Conference on now.
McNally:
Speaking with FDA. De Nuovo process. Did not give a timeline. Medtronic only using 1/3rd of our IP portfolio. Titan can use ALL of its IP for the ENOS system. May 3rd timeline. September last timeline.
Genova:
Discussed Living labs. Preparing for manufacturing. Improving parts of ENOS. Developing a learning suite for the robot.
Delorme:
Boring. Discussed money raised. Interesting that the $1.5 million loan was from a subsidiary of Medtronic and not Medtronic. Guess accounting got complicated as dealing with two currencies, two countries and warrants. Preparing for human clinical studies but AGAIN no timeline from her.
McNally: Participating in more investor conferences this year.
Q and A:
How final is the design, when will they start clinical trial?
Making refinement to software and to the patient cart. Will complete this year. FDA. Still in talks. IDE studies and human studies in 2022.Commercial launch in 2023.
Medtronic is building their own robot which is not ENOS. Medtronic can use Titan's IP for their own robot and do not have to pay royalties.
Will Titan launch ENOS themselves?
McNally says yes, going alone but can partner with global companies for marketing and distribution.
Will Titan be sold to Medtronic?
Premature at this point but Titan can pursue all options including selling the company with the current Medtronic agreement.
Do we have enough funds?
Delorme response. Have enough funds to last until 2022.
Closing with McNally
Blah blah blah.
To me it seems like Titan is trying to continue to develop and progress alone. They will run out of money by 2022. They have the ability to be bought out with the agreement with Medtronic.
If we had voted in favor of a reverse split, we would have gone to $10 and after this update we would be around $5 by now. I am certainly glad we had the strength to vote no on the reverse split.
I think there is a ton of pressure on McNally to sell the company. I think this is the only avenue and shareholders will demand and vote accordingly in the upcoming AGM.
