Delcath Systems Inc (DCTH)

[Tekterra]

Juan, the company made one huge mistake last year and that's taking out the 35 million selling convertible notes.

They burned through 23 million of that convertible in one year time and basically maxed shares authorized. So that's a gigantic dilution in short period of time crashing SP hard.

Damage is done and they have no way to repair that but an RS. But, we knew that's just going to result in massive dilution again. So they need to find another means for funding.

We're maxed on shares authorized but they might still be able to sell more preferred shares or use up whatever left of the authorized common shares. But they would need new investors to buy.