JMMA, very good post in my view. And, contributing your experiences with Delcath in a responsible manner is the best thing you can do to keep others from falling into the same situation you find yourself in today.
You do have to keep in mind that many of the posters here are "traders" flipping for a few pennies and not true "longs" or "bulls" as they claim to be.
After being invested for over 2 years now I am not holding out much hope for a reversal in Delcath especially since they have missed the filing deadline and are now subject to a variety of costly penalties, including deregistration by the SEC, delisting to the "Grey" market by the OTC and most importantly, the inability to raise capital through issuance of public securities, and potential debt covenant violations.
As Delcath failed to file for an extension, they are not eligible to issue securities using Form S-3 until they have filed in a timely manner for at least 12 months according to current rules. This in itself will severely limit their abilty to raise the capital they need to continue as a going concern.
So, unless they have a "white knight" in their pocket with a lot of cash on hand or some other "magic trick" up their sleeve, I would be expecting to see a filing for bankruptcy in the very near future.
Trade Safe.
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AI
