Titan Medical Inc (TMDIF)

[66Mustang]

Current draft includes the following:

We have no indication from the company that costs are under control or that the suspension of development work will be lifted at any specific time. Given that Mr. Laviolette is on the Ximedica Board of Directors and is also the Chairman of the Board for Titan’s competitor TransEnterix, it could be questioned as to whether the disruption of work at Ximedica was truly warranted. Titan chose them for development work despite this apparent conflict of interest, and we can suspect it may take more than a reasonable effort from Titan before Ximedica resumes work on our program.