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Most companies perform an annual financial audit for each fiscal year. A company's year end is not always December 31. Also, the financial audit isn't performed until a few months after the fiscal year end. Therefore, interim financial statements (quarterly), will be "unaudited." Even the year end will be "unaudited" for a few months.
Also, a carryforward loss for tax purposes means there were losses in previous years. It is not an indicator of current or future operations.
Me, too. I started with 6's, but moved it up to 7 and it hit.
Now I do! Thanks for the info!
CEO with skin in the game is a good thing!
On the bid at 6.
Sam keeps mentioning folks not paying attention to the doom and gloom pr's coming out last summer. Your statement is pretty much what I was thinking. Everything looked good, but everything Jenny said sounded horrible.
I inaccurately brushed it off as her being gun shy because of the former lawsuit.
It is interesting how much discussion Clay brings about by posting these videos. I haven't watched this one yet, but I will tonight.
They are pretty much the same, analyzing the chart based on the 30 minute candles. Straightforward analysis based on the activity of the last day.
But they always elicit the inevitable "kiss of death" posts. I have made those posts in the past as well. He claims that it is simply coincidence when a coordinated short attack occurs the day after he posts his videos.
I am on the fence on this one now. I used to be adamantly anti-Clay. I've seen several times where he would post on a stock that I owned and it would drop the following day. There have been some where it didn't drop.
This thing has been trading like it is being either attacked by shorts or heavily diluted. With the o/s being the same for 3 months, it rules out dilution. So, my guess is going with shorters trying to drive it down. That has been going on without Clay posting on this daily. So, if shorts continue their attack tomorrow, the correlation to Clay's post is irrelevant.
I will say that I should post a Clay charting video mid-afternoon or so. I knew this would make his list today. I wish I was as good at predicting stock price as I am on when he will post a video on a stock I'm holding.
All this talk sounds really good.
However, none of it is reflected in the share price. TOPS is up 56% currently and this is down 20%. A stock commonly regarded as a scam is popping, but this continues to stall in this range of .0008 to .0010.
What is the real story here?
Interesting that June 1st has come and gone with no news. The share price is still above where it was after the last reverse split. If there was only enough cash to last until May 31, how did they operate today?
Someone had suggested they may be juggling bills. That will work in the short term. I've been responsible for accounts payable when cash was short. I had a pretty elaborate schedule on who would be paid when. Intentionally letting some bills go until you get phone calls and then work out a payment plan works for a while. Then, you let others go through the same process. It is possible to stretch things out a bit.
However, it is a very short term fix. It is also extremely frustrating for all involved. I was expecting to hear something before today. Since not today, who knows how long it may be before we hear something.
Dang, man! Are you spying on me? Great minds think alike, I suppose!
As it was climbing today, I was thinking that this would make your list today! I look forward to watching the video to see your take on it when I get a chance!
I'd say most have bought this stock.
The longs have either capped out their resources (or the percentage thereof that they are willing to risk on this) and are holding or have a significant amount of powder set aside waiting to pull the trigger when the time is right.
Personally, I'm in the latter group at the moment. I sold my position before it hit bottom on this last round. I'm thinking the offering is going to bring the price down. I'm ready to re-load once either the offering is completed or PR comes out and I was wrong about a drop.
On the short side, I believe they are pretty much in the same situation.
Everyone is waiting on the news that will send this thing flying. The company is running low on cash. Soon, they will have to raise more. When the news comes out on the details of that cash inflow, this stock price will fly.
The direction remains to be seen. With the lack of shares trading here, I'd put the odds of up or down around 50/50 at this point. Probably more like 60/40 leaning toward the down side or I would be holding to see the news.
That's my two cents on why people are watching and chatting, but not buying.
BINGO!
Something should be coming soon. Cash is running low.
I've got a feeling the offering will not be a moon rocket ignition.
Is that a money back guarantee?
I don't know if I can handle any more sales growth! Over a thousand percent increase over the same quarter last year equated to over a 20@ drop in share price.
Since they seem inversely proportional with this stock, maybe sales need to drop!
Yep, hope for the best and expect the worst. Delcath taught me that I had absolutely no freaking clue on what "worst" actually entailed.
Time after time, I thought the "worst" had come and gone. Delcath proved me wrong time after time.
I have been surprised since this last r/s. They are actually issuing news releases, haven't crammed horrible dilution down our throats, and the share price continues to be higher than the initial r/s price. If only that had happened at the $10 mark on the last r/s instead of a major race to the half penny mark.
I would like to think they have turned the ship, but we still have at least one more offering to deal with.
I believe it would be better to break it into bite-size pieces. I've said that all along. Back when the market cap was much higher, a 1.5M per month cash burn rate was only a couple percent or so.
I don't understand why they felt the need to get all the cash at once and decimate the share price. The burn rate appears to have grown to around $2M per month. That is currently around half of the market cap.
I believe the market cap is grossly undervalued, because the price is factoring in the pending dilution.
Why would there be a squeeze?
Yes, there is a low float and it has proven it's ability to move quickly (in both directions) in the past week.
However, everyone knows that an offering to raise $20 Million is coming soon. Those terms could be good, or they could be horrible.
One thing is extremely likely. Whenever the details of that are announced, the price will move very quickly.
I've got some money on the table, but don't foresee placing any more bets. IF it lands on my Red 7, perhaps I'll add some and chase a little.
I'd say the opposing team (shorts) have basically the same point of view. The bets are in, for the most part.
Oh, yeah! I had forgotten about that! lol
It sounded great when first announced. Then, that came out.
I guess that was so tragic that I blocked it out of my mind.
Wow! I haven't looked at this in a while. I noticed it had dropped below 12 and thought it may be a good time to look back at it.
What happened to the share buy-back? 2 Billion outstanding don't sound like much of a buy-back to me.
I'm out. I'm very happy with a nice quick 58% gain!
I thought that range would look great as well! Sold at .09 and then look back later to see .11!
I saw that as well on mine. Normally, if I place a bid slightly higher than the highest bid, it shows up immediately. It was showing .0490 and I put in a bid for .0491 that never showed up on my level 2. That is interesting.
Nice bids at .06 and .0601 now!
The calm before the storm. A huge storm is coming. The SP will be moving dramatically any day now. The question is which way? It seems that everyone is content to ride out the status quo until we know. Holders aren't selling. Watchers aren't buying. Everyone is waiting.
So, what are we waiting for?
The offering. What price and how many shares? An offering at $10 per share for 2M shares to raise $20M would be awesome! Not likely, but awesome!
An offering at $1.00 for 20M shares to raise $20M would be a bit different. After the offering was completed, the company would have cash to carry them through for a year or so. This would get them close to FDA approval, IMO. The OS would only be 21M. The long-term effect of even that scenario looks good.
I believe these are the two extremes at this point. So, the long-term prognosis looks pretty good to me at this point. The short term is very questionable at this point.
Also, uplisting to NASDAQ is a very likely possibility.
So, let the waiting game continue. Action is coming soon.
Desert Eagle very graciously gifted me with a temporary paid account so I could send PM's after I posted something to someone else discussing that they were considering ending it.
Sam, if you are going to post such amazing wit, you should really put a disclaimer at the beginning of the post.
I nearly choked on my burrito! lol
I was expecting it to be higher. There was a great jump when it first went on the insurance reimbursement in Europe. They did mention a change in GAAP relating to the recording of revenue, so the gross revenue may or may not be apples to apples from last year. I haven't had a chance to dig into the change that they referenced.
While the sales didn't increase, according to the number reported, the gross revenue did grow by around 5% over last quarter. It is still a looooooong way from covering expenses, but it does show some growth.
That is all normal wording. The financials have been audited. We paid big bucks for an independent audit firm to review them.
As an accountant, the financials appear reasonable.
There are a lot of things I certainly don't agree with from this management. However, I have confidence that the financial statements are an accurate reflection of reality.
Heck, if you were going to fake something, wouldn't you fake higher revenue numbers? It don't look great, which makes it even more reasonable.
Comparing Apples to Apples on Revenue
The sales look like a slight decrease on these financial statements. However, there is also a note stating a change in the calculation. This change was not initiated by Delcath. It was a change made by the powers that be running the Generally Accepted Accounting Standards in the US.
I haven't researched that change, but it does bring up an Apples to Apples question in my mind. So, I've looked at the next line down. Sales minus Cost of Goods Sold equals Gross Revenue.
This is a more accurate reflection of performance since it is basically the number that should relate to incoming cash. Also, with the change in GAAP, I believe it is a better Apples to Apples comparison. Here is that line for the past couple of years.
Year Quarter Gross Revenue % Change
2016 1 259
2016 2 361 39%
2016 3 323 -11%
2016 4 499 54%
2017 1 524 5%
2017 2 449 -14%
2017 3 512 14%
2017 4 529 3%
2018 1 555 5%
This is from the company website. The 4th quarter is the total given for the respective year minus the first 3 quarters since it is not specifically stated for the 4th quarter only. The percentage is the change from the previous quarter.
Today looks promising. Pete is working hard for some reason. Nervous?
Quick scan of financials is interesting.
NET PROFIT!!!!!! I had to look a few times to make sure. It is largely due to the revised value of the warrant liability, but a net profit nonetheless!
Change in accounting on revenue. I'll have to look deeper at that to see how that effects an "apples to apples" comparison to last year's numbers.
Even with the possibility of not being apples to apples, the net revenue is an increase. Gross is showing lower, but cost of goods sold is even lower, leaving an increase in net revenue.
Will dig deeper when I get a chance.
34 minutes since the last trade. I guess everyone is waiting to see what comes out next.
Once upon a time, there was a smart investor that had served in the Marine Corps.
Most often, he did not follow the crowd in practically all areas of life. The "must vote no" crowd was no exception.
The smart investor busted out a handy dandy Excel file and pored over the financial statements. Indeed, a reverse split was needed to continue business.
However, the doom and gloom crowd were ignoring the fact that only a very small amount of dilution would be required. The company was only losing a Mil and a half a month. With 500 Million shares outstanding at 15 cents per share, only around 2 percent per month was required.
He bought shares with a win/win scenario in mind. The vote is yes, the company continues with negligible dilution and makes it to FDA approval. A no vote causes a spike because the crowd thinks that is good. Sell on the spike since most think no is good. Walk away.
But, management, some would argue it was intentional, thwarted the spike by simultaneously announcing delisting. Other bad decisions by management decimated the smart investor's balance.
So, if Fuzzy Wuzzy was a bear and Fuzzy Wuzzy had no hair, I suppose the "smart" investor wasn't too smart, wuz he?
"Good" is a relative term. The part that I am guessing is going to be "good" is that the revenue has grown in Europe.
That seems very plausible. Good conference, good financials, and uplisting to NASDAQ are all possibilities in the near future. With the last couple of days and these factors, that $20 mark some people mention doesn't seem too far fetched anymore.
Oh, look! Back to $5!
For the past several months, longs (including me) have been playing with fire with each purchase. I'm starting to think the tide has turned. With 3 positive PR's in a row, I believe the shorts are the ones playing with fire now.
1) There have been several presentations, so that one didn't get me too excited. However, it does show a change in the communication from management. They have been horribly silent for months. Now, they are putting out PR's each day.
2) Today's PR was very encouraging. Why would they start a new trial if they weren't confident in their ability to complete it. Again, the communication change is positive just by itself.
3) According to the past history, the first quarter financials should be out any day. I anticipate the revenue to be over $800k. Of course, I expected 4th quarter 2017 to be there, but they did mention the cash crunch as a factor in the lack of growth there. Breaking the $800k mark would be a great sign. It isn't enough to cover expenses, but it does show improvement and a reduction in the amount of cash required to be raised by other means.
I've been wrong on this stock many times. This time around just seems to have a different feel to it.
Here we go! Back over $6!
Nice base camp! Bid and ask are looking like another leg up coming!
Ditto
I agree. The past 3 days and the pending financial statement look to have moved the gambling odds up a bit.
The 300M - 500M market cap seems reasonable, if not low, if approval is attained. It was $120M not that long ago on the morning it went to 24 cents with 500M outstanding.
I don't know what the outstanding was on the earlier pop to 30 cents or so.