I was just going to post the same question. Are these purchase orders for the units that are going to the hospitals for clinical trials?? Either way, that is a big expenditure.
That $12M is for Q4 goals, which means they are ahead of schedule. They also have $17M in warrants w/ exp of June 2016. PPS rises over next several months, those warrants are excercised, Titan now has $23M + $17M = $40M and they only need $33M to get to Commercialization.
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