Pretty much, maybe HB or Ayrton Captial did them in on purpose ever thought of that? Management got suckered into taking that 35 million convertible deal last year, and then the institutions took full advantage of the market and crash the SP so hard so they could benefit from all the action of the up and downs raking in potentially hundreds of millions. These funds have been fined by SEC before for taking the offering then short the stock after. 3$ to 0.02 is a big deal ok.
Last June a run to 0.36 made many millions no doubt on both short and long. That's what I think happened. The true masterminds are the institutions hedge funds playing this company.
And guess what, they hold the debt in hand and yet again trying to take advantage of the desperation of this management by proposing terms to amend the convertible on the conditions that RS pass and they get 40 million warrants at below market price with a 1$ floor. Big dollars to them again. I see through this kind of stuff and it happens all too often if a company management is not careful.
The funds are the ones screwing Delcath and the shareholders. They hold millions of share if BO were forced and guess what they make big dollars once again.
Either RS or no, the funds win. These guys are some times referred to as loan sharks for a reason. It's the ugly side of the business world. No matter how things turns out the funds win even in a BK scenario, they take the asset and sell. Zero loses for the funds and zero risks.
Management made a costly mistake and it may cost their jobs and the loses of the long term shareholders as well as valuable technology.
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