Delcath Systems Inc (DCTH)

[Tekterra]

It is true the CEO does not currently own much of the company. However, these guys are opening themselves to a whole lot of lawsuits.

The reason is they have been presenting the public this image that Chemosat was an effective treatment based on all their documentations and press release. Company presentation have been projecting the market being in the 2-8 billion.

Now, after such a disastrous financing with the 35 million convertible debt last year, SP crashed from 3$ in lat 2016 to 0.02 in matter of months. If they file BK now, it's complete negligence of fiduciary duty to the shareholders.

Simpson probably go down in history as the worst CEO ever. The CEO, the boards all of them are looking at major lawsuits here. It means the end of careers.

15 million debt isn't impossible to refinance even if RS is a no. They should have no issue getting help if their asset was what they had presented to the public. So, if the company lied again about Chemosat, it's prison time.

This isn't something they can just bring down the ship with them that easily. I am not saying BK won't happen, but I am pointing out there are a lot at stake here for them to even think about BK.