Delcath Systems Inc (DCTH)

[Looking4BIGcash]

Some quick things for the Board to think about that I have not seen come up:

1) Tax loss benefit. If a mature pharma is looking to acquire DCTH, there is value in the sizeable losses the company has racked up (reduce taxes payable on other products or future gains here).

2) Bankruptcy doesn't make sense. It's a big deal for a CEO. Usually, they can no longer serve as an executive.. at any company. And why would they? They just got rid of their liabilities.

3) Why did they get rid of their liabilities? I speculate they are prepping for a sale. Firstly it should remove any covenants in place that could kill a deal. Secondly, I expect people in the know have picked up sizeable positions out of the millions of shares dumped to payout the Lenders. Dumping shares allowed those in the know to build low cost positions and gain larger exposure to a run up on FDA approval, buyout spec, etc.

4) Who took up all these dumped shares? Do you think retail had the appetite to absorb the over $10MM pumped out in shares? Especially after the scary 350-1 RS? I doubt that. Most retail already got played here. No powder or too burned to buy more.

5) Fraud? Sorry, nothing here looks like fraud. Shareholders might not like the fact they lost a ton of money but equity shares are worth only what the open market values them at. The company used this fact to their advantage.

I still think this is highly speculative and anything can happen but worth establishing a position.