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The information that I received from the company is that in lieu of money to do work, Cambridge took shares. Aspire is the float financing to get Titan to the next raise. Titan is going to have to do another raise, whether they will be successful, remains to be seen. At this point, i take everything with a grain of salt. Take it for what its worth.
Well would that not be material to report?
Please post the press release or shareholder update or anything that says Cambridge put money into Titan. Please also post the terms of the Cambridge investment. I have been unable to find it. I have asked Rocko several times and he obviously is just speculating.
Their buy rating is based on Piper will probably attempting the all US raise.
CE Mark will have fewer hurdles.
CE is an easier approval process than the FDA.
No, ISO wont hurt, but in the bigger scheme of things, I don’t see it as something that will move the stock. I hope that I am wrong, but we have bigger problems.
I am a shareholder, and I have been in Med Device for 25 years and have spent some time in robotics. ISO IMO is not going to do anything for the stock.
Who cares about ISO? I will be surprised if ISO turns out to help the stock
I don’t know specifically who is doing the software and make no claims that I do know. I do believe from my internal conversations that there is a software issue. I did not get a direct answer and I am making an educated guess. By your logic, you cant prove that Mickey Mouse and Donald Duck are not doing the software either. You can speculate that it is VERB, but speculation is all that it is. Quite frankly your answer is ridiculous.
I have asked several times for the Cambridge terms, as far as I can tell no terms have been disclosed. We have no information on the financial deal between Titan and Cambridge. We don’t even know if Cambridge bought shares. We also have no indication of Verb doing the software. Please post documentation of financial terms and Verb relationship, you can’t make claims and not have evidence.
So as partners JNJ/Google could not figure it out, but JNJ on their own will. That makes no sense.
If JNJ/Verb were involved with Titan, Titan would not have financial problems. There are no concrete reasons to believe JNJ is involved with Titan.
Where do you have documentation that VERB is a subcontractor for Titan?
Where are the terms? All we know is Cambridge has a stake. We don’t know how Cambridge acquired that stake, we don’t know anything regarding the financial partnership. The lack of disclosure is bothersome to me.
Did Cambridge buy shares or were they given shares. If Cambridge is financing Titan where are the terms, I have not seen them.
You ever hear of product recalls. Products that have made it through the FDA and when scaled, problems were discovered. It happens all the time.
They clearly have not gotten the job done, but you fail to realize just how complex this is. As someone who has been in med device for a long time, companies don’t often hit their timelines.
I don’t think they were lying when they though that they were gong to submit to FDA this year. When they said FDA submission might be delayed, I certainly don’t think that Titan told the whole truth.
It was hardware design freeze if I am not mistaken. Software is ever evolving and there will always be upgrades. I still believe VIA educated guess that the software could be the problem, but hardware design freeze is not infallible and I would also not be surprised if there are hardware tweaks as well. You can all scream that they are liars, but I have seen first hand how this stuff gets built. It is not that easy.
As someone who has worked in robotics, you cant come out with a robot that wont sell. See TRXC. If you don’t have a robot that can compete with ISRG, you are wasting money getting it approved. While I don’t know how good our robot was, I highly doubt there was confidence in it.
Well, I am wondering if Titan owed CMD money and they took shares on lieu of being paid. I of course don’t know the answer to that, but this announcement has a great deal of read between the lines in it. The flip side of that is CMD could be doing work and getting paid in shares. At the end of the day, a press release should be clear and this one is not.
David McNally, President and CEO of Titan, said, “We are pleased to announce our expanded engagement of CDP, and welcome them as a shareholder. Since engaging with them only a few months ago, their highly qualified engineers have leveraged their deep domain experience while demonstrating an ability to understand the exacting requirements of Titan’s robotic surgical system. CDP engineers have improved Titan’s multi-articulating instrument designs with the objective of demonstrating performance improvements, along with the potential for reductions in the target costs of commercial devices.
What does welcome them as a shareholder mean? Were they given stock?
Many guys on boards only have their options.
Like I said, and we all know, things are not good right now. From what I can gather, Zaring and Fed think the technology pretty good and want to try and get the money raised.
Federico is helping him, but they are not really finance guys.
I did not say they were in the middle of a raise, Aspire is the lifeline to funding. They are trying to find money and it does not look good right now.
I agree MC has failed, it comes down to him to have work validated. We are however in the position that we are in and while I would love to see MC go, unless you have a replacement ready, this is not the right time.
Let’s just say I heard this from the more recent crew. As I stated, it was point blank asked which sub was the problem and the question was not directly answered. My educated guess is it is the software company. Titan is going to try and raise money, and everyone on this board better hope that they do. While I would love to be put out of my misery and have this acquired, I just don’t see that happening. Aspire is the float to a raise, I am not very optimistic, but I know that they are trying to get a raise or any financing done.
Oh that would be great news. I am no Mc fan, but getting rid of him now, would certainly be the end of the company. Titan needs to get funding and a CEO search in the middle of a raise, is not going to work to well and Zaring is not a CEO. He knows commercialization, so unless you have somebody ready to go, you don’t get rid of Mc.
I bought my first shares in 2010 or 11, With all the talk of IDE submission and the fact that this mgt team brought on commercialization guys, they thought things were progressing as planned. Federico and Zaring were brought on to commercialize the robot, that is a fact. During Zaring’s and Fed’s due diligence there was nothing uncovered about the problem/problems. That is a fact. The other thing is Zaring left a job and decided to take just options, which means during his DD, he thought that Titan was going to be worth something sooner rather than later. From my conversations there was one subcontractor that has not worked out well. Although, the contractor was not specifically named, my educated guess is the software company. All of this does not change the situation we are in, but that is basically what has happened. I am currently holding my 50k shares and am going to see how this plays out. I am not very confident at this point, but they will try and do a raise and if that fails, I don’t see the patents selling for very much.
So you hire commercialization guys, knowing that you are not going to commercialization anytime soon. I doubt that. I can tell you Fed and Zaring did not know about the problems.
I have posted this several times. They are commercialization guys. They were brought on to bring the robot to market and they did not know of the issues. That is why I also believe that Mcnally did not know of these issues and Mcnally was blind sided. The issues that were discovered were discovered after Fed and Zaring came on board. My understanding is that the issues lie with the software company.
It is about PIPER doing a pump and getting ready for the US only raise. It is a total joke.
Like I have posted before, I believe Piper is going to be the one doing the US only raise. The fact that they can put a buy on this stock in my opinion is absurd.
AXSM has had success in P2 and P3 trials and their market cap has skyrocketed to over 3B. TMDI has pushed back their IDE timeline again and Titan says they need a 100mm to get through FDA. You can raise money when you are moving towards success and biotech has very high multiples. Robotics has high multiples as well, but Titan has spent 10 yrs spinning their tires in the mud and not making much progress.
All of HC’s scenarios are nonsense.
Ii will ride this out, but if Zaring and Fed leave, I might not.
It would be pennies on the dollar. From my conversation with Randal and a board member, a sale that would make shareholders happy does not seem to be in the cards right now, and the impression that I get, is no one really wants to buy TMDI. If a good enough offer were made, I think shareholders would vote for it.
Well your choice is bankruptcy or dilution. I will take dilution.