Knock, as much as I want to see Cytr remain listed. However, Cytrx has no say in continual listing. It's up to NASDAQ ok. Keep that in mind. One of the requirement was to have majority of independent directors and continual nomination of independent directors by existing independent directors. They are down by two independent directors, and that's another area they aren't in compliance. The one 1$ bid of course is another. If they ask for continual listing, they could use the reasoning that they will replace the directors in time, and the deal will generate value to go over 1$. But, again that's NASDAQ's call not anyone else.
As to why keep issuing cheap shares and cheap warrants could be numerous reasons. Being able to award cheap options to themselves is one. Other financial groups profit from it is another. Who's to say K related or associates aren't making money off of him or even pay him under the table? Business men don't do business alone.
You can bet the reason with this sell off is that delisting is likely and no one can really say they won't. As far as K is concerned, I don't think it matters to him. If he gets removed, we owe him 7 million. If he continue, his 6 million shares will still worth a lot down the road. Either way, we retails are at a disadvantage. Therefore, it is my belief new management is must for this company to start building long term value and return for the share holders.
The way they are spending money there is no guaranty he won't dilute again even if we don't delist. So it is clear this is a no hold but a short play. Take profit on any pop.
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