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Yep, they are out in force! My view on Delcath has changed to where I don't plan to average down again, but these jokers make me wonder. Things don't look good to me, but the sheer volume of these folks spouting off the super low prices makes me wonder.
On the other hand, where are the classic pumpers? The Ronald Wayne folks from the ride down several months ago are missing in action. I'm somewhat ashamed that one got me. The research on the company, the sound product, the growth in Europe, and the pumpers saying not to be like Mr. Wayne. I was more scared of selling just before the share price spiked than I was in losing what I had invested.
This stock has had several chances to run that were thwarted by ill-timed releases from the management. Once, you could chalk up to coincidence or blunder. This has happened multiple times. Too many to be coincidence. Some have speculated it was to spite shareholders for the no vote. I've wondered at times if her "doom and gloom" announcements were a reaction to the previous lawsuit by ahareholders. If everything she says is all "doom and gloom," how could she be accused of pumping the stock?
I don't know what it is, but it has to be intentional, in my opinion.
Agreed! I really should just move on, chalk it up to one of the most stupid things I've ever done in my life, and forget about DCTH. But, somehow, I still hold on. Insanity, I suppose.
Good luck! I hope your magic 8 ball showing that it has bottomed out works much better than mine! I thought the same thing at each of the following prices (reverse split adjusted. Each time, I was sure the bottom had been found and a jump in share price was imminent.
$63
$52.5
$42
$35
$28
$21
$14
$10
$8
$5
$2
$1
.75
.50
.20
.10
.05
.04
.03
.02
I bought the first several "bottoms". I held through all of them. I bought the new, for-sure-without-a-doubt-absolutely-has-to-be-the-bottom of 4 cents.
Now, even that "bottom" has lost over 50%!!!!!
My opinion is that the current management should be kicked out. Actually, everyone involved in the debacle of $55 per share dropping to under 2 cents per share should have a shred of decency, admit they royally screwed up, beg for forgiveness, and humbly resign.
But no, they are expending more time, energy, and dollars to protect their management position instead of looking out for the best interest of the owners! If they spent as much effort on growing the business in Europe, moving forward on FDA trials, and reducing corporate overhead, the need for any dilution would be decreasing quickly. The blunders of this management would make an excellent case study on what not to do for anyone in business management classes.
Why would it have to be a stupid, rich buyer? Share price was around 4 cents. They bought 250M at 2 cents. Selling shot up. MAXM came back. In my opinion, they started selling those 250M immediately at a nearly 100% profit. If you can make such a huge profit right off the bat, why would you care about how the r/s effects the poor chaps that bought your shares?
The only thing that makes sense to me on the sale of the 250Million shares at roughly half of the current market price is to buy a yes vote. If not buying favor with the offering, why the low price?
Their filing is today. There is only one person listed as owning over 5%. Wouldn't they be required to list other owners of 5% or more on today's filing if they existed?
There is a sucker born every day! A whole new batch of folks will see the horrible drop from the $10 plus range to the sub-dollar range and think they are getting a steal! They will invest heavily all the way down. Just like I did. Just like many others did.
Eventually, some will get very lucky. They will buy on the last ride down and actually have some shares for the meteoric ride up when FDA approval comes.
That's what many people (including me!) thought on the last vote. However, at the same time they announced the no vote, they announced the voluntary de-list. That could have waited a few days and there likely would have been at least a slight run as before.
IF there actually is a NO vote again, I would be surprised if they didn't announce something in conjunction with the announcement of the results that would drive the price lower and prevent any organic rise because of the vote.
I believe the vote is simply a ruse, though. I believe the votes are in the bag.
Are you married? That is the best analogy I can think of. Often, it was wise to just let my ex-wife think that she made the decision on matters. Even when I knew which way something would work out, it would be a bad idea to say so. As long as she chose the option that was going to happen anyway, a lot of fighting was avoided. If she chose the option that I was against, then the battle ensued. Of course, she usually won anyway! But sometimes I was able to steer her to my side of an issue without stating which side I was on. On those cases, the disagreement was avoided altogether.
If they put it to vote and the shareholders vote yes, the shareholders feel like we have the power and it was our choice. If we make the choice that they do not want (a no vote), they simply move on with it anyway. By putting it to vote, they basically have a 50/50 chance of keeping some peace. In my opinion, it is just for show. They have the votes but at least have some slight sliver of decency and are at least going to offer us the crumb of a 50/50 chance of feeling like it was actually our decision when the reverse split goes down.
Good luck to you! A spike would be nice!
Believe me, you do NOT want my advice on when it is a good time to buy this!
I have thought it was a good time to buy so many times, it is ridiculous. I have an extremely high failure rate on predicting the proper time to buy.
I suspect 4th Quarter 2017 will show continued growth. With the cash crunch, it may have slowed. I was expected 3rd Quarter 2017 to show growth in revenue, but it actually declined slightly from 2nd Quarter 2017. Inventory rose, so that would indicate an expectation of growth in sales in the near future.
Those large growth percentages over the prior year is one of the main factors that contributed to my faith in the company. It started increasing when it got approval on the insurance system in Europe. My guess is $850k in revenue for 4th Quarter 2017. Of course, I was thinking $750k - $77k5 for 3rd Quarter 2017, but it fell below $700k.
I am very familiar with that article. I bought it hook, line, and sinker when it was first published. That is one of the things that caused me to research the company so much.
The research looked good, the article validated what I saw in respect to many things. It was also a contributing factor in my complete and total blunder of thinking the stock would recover and rise when it dropped down to 18 cents or so on the morning of a conference in Germany where it had reached 24 cents or so in the pre-market (at a point in time when I could not trade in the pre-market or I would have definitely sold!) Surely it would rise back into the 20's.
Then, it was that it would surely rise back above 15 cents. Then, 10 cents. Then, 8, 6, 4, 3. Oh, and then the reverse split.
I'm just glad I didn't have money available to buy when I thought the new low post-split was $8.00, then $6.00, oh boy $2 what an amazing buy!, then $1, 50 cents, 20 cents, 10 cents, 5 cents.
I finally did buy some more at 4 cents, since surely that is the bottom. After all, the article mentioned serious upside potential. The toxic debt seemed to be gone. Earnings should reflect more growth in the 4th quarter 2017. This thing is saving lives in Europe. It looks like they are getting everything in order. Surely this has finally reached the bottom.
Then, they decided to vote for BOTH another reverse split and double the Authorized Shares. Another 50% loss on the new batch.
So, I strongly disagree that nothing has changed since that article was published. What I mentioned here is a whole lot of water under the bridge since that point in time.
That doesn't include the current 50% loss on this last round! I finally decided we were near the bottom and bought some more with an average of 4 cents per share. Even that batch is down more than 50% at the current time!
I agree with you that a lot of good things are in the pipeline. However, it is a crap shoot on what will come first. If the company survives and makes it to FDA approval, this stock price will skyrocket. However, market cap is under $10M. The cash burn rate is $1.5M per month, or 15% of the total market cap. At this point, if they only diluted what was necessary to get by instead of dumping all the possible shares as fast as possible, it would still be a 15% dilution per month.
I was at Ceasar's Palace in Vegas years ago. A friend had borrowed $50 since he had busted out. I found him a short time later and he had a stack of chips. He was calling the field bet 80 - 90% of the time. When he thought it would hit, it would hit. When he didn't think it would, it didn't. At the point I saw him, he had already moved from red chips to green. Soon, he moved to black. Eventually, he moved to purple. He turned that $50 into several thousand dollars in a very short amount of time.
So, the moral of the story is that sometimes one can get extremely lucky at craps. Make no mistake, this is a crap shoot. IF we are lucky, some of those positive things in the pipeline will drive up the market cap to a point where future dilution would be minimized. It looks like to me that DCTH history is set up to repeat itself. The dice are cold and we are about to crap out.
At the time the split occurred, yes, it was around .03. However, that was a dramatic drop from where it had been just a short time before.
The voluntary de-list caused a large drop. I was kind of forced to participate in that drop since I couldn't trade for a few days after going to the OTC. Then, the "We're doing a reverse split regardless of the vote" dropped it further.
So, since the split, it has dropped 99.8%. Immediately prior to the split, I was already down 80%!
Well, that didn't last long. They sure don't have much patience. One glimpse at level 2 - 1 M shares at .045.
Glance back a little later and back to the 10k at .02
Was that just a flex of the bicep on their part to let us know that they have a million shares to sell?
Well, maybe MAXM will sell their million shares! I wouldn't mind that too much at the current ask price. One million shares at .045 don't sound too bad.
Today is a great day to own DCTH! I haven't lost a single penny!
Thanks to all for the private replies! Just to let you know, I am not ignoring those. I am not a paying member, so apparently, I can't send private responses. It looks like a fine message board, but I'm too cheap (and broke!) to cough up the cash for the extras.
I've hung in there with these folks for a long time. This filing seems like a huge slap in the face. I am color blind, but it sure looked to me that my skin turned green when I read it. Of course, Country Crock bowls look green to me. Definitely more of a green hue than normal, though.
That is exactly my thought every time I see the lawsuit thing thrown up. The only winner financially is the lawyer.
With this horrible travesty of management's complete and total incompetence and total disregard for the shareholders for whom they are supposed to work for, SOMETHING ought to be done. Such horrible annihilation of investor's value should at a minimum lead to loss of employment for those running the show. How they can continue with impunity is very disturbing.
So, with that being said, if suing them is the only possible recourse we have for their blatant disregard for our welfare, then so be it.
lol! Good sense of humor on the 370!
I agree with you. While the price tag right now looks somewhat tempting due to the extremely low market cap and such, I won't be averaging down any more any time soon. I did average down a while ago. My average is pretty close to yours at 40 cents per share.
One batch at an average of around $55 per share and one batch around 4 cents per share.
I came in after that run from 2 cents to 36 cents. You seem to know more than I do about intentional pumping. I would be interested to know your take on the pumping leading up to the conference in Germany. That morning, pre-market was up to slightly over 24 cents. I believe it was back down to around 18 cents at open. That morning was a big reason I held out hope of getting back to that range with my 15 cents average.
I, too, was the most excited about the growth in Germany. Something that no one was talking about was the approval on the insurance reimbursement system in Germany. I am an accountant involved in healthcare. That looked huge to me. I expected great things to come out of Germany, which would reduce the monthly cash shortage.
I also ran an analysis of the reverse split and dilution at the time. At 15 cents per share and 1.5 million cash shortage per month, the company only needed to dilute 2% per month. 500M outstanding shares X 15 cents = 75M market cap. 1.5M / 75M = 2%. That seemed like a minimal amount to me, so I didn't see the big deal with the reverse split at the time.
Of course, now with a market cap of under 10M, those numbers change dramatically.
2 cents sounds like an incredible deal! However, it was not so long age in the 2 cent range. For those shareholders that still have shares from that range, including me, the share price now has 4 zeros after the decimal place and before any other numbers.
1.81 cents divided by 350 = .0000517! With this new garbage going on, all those seemingly ridiculous posts of "I'll buy it sub-pennies" don't sound quite so ridiculous.
That last sentence sounds like an excellent reason for a revolution of shareholders. We are the owners. The current board specifically says in black and white that they do not want US to receive a premium over the current share price.
How could a board of directors possibly be any worse?
Very much so! Going to a buck to maintain compliance with NASDAQ!
The big demonstration in Germany. Boy, it was pumped up so much. That morning, I was up at 5:00 watching the pre-market soar. All the chatter, 40 cents sounded very reasonable since it hit 24 cents so fast before the market opened and the conference even started.
Then, market opened and the descent started. It still has not ended and doesn't appear to any time soon after that last filing.
I was going to post a response and say that it will never actually show .0001 as the traded price. Split adjusted, maybe.
Then I did the math. You are spot on. .02 Divided by 350 equals .0001. Well, rounded to four decimal places, that is. The actual current share price, after factoring in the 350 to 1 reverse split is .00005714. Four zeros!
Let's do another! Can we get to 8 zeros in another 2 months?
What good will that do? I say go for it! File! Sue! Whatever!
But I've heard all that before. When it was 15 cents, had the run up to 24 cents, back down below 10. Somewhere in that time frame, folks started blowing up the message boards about suing.
Maybe when it went over the counter. Well, it was before that because it was on Stocktwits. A whole lot of talk about joining the lawsuit. I've still got some shares from that time frame and haven't heard or seen anything about any lawsuit.
This management just seems to be able to do whatever they want with impunity. It is disgusting!
Yeah, I know, I am the dumbass that bought the shares and didn't sell them. I just had no idea they could blunder something that looks to be a great product so horribly.
Then let's fire him! Whoever is throwing up under the bus, let them go!
I can not fathom how people involved with the total destruction of other people's monetary value can sleep at night. If I failed at something so mind-blowingly horribly that an investment of thousands of dollars no longer would buy a happy meal just a few short months down the road, I would hang my head in shame, apologize profusely, submit my resignation, and step aside for someone competent to come in and try to put the pieces back together.
But no! To hell with the fact you just dropped a nuclear bomb on shareholder value. Let's do the same exact thing again! Let's do it even worse. Instead of just a reverse split, let's also double the approved share count! Hell, I'm getting my paycheck. Who cares about the peasants? Oops, I meant shareholders.
Can't we fire her? The shareholders are the owners. How in the hell is she still in power? Doesn't she work for us? Instead of putting r/s and doubling the outstanding shares up for shareholder vote, how about we put whether or not to can the present leadership up for shareholder vote?
Seriously, why does she have the power to absolutely destroy the investment of the OWNERS of the company with impunity? United we stand and divided we fall. Why can't the owners of this company unite and overthrow this management instead of continuing to fall and fall and fall and fall and fall?
Well said. Unfortunately, I agree with everything you said. I stood by my mis-placed faith in this company for way too long. Maybe I'll re-buy after the horrendous drop following the next r/s and MAXM slaughter to get to 1 Billion shares. Maybe my third round of buying in the pennies will be the charm.
lol! spot on!
Good luck with that! Sounds like my point of view on Delcath a few months ago. 25,0000 or so shares which at one point hit 24 cents per share for roughly $6,000. As it went down, I used that theory you are touting.
Those shares now won't buy a happy meal. I'd love for this to turn around as I now have another batch with another broker at an average of 4 cents per share. However, I believe history is going to repeat itself. I was busy this morning and missed the sell-off at the open our I would probably be out. I'll wait a bit for a possible slight bounce, but I believe they nailed the coffin shut with this announcement.
The deadline to implement the RS is April of 2019, I believe. But there is a total lack of trust toward this management. With the recent horrible Enron level decline, there is total distrust in the competence of this management. IF there was a fair amount of trust level, one could argue that they are getting these approvals well in advance of an actual need as a backup plan. I still believe Europe revenue will show an increase in the 4th quarter 2017 financial statements, whenever they are issued. I believe the monthly cash burn rate will be decreasing. This would give longer before there is an actual need to get more funding.
However, I've been burned so horribly bad that I don't trust them at all. I believe that is the majority sentiment. Therefore, an approval will reflect in share price as if it has already happened. Well, we won't get the increased SP due to the RS, but we will get the resulting horrible decline. I expect another horrible decline to start tomorrow, actually. Just asking for it, in my opinion, will bring about all negative reactions as though it was already approved and implemented.
There is a slight caveat, though. I believe this private placement was a done deal for the vote. Here's a deep discount on the share price to vote yes. IF there is a restriction on selling those shares, that locks up half of the current outstanding shares. The white knight from last summer has also returned with his 7 % or so. He was touted as a sure sign of impending price increase last time. lol Apparently, he sold those shares long ago and has now re-bought. There may be some deals in place to limit the bloodbath to an extent, but I sure don't see an increase any time soon.
I hope I am wrong. I have always been wrong on this stock. Maybe I am again.
The best to you as well. I'll have to sleep on an exit strategy myself. Tomorrow will be a bloodbath. So, get out early or ride it out to see if it bounces a little? I've done that so many times with this and only hit jagged rocks at the bottom instead of a trampoline that I may just sell everything as soon as possible. I see no light at the end of this tunnel.
They sealed the votes with the last offering. Don't you think that was part of the negotiations on the half-current trading value price they received? 50 percent discount and we'll vote yes on your proposal to screw shareholders royally.
I say it could easily go to 20 cents per share soon. I'll go out on a limb and make that prediction.
Share price before reverse split - .01 per share
SP after 500 to 1 reverse split - $5 per share
SP after 1 day - $2.25 per share
SP 1 week post next reverse split - 50 cents per share
SP 2 weeks post next reverse split - 20 cents per share
So yes, I predict 20 cents per share soon. 2 weeks after next reverse split.
Rap, I have been on board with Delcath for months. I stretched way further than I should have on my limited funds and went in well over neck deep. I foolishly held through the reverse split. My several grand now won't buy a happy meal.
The only thing I am thankful for is that I only put in a few hundred on this go around. I have denounced folks on a message board for continuously bashing Jenny. I have had faith in this thing because I believe in the product and the growth in Europe.
With this filing, I now don't know who is more stupid. Me for believing in this piss-poor management or the piss-poor management. There is no possible way another shoe could drop that would put this garbage in a good light.
To request a vote on either a reverse split or doubling the outstanding share count would have been extremely detrimental at this point in time. They could have easily waited a while to do that. At a cash burn rate of $1.5 Million per month according to my latest review and several million in the bank account, they are good for several months. Why in the world they would propose either option at this point in time befuddles me.
But, they didn't request a vote on either option. They have requested a vote on BOTH!!!!
Sorry for your impending loss. Been there, done that. Not again with this garbage!