Titan Medical Inc (TMDIF)

[66Mustang]

Cowboy - That is something I am closer to agreement on. I don't think it is at that point right now. If we collectively pursue legal representation, it would quickly get expensive, so we would want to ensure we have objectives which carry high confidence that it will make a difference. We would first need to think about what specific actions we think the company should take and how they differ from the current course of action. It appears right now that they are active in pursuit of a new CEO. They do not appear to have run out of funding again yet, but they have kept this as part of their communications so they are fully cognizant of their financial situation. At this point it appears that Plexus and Ximedica both remain engaged in the development process. They already have an active relationship with the FDA, so I suspect the viability of an early review program is considered,; it just needs to be appropriate for the program schedule. There may be some disagreement due to her name, but Paige is on board with experience in this specific market; she knows the competition well and knows the other related players including distributors and the largest customers). My only disappointment with Paige is the lack of communication including a mere mention from Mr. Barker that a plan is in progress. However, we know they plan to launch in Europe and maybe Asia prior to the U.S., which means some marketing plans exist. We are all curious about what those plans are but it would probably be detrimental (and possibly illegal) for them to share plans on how to market a medical device which is not approved for sale.

I think that we have their ear and their respect, so we are likely to help them at least as much by continuing our writing campaign when we feel they are straying from an optimal path. Right now, it seems they are doing everything they should be doing. The biggest issue remains monetary, and they openly communicated about that situation.

The last time we had major disagreements about the direction of the company, we organized and shared our opinions with them, and they acted accordingly. We have no reason to believe this relationship can't continue. The suppressed PPS is outside of their immediate control and further hindered by tax loss selling. Their job now is keep development rolling, find the new CEO, and secure more funding. Funding is required for development, and CEO should be part of the funding strategy, I would guess the logical sequence is CEO, Funding, then Development. It sounds like that is their short-term mission plan.

As for the 5-step Robbins-Arroyo plan you suggested:
https://www.robbinsarroyo.com/shareholder-services/

Combat corporate fraud and misconduct that reduce shareholder value - This fall, we helped them to change upper management to better meet company and shareholder objective.

Improve the honesty, transparency, and effectiveness of corporate governance - We have initiated bi-directional communications, and as soon as a new CEO is announced we need to ensure he becomes part of the communications team.

Secure fair value for your shares in the event of a corporate merger or acquisition - TBD, but it is good to keep this in mind if that becomes the future of Titan (I thinks the longs, of which I am one, would rather see them hit the market as Titan and reap more eventual profits but we need to help maximize a per share buyout price if it comes to that).

Remind officers and directors that they work for YOU – the shareholders - Also accomplished this fall, and we will stay on their proverbial radar screen.

Restore confidence in the integrity of America’s financial markets - I think this is beyond the scope of our interaction with a single tech start-up company and beyond the scope of one specialized law firm, unless they have a direct line to our President-elect.

May all be well and may Titan eventually be greener than my artificial Christmas tree!