Hello to all. Happy Thanksgiving. El Guapo, I agree 100% with what you are posing. I think they're done with the "add-this, add-that" because it almost cost them the ability to build the prototype devices, and it did cost the former CEO his job. But I have 3 theories as to why Mc has done what we've seen so far.
A) He raised the most current offering because the "street" did want to participate any way that they could, and it was to Titan's benefit. There is/was some anxiety expressed with the issuance of a full warrant, etc., etc., and the "why did they do that?" if the most recent private placement didn't include that form of additional dilution.
B) My only conclusion for the additional unnecessary warrants was to initiate a quid-pro-quo, with the street, based on the possible R/S and the support required. Even if someone would make the argument that surgeons would be happy to finance the balance of the financing. Wall Street wants their piece of the pie and wants to be in the drivers seat. I don't think it's making a deal with the devil, if it's overwhelming PPS support. Both the surgeons and private equity firms can participate.
C) And most importantly - Money, and support permit the option to advance the timeline. The most recent comments regarding a "tweak" from the Columbia site, doesn't necessarily mean that it needs to be included in the 1.0 version. 90% out of 100% is still an A grade. I also base this theory on the comments someone made that Titan feels that they can sell 12 units without a salesforce. I'd go further with that statement that once this model is FDA approved, they could take advanced PO's for at least 50 units. The question is how long would it take for them to build and deliver them? 1.0 doesn't have to have the full functionality for a long list if indications, just the most important 4 - 6. If Titan only thinks that they will sell 12 units, how much functionality is necessary? I thought that the device was being approved on the basis of basic surgical functions (cut, cautery, suture, etc.) .
My final question is - what is the end goal here? Create and run an industry changing, highly-advanced surgical device company, or make a ##@&%! load of money? The ideal answer would be both. Perhaps a partner would buyout Titan and make the entire operation a division to facilitate version 1.2, 1.3 and 2.0. The existing software and hardware engineers would have a huge learning curve advantage. The patents and the time to R&D, test and build, and learn are reason to buy Titan. Experience is expensive and painful. The patents and learning curve necessary to create a fully functional device is more than daunting.
Finally, who cares about whipples, I want to see some video games on the monitor, using both controllers. Just to calibrate the movement, and give the eyeballs a break.
Just food for thought. I guess we'll see if I'm full of beans? Pun intended.
Regards,
BK
