No update from management on reverse split or NASDAQ extension
Voting for Reverse split ended on September 6th and as per Nasdaq Management should be filing a SEC filing about results of reverse split within 4 business days . Many investors have pointed ambiguity in voting deadline so we may expect a result of vote before Thursday Market close
However the delay is a likely hint vote may have failed
Reverse Merger or Buyout a potential way out
Management should have a way out if and when RS is voted down Here are potential options
- Operate from OTC which will limit it's ability to raise capital and extinguish existing debt
- Seek reverse merger on lines of $OPXA and $MSTX with a company eager to public which will lift both the companies and offer a cheaper alternative to private company to go public
- Sell the company in all share deal to bigger players who will be diluting their outstanding shares to fund takeover expenses
Roche looks like most likely buyers as per street rumor
Many blogs and threads are buzz with rumor Roche M&A Team is in New York to make a formal offer . However terms or authenticity of offer is not confirmed. If this is real than shareholders do have a decent exit.
Disclosure: I/we have no positions in any stocks mentioned, but may initiate a long position in DCTH over the next 72 hours.