Wow... I just logged in. The last post I read yesterday was just before the AGM announcement was posted. Catching up took a while! Not to mention digesting what may happen.
Since my background is all medical devices and very little investing, I have been all about the technology from day 1. I see this tech as a winner; I have had my wife with more robotic experience than most also looking at it all along (she is the one who first heard about Titan to begin with) and saying it is a true need. Just like when she told me da Vinci should be a hit because it can reliably spare the nerve bundle during prostatectomy so men can continue to have sex. Most men like sex, I thought, so she is probably right. Paid $11.65 for my ISRG shares (and unfortunately got out at $750/share). I mentioned I'm not strong in investment...
This time she is telling me single port, 3D vision, and the flexibility of the arms is extremely desirable in surgery. The relatively compact footprint, ease of handling, and cost savings are all just icing on the cake. This product will not fail on concept, it can only fail on execution. McNally executes. My confidence remains strong.
Okay, I was never a big fan of a reverse split. Always seemed to be like it drives the price up, giving it more room to fall back down. Almost like it could have some natural tendency to return to $.30 regardless of number of shares or Market cap or actual value. But in this case, uplisting seems like the natural path, and maybe sooner is better than later in terms of fundraising capability.
That old article saying Titan is worth $4/share for the technology alone still sticks in my mind. A 30:1 reverse split means we are looking at $9/share, about 6.2M shares, and same initial market cap. But the value analysis (per the article) per share would then work out to be $120/share. For me, the value proposition is everything. $9/share, or $6 with a 20:1 RS, is still the same value, and the idea of the share VALUE (technology based value) still being 15 times the current price is VERY attractive, regardless of what mathematical factor it may be scaled by.
With a market cap of about $60M and the need to raise $70M, we are looking at a dilution of over 50%. But the value proposition still supports that with huge profits available to those who believe - if, of course, they don't screw up.
So at this point there is a bit of blind faith in McNally, added to his track history and the backgrounds of the folks he has been bringing and continues to bring on board, maybe not entirely blind faith, some is earned faith. Some RSs turn to crap and some are big successes. It would be interesting to know (anyone going to AGM could ask!) if McNally had the reverse split in mind when he first came on board or if other obstacles to funding pushed him in that direction.
SPORT meets criteria for clinical, financial, and technological evaluations. People already want this product. The numbers work in our favor regardless of split or not.
CUIN2, sorry to see you leave. You were a valuable contributor; I respect your opinion even if I don't always share it (usually I did!). Be well!
