Today's trading pattern.

As someone on this board made mention, the stock price bought and sold was very "tight." From about 12:44 to close, it was flat-lined. I forget the rule number (perhaps Rule 21), but after the price drops 10% a stock can no longer be shorted. This severely shorted stock in the past had profound restrictions put on it today. And there were other restrictions that I cannot explain which they know about to add to the "tightness" of trading. I think today's trading was fudged after 12:44. I believe Delcath has the range in price they want to accept a buyout at the current price, about $0.0680.

A buyout or merger could be imminent.

I would welcome any disagreements or comments.

James

Events for "going dark"

https://www.dorsey.com/newsresources/publications/2009/03/going-dark--voluntary-delisting-and-deregistrati__

Day 1:

The company files written notice of intent to file a Form 25 with the stock exchange pursuant to Rule 12d2-2(c)(2)(ii), issues a press release and files a Form 8-K announcing that it is delisting and “going dark,” and the reasons therefore. This information should also be placed on the company Web site.

Day 10

The company files Form 25 with the stock exchange and announces the same.

Day 11:

The company stock continues trading or shortly thereafter begins trading in the Pink Sheets.

Day 20:

The company files a Form 15 to deregister its shares under the Exchange Act. The Form 15 may not be filed prior to the effective date of the Form 25 (ten days after filing).

The company issues a press release announcing deregistration.

Day 100:

Section 12(b) deregistration becomes effective.

Day 110:

The 90-day period after filing of Form 15 passes making effective the deregistration of the company’s stock under Exchange Act Section 12(g) and the suspension of reporting obligations under Section 15(d), if applicable.

MY OBSERVATIONS:

The company has not complied with these rules of the SEC above. They even were not to file Form 25 until Sept 23 but filed it Sept 15! Many facets are accelerated and are not in compliance with the SEC regulatory rules by doing so. However, would the SEC fine Delcath for rushing the filing of a Form 25? Hardly. There is nothing that says they can't file immediately.

So why the rush? Tekterra believes a buyout is on the way. Could be. Anothr poster would insist BK is on the way; that is why. Delisting or "going dark" does not require shareholder approval. But there was an obvious rush to go to OTC.

Each move to delist and accelerate delist has caused the stock price to be signficantly reduced, a total of about 50%. Was it to make the company prepared to go into BK. Hardly. I contend it was to set the price per share at a buyable price.

Because delistment or "going dark" was inevitable because DCTH no longer stayed above $1 per share, the rush was NOT to make the NASDAQ exchange happy. They already set the timeline and as long as that was fulfilled they were happy. I believe the delisting was motivated to drive the stock price down to a buyable price for the next owner or partner, perhaps $0.05 or $0.06 (where it now stands). Now that we are in the range, the buyout or mergr may now happen.

James

What is M&A

merger and acquisition?

James

Tekterra - so what are you saying?

Are you saying,

1) They are in violation of SEC regulations and don't care.

2) They could be on the verge of being acquired and so there is need for Form 25.

So, if it is #1, then sell, right? If it is #2, then buy or hold, right? Is that what you are implying?

James

I looked but didn't see it.

I can trade, view latest bid/ask/volume/price and LVII. It isn't the best, but it gets the job done.

James

Do it again, bigarow. Go ahead!

I'll get you kicked off IHUb. They'll be getting your private message.

James

I have a TDAmeritrade account.

I traded on it Friday with DCTH. The symbol is the same as always, DCTH. Though the full summary cannot be viewed because TDAmeritrade has not fixed the problem (said they would have it fixed for Monday), the taskbar still shows live data.

James

You apparently do not understand your own link.

If the RS was approved, the company after redeeming its convertible notes would have about $3.8M in remaining debt. Without the RS split, a huge debt of $17M remains and forces the BOD to find new financing or eventually file bankruptcy. A YES on the RS would greatly help the financial solvency of Delcath but wreck shareholders with radical dilution. A NO on the RS split would cripple the company financially but preserve shareholder investments.

James

Yes, bitcoin is climbing, now @ $4039.

Earlier this month it came close to $5000. The uptrend could drive investors to buy, even though the price BTSC has found to have no relationship to bitcoin pricing.

James

It's only been dropping about 20% each day for the last 2 days.

So why would you think that. If the stock is to recover after being delisted from NASDAQ, it may take at least a couple of days beyond Friday's accelerated relisting to OTCXB. I think you need a reality pill.

James

The symbol with change IF it goes into bankruptcy.

They will likely put a Q at the end of it, e.g. DCTHQ. It will go to pink sheets where there is no accountability. In most cases, if and when the bankruptcy goes through, all shares would be liquidated. But none of that has happened yet. Your shares are safe for now if you are invested. And Delcath may never go into bankruptcy.

James

Expectations for the first half hour, anyone?

Closing at the high of a day that uptrended on Friday, it would seem the trend would continue.

James

If Simpson had a previous offer, she should have taken it.

I don't see any new offers coming her way because of the financial condition she had put the company in of late. And I don't see her calling back a company who made her an earlier offer and say, "By the way, I'd like to talk again about the offer you made before." People read financial news daily. They knew then and now now more than ever what financial condition DCTH is in. If there is a new offer, it is much less than previous. And fitting with Simpson's greed, she will certainl not accept a worse offer than before.

Thinking it through, I just don't see a light at the end of the tunnel for longs that would rocket their investments up.

James

It hasn't huh.

The stock was near 0.13 before the NO vote announcement and delisting. Now it has dipped to 0.80. That's a 38% drop in price! You clearly have nothing invested in this stock to write that. In the mean time, those who are long are grinding their teeth.

James

A missing piece

You apparently have not been on the receiving end of a reverse split. I have. Once the split becomes in effect, almost always the stock begins to plummet in price. In many cases, it will retreat to the price before the split occurred. And in a 500:1 split, the value of your shares is a 500th of what it used to be. You like that? I want nothing to do with that.

James

You need to give it up.

You see this from one side, your side. You have bragged repeatedly how you shorted from $6.90 to now. In the mean time, hundreds of shareholders are hurting from the great drop in price. And you want to add to that much greater dilution. If you care so much about this company than people, then partner with them. To see someone who invested $100,000 now become worth $200 with a 500:1 reverse split and it doesn't bother you, well, you just need to go away. If you think first about a company and then people, you are part of the Amerian problem, a lack of concern for your fellow man.

A reverse split was the ABSOLUTE wrong move for this company. I am ecstatic it failed and I hope the one who promoted it, Simpson, fails in all she does for how she promoted it and how she reacted to its failure. Contrary to what you think and how you have everything figured out, this company will NOT be filing for bankruptcy protection. It has far too many intangible assets that have been shown to be good for Germany and good for the world. But then again, what do you care about people?

James

I left today.

As usual, I will be watching from the sidelines. But the whole thing has gotten too ridiculous as I have spelled out. Someone on this board mentioned that this whole thing is now "high risk." Anothr said "the dream is over." I believe both those size up investing in this company thanks to the BOD. It didn't have to be this way, but that is what it has become. Some will continue to chase the dream of a takeover or a buyout, but one poster says next week the company will file for BK. In light of what direction this "company" has taken the shareholders, I would not be surprised. Then, the price goes to a fraction of a penny. Been there. Ugly!

No, I will watch for a while and invest in something that has greater potential because it has better people at the helm.

James

I disgree. A stock listed on a major exchange lends far greater credibility than a OTCBB stock. It has more accountability.

In addition, there are no premarket or AH trading sessions. Lots of traders like those times. For those like me who make decisions usng LVII, the listing of blocks of shares are large and lack resolution to 100s of shares. Also, it is nearly impossible to find live quotes of OTCBB stocks unless a brokerage site is used. Who can make financial decisions with a 20-minute delay? And, because OTCBB stocks are less than $5/sh, the margin requirements are higher meaning an investor has to keep a higher balance in his portfolio to trade on margin. I am sure there are other benefits I have left out.

No, a company has disadvantaged itself if it has to move down from a major exchange because of not meeting the basic requiremnts to the OTCBB exchange. No question. Of course, the company sinks even further when it goes to pink sheets. Been there and done that.

James

She has turned her back on the shareholders. There is nothing to sweep under the rug. It still is ridiculous. I have never seen anything so blatant in my trading years (that I knew about).

James

No AH with OTC stocks.

That 0.082 is a carryover just before the regular session ended.

James

Been here before

Bought in about 15 minutes before the close. I have watched this over the last few months, have made some money after getting out. I saw the latest move up, then the big dip to the 0.05s. It is always a good sign to close at the high of the day after coming out of the lowest dip in months.

I will play this out as far as I can, a few days or longer. Perhaps this time investors will get serious about bitcoins and run this to $1.

James

This whole thing is quite ridiculous.

Simpson makes 3 or 4 efforts to discourage shareholders to vote YES. She even has people intimidate the shareholders in calling them to have them vote YES. When it fails, Simpson deliberately emphasizes the delistment from the NASDAQ to pull the price down. Then, if that is not enough, she has it delisted 7 days early to spitefully get at the shareholders who voted NO on her proposition.

So, she has been successful. She has pulled the whole price down about 40% to get back at the shareholders. At this point, if she was offered a good buyout option, I am not convinced she would take it just for spite with the shareholders.

The whole thing is ridiculous.

I am seriously considering pulling out for good. I will see what the next half hour brings for price change.

James

Will you?

James

That's kind of what I meant. Poor resolution in knowing how many shares are available for selling or buying.

James

The trading blocks are much less defined.

On LVII, it is quite obvious in the difference. They round to 10,000 share blocks. NASDAQ showed down to 100 shares.This can effect trading practices. My broker does not show DCTH any longer except on the task bar below, no details. They said they would get it fixed by Monday.

James

https://finance.yahoo.com/quote/DCTH?p=DCTH

On 20 minutes delay.

Easy - she wants to stick to shareholders

The faster she can relist with OTC the sooner the stock price will drop (going to a lower listing). Tighter accountability regarding reporting, premarket and after hours trading and who wouldn't rather buy a stock listed on the NASDAQ than OTCBB?

The whole thing is vengeance on Simpson's part. And it disgusts me even as I am typing this.

James

In regards to pink sheet and over-the-counter (OTC) listed securities, short selling is allowed. An OTC security is one that is not traded on a formal exchange such as the New York Stock Exchange or the American Stock Exchange. OTC securities are often quoted on the OTC Bulletin Board (OTCBB). Pink sheet securities are very similar to OTC securities in that they are not listed on exchanges, but are quoted on a daily publication issued by the National Quotation Bureau. However, pink sheet securities carry much more risk because they do not require the companies to register with the SEC or stay current in their financial statements.

James

Simpson sticks it once again to shareholders

Delcath has accelerated the relisting of DCTH to OTCQB effective tomorrow instead of the 22nd.

https://finance.yahoo.com/news/delcath-announces-accelerated-listing-otcqb-201500032.html

And sure enough, the stock drops 10% in AH. She should be locked up.

James

Getting close to 0.10.

And the good time this time is that the volume is sustained. No more fading off to a bunch of 100 share blocks being traded.

James

I believe all trading has been buying in premarket.

Volume is light but could signal what traders in the regular session are thinking: prices are low and need to be scooped up.

James

Money always talks with the Simpson type. If a partner can come along to fatten her wallet or sell the company for a heavy profit, she will sell. She is beinng forced to do something or lose it all. That is good for us and good for the company. We have her where we want her by the NO on RS.

I believe an upward trending share price will reflect that.

James

Premarket up nearly 10%

DCTH has filed a 13-K officially acknowledging that the RS failed this morning. 40.5% voted against. That was enough to shoot it down.

Now traders are beginning to speak with a near 10% rise in stock price. They know that this NO vote is good for the shareholders and good for the company's financial condition by forcing the BOD to be acquired or partnered with some other enterprise.

James

How does today's announcement affect the stock price?

To most, that is the leading question. Will the stock price grow in price or retreat? Though the investment community sees today's announcement a negative for the price to drop nearly 20%, that may not be so important tomorrow or the days ahead of us. After all, our investments will not diluted by another reverse split.

So DCTH will be taken off the NASDAQ. So what? The financial problems of the company still exist.

For two reasons I believe starting tomorrow the price should be uptrending: 1) no dillution to investors and 2) the BOD will be forced to address the financial problems by merger or takeover or buyout. With these two reasons on the forefront, at last the shareholder's investments are protected and the company will be financially protected with one of several options on the table.

Now is a good time to be in.

James

Interesting, the symbol will not change.

It will still be DCTH but the suffix wil be .BB. This will not be a pink sheet stock which is the crappiest of all stocks with no accountability. A pink sheet stock would end in the suffix .PK. There will be no premarket or after hours trading but being a OTC is not all that bad. Delcath could reapply to be NASDAQ listed again when the price gets to a required level. If Delcath gets new leadership, then earnings could go up rather than being consumed by the BOD and investors would see a good investment.

James

And then there are the shorts to keep in mind.

They have been the bubonic plague to this stock rising to what it should be. Now that they see a stock down 20%, they will try to seize the moment and likely short heavy. Something to keep in mind if re-entering market.

James

If this continues ...

... it will be a bloody opening. Traders hate investing in the regular session when premarket plummets.

Wait for the dust to settle after 9:30.

We might even hear from WarChest.

James

Play the game leegy.

Let it dive like it wants to do (down 31%) and buy back in to reduce losses.

James

Toro

I got out yesterday to buy in at a lower price and pick up shares. I was trying to buy back in again @ 0.1150 (the order had been placed) when I saw the news and how the traders were reacting. So I pulled my order. I did not expect this but then again, I forgot Simpson is running the news. This is still a good investment so I am looking to get back in as soon as the stock bottoms out and bends up.

I think it is very sad the shareholders have to go through all this.

James

Premarket signals are not positive after news release.

No buyers, two sells. Ask has dropped from 0.1275 to 0.1200 which means sellers think they will have to settle for a lower price due to the delistment notification.

The NO vote is very good, but whoever wanted to buy on news their stock was delisted? Few. I believe this is a Simpson maneuver. The announcement could have been something like "Shareholders vote down reverse split" and discuss the voting results and what follows. Instead, the announcement is "Delcath Announcements Relisting on OTCQB." Simpson denegrated the new listing. She stuck it to the shareholders!

Even now, 14,000 shares were sold at 0.1150 and the bid has dropped to 0.0900. The ask has lowered to 0.1180. If this continues for the next two hours plus, it could be an ugly opening.

James