How do I save this philaenopsis

[Arlevy]

Hi,
So I got this 6 leaves Phalaenopsis orchid from my mother in law.
All the roots (part from baby roots with black spots that I thought I could save) and the stem they connected to was rotting.
I sterilized a pair of scissors and removed the roots, left the stem and spray the heck out of it with hydrogen peroxide 3%.
Dry and repotted it on top of some bark.
In the next 2 days things got worse, the bottom leaves started to yellow and just fell when I touched them. There base was mushy.
Again, hydrogen par oxide 3% -> let dry -> back to the pot.
After a day the bottom leaf was start to yellow from the bottom. I thought that the rotted stem was the source of all evil. It was black and smelly.
Did some research and came into conclusions that all the blackness must go.
Sterilized my scissors and CHOP CHOP!
Again, hydrogen peroxide 3%, left to dry.
I have a rootless 2 leaved.
I really hope I did a good thing by chopping it out.
Don’t know how to proceed?
Do you think It have a hope?

Please help!

FYI, I left it in a glass cup with no water to so all the open cuts will dry.