Titan Medical Inc (TMDIF)

[chambers]

I too am hoping for some PR in the near future however I know exactly what happened today and why the price dropped suddenly in the middle of the day.

I got a call from a friend (an extremely sophisticated investor) who told me he just went long on 100,000 shares of Titan and asked my opinion (sort of late to ask after you get informed the shares were purchased already).

In our discussion I learned that Titan re-opened the books for the financing as there were some investors who were too late to get in last week as the books on the deal closed early (which Frankly is bullsh_t since the company was halted for a day). They allowed another approximately $2 to $2.5 million in the deal and now since the deal was trading above its issue price the sales people and Dundee and their selling group (at least those in the know at those firms) obviously called some of the their clients who may include the hedge guys to step in.

Guess what happened next. All these new people started to sell their shares down to $1.40 which spooked other people into selling as well. They were type of investors I referred to earlier who just want to flip their shares and keep the warrants.

The people at Titan are not the most market savvy people (furthest from that actually) and they let this happen because they just wanted the money.

The good news is that when the press release comes out this will be cleared up and the price will move higher. You saw the way Titan was trading this morning and had they not re-opened the offering I strongly feel we would have been in the $1.50 plus range – though I in my opinion we are still going there. They now have something closer to $13 million that $10.5 million as of Friday so the runway is even longer now.

The market just needs the news as no one understood why the shares were dropping today after a strong opening and now you have it.

Again, if you have not stepped in already, time to do so as this will not last at these levels.

From this point forward, its all about execution.