Titan Medical Inc (TMDIF)

[66Mustang]

Actually, burn rate will likely fluctuate up and down during these training and validation periods. These sites (especially Nicholson) are helping develop the training programs, which will include training fixtures (mostly mechanical), simulators (more software than hardware) and documentation for training methods, presentations, manuals, etc. Definitely still qualifies as development but hopefully a bit less intense and less expensive than the SPORT device and operational software. Cost estimates for these are also listed in the short form prospectus from the end of June. I think they were still looking at $5M-$6M per quarter for this quarter and next, so current funding should get us just about to the end of the year.