the estimated size of the market for robotic surgical systems. The Company's development milestones are set forth in the following table. The duration and impact of the COVID-19 outbreak is unknown at this time, as is the efficacy of the government and central bank interventions. Titan Medical Inc. is focused on robotic-assisted technologies for application in minimally invasive surgery (“MIS”). Pursuant to the placement agency agreement entered into in respect of the offering, in addition to the cash commission of $140,000, broker warrants were issued to the placement agent which entitle the holder to purchase 386,015 common shares at a price of US $0.45335 per share prior to expiry on November 6, 2025. The Company's financial instruments consist of cash and cash equivalents, amounts receivable, accounts payable and accrued liabilities and warrant liability. Each June 2020 Common Share Equivalent is convertible to one Common Share at a conversion price of $0.0001 and will expire when exercised in full. The following table sets forth the variances, if any, between the anticipated and actual use of proceeds from the Company's financings completed in the current financial year. In the U.S., the Q-Submission Program provides companies an opportunity to interact with and obtain feedback from the FDA on planned submissions including IDE applications, 510(k) applications and De Novo classification requests. Titan has retained certain rights to the licensed technologies to continue to develop and commercialize those technologies for its own business in single-port robotic assisted surgery. See "Forward-LookingStatements - Nasdaq". Further, the recruitment of surgeons from multiple hospital sites would be necessary to perform the surgeries. In Europe, the CE mark indicates that a product for sale within the European Economic Area has been assessed to conform to health, safety, and environmental protection requirements. The time required to complete activities necessary for regulatory approval or clearance is not quantifiable at this time. Address Suite 2400 120 Adelaide Street West Toronto, ON M5H 1T1 Canada The Company also issued 1,350,000 options to certain employees of the Company with an exercise price of US $0.962. During the second quarter of 2020, the Company had net and comprehensive loss of $1,143,199 compared to a loss of $14,472,866 for the same period in 2019. In June 2020, the Company established Titan Medical USA Inc. ("Titan USA" or "Subsidiary"), a Delaware corporation and a wholly owned subsidiary of the Company. The Interim Financial Statements for the three and six months ended June 30, 2020 have been prepared in accordance with accounting principles applicable to a going concern, which contemplates that the Company will be able to realize its assets and settle its liabilities as they come due during the normal course of operations for the foreseeable future. If I could rate this 0 stars I would. We have medical doctors and start with blood work testing to get you on the right track! The use of reusable instruments that can be cleaned and sterilized between surgeries for a specific number of uses is intended to minimize the cost per procedure without compromising surgical performance. All as further described and qualified in the Development Agreement. There is no assurance that the Company will receive certain payments from Medtronic pursuant to the Development Agreement with Medtronic. Accordingly, the Company is primarily dependent upon equity financing for any additional funding required for development and operating expenses and to satisfy outstanding obligations. During the quarter ended June 30, 2020, the Company secured capital in an amount that it believes is sufficient to resume product development, but not enough to complete its product development and regulatory submission plans. This discussion includes certain statements that may be deemed "forward-looking statements". Revenue from the License Agreement for intellectual property rights and. Furthermore, while the FDA encourages Q-Submissions, there is no assurance that feedback provided from these communications will result in regulatory approval, nor preclude any identified future changes in regulatory pathway. The Company has shareholders' equity of $2,083,970 including losses for the six months ended June 30, 2020 of $1,911,242. The Common Shares, June 2020 Common Share Equivalent and June 2020 Common Warrants were sold in fixed combinations at an offering price of $1.00, consisting of one Common Share and one-half June 2020 Common Warrant or one June 2020 Common Share Equivalent and one-half June 2020 Common Warrant. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for Nasdaq, with the exception of the bid price requirement, and will need to provide written notice of its intention to cure the deficiency during the second compliance period, by effecting a share consolidation, if necessary. insights gained from these preclinical studies have directed the Company to make further product refinements and improvements; the Company's intentions to complete summative human factors studies and complete the design and development of the system and initiate clinical studies; the surgical indications for, and the potential benefits of, the robotic surgical system; the Company's ability to obtain and sustain favorable reimbursement determinations from the health authorities in each jurisdiction where products have regulatory approval or clearance to be marketed; the Company's belief that the materials and parts necessary for the manufacture of a clinical- grade robotic surgical system will be available in the marketplace; the Company's filing and prosecution of patent applications to expand its intellectual property portfolio as technologies are developed or refined; the scope of protection obtained, if any, from the Company's current or future patent applications, as well as their expected competitive advantages; the Company's seeking of licensing opportunities to expand its intellectual property portfolio; obtaining or maintaining trademark registrations for the marks and names the Company uses in one or more countries and the future use of such marks and names; the Company's expected market segments and principal markets; the Company's expectation that negative cash flow is expected to continue; the Company's intention with respect to not paying any cash dividends on common shares in the foreseeable future; the Company's intention to retain future earnings, if any, to finance expansion and growth; the Company's industry and the markets in which it plans to operate or seeks to operate, including its general expectations and market position, market opportunities and market share; the Company further expanding of its patent portfolio by filing additional patent applications as it progresses in the development of robotic surgical technologies and potentially, by licensing suitable technologies; the Company receiving a series of payments totaling up to $31 million for Medtronic's license to such technologies, as technology milestones are completed and verified; the Company's ability to complete the technology milestones as outlined in the Medtronic Development Agreement (as defined herein); the Company's anticipated developments costs; the need to divert important financial and human resources toward resolving delays or problems; the Company's plans to pay the Key Supplier in full satisfaction of the outstanding payables by the end of the current calendar year; the projected competitive conditions with respect to the Company's products; and. The performance of surgeries in human clinical studies with the single-port robotic surgical system would require an IDE from the FDA, which must be submitted and approved in advance. Yahoo fait partie de Verizon Media. I ended up going having to go to another doctor since this NP didn't listen to my medical history. All medications are monitored & prescribed by a physician & come straight from the pharmacy. Pursuant to the March 2019 Agency Agreement, in addition to the cash commission paid to the agents, 591,911 broker warrants were issued to the agents. Titan Medical Inc. published this content on 28 September 2020 and is solely responsible for the information contained therein. Their staff is wonderful and super knowledgeable. The Company's agreements with Medtronic provide Medtronic with certain rights to its existing intellectual property as well as intellectual property rights to certain technology to be developed under the Development Agreement. Previous results achieved by surgeons with early operating prototypes in animal and cadaver studies have validated the potential for single incision surgeries to be performed with the Company's single-port surgical system. On April 28, 2020, the Company received a $1.5 million senior secured loan (the "Medtronic Loan") from an affiliate of Medtronic ("Medtronic Lender") and secured by way of the security agreement ("Security Agreement") executed and delivered by the Company in favor of the Medtronic Lender. In addition to resuming its product development program relating to its single-port robotic surgical system, the Company is now engaged in a second development program relating to technology to meet the milestones under the Medtronic Development Agreement. If the Company is not able to cure this deficiency within the time provided, it may be subject to delisting. of offerings in the first half of 2020, the Company resumed certain product development near the end of the period and, along with its subsidiary Titan Medical USA Inc., is developing a comprehensive plan to staff its new facility in Chapel Hill, North Carolina with an emphasis on recruiting technical personnel. The company stated they did not do that and later said they would work with me on getting some of the things my employers FSA required but never did. The table below sets forth the Company's warrants (by series) that were previously issued, and which remain outstanding as of the date of this MD&A. All financial figures are in United States Dollars except where otherwise noted. They cut my Test doses in half and were charging me the same price for half the product. The Nasdaq listing rules provide the Company a period of 180 calendar days in which to regain compliance with this requirement. Each payment is conditional upon the corresponding milestone being completed on a timely basis. I was paying inflated charges because I wanted to stay under doctor supervision. You can call or text us to learn how you can have a healthier, stronger life. Pursuant to the placement agent agreement entered into in respect of the offering, in addition to the cash commission of $1,260,000, broker warrants were issued to the placement agent which entitle the holder to purchase 1,260,000 Common Shares at an exercise price of $1.25 per share prior to expiry on June 10, 2024. to market its single-port robotic surgical system in the U.S., and submittal of a Technical File to a European Notified Body for achievement of the CE mark. Global equity markets have experienced significant volatility and weakness. We have medical doctors and start with blood work testing to get you on the right track! The warrants were valued at $475,300 based on the value determined by the Black-Scholes model and the balance of $714,700 was allocated to common shares. Titan Medical Inc. (“Titan” or “Titan Medical”) (TSX: TMD) (Nasdaq: TMDI), a medical device company focused on the design and development of single-po Although the Company has attempted to identify on a reasonable basis important factors and assumptions related to forward-lookingstatements, there can be no assurance that forward-lookingstatements will prove to be accurate, as events or circumstances or other factors could cause actual results to differ materially from those estimated or projected and expressed in, or implied by, these forward-lookingstatements.

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