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Titan Medical Completes Build of Its Next-Generation Single-Port Robotic Surgical System
Incredible accomplishment and very exciting times for Titan! Nobody can spin this one negatively.
https://finance.yahoo.com/news/titan-medical-completes-build-next-133600361.html
The US-based institutional healthcare investors would not have been able to participate if still on the OTCs. Big deal IMO.
It’s only tanking bc of dilution from an uncertain offering amount. And keep in mind there is no “smart” money in this, just retail. It looks like some decent size positions sold out over the past week and that’s likely those not willing to stomach the stormy seas of Titan any longer. Current levels price about a 25-30 mil raise and if it closes next week, should start to trade up with a new and stable institutional investor base. Great place to be IMO, great for new investors obviously with likely limited dilution in the future with warrants, and worth adding for longs if you’re still L&S
Incredible update!
Sounds like we finally have management that executes.
Full steam ahead. Thanks T
Titan will trade under a new ticker on NASDAQ and won't show up until the cross-list is complete. You are just seeing the current action on OTC.
Some big orders hitting the boards early.
I just topped off my post-split holdings. Action looks to be setting up for another run up today.
L&S.
Needs to trade for 5 business days post-consolidation. Likely end of next week.
.21 x 30 is still 6.30
Penny versus a dollar has no bearing on price action, % is the same. It's driven by valuation and supply/demand. That's it.
The tech is NOT unproven. It is being utilized by some of the world’s top robotic surgeons in some of the top facilities with tremendously positive feedback and 100% success.
Please do some DD and buy shares before you miss out.
They would only uplist if they had support. Read the PR and pay attention. Your post makes no sense.
MMs may try to trap this before uplist, but then it should pop.
Buying opportunity.
Yep, the human confirmatory studies were initially not considered to be a requirement, but at the end of last year, they did indeed confirm with the FDA that those tests would be required, and as such, they moved design freeze further out to better align.
So keep in mind, ALL platforms under development, who intend to seek FDA approval, will be subject to the same requirements. Likely why Medtronic also delayed, to some extent.
All of this info was available in their filings. And there has been patent activity to address the port.
Just have to continue to do your DD.
Company didn’t miss. Majority of extension was driven by new FDA requirement. They only had a few tweaks that are largely completed based on IP flow.
Yes, that's fair. Not ideal to further dilute here but that's some good peace of mind.
Still need to vote yes for the consolidation in this plan.
Agree, but I think the ratio is irrelevant, it's just getting to a price required by the exchange.
IMO they wanted to be at a point where they have enough momentum building near-term to support the uplist. They have been on a lot of road shows, hosting investor days, in addition to significant travel/conferences coming up.
Voting against the reverse just doesn't seem prudent to me. The OTCs foster an inability to raise capital, which is why the impact of dilution has been significantly worse.
Can I ask anyone willing to share why they believe it's better to be on the OTC exchange versus a more regulated exchange that allows for institutional investment?
I understand the stigma around reverse splits, but this is a game of valuation and execution, not short-term share price fluctuations.
I think it's completely related to timing and management's confidence in building momentum into and after an uplist.
Despite the delay, we are much further along than most naysayers want to acknowledge.
We actually get into the regulatory process in just 7 months. The milestones have been stretched and rearranged but I'm excited by the new "surprises" that have been uncovered during the improvement process and will be PR'd soon.
It's getting to a point where anything can happen. Starting to become a risky time to be on the sidelines if you are strategically long on this platform.
Completely agree.
Would also like to hear valid points to vote against a reverse.
There are inherent risks, but the pros far outweigh the cons to me.
Good points. Only other point to make, or clarify, for those that don’t know.
THE OPTIONS GRANTS ARE NON-DILUTIVE
This was just a drawdown from the current balance.
“Titan has reserved and set aside up to 10% of the issued and outstanding shares of Titan for granting of options to employees, officers, consultants and advisors.”
To me this just further supports the notion that there are likely many connections we are unaware of.
Thanks for the update. All of this is consistent with what I have heard directly from Randall, including a few classic lines. Disregard others on the board who are upset with your account of the conversation.
IMO Randall is pretty by the book, and he sticks to a very consistent script, fully aware of avoiding any non-public information, including any general discussion around suitors or partners. He is only in a position to deny or defer.
After Bernie 2.0 black-eyed Titan, he is definitely aware that there can be no noise around their operations.
I also think that Randall is somewhat out of the loop. He recently bought in the last offering, which represents a good chunk for him based on his compensation. I also believe that McNally has not been buying because he is privy to loads of non-public information.
Time will tell. L&S.
Based on current S/O, I hope to see $1-$1.25 a year from now in a normal state of business if they hit milestones.
If they announce partnerships of any kind or other m&a type activity, could be significantly higher.
Could also be $0.209.
The roadshows are to spur interest from institutional investors to support an uplisting when it occurs, as they are mostly restricted from OTC investment.
This has been covered a thousand times at least.
This is a great development. Can't see many other options of what this implies besides preparing for a reverse and uplist to NASDAQ. All in the next few weeks we have:
2 institutional roadshows
Bloom Burton conference
Columbia investor day
Alot of activity for Titan. Only a matter of time until we're bull steam ahead!
L&S
I also received. These are not open events.
Very exciting and hope between the roadshows and investor day we are preparing for uplist with institutional support.
Good times ahead.
McNally has been doing fantastic job. He executed on all of 2017 milestones and remapped based on changes confirmed by FDA and surgeons, which all players will have to adapt to, and as evidenced by Medtronic delay.
The robot looks AMAZING and is looking to be a true disruptor.
Great things coming to the industry and can’t wait to keep making progress. Hopefully without a ton of dilution and an uplist to get some deep pockets to support the share price.
Also agreed SPORT19 should be removed. Off topic and emotional posts seem to intentionally and negatively impact the board. I put him on ignore and it’s been great.
New end effector patent. Continued progress.
https://worldwide.espacenet.com/publicationDetails/biblio?CC=CA&NR=2982615A1&KC=A1&FT=D
ISRG should continue to push higher with industry expansion, etc, but with a closed platform and major players coming to market, that could change very quickly.
can you please send link to that
It's the lesser of two evils.
Either board up shop or dilute existing shareholders.
If you can get cash now to make a positive impact rather than speculate on market conditions or investor appetite down the road, then prudently, you must raise.
I'm not even remotely happy with the continued equity offerings, but as the team is hopefully exploring non-dilutive options, this is the path.
My assumption is that they are building a war chest of cash as cushion and requirement to uplist.
At the end of the day, I probably don't have a conflicting view compared to you, just choose to take the long-term view and stay objective on the steps to that end game.
Only $7.5mm? That's a huge investment.
How do you spin them being able to raise that much money if it's as dire a situation as you indicate? And at these levels?
Focus on short-term PPS is completely irrelevant. Soon enough Titan will be on a big boy exchange with big boy investors and hopefully that ends much of the manipulation that curses this phenomenal opportunity.
SPORT, why are you posting about that stock here? Isn't this against your dearly-held moderator policy?
Bloom likely had received enough investor interest to fill and close the offering and probably had allocations to fill the max on the first day, which is why they said no more shares.
Given the delay and noise created by the Bernholtz allegations, assuming some potential investors bailed or allocated elsewhere by the time the OSC got through the process.
We closed above the min and have a ton of money in the bank.
No room for negativity today. Big closing, big things ahead.
Very exciting to get another load of capital in the bank! Now we can rest easy through 2018 and focus on execution from Mac and team - exciting times ahead.
IMO, roadshows and news to come and no need to dilute more than necessary at these levels.
L&S
there is no lawsuit.
there are allegations against a former board member that were brought forth by the OSC.
titan has no involvement.
Yep that’s for the old one. Nothing new. Thanks.
Hope we get closing PR this week or early next.
Can you send link? That final prospectus filing is related to the previously announced raise
Yeah looks like Bernholtz turned out to be a snake. Sold prior to offerings and bought back on dip. He illegally didn’t report the trades to the company. Shouldn’t affect Titan.
http://www.osc.gov.on.ca/documents/en/Proceedings-SOA/soa_20180328_bernholtzm.pdf