Delcath Systems Inc (DCTH)

[Triceps22]

You're half correct, WarChest.

If they had the votes they would not need to extend the voting deadline.

However, where I think you are incorrect is that a "no" vote automatically means bankruptcy.

A "no" vote could just as easily mean a forced asset sale.

Remember what happened the last time the shareholders voted "no?" The stock ran up about 1800%, not on the speculation of BK, but on the speculation of the company being bought out.

Simpson is at the end of her rope. She can't keep trying to get the shareholders to vote yes. Either she files for BK or she sells the company.

Do you really think there will be zero interest for a company with a proven technology that is approved in Europe and will most likely secure approval in the United States? Even if the company is sold for $100M, that's still an 80% gain from current PPS.