Titan Medical Inc (TMDIF)

[66Mustang]

If we took on the full amount at these share prices, we would be diluted dramatically. There may be more of a deal in the waiting but Titan probably shouldn't take in more funding than short-term needs dictate in order to keep dilution to a minimum.

In May of 2016, Titan announced a 3 month extension for negotiations with Longtai. The $2M sat in escrow. In August 2016, another extension was announced. The money appears to have sat there. In April this year they announced the end of negotiations for the entire deal. They didn't reach an agreement when Titan development was on hold last fall due to funding. As desperate as we were at that time,Titan probably would have jumped on it then to get the funding, therefore I would have to think it was Longtai who wouldn't agree to it at that time. It is most likely Longtai who came back to the table to renew the offer. And if the $2M deposit had never been returned, then this has always remained on the back burner despite the PR this past April.

The other consideration is that Titan may be revisiting the earlier strategy of getting into Asia sooner, rather than later. The quicker they can open up sales and revenue streams, the quicker we can start planning the Vegas trip!