Titan Medical Inc (TMDIF)

[66Mustang]

I looked for the definition on "beneficial ownership" on line.

investor.gov (a.k.a. the U.S. Securities and Exchange Commission) defines it as follows:


"As a shareholder of a public company you may hold shares directly or indirectly:

A registered owner or record holder holds shares directly with the company.
A beneficial owner holds shares indirectly, through a bank or broker-dealer. Beneficial owners holding their shares at a broker-dealer or bank are sometimes said to be holding shares in “street name.” The majority of U.S investors own their securities this way."


Again, this definition refers directly to SHARES, not warrants. Part of the purpose of the form 13G is to document this relationship, showing Mr. Nathoo and Mr. Kassam have control and voting power of these shares which are held by the Anson fund.

If your CPA said they can exercise up to 1.8M shares, well... I don't know what that means. People can exercise warrants to buy shares. How does one exercise a share, other than maybe sell it? Form 13G and the SEC make no claim to substantiate your CPA's interpretation.


Message in reply to:
Per my accountant who is also a CFO, they did not exercise warrants, they have beneficial ownership which means that Anson can exercise up to 1.8mm shares. That keeps Anson below the 5%. My accountant is guessing that a stock/warrant holder separated the warrants from the shares and sold the warrants to Anson. That is the explanation I got from a CFO/CPA.