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Sam - I believe you are correct on another round of financing to support continuing operations in 2018.
DCTH is just pulling the lever on the cash machine - to avoid bankruptcy, at the expense of shareholders.... Again and again.
There is no compelling reason for the market value to go up, until there is a management plan to produce CASH from operations.
MM
On March 11, 2013 the DCTH stock price was $196,224 per share.
That right, per historical split adjusted freaking share.
I don't expect you to believe me. Look it up for yourself...
Jenny and DCTH are thieves and need to be stopped.
Don't be a loser. Vote NO!
They have no incentive to generate earnings as long as they can steal from share holders.
I cast a vote against both proposals from Delcath.
(1,273,500 NO votes actually)
Although I believe the effort is futile here, just sending a message to Jenny and her $375k per year salary, that she can suck it!
MM
Why does AET trade at $178, when there is an offer of $207 on the table?
Risks of the Proposed Reverse Stock Split
We cannot assure you that the proposed reverse stock split will increase our stock price or that any increase will be maintained over any significant period of time. The Board of Directors expects that a reverse stock split of our Common Stock will increase the market price of our Common Stock. However, the effect of a reverse stock split upon the market price of our Common Stock cannot be predicted with any certainty, and the history of similar stock splits for companies in like circumstances does not indicate a likelihood that our stock price will be maintained at any higher level. Our own 2016 Reverse Stock Split enabled us to regain compliance with the NASDAQ $1.00 minimum bid price requirement for less than a year and to effectively raise additional capital for period of similarly short duration; however, on December 27, 2016, our stock closed below $1.00 for the first time since the July 2016 Reverse Stock Split and did not closed over $1.00 since that time. On November 6, 2017, the first day on which our common stock traded, post our 1:350 reverse stock split, our closing price per share was $6.69, and on November 16, 2017, our closing price per share was $0.86, and continued to decline from that point and closed at $0.0382 on February 9, 2018. It is possible that the per share price of our Common Stock after the reverse stock split will not rise in proportion to the reduction in the number of shares of our Common Stock outstanding resulting from the reverse stock split, and the market price per post-reverse stock split share may not exceed or remain at any specified level for a sustained period of time, and the reverse stock split may not result in a per share price that would attract brokers and investors who do not trade in lower priced stocks. Even if we effect a reverse stock split, the market price of our Common Stock may decrease due to factors unrelated to the stock split. In any case, the market price of our Common Stock may also be based on other factors which may be unrelated to the number of shares outstanding, including our future performance. If the reverse stock split is consummated and the trading price of the Common Stock declines, the percentage decline as an absolute number and as a percentage of our overall market capitalization may be greater than would occur in the absence of the reverse stock split.
Failure to effect a reverse stock split will have a material adverse effect on the Company and its capital structure, including its ability to issue any common stock.
We expect to need at least $20.0 million of cash to fund our operations and clinical trials for the remainder of 2018. Even with the net $4.65 million we just received from our follow on offering, it is unclear whether we will be able to continue as a going concern after May 31, 2018. We do not have access to other sources of debt financing and, without the implementation of a reverse stock split or increasing the number of authorized and unissued shares of our common stock, we are unable to raise a significant amount of equity financing.
Un fucking beleivable
Come on Rap, take an analytical approach.
DCTH gained less than $5M in a 250M share offering.
Perspective = DCTH doubled the share count to have enough money to survive for 3 months!!
3 months just kicks the can down the road until the next funding. It will not get us to focus trial completion or FDA approval.
65,018,176 available shares to sell before we reach the max cap of 500M.
At .02 pps = $1.3M left on the table.
MM
With the amazing skill of Roth partners, they were able to find a buyer to unload 250,000,000 shares of DCTH for more than 50% below current market value...
No way this support any positive theory, buy out etc..
What a total crock of BS. I smell a rat.
MM
Filed at a net of $.018 pps.
Disaster!
MM
I am a third of the way behind you with 1,273,500 @ .0589 pps ave.
Best of luck on your investment.
MM
What does that mean?
Agreed.
Still has 250M shares and Proposed Maximum Aggregate Offering Price of $10M.
Although the shares are not priced, it still appears as $.04 pps.
MM
New S-1/A released
My opinion PPS is range bound at .025 to .040 until significant positive or negative news. I believe we might be at .03 to .04 PPS for several months.
Next big news should come from 10K near the end of March. The other potential news mentioned here is speculations with zero substantiation.
I am at .0589 average, and refuse to add more.
MM
Monday should be good for you Ofri.
You should double or triple your short position.
Rapture I can concur that the 250M share offering to institutional investors is better than dumping on the market, and better than bankruptcy. I am not sure that those are the best comparisons. ~Why not compare the current S1 to a financing package that does not dilute investors?
My only point it that continued dilution is NOT a good deal for investors. DCTH leadership continues to show no regard for the interest of shareholders or the price per share.
Rap - I have respect for you. You may have the most positive outlook I have seen on any board. In the face of adversity a positive attitude can push you through. But it can go too far. Positive BS to the point of rainbows and unicorns flying out your a$$ will not help your account value.
MM
Dilution of shareholders is not the only way to gain cash for operations.
Long term financing should not have to come at the expense of shareholder equity dilution.
The challenge for DCTH is they have virtually no collateral to achieve financing, other than patents.
Therefore, the unpalatable assertion that the company has no value is really not far off. (based on its current state)
IE DCTH business case and value is based off unrealized potential.
I will continue to hold shares to see how this plays out. Everyone needs to understand that the long term price per share potential continues to erode with dilution of shareholders.
Consider this: Start your thesis on potential PPS with market cap divided by total shares.
The potential PPS has dropped 90% since December 2017!!
If Dec 2017 was around 100M shares, Dec 2018 could be up to 1B shares.
MM
All dilution is bad for existing shareholders and reduces the potential price per share.
It amazes me that some people here don't understand that basic concept.
The total value (and potential) of the company divided by the number of shares equals price per share.
Simple: more shares = less price per share.
I could kick myself in the balls (if I could) for investing in DCTH.
MM
250M shares being offered at a maximum of .04, in hopes to generate $10M investment.
Going nowhere fast.
MM
Share count
8K = 222,981,825
S1/A = 250,000,000
Total = 472,981,824... Does that look right to you Sam?
Max authorized shares = 500,000,000, excluding warrants?
MM
As of January 25, 2018, we had 222,981,824 shares of our common stock issued and outstanding.
Volume today at midpoint 3,112,741. -Tracking to appx. 7M shares today
At 7M x.03 = $210k traded.
Seriously, Green or Red at this volume is insignificant.
Volume needs to be 20% of float to have liquidity for buyers and sellers.
No one is is currently interested in buying or selling.
There are members of this message board that hold more shares than today's total volume. (ok -maybe 2-3 members combined)
Time to resume my previously scheduled nap.
MM
OFRI - Is the basis for your analysis a gut feeling, aka - from a bowel movement. (as usual)
My take on the volume is by a comparison only.
Compare to Dec. 28th. When pps moved up on perception of news with few sellers at 20M volume.
Compare to Jan. 2nd. When pps moved down hard on execution of market makers at 40M shares.
In both cases the daily $ values are relatively small.
In addition to performance, (phase 3 or other) DCTH needs exposure to really move.
Image is already a disaster.
I am happy with a Green Day.
However, 17M volume at .03 pps is peanuts on $ value.
MM
Yes Sell..
As in sell your short position. It is called a cover!!
LMAO!
MM
I will be watching the volume closely today.
Poincianamike, I give you kudos for predicting events before they are announced.
However, I am struggling to understand why you think price will move up on the latest news. Especially the idea that "price will move pretty fast from here, above .10 easy and .25 by end of month."
Are you expecting additional news?
MM
Management should not be getting raises when the company is on the cusp of financial ruin.
CFO doesn't necessarily have to be an accountant. -Even Ben Bernanke only had a psychology degree.
Not good...
Not good at all..
MM
Poincianamike,
I am skeptical, yet hopeful. (My trading account would love it)
I would expect to see a buyout offer for the total value of the company including debt, as opposed to a price per share offer.
It is hard for me to imagine an offer of .25 - .50 per share for buyout. Especially when we can only calculate a guess to arrive at the total float.
If you are correct, I will raise a cold glass in your honor for being in the know!
Also, keep yourself compliant to no insider information trading.
All the best!
MM
2018 Stats
* 9 trading days
* PPS High .098 (2 Jan 2018)
* PPS Low .036 (12 Jan 2018)
* Closed up (green) 3 times
* Closed down (red) 6 times
* 2018 Return (.092 - .0395)= -57%
* 2018 Volume 171,508,744
Draw your own conclusion.
History is not a predictor of the future.
My opinion: this is an issue of supply and demand. Not reflective of market price or potential. Price per share will retreat until supply and demand reach equilibrium. Market Capitalization is unknown until OS is updated.
MM
Unless it is debtor in possession financing.
Based on the addresses listed on the Delcath home page, I doubt very seriously she visits the lab much.
Corporate headquarters is along way from the R&D center. (AND I don't mean distance)
HQ
1633 Broadway
22nd Floor, Suite C
New York, NY 10019
R&D
566 Queensbury Avenue
Queensbury, NY 12804
Sam,
I concur. This is only good news from a Delcath corrective action perspective. I am happy to see the company recognized the problem and took an appropriate action.
I believe the enrollment was behind. This change should make the process available to a larger potential population of patients and get enrollment back on schedule.
MM
Nothing to be gained by being short at this price per share.
If you shorted at $1 or more (when the stock was listed on NASDAQ), the net gain of .045 to .01 is 3% max.
Also, it is challenging to find an account where shorting an OTCBB stock is allowed.
Therefore, I don't believe you have a short position in DCTH.
MM
Big spike at the end of the week.
Could be 30%. From .03 to .04......
Sorry that was sarcasm.
The pps is going no where until 10K, FDA, or other announcement AND 123M shares are diluted by note holders.
Also, I presume it was the note holders that pressured DCTH into the completion of the agreement. Not the other way around.
Long and Jaded.
MM
I like your theory.
Not sure how much merit it has, but I like it.
I will take .1075 for my shares to and be happy.
I will Still by all of my good friend Dr. Cleo's shares for .03...
MM