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BTC futures now sitting at 10,736. If 10,000 becomes the new support level, it could shape up to be an interesting week. Let's get those 1000 rigs up and running ASAP and start printing multi-Benjamins!!!
Note to the moderators - Who has been messing with the INTV message board landing page here? It shows incorrect data for:
Authorized/Registered Shares: 5,000,000,000
Outstanding Shares: 1,038,288,337
Trading Float: 236,959,467
It also shows: "MINING RIG COUNT: 6 units ordered or operating as of 4/18/2018. 2500 unit capacity"
Anyone know what's up with this stuff?
BTC futures broke 6K tonight. Currently sitting at $6232, but it remains to be seen what it does overnight. However, it has generally been in a good uptrend since the beginning of April. We shall see....
@odega - You need to understand that Ted doesn't need your shares. After yesterday's move, he effectively bought the R/S vote through the use of preferred shares. The common shares will have NO voice. He took a page out of the Delcath playbook. They did the same thing to their shareholders last year. Don't be surprised in the least bit when HMNY announces a 1:500 or 1:1000 R/S with the full approval of the preferred shares.
Looks like we got "Delcath-ed". From what I can see, they bought their R/S via preferred shares. Let's see after the dust settles....
IDK - Maybe he should be trading pork belly futures!
OK - I have to admit... I was pretty intrigued by the news this morning. Buying a retired 80 MW power plant so you can generate your own electricity to run your mining rigs. That is definitely NOT something you hear every day. On the surface, it sounds like a great idea. After all, getting your power at $0.03 / KWH when everyone else is paying 4X to 5X that, or more, would be HUGE.
However, running an 80 MW power plant requires skilled operators, maintenance, capital investment for aging equipment, etc. The news feed did not indicate what type of power plant it was. If it's older, I'm assuming it was probably coal-fired? Regardless of the type, equipment upkeep and regulatory compliance is non-trivial (assuming it's going to be connected to the power grid to sell excess power). I have to believe that the generated power is going to cost more than $0.03 / KWH after factoring in all of those costs.
The other thing about this is the issuance of a LOT of shares to pay for the power plant. Going to be some dilution coming, I think....
In spite of that, though, it's definitely an interesting development, but I'll remain cautiously optimistic....
@StockItOut - The company is incorporated in Delaware, so I think a reverse split requires shareholder approval under Delaware corporate law, regardless of which exchange the stock trades on.
@StockitOut - Maybe what they mean is that since they've done so many R/S's and attempted another recently, that they've become rather routine. Yeah .... That's it - it's our fault for not understanding
@BitToeThumb - Yeah, my account with Fidelity threw the same error. It's been a while since I tried to buy INTV, so this may be a recent development . I was contemplating buying some before the 10K came out and I got the same message you did. I haven't looked into it, but a call to Fidelity would probably take care of it.
@longsong - According to Fidelity, ER is today. That's what shows up in the daily dashboard for ActiveTrader Pro.
@longsong - Nice try, but they can't guarantee the SP will stay above $1. If they manage to R/S this thing (through some sleazy tactic, because I just don't see enough votes changing), they would have to get it to at least $50 post-R/S in order to have any chance of it not getting shorted to oblivion within 2 weeks -- And that's assuming they had some incredibly good news to keep it propped up.
@bigtimetrader - It doesn't matter. Date of record is September 14th. Shares bought after that date don't count towards the vote. The fact that they've delayed this twice so far speaks volumes. They DON'T HAVE THE VOTES!! and they're not going to get them. Expect them to ratchet up their calls to sh'ers. Before, they were probably only contacting large holders. My guess is that now even some of the smaller holders will be getting calls...
@naturalborninvestor - Exactly! The key is in the word "submit". If you don't submit the proxy, there is no automatic vote for or against. It is simply treated as a non-vote. As such, it also does not count towards the total number of votes present needed to make a quorum. I've seen cases in the past where a vote had to be re-convened because there were not enough shares represented to constitute a quorum.
@longsong - Same for me. My shares are held at Fidelity. I recentlty checked and the original NO, NO votes I entered had not changed.
@Scotttrader80 - Yeah, I suppose you could get used to those 20% pops. But, then you wouldn't be able to BUY THE DIPS
True. He doesn't know what the market's going to do tomorrow. But he does know what HE'S going to do tomorrow
And let's look for the inevitable post from ClayTrader. Wait for it ....
Not True: All shareholders of record on 9/14/18 or before can vote. I just did. 20,000 NO votes on both proposals!!!
Sorry - That's not how it works. CORPACT means Corporate action, which is the rights offering announced by Delcath. As you recall, Delcath issued us (the bagholders of record) the right to buy 500 shares at $1.75 / share for each share we currently own. so, in your case, you can buy up to 12,000 (24 x 500) shares at $1.75 per share. If you want to do that, you have to contact your broker prior to the expiration of the rights on 9/26. It sounds good in theory, with the shares currently trading above $1.75 / share, but the problem is that the shares don't actually get issued to you until 15 days after the rights expire, so my understanding is that you can't immediately turn around and sell them. Somehow, I doubt the share price will continue to be propped up for that long after the rights offering ends. GLTY
I let mine expire. No way in hell would I put another penny into this POS. From day one, it was a speculative play for me. I put in all I was willing to risk (and lose). I'm so far down after the continuous dilution that at this point, I'll hold on to the little I have left and see what happens with it. Maybe some day they will turn it around (although I have my doubts given the propensity of the BOD to engage in financing arrangements that are not beneficial to shareholders). GLTA!!
I wouldn't read too much into the stockvest recommendation. It was basically just a rehash of INTV PR headlines and no substantive analysis given. At the bottom of the page, in the disclaimer there was a statement that stockvest had been paid 200,000 restricted shares for 90 days of service to Aug 14. So, to me, it amounts to a paid advertisement, rather than any kind of objective analysis.
I do think INTV will eventually pop, but not unless we see a big runup in BTC. This, like most of the cryptocurrency-related stocks, is highly speculative.
As for me, I'm still holding long, but I've "bought the dips" enough times to reach the limit of what I'm willing to speculate with. GLTA!!
Oooooh - lookee here - Roger Stoll and Willaim Reukert both buying DCTH??? What's this? Definitely caught me by surprise that anyone from the BOD is actually buying. Granted, pretty small amounts, but still a buy.
https://www.sec.gov/Archives/edgar/data/872912/000089924318021302/xslF345X03/doc4.xml
https://www.sec.gov/Archives/edgar/data/872912/000089924318021284/xslF345X03/doc4.xml
C'mon Jenny, Simon - Join the party. Buy some of your P.O.S. stock!! LOL!
@tmp118 - True, but don't forget that the run-up to $5.91 coincided with BTC hitting $17K.
@DE - The first sentence in your post sums everything up very succinctly!!
All-righty then... A new PR this morning:
Well, at least it's not another R/S, so we've got that going for us. LOL!
NEW YORK, July 16, 2018 (GLOBE NEWSWIRE) -- Delcath Systems, Inc.(DCTH), an interventional oncology company focused on the treatment of primary and metastatic liver cancers, today announced that it has filed a registration statement on Form S-1 with the SEC for a rights offering for up to 28,571,429 shares of common stock at the subscription price of $1.75 per share. Under the terms of the rights offering, on August 3, 2018, Delcath(DCTH) expects to distribute, at no charge, 500 non-transferable subscription rights to purchase shares of its common stock to holders of record for each share of common stock held on the record date, and to holders of its warrants to purchase common stock held on the Ownership Date, as of 4:00 p.m., Eastern time, on Wednesday, August 1, 2018. Each basic subscription right will entitle the holder of record to purchase one share of common stock at the subscription price of $1.75 per share. Holders as of the record date that exercise their basic subscription rights in full will also have an over-subscription privilege, pursuant to which they may subscribe to purchase additional shares at the subscription price to the extent that not all basic subscription rights are exercised, subject to certain limitations and as more fully described in a prospectus relating to the rights offering. The subscription rights will be exercisable until 5:00 p.m., Eastern time, on August 27, 2018, unless extended.
Delcath (DCTH) has entered into a backstop commitment with an institutional investor which provides for its purchase of shares of common stock that are not subscribed for in the rights offering pursuant to stockholders’ exercise of their basic subscription rights and over-subscription privilege at the subscription price and otherwise on the same terms as the shares offered to stockholders in the rights offering. Within two business days following the satisfaction of customary closing conditions contained in the backstop agreement, and each successive 15 business day period thereafter during the term of the agreement, the investor has agreed to purchase up to the number of Delcath(DCTH) shares equal to the lesser of (i) $1,000,000 worth of shares or (ii) 20% of the dollar trading volume of the common stock on the OTCQB marketplace on the five business days immediately preceding the purchase date. The backstop agreement will terminate on or before June 30, 2019. The terms of the rights offering and the backstop agreement are described in Delcath Systems’ registration statement on Form S-1, which has been filed with the SEC and can be found at https://www.sec.gov/cgi-bin/browse-edgar?CIK=dcth&owner=exclude&action=getcompany.
Expected Calendar for August 2018 Delcath Rights Offering
Wednesday, August 1, 2018
Ownership Day, must be a shareholder as of the market close at 4pm
Thursday, August 2, 2018
Ex-Rights Day
Friday, August 3, 2018
Record Date
Tuesday, August 7, 2018
Subscription Period Begins
Monday, August 27, 2018 Subscription Period Ends
If you have any questions or need further information about this rights offering, please call D.F. King, Delcath’s information agent for the rights offering, at (212) 269-5550 (bankers and brokers) or (877) 732-3612 (all others) or email at DCTH@dfking.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor will there be any sale of any securities referred to in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. The rights offering and the backstop commitment offering will be made only by means of prospectuses meeting the requirements of the Securities Act of 1933, as amended.
About Delcath Systems(DCTH)
Delcath Systems, Inc. (DCTH) is an interventional oncology Company focused on the treatment of primary and metastatic liver cancers. Our investigational product – Melphalan Hydrochloride for Injection for use with the Delcath Hepatic Delivery System (Melphalan/HDS) – is designed to administer high-dose chemotherapy to the liver while controlling systemic exposure and associated side effects. We have commenced a global Phase 3 FOCUS clinical trial for Patients with Hepatic Dominant Ocular Melanoma (OM) and have initiated a Registration trial called The ALIGN Trial for intrahepatic cholangiocarcinoma (ICC). Melphalan/HDS has not been approved by the U.S. Food & Drug Administration (FDA) for sale in the U.S. In Europe, our system has been commercially available since 2012 under the trade name Delcath Hepatic CHEMOSAT® Delivery System for Melphalan (CHEMOSAT), where it has been used at major medical centers to treat a wide range of cancers of the liver.
Forward Looking Statements
Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made by the Company or on its behalf. This news release contains forward-looking statements, which are subject to certain risks and uncertainties that can cause actual results to differ materially from those described. Factors that may cause such differences include, but are not limited to, uncertainties relating to: successful completion of the Company’s Rights Offering and related transactions and the amount of gross proceeds, if any; the timing and results of the Company’s clinical trials including without limitation the OM and ICC clinical trial programs, timely enrollment and treatment of patients in the global Phase 3 OM clinical trial, IRB or ethics committee clearance of the Phase 3 OM and ICC Registration trial protocols from participating sites and the timing of site activation and subject enrollment in each trial, the impact of the presentations at major medical conferences and future clinical results consistent with the data presented, approval of Individual Funding Requests for reimbursement of the CHEMOSAT procedure, the impact, if any of ZE reimbursement on potential CHEMOSAT product use and sales in Germany, clinical adoption, use and resulting sales, if any, for the CHEMOSAT system to deliver and filter melphalan in Europe including the key markets of Germany and the UK, the Company’s ability to successfully commercialize the Melphalan HDS/CHEMOSAT system and the potential of the Melphalan HDS/CHEMOSAT system as a treatment for patients with primary and metastatic disease in the liver, our ability to obtain reimbursement for the CHEMOSAT system in various markets,, approval of the current or future Melphalan HDS/CHEMOSAT system for delivery and filtration of melphalan or other chemotherapeutic agents for various indications in the U.S. and/or in foreign markets, actions by the FDA or other foreign regulatory agencies, the Company’s ability to successfully enter into strategic partnership and distribution arrangements in foreign markets and the timing and revenue, if any, of the same, uncertainties relating to the timing and results of research and development projects, and uncertainties regarding the Company’s ability to obtain financial and other resources for any research, development, clinical trials and commercialization activities. These factors, and others, are discussed from time to time in our filings with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date they are made. Except as required by federal securities law, we undertake no obligation to publicly update or revise these forward-looking statements to reflect events or circumstances after the date they are made.
Contact:
Delcath Investor Relations
Email: investorrelations@delcath.com
D.F. King
(212) 269-5550 (bankers and brokers)
(877) 732-3612 (all others)
Email: DCTH@dfking.com
Source: Delcath Systems, Inc.(DCTH)
Or the example of letting the share price drop from $12 to less than 0.01 without so much as a few PR's or conference calls to try to stem the bleeding, all the while collecting a nice paycheck? Oh wait, I'm sorry, that doesn't fit the narrative here....
@Jmd6118 - Could go either way. I guess it all depends on who blinks first...
@slmlrd - I agree. Kind of difficult to scalp when daily volume isn't even 10K shares!
This thing's beginning to remind me of the scene in "Inglourious Basterds" when Lt. Aldo Raine says "Looks like we've got a good old-fashioned Mexican Standoff here.." Longs and shorts are both waiting for the other one to blink first!!!
Volume is so low today, it's difficult to draw many conclusions from it. Trying to buy some at $1.25, but no fill yet...
Admittedly, I'm kind of surprised (and quite happy), that it's managed to stay above $2.50 for as long as it has. Of course, with a volume of less than 10K shares on the day, it's quite obvious that both selling and buying interest appear to have dried up. I agree - It's become a waiting game...
And you know this how?? If you don't provide any substantive evidence with your post, you're just pumping.
I'm solidly on the sidelines for this one. Still holding after my (probably ill-advised) initial investment prior to the June '17 R/S and subsequent (probably even more ill-advised) attempts to average down to 0.07 prior to our most recent R/S. Will not put another cent into this, so I will either lose it all though the "death by 1000 cuts" process of more dilution, or if we get a decent spike I'll get out with some portion of my modest position intact. Not holding my breath waiting for that to occur, though. GLTA!
Wow - Crazy low volume today!
@jmd6118 - LOL - That's hilarious! I just looked and saw the SP now!!
Nah - RAP's too busy trying to book discount airfare to Romania to be bothered with taking a leap off the GWB.
Been there. Done that. Still bleeding from it. At this point, I'm in the 95% club, so little use in selling now. I will hold until the bitter end to see what awaits us, but definitely will not be throwing any more money down the delshit rathole. GLTY!
@Jmd6118 - The run's already started. Problem is - it's in the WRONG direction!!! LOL!
Typical Delcath. Down 50% one day after R/S. What a POS!!!! Not surprised, though, as it is behaving exactly like the last one. Even though this morning's PR is positive, it's too little too late. Shorts are having another field day.
LOL! I should know better than to take anything here too seriously!! GLTY!