Titan Medical Inc (TMDIF)

[ddreturns]

Yep, just read that. Also states that they feel they will need to raise an additional $30 milly after the distribution deal closes to get to US market launch.

Additional funding will be required, despite completion of the Offering, for the development and commercialization
of the SPORT
TM
Surgical System, currently estimated at approximately US $57 million. At September 30, 2015, the
Company had approximately US $10,085,394 in cash and cash equivalents and working capital of approximately US
$3,644,644 excluding warrant liability. The Company anticipates that it will be able to continue to operate for 3
months from September 30, 2015 based on the current amount of its cash on hand and short term securities and its
current rate of expenditures, not including the proceeds from the Offering or funds received or receivable from
Longtai in connection with the Letter Agreement. If the full proceeds of the Offering are received by the Company,
it is expected that the Company will be able to continue to operate for 5 months from October, 2015 based on the
current amount of its cash on hand, short term securities, the proceeds from the Offering and its current rate of
expenditures. The Company expects that approximately US $30,000,000 in incremental funding will be required by
the end of 2016 to maintain it’s currently anticipated pace of development. If additional funding is not available, the
pace of the Company’s development plan may be reduced and the Company may not be able to continue as a going
concern. See “Risk Factors”