Titan Medical Inc (TMDIF)

[diamond482]

I'm not reading it the the same way as your observing it Point. If what your saying is accurate then I would have to agree with you .... but the milestones on the web site read "units built and ready for engineering verification" for Q4 of 2015.

Engineering verification is very very different from Engineering completion. I'm being very pedantic but the difference is crutial.

http://en.wikipedia.org/wiki/Engineering_validation_test


What I am expecting 1Q is :

Description of a Feasibility Prototype

To establish the feasibility of a solution, all of the pieces must fit together properly. The Feasibility, or Technical, Prototype proves out some technical assertion that is key to the feasibility of the preferred alternative. It verifies that critical components of the technical architecture integrate properly and are capable of meeting the business needs.

Scope of Feasibility Prototype

The kinds of integration problems examined with a Feasibility Prototype are too complex to be addressed with paper analyses and simple reviews of manufacturers' specifications. Physical access to the equipment is required. Proof of concept tests are constructed to validate a conceptual solution.

I don't see a "Design Freeze" at this point. I'm "re-asking" cause your definately at an advantage since you've had the opportunity to be with and speak to these guys and I'm definately reading it differently. And dare I say ... the market is reading it differently also.

When you get a chance .. please comment Point ... your POV is appreciated.