I respect and agree with your sentiments as regards someone who is complaining of not getting the sort of return on investment he or she expected or wanted. Except that this isn't a question of not being happy with the return on investment. And, it's not a question off the company behaving how I want it to behave. Rather, it is the company not behaving exactly how it represented it would. That representation induced reliance and action by investors. And, I'd like to state very clearly that as a shareholder, I have every right to stick it out and demand that the company whose shares I *own* do as it told me it would.
I believe that doing right by investors is called fiduciary duty, right? There's a whole area of law on shareholders' rights, isn't there?
I feel very strongly as though Titan duped me by promising a certain course of events, only to change course once they had my money. Specifically, they laid out a concrete timeline and said to potential investors, "please help bankroll this process." Then, they changed that timeline *signficantly*. How is this different from a breach of contract? In my mind, if their timeline does not materialize this time, I will say this is moving perilously close to fraud. Again, I hope they do make good on the potential which many have been willing to back. But, this is a two-way street. When you compel others to act through specific representations, you are beholden to act as you said you would.
Let's be very clear. The *investment* is speculative. That is, whether I will earn anything on the money I invest on an unproven untested product is speculative. But, whether the company that told me it would do a certain thing with my money will do as it represented is not speculative. That's not how it goes. There are other words for that. I will hold off on definitively applying those labels until we see how this plays out. But, again, Titan's choices this far have, quite to my dismay, brought those words to mind.
Look, I am heavily invested in this company and want them to succeed. But, if titan is not going to do right by me by even moving in the direction it said it would when it induced me to fork over my money, then yes, I will threaten litigation and also other legal action. Titan's management needs to understand that investors are not here just to give money, and certainly not on misrepresentations. I am watching carefully to see what they do next. If they correct course and stick with the timeline this time, ok. If not, it is very likely they will see formal complaints - if not from me then from other investors who don't appreciate being taken for a ride. This is simply to say this company needs to start doing what it told people it would do before they bought in. Titan's other option would have been to simply not go publc up front. If you're not publicly-held, you don't owe investors any duty. But, once you take money from people, especially if you say you're going to do certain things, You are required to do right by your investors. Titan has fallen way short in that area so far. I hope they turn it around.
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