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I'm also inclined to believe McNally is beginning to wet his pants as well. His options get lowered and now the PPS has tanked significantly below his option price. Granted, he's getting a salary (unlike the rest of us) but I do wonder if panic has started to set in for management? If the cash on hand outlook is what some on this board believe it is. Beads of sweat have to be surfacing on MC.
This was mentioned a long time ago, but I wonder if legitimately interested institutions are sitting on the sidelines waiting for Titan to run out of gas/money. Then attempt to buy them out on the cheap?
I've seen no effort by management to help out the longs. They have zero problem increasing O/S share count, diluting the crap out of shareholders while protecting their interest with repricing their options. If that doesn't scream a big fat middle finger to the longs. I don't know what does.
Who is the quote from? The company or an opinion of someone on the internet claiming "he knows someone" within the company?
And this hot mess we're in is EXACTLY why McNally wanted his options re-priced. To absorb the dilution he and management already knew they were going to do. To those who claim management has no idea what they're doing. I say bull, they know exactly what they're doing. Hence the repricing of options...
I haven't been reading the board as much anymore. What is the big excitement about today, 9/24? Are we anticipating some type announcement or something?
But the kicker for the longs will be the number of outstanding shares at buyout. What will that be? The more outstanding shares the higher the buyout has to be for many of us longs to make any decent money. God forbid another R/S happens. Also, not everyone has this huge pot of money to keep feeding into this to keep dilution down. That's where many of us are right now. The ones who seemingly have an endless supply of extra money laying around can keep putting dimes in the jukebox. The rest of us are simply sitting on the sidelines praying there won't be anymore dilution.
We are getting fleeced. That's what is going on. People have come up missing for a lot less than what these clowns have cost the longs. Unreal management has support from ANY shareholder that is Long. One delay after another. It's been the story for me for six years. For many, even longer. This is a complete sh*t show.
This dude is absolutely bending a lot of people over the barrel while ensuring he and certain people in management will make their money. I knew when he was requesting his option price be lowered that was the nail in the coffin for a lot of investors (like myself). That told me a lot more dilution was coming and/or their projection of any anticipated buyout was going to be a lot lower than first thought.
Either way, he has given ZERO regard for long investors. ZERO. Lesson learned. Now just hoping to break even and get out of this nightmare.
This sells for $8/share Cousin Vinny will be least of their worries. Those good ole boy doctors from Mississippi who bought in a while back may "take a trip up north"...
If this only sells for $8/share Mc and company better go into the witness protection program...
Yep. Completely agree that a buyout is actively in the works. The only discouraging thing is the lowering of McNally's option price indicates (to me at least) they aren't anticipating the big buyout number they may have originally thought. Hence the lowering of his option price to ensure he walks away with a big return.
Unfortunately, this pretty much sinks any hopes of me making "good money" from this investment. Now breaking even (at $15.52/share) will be a "win" for me. I simply do not have the extra funds to keep fighting the dilution. Which seems all but a given at this point. What could have been...
I agree and I think the repricing of McNally's options is an indication that they already have a feel of what they can expect to get. Hence, lowing his option price because they know they're not going to get what they originally thought.
But I'm a real rodeo clown. Not a message board rodeo clown. For the record your honor. :)
Agreed, this guy's reasoning doesn't even pass the smell test for general business sense, much less for industry specific areas. Plus, his understanding of non-competes is very flawed. I worked for a company who routinely dealt with non-competes with employees. Your description of how they work and enforced is much closer to my experience than what he's describing.
So for us longs who've been in this thing for over 5 years. A partnership scenario with Medtronic like the one being discussed seemes to be one of the better outcomes we could hope for considering many of us aren't going to hit the homerun we thought we were going to hit.
What is our current O/S share count? I'd love for a deal where some of our Titan shares converted into Medtronic shares. I'm hoping y'all are right about big news coming. We certainly are due some.
Why are you anticipating the news coming "real soon"? I think you're right, I think Medtronic is our partner as well. I just wonder why you think the news is comings real soon when we're still six months out from FDA submission AND another six months or so from potential FDA approval. Basically a year away from having a product to sell.
I'd be willing to bet they don't lose much sleep over it. They'll make their money, either way. Unfortunately off the wallets of the longs.
Odds are he's feeding you BS. He's giving a canned answer that he's been instructed to give everyone who calls and asks. The guy obviously doesn't have a problem giving out information that never happens. So it stands to reason what he's telling you about "going at it alone" falls into that same category. Based on his history of giving out info that actually happened, it makes me believe even more we'll be acquired or form a partnership.
No they're not. They can't afford to and these guys aren't spring chickens either. When you get to their age waiting an additional 3-5 years isn't like waiting an additional 3-5 years when you're in your 30's. They want their money as soon as possible. Granted, they want to maximize their return, no doubt. But to think they are willing to sit back and keep the lion share of their profit tied up in pushing back when they get it, isn't realistic. They either partner up or get bought out. One of the two.
Something is going on (from a strategic standpoint) behind the scenes regarding this stock. I have no idea what or why. But we've been so close to warrants on numerous, numerous occasions yet there has been zero effort to get the PPS even close to them. It says something when design freeze can't even get us in the lower dollar warrants.
Then (as you've stated) we keep adding highly qualified people in the industry who are more than willing to come on board. They don't come on board simply for a few hundred thousand dollar paycheck and they certainly don't come on board for stock options in which they only make a few hundred thousand dollars. Either these highly qualified and experienced people are completely having the wool pulled over their eyes and this thing is truly a turd, or they know exactly what SPORT is and where it's headed and want to cash in on it as well, like the rest of us.
How does a partnership work with regard to shares of stock? If Titan partners with someone would it impact our stock ownership?
But have those companies had the same history as Titan? We've basically had complete management turnover, an original scrapped design, and another "redesign". At one point (before several management blunders) the PPS on this stock was appreciating. History of the company has to be factored in to current market reaction.
I just threw revenue streams as a secondary reason. We can't even talk revenue streams until there is an approved FDA product to generate revenue. Design Freeze is great, but design freeze isn't going to bring buyout offers. When an approved FDA product is available and the "riskiness" of the stock drastically drops, then we ca start talking buyouts and increased PPS's.
I think you're exactly right. At the end of the day, this is still an R&D company, that even though they are at design freeze, still doesn't have a revenue generating/market approved product. Which is still classified as a risky investment. Granted, it is a lot less risky than two years ago, but still, considered "risky" in the securities trading world.
Is the amount of funding still needed the anchor that keeps holding the PPS down? There's been no indication of any delays, they are on schedule (possibly a bit ahead of schedule) with timelines, they've announced design freeze AND will be submitting for FDA approval in 6 months. Yet we're tanking like the company has announced they're going out of business. Very hard to follow this stock. Very hard...
Anyone have a clue as to why this thing is tanking like this? Good lord...
No, I'm genuinely asking. Isn't DF a big deal? It seems it was one of the "big ticket" items that once that box was checked, would really send a message to the market that SPORT was a serious and legitimate contender. So , no. It's not sarcasm. However, over the last year there have been those on this board who claim that even with DF the SP would not be materially effected because of funding issues.
Any thoughts on when the announcement of Design Freeze begins to materially impact the SP, if at all?
Most of us longs are hoping the "trick up the sleeve" is getting warrants into play.
That is why everyone has to make their own decision. But regardless of the decision or decision process. No one's decision is immune to being the wrong one. As sound as it may seem to be. We're all subject to being wrong.
I think safe/conservative advice for anyone sitting on the fence of getting into this stock or contemplating buying more would be to at least decide before Design Freeze is announced. Regardless of what anyone's opinions and advice are up to that point. Once Design Freeze is announced, the risk of "being left behind" drastically goes up. Because it is not out of the question for the share price to go from $4 to $20+/share once the news of Design Freeze is released.
I agree Rocko, Auris going for $5.7 billion just blew open the doors to the treasure chest for the market (which includes Titan/SPORT). Someone ought to send them a gift basket or something with their Vegas money.
Depending on who you ask on the board, but there are some who think there will be a buyout before FDA, some believe shortly after FDA and others believe the buyout will happen after a few years of sales. I don't think the argument is if it will be bought out. But when.
LOL! Fair enough. LOL!
Grass growing is more exciting. You mean like watching paint dry.
According to him they've hit delays and 2020 is looking more realistic than 2019.
That is correct. I have a family member who works for them and the robot was supposed to be finished this year. But it will not be finished this year. It is delayed. I can attest to that.