What do you make of the 10QSB, particularly the part that mentions the 4/01/2004 letter from the NASDAQ that deals with the failure of DCTH to meet the alternative criteria for listing. DCTH has an extension until 5/17/04 to comply. Anybody think this is connected to the need for 70 million authorized shares?
Our unaudited balance sheet as ofMarch 31, 2004 included in this Report shows stockholders equity of $4.3 million(which amount does not include the proceeds of the private placements we closedin April). Based on the foregoing, we believe we have regained compliance withthe stockholders' equity requirement of the Rule.
This the exact reason for the increase in shares, as this was mentioned as the reason in the proxy report.
I would say that this is little concern. If you are in DCTH you know the risk of being in a micro-cap issue. They have to deal with these things from Nasdaq all the time. It is not a reflection on the company persa...