I called the Edmonton office today because I am concerned that even with all the good news, the stock is being beaten down. I was referred to their investor relations guy in NY, David Terk. Here’s a summary:
1. The company’s go to market plans are right on course. Software is ready for production trading, and it’s being evaluated by 3 different firms currently. Revenue expectations are anywhere from $8K-$15K a month depending on size of customer and how many users convert off trials.
2. Options were granted to 4 managers excluding President, who have been working round the clock to get the product to market. They have all been largely underpaid and it was necessary for morale.
3. Company did indeed sign a second distribution agreement this week with another major broker. There will be a press release in April.
4. Dilution factor is overblown. 10 -12 customers will put them in the black as expenses have been tremendously trimmed and there is almost zero debt on the books. Once analysts start picking it up and institutions buy in it will move very quickly and current amount of shares is not a concern.
5. The company has created a new behavioural research product which has retail potential. It’s a “game changer” he said. Combines existing Titan system with info from Google searches, Twitter, etc. They are in discussions with a big financial portal to finance it and distribute it.
6. The sales pipeline has over 40 leads in it. Between John Coulter and new board member, they know all the major players.
7. Coulter speaking at TSX event in Toronto next week to large group of retail brokers.
8. Coulter sending out President’s letter to investors at the end of the quarter. If you want to be included, send request to info@titantrading.com
Happy St. Paddy's to my boys in Vancouver!