Genta, Inc (fka GNTAQ)

[fmrick]

Man, where do I start!

Beware of anyone who tells you to buy this stock. It is dead.

Carl said-

It starts off by saying "intendeds" Why not "HAS"? You know no others place is the new's found but on this board. This DIDN'T GO A cross the new's wire.? They needed the price low too get all the bond holders shares in!!!! A Billion shares? GO $GNTA MAYBE $GNTA NO $GNTA.!!!! ROCK ON!!!$$$$$

Carl, the link was posted here to the SEC document. In case you missed it-

http://www.sec.gov/Archives/edgar/data/880643/000143774912007573/genta_8k-080212.htm

dva said-

SAVE GNTA! Buy more shares!!! Sounds crazy, perhaps, but doesn't this company need money?

You really did not say that, did you? Stock Market 101- When you buy shares in a company at the stock market, you are buying them from another investor, not the company itself. So the money goes to the guy who sold them to you, not the company.

dva said-

#1-You can call the SEC and ask for a supervisor. You will get through and you can do a complaint (formal) right over the phone.
#2-This thing might not be dead yet. There is so much legal going on over here.
#3-Can anyone verify all the BS from the last press releases, if any of it is true?

Best thing posted yet. Even if the China news was true, they should not have put out a press release the day before they announced they were going to declare bankruptcy. I think this will be the nail in the coffin.

But as I posted above, this is over. The Chapter 7 filing really does not matter. It can go two ways.

1. The judge decides to liquidate the company. In that case they will auction off the assets and pay the people owed money. And who would that be? The finance people. Oh, and who might that be? We all know. So at the sale, guess who is going to buy assets? We all know that as well.

Or

2. The judge refuses to liquidate. Then the finance people foreclose on the assets of the company, per the agreement they made when they gave the company money. They get the assets. And again, we know who the finance people are. Same bunch of clowns.

This is where the court could step in. If the courts realize that the company keep issuing stock to themselves, disguised as the finance people, just to lure in investors to buy the stock they were issuing, the court can refer it to the Justice Department.

The company will argue that they just got in over their heads. The debt burden got too great, the stock price fell too far below the conversion price, and they could not find enough new investors to keep buying the stock.

There is no one yet to argue for the common stock holders. I did say yet. If you own a lot of shares you need to start calling some of the attorneys out there that handle stock hold class action law suits. They could argue in court, and back it up with the actions of the company, that this was a scam to defraud the public all along. They might convince the court to refuse to sell the assets (the drug rights) to anyone connected to the finance people or the company (they are one and the same anyway). Then any recovery would go to the rest of the shareholders. I really don't think that there are that many REAL shares holders. Remember, the bulk of the 6 billion is owned by the finance people. So if the rights to the drugs are sold for 5 million, you might actually get a few dollars thrown your way. Really, yea a slim chance, but it is still a chance. The attorneys would get a lot, but you might get something. Right now you only have a tax deduction that can off-set other gains.

But these people have not proven to be geniuses in the past. The China press release was the best FU I've ever seen. They knew what was coming and sucked in a few new investors to fill the pockets of the finance people ONE LAST TIME. If that does not show intent, I don't know what does.

But that is not the only mistake they have made. Remember the off-shore investment companies a few months back? Who'd want to bet that a lot of money has not been funneled there in the past couple months?

But my question is this- Has anything they said been true?

If you want to fight this you have to SCREAM to the courts, to the SEC and to FINRA that an investigation MUST be done. They have to go after the people who set this up. The warning signs have been there all along. The only question now is there any way to keep them from getting control of the drugs and doing this again?

I'll be watching. This is going to something that a book could be wrote about. "How not to invest in the stock market- The Genta example"