I do not support a reverse split.
If there is a reasonable argument for remaining on the NASDAQ, it is to the ability to raise more funds from some investment organizations. Had we not been on the NASDAQ, we most likely would not have gotten the $18M and therefore would also not have any sort of deal at all going with Medtronic.
But do we, as a group of shareholders, really believe we have the share count to prevent it? And is this vote even binding?
The likelihood of us having enough votes to reject the reverse split is pretty slim. I figure their ability to do a reverse split is pretty much assured regardless of what a handful of private investors whining on a message board can do. And when the vote is over, they will basically have "permission" from shareholders to do a reverse split; the actual reverse split is not a sure thing even if the vote passes it. But I'm sure this board will still light up with intense negativity when the voting results are announced. And if they do the reverse split later, that's just another opportunity for whiners to do what they do.
How many people here have written to management? Of those emails, how many offered positive suggestions on how the company could raise the share price without a reverse split? Or how many were even civil, offering rational reasons for "why I don't want a reverse split" or "Why I don't think Mr. Vance is a good choice" or anything else that is potentially helpful?
I wrote. I received a courteous reply indicating why they believe they need to have the ability to do a reverse split (only if it becomes necessary) and why they fully support Mr. Vance's nomination.
I would still prefer to see/hear a plan as to how they can maintain NASDAQ compliance without a reverse split. And I will be writing again soon to ask, and even offer some suggestions in that regard. I would suggest those of you who can write a civilized business communication also do so. If you choose to do so, don't just make up fictional numbers because they know the real numbers (for example, Mr. Sankholkar's 8 year tenure with Titan Medical actually went by in a mere 4 years and 8 months - they will know if you are lying to them).
To those of you who might actually be inclined to try to help, thank you in advance.
