Good Afternoon!
Well I had a good conversation with CEO John Barker. He seemed very truthful and positive. I mentioned to him that we are very concerned with the PPS, as was he, and the company. They are presently seeking private funding. He stated that the last couple of offerings to raise capital wasn't what they were seeking . He acted like they would of raised more money than they did. Sounds like a lot more money is going to be needed to get the Sport to market. I asked if we would see more dilution coming in the quarters a head. He said yes. He stated that they think there's enough long term investors that will remain with the company, which will help stabilize the PPS. He said he doesn't see it going much lower than it is right now. There will be investors selling off for tax relief. Mr. Barker said 2017 will be much better than 2016, with a new CEO in place by the end of the first quarter. They have a shortlist for the new CEO , and that the CEO would be able to brought up to speed quickly as Barker would be working with him. I asked about Timelines, he said the new CEO would determine those. Ask why the old were taken down. He stated that they weren't realistic, could not be met. He said everything change back in Nov. of 2015 when they were told by Hospitals and Insurance companies that they would need more than 1 kind of indication with the Sport. So they decided to change then, knew there was going to be a set back. Also the FDA gave them stricter guidelines to go along with the change to the Sport! That's when investors got upset and started to sell off. PPS did go down from that point. They saw this coming , but think in the long run the company will be better off. So at this point, he see Titan gaining ground in 2017, The software is coming along nicely he mentioned. He stated the companies management is dedicated to bring the Sport to market, and their core values haven't changed. I found Mr. Barker to be genuine. I tried to get timelines and time sensitive answers and he simply said he couldn't answer them. He would be breaking the law and he wasn't going to do that! So I think were headed in the right direction. We will know a lot more once the new CEO is in place next quarter.
Good Luck Everyone!
Have a great Christmas and New Years. I hope I was a little helpful.
