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My general feel when reading the original S-1 was that it was basically saying that the journey to getting FDA approval was a long, hard and expensive one and that even with FDA approval, success wasn't garaunteed. Therefore a partnership with a bigger player was considered beneficial. Again just my take on it. I wouldnt be at all surprised if an interested party has snapped up a good portion of the shares issued so far. Until confirmed though - its just conjecture. For my own selfish reasons i hope they do partner up - i definitely wont stick around if they intend to continue down the path alone.
Slight change of tack - many of us (including me) have been critical of Dr Jen for various reasons. I still dont believe her IR skills have been stellar OR appropriate during this period, however i also dont think shes been 'living large' on others peoples $$$ or that the last period has been easy. I suspect shes aged at least 10 years from all the stress. While 'surveying' options for contacting the company since there just seemed to be no news at all (yes Rap, I was also emailing for a share update and getting nothing back) it dawned on me that if the company went belly up, 41 people would have lost their livelihoods. Being ultimately responsible for that would not be an easy thing to cope with. As an investor, this whole thing has been unpleasant - im just hoping to reap a gain and move on. I wish the company well and hope they can ultimately help those suffering from Cancer. I hope the longs who have endured get something back and for those that made profits on the various spikes (i count 4 occassions since the R/S that people could have made 100% plus gains) - respect - you played the game well! GLTYA~
Correct - financial institutions/hedge funds etc have restrictions and rightly so as essentially they are investing other peoples money and need to mitigate risk. A corporate however can make a bid for whoever they want as long as its signed off by the board. The company i work for just recently bought 2 companies which they deemed as complementary to the business strategy. The company had freed up some cash from the sale of assests and said, "find some aquisition targets that we can invest in". Business cases were drawn up, approved by the board and the purchases made. Happens all the time.
Surely, if there was any significant investor with sufficient capital who was interested in taking a stake in this company then now would be the time. $10 mill (circa) buys you the right to own a little over half the company and all its promising future - patents and all (no more messy financiers to negotiate with). The outcome of the sale of the warrants will for me be a litmus test of what the market thinks.
Ha! Classic!!
Interesting that Dr Jen did her undergrad in Buffalo - not trying to say anything - just find it interesting.
Haha! 21 all the way!!! Please dont rent my crystal ball - its broken!! The insiders seems to work a little more regularly though!
For all the speculators, you may recall that the resident insider stressed patience as the BIG news would only drop after the debt was paid off (which was taking longer than anticipated). This is big news BUT you seldom get REALLY big news on a Friday - more like on a.....MONDAY! Ok, no more from me...for the record, i do appreciate the likes of Sam whose level headed, conservative, facts based approach keeps it real (and Rap too as well as others) - but nothing wrong with the odd flutter at the blackjack table is there??
Yes! Great call indeed! Might sound bizarre but even with 250 million more shares to come, if we at least dont need to hear the name MAXM ever again it will make it so much more bearable!!
Oh gosh - now we wait to see what happens with the 250 million more shares!~ But just for now at least, lets enjoy this moment of reprieve..
Oh praise the good Lord, its finally over!!~~ ...at least for now. Kudos to all that endured. Jan seemed tougher than December although Jan seems to have just flown by in the blink of an eye somehow..
C'mon man, you're stealing my thunder man! Well not really!~ Just no one entertained my last post on the matter.
Tough day in the office?? How about tough....forever when dealing with this one!! Ha! Good on those who are encouraging others though! Thats the 'never leave a man behind' attitude - US Armed forces at their best! But on another note just to keep the fire stoked..anyone else curious about what the Buffalo Co. is fundraising for? 4.3 mill shares at between $16-$17. C'mon, i sure im not thr only one wondering??? (Or am i the only one wondering??))
Maybe Pmike is getting his companies mixed up? Its the Buffalo Co. thats released news, not this one~
...watching and waiting...
Nah, i didn't either ~~
Anyone spot the spelling mistake on page 218?
At least we know why IR hasn't been responding - were all snowed under trying to produce that 257 page prospectus...
Grand Master says - "Patience!!!"
I think the news has the potential to be good IF all new shares are going to one single investor (which is what the speculation angle is). This is either going to turn out to be true or a complete fantasy. IF all new shares are hitting the general market then the news is not good - that i can agree with. Would that suggest my comprehension is > zero?
Hmm...I'd challenge that - Pmike made the call on the price being $0.05 (even lower) way back in Nov wen the price was still > $1 PS. Then he made the call on the Co. going bankrupt which didnt happen but for all we know was on the cards (seems like the Co. hired a bankruptcy lawyer but managed to manouver out of that situation). Then he made the call on yesterdays news. I'd say he's got some cred.
So if the great Sage has proven himself trustworthy here, then there is one more piece of this puzzle to come according to his prophecy right?
Kind of painful reading - especially the risks section - gee whizz- cant say i felt +ve after that. But then got to this section - "This offering is being made in the United States only to investors which qualify as “institutional investors." Could be very positive..
Well, normally im not really a fan of playing, "ill show you mine if you show me yours" (usually because when its my turn, every starts laughing and i feel embarassed) BUT in this case, lets play - 132.5k @ 0.062. Majority bought on Dec 5 but oh how i wish some calamity had befallen my trading account for 2 days as just 2 days later, we hit what became the real floor (at least up to that point) of 0.031. Of course, since then there have been opportunities to sell and re-buy (most notably the 29th) which could have resulted in a much increased position or free shares but man, i thought we had arrived in the promised land each time. Oh well, will use my time in the desert to improve my character~
Hang on a second...wait, wait, wait..somethings just dropped - CONSPIRACY ALERT! What if it is the Buffalo based Co. that was responsible for shorting the stock from the very start, a move which forced the appointment of the new member to the B.O.D?? And maybe what we are really seeing is a hostile takeover scenario, one which management is powerless to stop? Maybe they were cajoled into silence as a result of certain conditions?? Hmm..ok theres a few gaps in this but might also explain alot! Right no more conjecture out of me..back to watching and waiting..
Yes, appalling indeed! As Sam has said, "if you want morality, go somewhere else!". Hopefully, we'll see one or two of those aces sometime soon~
And sorry to harp on about the recent R/S, however the more i think about it, the more i believe that management did not see the current situation coming i.e. SP plunge resulting in this level of dilution. If the sentiments echoed in the letter to shareholders had any sincerity to them, then management truly believed that the price would hold and as a result, only a few million shares (rather than a couple hundred million) would have been needed to pay off noteholders. They would have also been able to relist on the Nasdaq and been able to encourage institutional investors etc,etc, etc. What transpired however was essentially a disaster which they didnt see coming and has forced them to consider other options. Just a thought - a bit easier to accept than the alternative of having been sold a porky when all along the intention was to dilute right back up to square one again.
Hey All, not looking to take sides here however looking back, PMike never suggested news of a 'Buyout' was coming this week - he just said, "great news for longs could be expected this week". He didn't specify what that news might be - he just said to wait and see. There was subsequent B/O chat after that however that kind of evolved after several guesses as to what the news might be. Hopefully we do get some good news this week of the calibre that can turn this ship around!
Interesting - time for me to google that term and increase my corporate financing IQ!
IF that turns out to be the case, it would certainly make for an interesting case study (one which i'll undertake post transaction IF it happens).If acquiring the company at the lowest possible cost was the objective, then I would have thought making a move just after the R/S when the float was still low and price dropped to <$1 wouldve been the best time. Sure they would have had to pay the debt, but overall the cost may have been less. Now there is a risk of paying more based on all these share being out in the market and the chance of a rally - unless its the Buffalo basee Co. thats been gobbling up the lions portion of all these new shares.Lots and lots of ifs and buts and maybes to keep the intrigue going!
I do have a proposal however, id like to propose that Rapture, Sam and maybe even that andrius guy be offered contract roles within the Delcath IR Dept (even if only for a short term) so that they can go in, get the full story and then put out some form of communication. Then regardless of the outcome, the rest of us will be like, "ahh, ok got it". Sounds fair right? Given that most if the the updates of value come from these 3 (no offence to anyone else - just saying that on an weighted average basis, most of the stuff of value has come from these 3) they might as well get remunerated and we'd get decent info!!
No option 3 of genius + morality/fudiciary responsibility? Options kind of seem a bit limited right?
Well, thats just fantastic - shes neither in the lab or rallying investors from corporate HQ... (although i thought they gave up their downtown suite in order to save $$$??...maybe not..might be another company)
I dont think anyone saw the 123 mill shares plus $800k deal coming! There we all were, deligently counting down the days in December, aviding trying to figure out how how many shares were left in the conversion. Then there was the sell off for tax write offs which we knew would pass. Then, the glimmer of hope, the INTERIM which although in itself didnt spark a rally, gave us a belief that big things were ahead. A for all intents and purposes it seemed to be lining up that way as the rally provided huge anticipation and then.......BOOM SHAKA LAKA!! The 123 mill share deal blew us all to pieces and we're back to square 1!! Yeah, can kind of see why investors would be jaded..
She seems somewhat 'absent' other than the odd appearance in a PR release. Its great being engaged in the lab and all but a CEO (at least a good one) needs to have a broader skill set. She certainly doesn't seem like the type who has the ability to rally the troops. If this were a football team, everyone would be wondering where the QTR back was?? The team would be in the huddle waiting for a rousing pep talk only to find that the QTR back had gone home for the day.
Maybe they are but buying incrementally in order to get the shares as cheaply as possible. Any sudden, massive buying action would drive the price up. But then again, maybe they aren't and its just everyday people accumulating shares?? One thing is for sure - someone is selling and someone is buying. The great reveal of who exactly still to come!!....in Feb sometime when the conversion is done..
I wonder if secretly Jenny despises us investors as in her mind we have absolutely no appreciation of the complexities involved in this 'higher calling'?? But hey, we've done our part too right? This whole thing costs money and by buying all these new shares, we've helped fund the journey, so we too should feel a sense a pride in contributing to the eventual greater good! And hey, if we get some economic reward too (in the course of time), that would be entirely appropriate!
Reading today's release it does strike me that the field they are in is not something to under appreciate. This is some heavy stuff and they really are trying to help treat people suffering with this terrible disease. It takes some significant smarts to come up with treatments to battle the big C. Again I wish them all the best. As an investor though, its painful!!
"97 million Delcath shares on the wall, 97 million shares. Fast forward the clock - some people bought another block - 94 million shares on the wall". Right sorry - back to doing....something else (but many thanx for taking the time out to update!)
I won't lie, I wish Delcath all the very best and hope they get approval and help people, etc, etc, etc but if i had known that the events of the past week were going to happen, i would've sold my parcel of shares Friday before last. Would probably have re-entered in 2 or 3 months time but would have done something else in the meantime. Like many, i had visions (ahem, dilusions) of being somewhere around 12+ cents on Tuesday and even higher by week's end. Alas however we are re-living the late days of November/early December~ The only comfort now however is that the 123 mill is finite. I dont feel the price will firm again until that number whittles down and the company drops more PR.