Titan Medical Inc (TMDIF)

[RobLowe3MD_TN]

Another patent

How many of the 200 patents were for the old SPORT system and for inoperable technology? How many have been siphoned off by MDT?

With 200 patents, the enterprise value of Titan at $130MM equates to about $600-$700K of value per patent.

The total cost per patent is close to double that .... divide 200 patents into $240MM (that is the value of the negative retained earnings on the balance sheet and is the sum total of losses excluding the investment that has been capitalized) ... they are burning about $1.2MM/patent to develop and the market is valuing the company at half that per patent.

The company needs to demonstrate commercial viability, not more patents. It needs physicians validating the technology, affirming its applicability in the clinical setting and it bringing something different to the OR besides a great camera light ... and none have done that yet.