Titan Medical Inc (TMDIF)

[66Mustang]

A large shareholder coming into play is inherently dilutive; those shares need to come from somewhere. A partner is most likely dilutive as well; they used the term Partnership for Longtai, and their $2M cost us another 18M shares of dilution. Very tough to be a development stage company looking for non-dilutive source of income because everything, even a distribution agreement, is purely speculative. Maybe McNally was able to convince Longtai to convert because Longtai was able to do without that money for over a year by then anyway, and it's possible that Longtai's sole existence is to distribute SPORT in Asia anyway.