoned their milestones and timeline, but gave them the benefit of doubt. They've done that a few times. I'm left wondering whether they will ever actually bring this thing to market and if so whether it will be too late. The point about this being a publicly traded company is very important. If they had years of research left and intended to veer from those milestones, they should have waited to open up to public investment - or at the very least not have represented that they planned to stick with certain milestones. Keep in mind that those milestones were listed under the investor relations section of their site. Why? To induce investment. So, I don't agree that people who invested in a startup tech company based on its representations should hold off indefinitely on demanding that that company make good on the things it said it would do. I'd be quite happy to know that one year from now they will have sold the company for $10 a share or whatever. But at some point it is time for this company to realize that it must move forward with an imperfect product and update and improve moving forward if for no other reason than that it sold a lot of investors on its promises. It's time for these guys to make good on those promises.
This is exactly right. Apple didn't wait until it had the iPhone to release its first computer. Microsoft didn't put out the newest version of Windows first. And the same holds true for any other technology whether it's sneakers or anything else. These guys need to quit dragging their feet and get this thing on the market. And why? Because they made a decision along the way to publicly seek investment based on the representation that they were going to bring this machine to market on a certain schedule. They are way behind on that schedule, presumably in their search for perfection. Many of us are deeply invested in this product and they owe it to us to make good on the deal we made with them by handing over money. Incidentally they also owe it to us to continue to work towards perfection, just after they get this thing out there in the market. Time is money here. They're wasting both.
Thanks for your perspective. I'd agree that if we ultimately have a superior product that would be great. I've become very skeptical of this company's management due to the very concerns outlined in the article posted on this message board today. I think everyone here agrees on titans potential. But this company has been really bad at communicating progress and has altogether abandoned the timeline that compelled most of us to invest. There's got to be some way they can move the ball forward for investors without compromising on the quality of the product. By going public this company created for itself responsibility to its investors. They have to start prioritizing that as much as they do research.
The problem is that this company is letting perfect be the enemy of good.
Most of us bought into a good, actually excellent concept a few years back.
I maintain that by veering from this announced concept Titan did what can reasonably be categorized as not entirely forthright towards the investing public (to put it mildly). That being said, they should return to their plan of bringing this excellent product to market as soon as possible. Rather than continuing to attempt to perfect an excellent idea, get it out there and sort out the fine tuning later. This company owes it to its investors to begin to earn profits. And given that this is an excellent idea, it will benefit medicine to have this innovative system out there in the hands of medical professionals.
If I hadn't heard the same sentiment and thought it myself last year and the year before, I'd agree. At some point, we have to realize we're being messed with
Great. I'm all for high risk high reward. Let's see some honesty and follow through from Titan and I'll accept the risk that comes from an untested unproven product. By the way, I know a couple of things about what I'm talking about.
No one here is asking to be privy to confidential corporate information. However we were all induced to invest by representations this company made of its own free will to the general public. Beyond that this company has certain very general obligations as a company that again voluntarily chose to go public. One of these obligations is to act in the best interests of its shareholders. At that it has failed. Further it may have broken laws by misrepresenting milestones it either did not intend to keep or simply recklessly abandoned. The clear issue is whether Titan paid any heed whatsoever to the effect these milestones had on the influx of investment. Beyond that there is a clear implication that this company may have used these milestones intentionally to induce investment. If this is the case then veering from these milestones becomes a very serious matter about which considering labeling it fraud becomes valid and reasonable. That is up to the authorities and it is time they begin looking into this.
Titan put out to the public that they would follow a certain plan. They didn't. Did your car manufacturer ask you to buy its car? Did the people who make your food ask you to buy from them? Did the people who make your clothes ask you to buy their clothes? All did in the same way. And all owe you a certain thing in return for your reliance on their representations. More generally, in all cases, there are general rules that apply. If your clothes simply fell apart. If your car exploded. If your food made you sick. In any of these cases, you'd be entitled to compensation. Why? Because regardless of the specifics you were entitled to something in return for your reliance on a general understanding. Now if your clothes were advertised as having a special feature and they did not and you suffered as a result you'd be entitled to compensation. What has happened with Titan is no different. They put it out to the public that they intended to pursue a very specific set of actions. Many invested for those reasons and those reasons alone. Years later after several such changes those same people are knocking and saying what happened to that deal we had. I didn't give you my money for the sake of giving it away. Titan did ask the public to invest and they set the terms. We didn't. It's time for Titan to be held to account in a court or before an investigative agency or both. Their behavior is not in good faith and may be illegal.
The time to sue (and to investigate this company) is now.
Titan has at the very least behaved in a way that is totally negligent with regards to its investors. Titan has induced members of the public to hand over money to bankroll its progress based on representations that increasingly appear to have been false, fraudulent, or totally unrealistic and in that sense reckless. Titan should have taken its product to market by now if we were looking at its milestones from two years ago. Again and again this company has changed its like. Each time investors have stood by waiting for their investment to bear fruit. Each time Titan plays this game again. They have now gone too far. The government needs to investigate this company for possible fraud. And there needs to be a lawsuit for breach of fiduciary duty and fraud. Enough with the misrepresentations. This company has had more than enough time to show that it has investors' interests in mind and more than that that it is behaving in good faith. Titan has now gone completely off the rails. It needs to be reeled in.
I'll "suck it up" when the stock I buy doesn't do well. I won't when the people who sell me the stock lie to my face. There's a major difference between a company earnestly competing in the market and a group of people purposely or negligently misrepresenting a company's planned course of action with the intention of eliciting investments from unsuspecting members of the public. In fact, this is exactly why we have laws protecting investors!!! The risk we all agree to take by investing in this company was that it may or may not perform once the product went to market NOT that the company might not do what it said it was doing.
Put differently, these guys put it out there that they were going to do x, y, and z and asked mementos of the public to back them with money in return for a promise that if these steps led to a profit those people would share in that profit. That's a risk. Why? Because it's risky investing in a company whose product has not yet proven itself. The risk was not whether this company would do x, y, and z. Anyone who tries to convince investors that that's the risk they took needs to look at this from a wider angle. If people never knew whether the companies they were investing with would do what they said they'd do, it would be chaos. People would stop investing. The good thing is that governments recognize this. They have passed laws making it very clear that you cannot defraud investors and that you have a fiduciary duty to people who hand you their money in good faith. These guys have had several years since their first deviation from the stated milestones to come back to good faith. They've failed over and over. Flat out walking away from the milestones altogether is the most brazen step thus far and proves beyond a doubt that they are acting with no regard whatever for those who've handed over their money in good faith. To that end it is time for the government and or courts to intervene.
I see there were a few responses to my suggestion for a lawsuit that suggest this criticism stems from a sense of entitlement. Far from it. Investors relied on titans representations. Plain and simple. They provided investors with a set of "milestones" then changed them multiple times. When you induce someone to act based on a certain promise and they act to their detriment, you have incurred a liability. Had Titan gone forward with its milestones and we simply lost out, that would have been fair. What they've done is shady. And every time they rework their milestones it only serves to underline just how shady they've been. They did not have to go public. They didn't have to represent to potential investors that they intended to take this company along a certain course. But, they did both those things. Now several years later they have people who invested based on certain of their promises saying it's time to make good on those promises. That's not a sense of entitlement. That's called a contract. Titan made a contract with those of us who relied on its statements. Titan cannot continue to play these games. It has an obligation to make good.
Titan has now done away with its milestones. Good thing I saved them all!! The lawsuit for breach of fiduciary duty will come soon I'm sure. I'd be surprised if there's not an investigation for fraud as well. Should have stuck to the plan - the one you put out to the public.
Did these guys just change their "timeline" again? If so, I strongly believe it's time for a lawsuit for breach of fiduciary duty. If they did change it, they've now done so twice after inducing countless individuals to hand over their hard earned cash to bank roll their project according to certain states milestones. Inducing investments based on these apparently false representations is a major problem. If that is what happened yesterday, I think we need to look into hiring someone to pursue a class action on behalf of investors.
Well, actually, when I bought in a few years ago, the company was, at that point, representing its plan to prospective investors along the lines of certain hard milestones. Only after inducing many people to invest did the company, without warning, extend those milestones, then engage in a series of market offerings, all of which had the effect of decimating share price and leaving investors such as me stranded until the company begins to produce. Had this company represented itself accurately about two and a half years ago, I would not have invested. And, had I known that they would time and again make these disastrous market offerings, I would not have invested. Whether they succeed or not at market is the gamble we take when investing in a company at this stage of the game - not whether or not the company is honest with its investors and/or whether it exercises its fiduciary duties to investors. Again, if they do not deliver on the statements they've made that have induced so many investors to hand over hard cash, I believe they've set themselves up very well for a lawsuit and real allegations of fraud.
The people in charge of this company do not care about investors - except in terms of taking their money. Any sort of reciprocation in terms of earning investors money is completely off their radar. If they don't make good (willfully) on their represented milestones this time, they should be sued for fraud.