From Stephen Randall
"In response to your email below I can respond to some of your questions.
The $18 million investor was not Medtronic. As indicated in our press release of June 8, 2020 it was a single investor who committed to the $18.0 million common shares or common share equivalents. It is up to the investor to disclose his shareholdings.
The AGM has been deferred until September 30 as a result of the Covid-19 Pandemic and our inability to hold an “in-person” AGM. We were able to defer the date beyond June 30 in anticipation of the conditions improving but since that did not happen and shows no sign of letting up, we chose to hold a virtual AGM on September 30, 2020."
I hope this helps.
I was reluctant to post the exact email Randall sent to me but eluded to it last week. Some followers on this post have already commented on it. I will keep the email and to show it those who do not feel it is real when we are celebrating in Vegas. Everyone is well aware that I am a long. 10 plus years.
Typical short response to a long email. I explained I was a long term investor with a large position that has attempted to average down. This was his response.
It is interesting that the AGM was delayed until September and he says it is due to COVID. McNally was willing to present at a virtual conference recently but felt a virtual AGM in June was not on the table. June was also the time Medtronic was announced as the company providing the loan. My thought is that Titan was knee deep in discussions regarding milestones and were not in a position to have an AGM in June.
As mentioned earlier, why would Randall let the cat out of the bag and tell me Medtronic did not buy the $18 million shares. Others have said it could have been a third party representing Medtronic. Or was Randall trying to downplay the situation so pps does not skyrocket. Hard to know.
Just very surprised that he would even respond. And to say it is up to the investor to disclose who bought the $18 million is also strange. Especially when the company has a fiduciary responsibility to disclose information that helps its shareholders.
AI
