Titan Medical Inc (TMDIF)

[TitanSTL]

The way I read the final prospectus, was that the cash on hand was enough to achieve 2018 milestones and that the minimum raise proceeds would all be allotted towards the achievement of Milestone 4. Without warrant conversions, I believe the cash is sufficient to achieve Milestones 2,3 and 4 per the prospectus. Milestone 5 is a relatively new addition and I would imagine it would result in the announcement of whoever that partner is. A big partnership announcement by then would almost certainly result in exercised warrants and provide a financial runway to FDA without further dilution. Warrant clauses included in prospectus seem to speak to this? No partner=more dilution IMO.

IMWT