Company didn't close the deal as anticipated.
Stock plunged and is now probably in free fall, 10c may hold.

They didn't give proper reason for the delay and removed any anticipated target date for closing the financing.
Further company emphasized alternative financing, which naturally usually happens at a lower stock sales price.

Well, maybe another shot in a few weeks - who knows.

Status of Company and this board @ ihub

I just cross posted my stockhouse.com post here re Mr. Rigg's ownership.

Further more, company still anticipates closing of the financing @ 50% over the 20 day VWMA (volume weighted moving average) from Milost. Their price tag would be above C$0.23 now.
This might be contingent to company closing certain new contracts, hence the delay - i.e. it was expected to happen until end of January.
See company's last shareholder letter

I may post some update's here from time to time, but there seems to be little interest on this platform.

Bottom line is that stockprice is expected to reach the C$0.23 level as a new floor and continues its recovery.
In the end, even Mr. Riggs shall make is average at around C$0.55 - C$0.62 and profits.

Good luck.

Rory Riggs Total: C$0.55 - C$0.62 Average

Following some of your guys DD here, it looks like
Rory Riggs is the Elephant in the Lab?

- Crunchbase https://www.crunchbase.com/person/rory-riggs
- Bloomberg https://www.bloomberg.com/research/stocks/private/person.asp?personId=164544&privcapId=172287796

He was even mentioned in that Fortune article? Can't find it right now.

Now I thought it might be a good idea to track his investment.
I used the SEDI database and pasted his common shares into my spreadsheet,
resulting in

- 9.1M shares @ C$0.6164/sh for C$5.62M
- 0.6M Warrants @ C$0.50/sh
- 1.38M Options @ C$0.1516/sh

Quite impressive.

Now let's see how well this correlated with Milost's probable first stake around C$0.23/sh based on current 20d VWMA.
Excellent I would say.

Note that usually only insiders and long term investors get those sweetheart deals,
you can't buy that much ATM anyways without the price going through the roof.

Sounds good too me, especially since he has increased his stake
lately by converting his Notes into common shares
plus recently new promissory notes @ USD $1 conversion price.

2nd day tape showing 95% buys, slapping the ask.
Bids below getting quite crowded.

Seems like the selling pressure resided and reversal is in play.
Needs a bit more volume here.

Warrants Done & Financing 200% Premium 10c -> 30c

Warrants Incentive Program @ 20c should have be done on 8/31.

The Milost Financing initial draw being kicked off until 20 biz days since 6/29 -> 7/28. Now we are 27 sessions thereafter.
121d after issuance of the Notes (1st drawdown) the stock shall reach the 200% premium for conversion?
I am a bit puzzled, so 30c is the target price from here?

Company needs to send an update for sure.

A sign of life in the last 3 trading days, good.

Seems like 4M Warrants have already been exercised .. of a maximum of 6M Warrants in the last days, from 87.93M to 91.92M.

Then we have the new financing via 5% interest notes, which has quite a low interest rate.
Note that companies under distress usually only get a 10% or over interest rate for a notes exchange.
Further more, the notes may also be exchanged for a 200% and later 50% premium of a 5 day VWAP post draw down.
This is also a quite positive attitude, emphasizing that the current trading price is too low.

Today stock bounced on the 8 day EMA and 20 day MA, while having had a pullback from the spike 2 days ago. Quite healthy. Should continue its uptrend in the next days to complete the Warrant exchange and foremost to achieve a highest possible conversion price!

copied from stockhouse:

Stock price lost like 3x -20% the dilution 7%,
probably anticipating ongoing OS increase - of course, OS:

- 2016-03-31 58.47M
- 2016-12-31 81.66M
- 2017-03-31 87.93M

mcap
- 2016-03-31 $10.23M @ $0.175/sh - $14.62M @ $0.25/sh
- 2016-12-29 $24.49M @ $0.300/sh
- 2017-05-12 $20.66M @ $0.235/sh

Revenue is only about $1M per anno at a loss,
hence P/S 10 - 25 is given here, quite biggly.

A P/S 4 would lead to $4M mcap -> $0.045/sh only.

AFAIK company needs to hurry up big time to preserve the dream
of a big growth biotech - NOW.
Evaluations are surely overstretched at this point,
where our high expectations were disapointed.

JMO

reversal not confirmed yet, quite boring trading days.
At least the 0.30'ish bottom has held.

support re-tested, reversal candle,
see https://www.tradingview.com/x/bNcIJKll/

(post copied & merged from other board, johnny007 @ stockhouse.com, thank you)

My chart is shown as linked above, RT market data via tradeview and the only cross down, aka dead cross, I can see is on 4/24 50ma x 20ma, not the golden 200ma Sir!
Sure, that was bad, hence we are back at the channel bottom.

I propose nothing to anybody here, just inform you that I see a reversal play going on right now,
since this is the usual channel trading. If you use charts, well - then you should know.

Fundamentally the company's balance sheet is of course quite weak and this is only played due to anticipation that their liquid biopsy testing receives more insurance contracts and/or a buyout.
But hey, 4Q16 was even profitable .. a little bit, that was a great sign of execution, besides the liquidity issues they had. I do expect a great turnaround in 2017.

On another positive note, .30 held today and it does prove support. Especially that over 100k trade, as you like watching the tape.
Yes, it is too early to read the indicators and I play this merely on it's strong support range .29 - .31 for the channel surfing and maybe even good news on the way up.

Further, I have marked 3 occasions in the chart w/ same daily candlestick and the last one had a short 50ma x 20ma 'dead' cross as well, those don't last long w/ this stock's trade. Price and channel bound.

With this .30'ish support we should at least expect a 200ma snap-back, happens quite often. I trade this not only for the bounce, but in the hope that we receive that insurance deal update as anticipated on the way up .. we will see.

Thank You, E*TRADE doesn't recognize GEN as GeneNews Ltd. I appreciate you're response. GLTY

TSX:GEN, aka GEN on Toronto Stock Exchange as mentioned in the header of this board.

What is the trade symbol for this stock, Please Sir?

Welcome to the GeneNews board.
I was missing an opportunity to discuss this company w/o bashing et al., so I simply created this board.

As we go, news and fundamentals will be added.

Today it almost touched down on its channel low of CAD 0.29, i.e. CAD 0.295. The low is its typical support line.

After issuing the ER, company is expected to release material news about insurance coverage, which hasn't been done yet.

Looking forward to a fruitful discussion.