Because mgmt thought as they hit milestones that the stock price would have gone up, but their latest screw up and the fact that they missed on the funds calculation needed to execute approval has killed them. If titan currently had everything figured out, the raise would have been at a much higher valuation and Titan would have gotten the money. Now they are in a lot of trouble, not to say they can’t get out of it, but we don’t even know if they can make a robot yet.
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