A couple quick outlines of possible concerns to include in a petition. Paraphrasing is for these outlines only. Please feel free to contribute to the refinement of each:
Low PPS/Marketing not doing their job to boost image and PPS so fundraising is feeble. Details set forth in example in post #45275.
Current management team not trusted by investor base. AGM 2015, stated "Funded to completion of FDA submission." AGM 2016, “Never been so confident in the future of Titan.” Two months later, Dr. Fowler leaves. Several months later, still no replacement for COB and no indication that there is an honest effort to find one. Request BOD initiate a viable search (if not already under way) for a candidate with a track record of successful medical device launch and experience raising capital (maybe even one with existing contacts in investment world). Request periodic (maybe bi-weekly) status updates, possibly posted on Titan web site. COB should also be prepared to lead subsequent searches for replacements for Dr. Hargrove and possibly also Dr. Rayman. If Mr. Randall’s M&A experience is not projected to come into play in Titan’s near-term future, he could also be considered expendable and replaceable, given the financial woes the company continues to face under his tenure as CFO.
Sparse communications throughout all phases of development to date. TRXC communicated good news and bad, and drove their PPS up over $14 per share until the FDA rejection caused a valid crash in price. Despite their gross failure to achieve market success for the product they were touting, they proved that communications were valuable, necessary tools to keep a program funded through completion (regardless of ultimate success). Request bi-weekly investor updates to be posted to the web site with overview for prioritizing and managing expenses. Request follow-ups on presentations and press releases; for example, have heard no feedback on the ERUS presentation in Milan by Dr. Sanchez-Salas.
Do we other specific gripes we can present with ideas for rectification thereof? Please opine!
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