Titan Medical Inc (TMDIF)

[OR Nurse]

Thank you Beast. I did not realize the $1.5 million dollar loan was due with the last payment. I guess it reinforces my thoughts.

There may be three things that may happen in my mind:

Titan achieves its fourth milestone and goes it alone.

Titan achieves its fourth milestone and is either bought out or another agreement is made with Medtronic.

Titan reaches its 3rd milestone and is bought out before it reaches the fourth milestone.

What I mean is it would be upsetting to some if you had sold stock to take profits and then an unexpected buyout occurs while you have no skin in the game.


Until the $1.5 million loan is paid off, Medtronic is allowed to have an observer on Titan's board. So once the fourth milestone is reached, then the loan by rule has to be paid off and once done, the observer leaves and disappears into the sunset never to be a part of Titan's meetings ever again. Doesn't make much sense, does it?