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it sounded like there were 3 people clapping at the end.
Go to the rodman renshaw website click on webcasts and select the Titan link. You have to enter your info but it will let you through to the webcast- no payment or membership required. T minus 1.5 hours!
I think so.
I just watched the 2017 AGM and it was encouraging. At least it seems McNally is confident in the steps leading up to commercialization and Genova seemed competent. Of course, that meams nothiing if we have no cash. But, we're steam rolling forward. McNally touched on the improvements including making the camera head as flexible as a flexible endoscope, I assume he meant like a flex cystoscope. He also continually refers to small tips which are precise. I think the system as a whole will allow for degrees of freedom and will therefore be more precise.
Everybody - tell Santa you want funding for Titan for Christmas!!
I've had a sense for a week that today would bring an announcement. Maybe it did implicitly.
The silence is deafening
I'd argue in this circumstance, no news is bad news. Perhaps they are thinking the opposite but that leaves us alone to speculate. They need to control the narrative. Right now it seems like they've deployed their emergency parachutes leaving us speeding towards the ground. Perhaps that's a bit dramatic but we have no money and we don't know what the plan is...what gives?
Even a simple "hey sorry I can't go into detail right now, but we'll have something for you shortly" would do... no response makes them seem indifferent
I emailed McNally last week or the week before and have not received a reply.
Hey we're already up 1/100th of $0.01 today, I don't know what else one could ask for!
Triads...yakuza are japanese
I think the question is, do they have a choice? We need to come up with $60M before FDA approval can happen according to leadership.
I realize this is a marketing trap article but humor me for a second...what are they taking about? The article is a couple days old and they are referencing prices in the $0.4 range....can't be CAD...what gives? What am I missing?
http://presstelegraph.com/titan-medical-incorporated-titxf-cant-be-more-hot/
Not CEO, CFO. I think McNally is doing a good job. We need a better financial officer.
Thank you sir. You are a gentleman and a scholar.
Precisely. We need to know the plan. Perhaps they have none and are holding back for fear of massive investor sell offs.
I wrote an email to McNally yesterday inquiring on the plans for funding to commercialization. Have not heard back.
Mustang et al., perhaps we can continue to respectfully write him until our concerns are addressed? It's game time and the next Q will make or break us. We need to know the plan.
The more I think about it the more Im realizing the only way out of this mess is to replace Randall with someone who has a track record of turning around companies in financial peril. Without a counterpart in the CFO role, McNally's hands as a turn around guy are tied.
We have 4 months until we are flat broke. We cannot afford another hiatus. If Randall does not commence a viable and creative funding measure by the end of September, we need to vote him out and replace him, or we're sunk.
Good PR is a dream and will not raise our SP, at least not anytime soon.
Issuing bonds is a death sentence unless you can find a guy who's really good and has proven he can convince people to buy in our junk bond rating situation (No revenue).
A partnership could bail is out but seems unlikely with the anemic shelf offfering and us being so far from commercialization.
No word from leadership about how to move forward with funding.
Companies are valued based on their returns. We offer none currently and not looking like we will any time soon. so we are only as valuable as our SE and IP for now. Not an attractive asset even for a risky one.
My confidence is waning. We need better communication on the finance plan.
We've picked this apart over and over. The only new thing I'm offering is we need to get serious about a new proven and creative CFO before it's too late.
What gets me about that interview is the hosts talk about robotics for 9 minutes...a conversation that could be had with ANYONE from an OR, and gives McNally 1 minute to describe Titan. After watching that I would feel no more compelled to invest in Titan than before...they should give him time to push the product.
Perhaps an inquiry to McNally is in line. Can he give some insight into a financing road map to inspire confidence?
If an underwriters would issue $60M in bonds, at ccc rating the monthly coupon will be $500- $600k, how do we pay this? Perhaps I'm missing something but this does not appear to be a viable option. I don't have all the answers but it's clear some value proposition is required to investors. An RS now is a poor option too. Hopefully there's a rabbit in a hat.
There's no way forward without some pain. Poor management has made this our reality. The only way I see forward, absent a buy out, is a RS to uplist to reach the broader market. It's obvious the OTC market is tapped. Debt is a good mechanism for leveraging higher margins but you have to have operational cash flows from the subsequent capital investment to service it. I'm not sure it's legal, ethical, or an underwriters would even consider issuing bonds for a R&D company. You cannot service interest from the principle of the loan itself, that's called a ponzi scheme. And I'm not sure investors would appreciate decimating equity to service the debt, or if that follows GAAP. Down the road debt will be required to grow, right now it's a poison unicorn.
Taking on debt is a sure way to scare off investors. And who's going to buy our debt to begin with ? We have 0 revenues, how are we supposed to service that debt?...it won't happen at this point. If we made a debt offering it would get less reception than our last equity offering. You wouldn't make a loan to the guy in the unemployment line would you?
Old timers: the last time sp was this flat for so long was may-aug 2013, does anyone remember what was going on then to cause the protracted flat line?
What's encouraging is Titan has no debt, so if we run out of funds, we wait. We don't have to close shop necessarily. Our tech is attractive, we just have to wait and pray we make it to market, and in time.
Hit send on accident. I Agree with DRG...McNally wouldn't likely trash his reputation.
Agree with
I work with them, in my experience the ones who use the robot tend to be more engaged, fortunately. And theres a whole crop of young surgeons raised on robots!
Mustang you are correct about ISRG customers, although that's an understatement. I know firsthand the abhorrence many hold for them, based solely on the way they treat their customers.
My intent with the technical analysis is to understand how analysts will justify a price once we aren't a speculative investment. That will help set expectations for now and in the near term.
I see your math and I think your assumptions are in line. I think your scenario is what we can hope for in 5-10 years after commercialization. My struggle is seeing how we get from where we are to set the stage for that.
Based on the conservative estimates of the company, revenues would not be so high off the bat. If you perform a DCF from their estimates the PPS was not as rosy.
Once we commercialize, growing the revenue is the challenge. our product requires capital outlays which require advanced budgeting on top of need (a facility that just purchased a davinci SP or XI is not likely to turn around and buy a sport so quickly). But we may have the resentment factor in out favor. ISRG is only getting worse in their tactics, knowing their salad days are behind them.
In the long run yes, it has everything to do with earnings, that's what drives stock valuations. If the shares are too diluted our risk premium will not be sufficient. It is clear the RS is imperative to our survival but I think timing is key to its success.
There's a risk with performing a RS now, 1.5 - 2 years before we see sales revenue; our status as a R&D company with no earnings will not necessarily inspire much confidence despite a higher SP, as we have seen over time with Titan. Even with good news in this timeframe, SP will likely continue to sink after the RS (as is precedent) and the market cap will shrink further. Where we're at now, there's not much further down to go but after the RS we have more room to plummet.
I think we need a solid upward trend in SP prior to the RS. This may help raise the money by showing capital appreciation. Theres no good answer as to how best we can raise $60M through a public offering. But If we cant raise a full offering at these fire sale prices now, why will that be different in three months? seems more and more that a partner/sale is the only way forward.
Adrock I think you are correct. Unless the shares outstanding is reduced, the PE will be too high and dividend% too low (non existent) for investors when sales commence, for such a high risk security. The potential for this company is well and nice but doesn't translate into much (as is evident) and won't suffice to carry sp upward without solid financial results.
One would think FDA approval would be a huge boon to sp, its hard to imagine that not happening, but time and time again Titan has been the exception to the rule with good news. The only thing I have faith will reconcile investors aversion to this company is actual earnings. Proof of concept.
I can't see the future but I believe the only thing that can move the needle is sales. Until then, we are a Canadian r&d company in which no one's really interested.
Imagine investing in seaboard Corp at $1...but alas here we are...if onlys and justs were candy and nuts, every day would be erntedankfest
Can't wait for the headline "Titan announces first commercial sale of SPORT robot, shares slide 40% on the news."
Gives new meaning to "march of dimes"
Slight bump from .1115 to .118 just now but well within std dev
Curious...I'm not showing any level II data on TD currently
Too bad this is on SB wire (has anyone ever used them? Heard of them?) And not WSJ. Anyone have a connection at WSJ or Forbes? Even just an article about the future of surgical robotics could net a mention for us...that could be astronomical. Maybe then motley fool will pick us up .... "this stock could be like buying amazon in 1997" and what have you. But I dream.