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I have always questioned whether Hargrove could get it done. His track record is JNJ. Just hang around and keep your mouth shut gets you a career.
Both are terrible. JNJ cannot bring anything to market. They buy stuff. They don't know how to build or enter a market.
Totally agree. There's that JNJ influence which I have always been suspect of. Good business people, but have no idea how to build or enter a VC market.
HC, all is not lost. Look at this as a new beginning. Time is precious, but that is all we lost. The story still holds. It just has to play out to a longer script.
Did he specifically mention the new time frame as being conservative? It did appear to be from my perspective? Someone also asked about tactile feel. I was wondering if anyone could follow up on that. Seeing how that we have more time to work with a newer version, any thoughts on how hard that would be to incorporate at this point?
Thanks for the update.
I saw the DEC 2015. I thought if the price gets up by meeting their milestones, that would be a good shot in the arm which should propel them towards the next set of warrants. They really need to now provide information consistently to the market. They can no longer wait on just getting to market. My guess is not much action until the first milestone is met. However, I would not be surprised to see a drop here in the short term.
bid and ask has now changed 1.93/2.04.
If milestones are met and Titan is viewed favorably over the next several months, PPS should move up. If the PPS moves up significantly, warrants will be exercised and their cash needs will have been met. Any feedback on additional capital needed or do you think it is plausible getting it done with existing cash and warrants?
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Development Milestone
??
Estimated Cost (in U.S. $)
????
Schedule for Milestone Completion
??
?
?
Comments
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Alpha commercial prototype design complete
(Design of prototype suitable for ongoing tissue testing)
-
Q1 2014
Completed
?
Alpha commercial prototype built
??
-
??
Q2 2014
Completed
??
Tissue testing complete
(Testing performance of individual features and functionality)
?
-
?
Q2 2014
Completed
?
Design and test of feasibility prototype complete
(Demonstrate feasibility for next generation console and advanced instruments)
?
$11 million
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Q1 2015
Expected
??
Proves feasibility to build and reflects expanded use of SPORTTM Surgical System
Units built and ready for engineering verification
(Prototype is formally tested to meet previously defined specifications)
?
$17 million
?
Q4 2015
Expected
?
Prototype units enable validation of expanded use (not previously disclosed as discreet milestone)
Early human feasibility report complete
(Human clinical cases utilizing units are tested under engineering verification)
Audit for CE Mark approval commenced
$10 million (2 milestones)
Q2 2016
Expected
Q2 2016
Expected
First “in human” studies confirm capabilities of SPORTTM Surgical System for expanded use
?
Pivotal Human clinical trial commenced
??
$3 million
???
Q3 2016
Expected
?
Pivotal Human clinical trial completed and 510(k) application submitted to FDA
Outside U.S. commercial launch
(Pending CE Mark approval)
U.S. commercial launch
(Pending 510(k) market clearance)
$3 million (3 milestones)
Q4 2016
Expected
Q4 2016
Expected
Mid-2017
Expected
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TOTAL
??
$44 million
??
?
Patents are worth more than where they are right now.
You are so correct. Amateur hour continues for some on this board. Market is closed. Tomorrow is the news before the market. It is out of our hands.
Good luck to all.
Actually, AVE took the market and sold to MDT for 4 billion in 18-20 months. Still trying to compare different technologies is not wise. BSC went from 60 to 6 over the years, not just due to stent sales. Let Titan run its course. Stop with the bold letters. It is very annoying.
If memory serves me correctly, Paul Laviolette was the COO of Boston Scientific for many years under Pete Nicolas. He would definitely know how to get to market as well be connected to a lot of people with deep pockets.
Lets see if Nov 14 comes true.
TRXC COO resigns.
On the wire 40 minutes ago.
Now thats a post that is very descriptive and accurate. These guys better not "F' it up. As I have stated consistently, my only concern is letting a JNJ guy do a start up. I continue to hope he knows how to climb out of a box and hopefully soon.
What makes me think that they will go it alone (at least in the short term) is the two rounds of raising capital and how they were so close together. No need to raise at that time if you are shopping around. It just dilutes the stock. Thoughts?
Also, any reps or individuals working and living in California are not subject to any non compete.
You are right about California and actually every state is different. A rep can work for a Californian company but be held to their individual states law. For an example, If a rep worked for a company out of Northern California, and lived in New York, that rep could be prohibited for working for a competitor based on the wording and if the company chose to enforce it.
I agree. It will inevitably fall below 2 without something. How far is anyone's guess. The patents are worth more than 2 bucks. Panic selling will drop it quickly.
Bid 2.04, ASK 2.06.
???? Any thoughts? 20 minutes to market open.
Where are you seeing this?
I am not sure we will go under 2$ again. I believe 2.50-3.00 is realistic by Nov- Dec. Things will pop provided they stay on schedule and obtain CE Mark first quarter. Then, it is really a crap shoot. Execution and plan will determine where it goes. I have always believed that their technology and patents are worth more than where we are at now. I still believe investing now provides an upside. Human tendencies always want to get it a little cheaper and keeps us from jumping in here. Look at the volume. I am almost where I would like to be on my position. Closer to 2$ and I am fully invested. How about you?
Thank you.
I have to chime in. If this guy really knows whats going on, he would share it. It's a very juvenile and childish approach. He clearly needs attention. If he truly knows big news, then stake a claim as to how it will impact the stock price and stick with it. Most of us are serious investors looking to further our investments. Most of this board is speculation. Some who rarely post are the one's i am interested in listening to.
Well said. Titan will be selling service contracts as well as disposals. They will have sales and support. I agree, you start small and build. Any talent over there knows how to map and strategize their opportunities. They should and I believe will bring people on that can be justified to support and grow their business as revenues start coming in. They should have a handle on what to expect 2-3 quarters out. Having said that, people in that capacity should start being hired 3 months prior to anticipated CE mark. The same holds true when they enter the US market. Your last point of going it alone, I agree. To maximize value, execute on your own. Don't let an outsider muddy the waters. If they want in, let them write a big check, but only after you have gotten out of the gate strong.
Thank you. Just my opinion.
5000 hours translates to approximately 2 and 1/2 years (2080 work hours in a year). Where do you get your number? I know lawsuits can take years, however, during that time, without an injunction (which I believe may never happen) revenue will increase making it very difficult going forward for ISGR. Competition will prevail.
In this time, you have to rack up revenue to justify valuation. The market knows of impending lawsuits and the lack of updates are not a positive. The possibility of delays could be worrisome in the short term. Some say no news is good news. I hope these guys are on track; therefore, I say sit tight. Believe in what they have. It appears to be tangible surrounded by some very good thought leaders.
Regardless of patents, I assure you that Intuitive will sue them and try to bleed them. If they get out of the gate (Titan) strong and can run the numbers up based on availability of product, their valuation and attractiveness to suitors will increase dramatically. A merge is possible, but I would try to prolong it as possible. If I am doing all the right things and increasing revenue (shareholder value) I would want to go it alone. Look at what ISRG was able to accomplish. Titan would not only compete with these guys, but expand the market and lead to the overall robotics surge over the next several years.
I prefer not to say much due to the fact that some on this board attack for immature reasons. I have a lot invested and have worked for many venture capital backed companies. I have experience at this and have gotten better as the years have gone on. I am not making any claims or trying to challenge. This looks like a very good mouse trap and needs to take its normal course.
Thank you. My opinion is go it alone. If they feel competent and want to maximize their payout and shareholder value, roll the dice and execute. I still believe, how they enter the European market will be a tell tale sign as their intent. Two to three months prior to FDA anointing them, they should start putting together a sales force and support staff. I just hope they realize what they have and are not short sighted thinkers. This will take some time. I don't need to cash quickly. As long as they continue to deliver and outpace the market, I'm not going to cash in. 3-5 years could retire a lot of people. I have stated before that Hargrove is a JNJ guy. My concern is that this is a start up. Very foreign to that breed. They are good business people, but do can they stomach the start up world. ?????????
Thanks.
the World has changed over the years. Once you could sell an idea. Then you had to build it. Then you had to show it worked. Then, you had to make money with it. Until there is execution with this generating revenue, no one will take it out unless they are eager to sell. The better the execution, the better the buyout.
Typically, JNJ buys existing technologies or technologies in development. They are very good business people. Building something new from scratch in a market that would be a new segment for them is not considered one of their strengths. Thoughts?
Nice post.
Agreed. They got two quarters of reporting and PR to make that happen. That would be a healthy increase from here, therefore they need to (better be) hitting their milestones.
I think with no PR as of late and the market turning down, people exit due to increased nervousness.
PR firm could possibly be quiet knowing the stock will get cheaper at some point. I added today as others have.
Any opinion on whether this goes below 2 before next week?
How long ago and what type of procedure?
Wrong. Please explain your logic.Titan will sell a lot more than 100 units in 3-4 years. You are comparing different animals. This will go big once FDA blesses this….
I am still puzzled at Bertner's group being hired. Are they trying to bridge a deal with someone? Not sure. The best PR is to do a road show with Hargrove doing presentations and having an appearance at the National conferences. 20K is a drop in the bucket. Does she have some value that we do not see? Perhaps as we get closer to being up listed and Titan being Canadian, she, being in NY, has value at maximizing our PPS. Questions?????????