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In terms of price action, and what I got from chart reading over the years, everything so far is normal price action.
The drop is likely profit taking.
In terms of technical chart interpretation, the drop represents a retest of the 200 MA.
A retest of support levels (which were previously resistance levels after breaking through it) is entirely normal, and when a stock runs too fast and too high, traders start selling.
The 200 MA is 3.40 right now, which we may hit Monday, with 3 scenario's: 1) support at 3:40 will fail in which case we had a false breakout, 2) it will consolidate before another run 3) it will bounce back, or not even hit 3:40 and start another run right away.
Given the strength of the run so far, I suspect it will be either 2) or 3).
1) could happen if we get bad news Monday morning...
If 2 and 3 happens, and it's another run, then it can take us all the way to upper 5s with an ABCD chart pattern...
There was a time that Honey would tell you to exercise them and donate to the company! Now he wants another raise...(it ain't coming)
Interesting that Northland securities thinks it might be IP related...sounds like Verb hit a snag with IP costing them 2 billion more than anticipated...
Makes one wonder about the value of Sport based on IP value alone..
I think they're ready for either possibility...they have to be..
And it's been clear it won't be full sales force at the start...but a limited commercial launch for the first 6 months or so...at centers of excellence to ensure proper support and training (and no f-ups in surgery).
Those first sales and centers are probably already in the works...
It's all possible...
One thing is certain though.
At the next investor's meeting, Randall will show one of his graphs again comparing the return of TMDI to investing in one of the bigger exchanges.
He stopped doing that for a few years for obvious reasons..
I think so, I'd like to see press release next week to take us back to pre-RS levels...
"30 million from warrants...fully funded until FDA submission..."
Just bounced off the 200 MA...good sign...may retest again though..
As long as we close today over the 200 MA this time, we have a good chance for more gains the rest of the week (3.42 I believe).
Well, that sounds steep to be satisfied...unless you bought in at highs and did not average down. I don't really dream that high...for now..since a 200 pps would translate to around an 8 billion market cap with anticipated dilution ...that's a lot of money....
Not impossible longer term, but shorter term, 15-20 end of year..and triple that once FDA approved with pre-orders would make me very happy...at which point one has to decide whether to sell, or wait for actual sales numbers and/or a buyout...this board will be interesting at that time..if we get there...
So basically, back to historic highs of 2014...which if you bought in at the time without averaging down, would help you break even...
Sounds to me like they are having issues and delays...
Nice close...It's the third time since Jan 8th that it has been trying to break past the 200-day MA at 3.40-3.45, and each time it hits that wall, resistance gets a little weaker. Next week....we'll make it!
Good weekend to all...time for a (little) party...finally...
Yes, very positive.
On raises, I think once we get through a level where the $3.20 US warrants are exercised (very crucial at this point), we won't see any more raises.
There's more than 50 million CAD in warrants outstanding, that are all in play up to a PPS as low as 9 dollar US. I think we'll easily get to that PPS before end of 2019....and plenty more money in warrants beyond that for 2020 to come into play at a higher PPS...
Sounds good Flenderson. Pleased with the reduced timeline for design freeze, which was previously estimated in August...
Testing support levels. It needs a breather I think. Onwards to 4 next week!
yup..14% up...
I think we're very close to being past that question...on whether or not debt or a raise will be needed. We have to shoot up into the high 3's...it can happen before the end of week already ...
That's still only 13 cents pre-RS. We're still very undervalued, and while the recent price action is a relief, we're still not getting fair value.
A 200 mil market cap sounds about right where it should be right now....more once design freeze and submission happens...
They'll let us know if it was substantial, but I'd have to agree with some others that it is unlikely any of the warrants were exercised....but who knows...the volume was extraordinary...something might be up...
If there were...they'd let us know soon enough...like in this previous release...
https://titanmedicalinc.com/titan-medical-receives-cdn-8-4-million-from-warrant-exercise/
At that time...warrants started being exercised at around 25% over the strike price, but the substantial part appeared to occur in a short period when the price spiked 80% above it in a period of 4 days.
so it can happen quickly regardless of expiry date...but with a spike of of only 1 hour...i have my doubts...yet no explanation for the crazy volume of that day either...
Flying high...!
Yes, everything looks like we're back in business...more a matter of relief than excitement, since so much ground to make up, but quite happy with it.
I must admit I have not listened in yet, but if it is true they are funded for Q2 2019 then that is great news, to give the PPS a really good chance to get up and warrants to be exercised.
They were barely funded for Q2 before, which means their anticipated costs went down, and a raise at the end of this year would be much more likely.
It's not just that...whether he'll be voted out or not. If there's another raise, it's a signal that there's something very wrong with the current timeline and the anticipated costs. It would be the end of the road...
I don't believe it will happen and feel cautiously optimistic about what is ahead....
if it were not for the past, it's a great time to buy into this at this point in time.
Year-end and tax losses...it's just blah...don't believe in it. It will run very fast and high from here if just given a chance...and the timing is there...news or no news...
Like I said before, no raise is coming because suckitup said one would be coming.
He's a great predictor, and a great asset to the board, but you just have to put a minus in front of his prediction (i.e. the opposite of his prediction).
As far as getting into his mind and the reasons behind the predictions, I would advise against it.
A raise is unlikely at this time, even for Titan. Far too close to the last one....and besides...SUCKITUP is predicting a raise, so it's a very safe bet there will not be one
McNally did say "we will remain opportunistic" regarding raising money at the last AGM, and so they did, as all well know....but I think they changed that tune a bit since the last raise...
I'll make a bold prediction...which is that there will be a reference to a strategic partner in the conference call, not by name, but in terms of there being a "promise" in place...
That hurdle of 2.15 was set on the day of August the 18th as the close of that day after the final prospectus was announced.
The market not yet ready to get past that black day yet, but soon I think...once we do, not that much in way till 3.00 or so...
It's a great patent, and confirms the "best in class" approach as well as a confirmation of meeting those goals. Very nifty...
So...encouraging...and even very inspiring were it not for PPS...
Looking at the volume today, lots of buying interest, but met with sellers at the same time, so shares are switching hands. Once those sellers dry up, on-wards to 3.20 and above...got the feeling we'll see some PPS movement soon.
I just read the patent. It's pretty good stuff as far as I can tell, and unique in the surgical robotic field I think with imagery and data displayed during positioning - Genova and McNally are the inventors. Also, it's some sort of confirmation of milestones being on track...
Oh yes, it will. I'm far less worried about the next 12 months than what comes after. It's pretty much set as to what will happen in that time.
Beyond that, no-one really talks about it yet, but we have to prove clinical equivalence to a predicate device, and there's really a lot of stuff up in the air about that.
Is the predicate device single PORT and urogical indications only as per the SP of intuitive? Or is the predicate device as per multi-port and all the abdominal procedures? The FDA first and foremost wants clinical equivalence, but no-one knows anything as of yet, and what the FDA wants exactly, and what it will mean in terms of human trials required. If we do get FDA approval, I would not be surprised it will be initially for one indication only. But I'm no expert here, just going by my gut here and reading between the lines of the M&A, and anyone please show me wrong.
It's still a long road ahead till we get into the big money. But, first things first. I'm sure we'll have a nice cushion with a PPS over 10 in the next 12 months to be able to take the next blow. I can't imagine not getting the 3.20 warrants soon. Seriously, we're talking 0.10-0.11 cents here.
Have a good weekend.
Some resistance here. We'll need another uptick to flush out the rest of the shorts.
There'as also Healthquest capital (https://www.healthquestcapital.com/) that funded our present chairman of the board (Venus Concept).
But they'll probably only come into the picture later on, when very close to commercialization and revenue is imminent (pre-revenue companies is not their primary focus).
Strategic partner first....
A strategic partner is definitely in the cards I think over the next few months, or sooner I hope.
WRONG!!!!!
Several people on this board don't realize it fully, but their posts are very orchestrated attempts to get retailers to sell and drive people the price down. Not all are professionals, but some are, and where there's money involved, they stop at nothing. Good riddance...
Don't be so vindictive sport, not good for your health.
On its way to fill the gap till 2.70.
Have the shorters disappeared from the board? I have put so many on ignore the last week that I cannot tell. In any case, if they are gone, that means their fleeing their positions in the market as well.
They have design freeze listed as the first entry in second half of 2019, so end of H1, beginning of H2, smack in the middle.
They made it very clear that the design freeze has to before the next pre-clinical studies start, which is second half 2019. So end of H1 or beginning of H2...(not end of H2 for example)
They have to, cause they cannot make changes the machine after that. Any changes after that would invalidate the pre-clinical studies for FDA submission in H2 (this is why they have to do these studies over again next year to begin with the recent design changes).
But as Mustang said, the "unofficial" design freeze is early next year already with room for minor changes if needed until the official design freeze that the FDA will go by.
2018 Q3 is all subsystem work. 2018 Q4 is putting it together in one machine (the confidence build). First half of 2019 is testing the machine, documenting everything and some minor updates - very boring work but needs to be done.
So, in terms of a car, 2018 Q3 is having all parts of the car and engine strewn all over your garage floor and improving on its part. 2018 Q4 is putting the car back together in one piece. First half of 2019 is taking testing the car inside the garage itself, updating some things, and documenting it all.
After that, they will take it out on the road (pre-clinical studies)
Yup, the technology is the solid constant here in terms of popularity. McNally...not so much...a function of PPS...
Without overthinking this, it all comes down to getting the money whenever and whichever way he can. He has no hesitation there. It seems to be his thing, and it backfired this time. Otherwise, I have no complaints. They'll get it done and the main reason why we'll be back up there again.
Nice point of entry for a stock like this. As you say, we hit 14.00-something less than a yr ago....Simple logic dictates we will do so again the coming year...pre-FDA...
Yes, they are definitely not ahead....more likely quite far behind encountering the same issues as Titan has...
"...software/hardware integration and testing is taking longer than expected." was the phrase in the last conference call...
Sounds familiar not?