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I will let you know whey I get the details. I don’t have those yet, but anticipate I should in the next day or two.
I am not sure that I do, I will tell you many of the things he has told me are coming true. I threw a small amt of money at this, and it was complete speculative money, I am looking for exit points moving forward, but that small amt of money is up very big right now.
Google from what I hear offered a monetary settlement and maxd refused it. Google is also asking for mediation now, Netflix was also added to the case. From what I heard the judge said this is the big guy killing the little guy. This is not over, but I do not know how it ends.
GH says there is a great deal going on with the business side and the law suits are obviously going forward. I actually do think they have a shot at a settlement with google. Google if I understand correctly did make an offer that MAXD turned down. I do not know what that supposed number was. I have been waiting over two years for this to come to an explosive event. I am hoping this is it.
Well as much as I am not sure about GH, he has predicted all this. We shall see how this pans out. Volume has certainly dropped since Friday.
1/2 way
Whatever, believe what you want. Zaring was no mole. You believe Zaring came over to put the deal together with MDT and then he left and collected no money.
Call it what you want, Chad was not some secret mole put in to titan by MDT. I am not bashing Titan, I have been invested since 2011 and bought an additional 100k shares when the MDT came together, but this Zaring conspiracy theory stuff is ridiculous.
Chad was not a development guy, he was a commercialization guy, and Mazor is not a competitor to Titan.
I talked to one of the board members of Titan who told me this. I also know people who know Zaring. I know what the MDT non competes say. Believe whatever you want. I know what happened. Zaring was hired as the chief commercialization officer and he had to try and raisie money, so he lleft. You really think he came to Titan to facilitate a deal with MDT and then leave behind all of his options. You are kidding yourself.
And those agreements in almost every state are unenforceable.
And the non competes in med device on the sales side, involve products that you sell or have intimate knowledge. Mazor is not a competitor of Titan. I know what these contracts look like. By the time Titan had a commercial product available Zaring’s non compete would have been over anyway. Zaring had nothing to do with the MDT deal and Zaring left because he wanted out. Believe what you want, I know for a fact.
Mdt is the reason thet Titan is surviving and I do not believe that Zaring knew that the deal was coming, otherwise he might have stayed.
I work in med device and I know what the non competes look like. I also have very good friends at MDT and I know what their non compete looks like. A non compete from the sales persons perspective does not cover things that your company does not have on the market yet.
MDT does not have an approved robot for general surgery, non competes don’t cover things that are not approved. Zaring did not violate his non compete when he went to Titan.
Zaring is a commercialization guy. He came over when they thought the robot was getting close to FDA approval. If Zaring thought Titan was going to survive or be bought out, it would have been very lucrative for him to stay. He left.
I can tell you why. They had Zaring out raising money and from a TMDI board member Zaring said “I am not a money guy”
Absolutely no way. Zaring came to commercialize the robot. He left and left all the options. Zaring was out trying to raise capital and that is not in his wheelhouse. If Zaring still believed in Titan or thought MDT was swooping in, be probably would have stayed.
What's next for robotics in healthcare? See how #roboticassistedsurgery solutions could help standardize procedures & enable minimally-invasive surgery. https://t.co/sXgMYqMnfB pic.twitter.com/GowLSheDZA
— Medtronic (@Medtronic) June 24, 2020
Money guy meaning, Zaring was not the guy to raise money, but Zaring wants to make money.
Auris purchase with all contingencies is close to 6 billion.
I know many people at Medtronic. Robotics is something that MDT wants to expand. MDT does very little internal development, so I think if Titan can execute MDT will be there to scoop them up. I will admit, I wrote Titan off and had no appetite to double down over the last 8 months. I have recently added though. All this Zaring talk is just talk, I know what Zaring came to do and I know why he left. I don’t believe Zaring was aware of an imminent deal with MDT. Zaring is a launch guy not a fund raiser.
Zaring was tasked to go out and get funding, that is when he said he is not a money guy.
If you read the bottom of the filing, none of Zaring’s options are vested. Zaring has zero options in titan. Zaring left because he was brought on to commercialize the robot and he was out trying to raise money. Zaring said that he was not a money guy and left.
Phillips owned shares in Corindus, but Siemens bought Corindus. MDT’s involvement in Titan, looks similar to how MDT acquired Mazor. MDT is horrible at internally developing products, and HUGO at this point appears to be a disappointment. MDT now has access to Titan IP, but I believe if Titan is successful MDT will own them. I thought Titan was dead, but Titan still needs to execute
Don’t disagree.
Case fatality rates are anywhere from .01 to point .08. You are looking at confirmed cases not estimated based on serology studies.
They will have to auction everything, but who knows who gets the IP and how much they pay for it.
No, they took the money as a bridge, but the secure debt holder holds all the cards now. I was involved with a company that had IP and the secure debt holder foreclosed and the IP was bought for less than 4mm and there was 100mm venture capital invested.
It’s the payments to the secure debt holder pal. If titan does not make them, the secure debt holder can foreclose. End of story.
An auction of distressed assets is not going to go well. A company that I was involved in had a cap of over 100mm at one time, had proprietary technology. The secure debt holder foreclosed and sold the business to some of the current employees and the secure debt holder only got equity. Nobody wants to buy Titan, and nobody wants to invest in Titan.
They would certainly put themselves in a good situation to get the technology. If they go I think chapter 9. The secure debt holder would have to auction titan assets. Titan cannot find the money to move this forward, taking this loan IMO is not a good thing. I still own 60k shares, but I have written this off in my mind.
We can all sue the officers and they have insurance for such cases. But the company will be gone if it is foreclosed on. The company that forecloses will likely have to have a public auction for the assets and shareholders would get the scraps. Who is going to fund the lawsuit? I was involved personally in a situation like this, once you have a secure debt holder, you are at their mercy.
If titan does not make the pmt, they will foreclose and essentially buy the company for 1.5mm.
They are first in the stack, they get paid first and also have the ability to foreclose.
If the robot actually worked, why cant Titan get money? Titan has been looking for money for months and no takers. Per the company little to now development is going on, so not much is going to change. The reality does not support your bullishness.
I doubt any options vested in 7 months.
Not a chance, Zaring leaving tells me that he does not think that a buyout is coming anytime soon. Zaring was also trying to shop Titan and find financing. The fat lady is warming up.
The concern is that Titan can not make their SP robot work. JNJ and MDT are struggling to make their multi port robots work. Titan apparently is not bringing any expertise to the acquisition as Titan has subbed out most of the work. If we knew what additional development were needed, it would be easier to know what it might be worth. The only company currently with SP is Intuitive, so you would hope that there would be some interest, but it certainly does not appear that there is enough interest to get 200mm out of this. There is a reason why JNJ et al have not already purchased shares and tried to get their claws into Titan. Phillips and BSC owned Corindus shares companies like MDT and BSC often take stakes in companies that they want to keep their eye on or purchase. I don’t know all the problems JNJ & MDT robotic programs, but Titan is just another headache. Titan has been trying to raise money for 6 months and no luck, Titan has ceased development except for Cambridge. This does not look good at all.
ISO has nothing to do with the performance of the robot, it is a quality mgmt system. ISO is not an argument.