Titan Medical Inc (TMDIF)

[RockoTaco]

Yes, I do believe that the $12.2M is part of the $17M towards Q4 Milestone. Millions of companies put in Purchase orders and then pay on them when delivered. Those $12.2M in PO's are for the following:

Final Robotoic System developed and placed for clinical trials
End Effector supplies for system
Training program at SAILS
Etc.

Once the finished purchased product comes in, they pay the bills, it does not mean that those bills are all due in April or May.

Also, if you read the MD&A, they discuss the next step of setting up a sales/distribution partnership - which IMO that will be how they come to market - thru a bigger companies sales/distribution/marketing channel.