Titan Medical Inc (TMDIF)

[elMoose]

It is a Chinese company that supplied 2 million dollar once upon a time was a big shareholder.

They paid 2 million. Titan could not pay them back and gave them shares instead.

"Back in October 2015, Toronto-based Titan inked a private placement deal with Longtai, a subsidiary of Chinese medical device distributor Ningbo Long Hengtai International Trade Co., that could have ended up being worth more than $24 million.

Longtai put up a $2 million deposit toward the distribution deal, but now that talks have ended that money must be returned, Titan said.

“We are focused on our largest target markets in the United States and Europe. It is worth noting that lengthy discussions with Longtai began in October 2015 and included a good faith $2 million deposit and 2 term extensions, but with initial priority the United States and Europe, other partnering opportunities and our commitment to focus the contemplated distribution agreement is not in the best interests of Titan. We part ways with Longtai amicably and look forward to reporting on additional milestone progress in the near-term,” CEO David McNally said in prepared remarks."
https://www.massdevice.com/titan-medical-spikes-talks-chinese-distributor/



https://www.globenewswire.com/news-release/2017/04/28/1179947/0/en/Titan-Medical-Ends-Negotiations-With-Longtai-Medical-for-Sport-Distribution-in-Asia-Pacific.html
https://www.globenewswire.com/news-release/2017/08/01/1179979/0/en/Longtai-Medical-Agrees-to-Convert-Titan-Medical-s-Distributorship-Deposit-to-Equity.html

Apparently it is owned by a Chinese company that makes
"pump, submersible pumps, borehole pumps, solar pumps, centrifugal pumps, stainless steel pumps, multi-stage pumps, submersible motor"
https://nbhengtai.en.ec21.com/