Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Unless they release results while trading and if it RS is turned down than yes if not EOD release there still will be selling because PPl not sure or indecsive. Since meeting is at 2:30 we are looking at a after market release or not until Monday. Or they decide to cancel once again like they did last time. Highly doubt it though they run out of financing as of June.
LOL so would I navy take .75 cents right now and where are your kicking little dudes that you have. I so miss the little insigna you have.:)
Frmick you forget their is still noteholders for the 6 million they just borrowed this RS is to of course decrease shares to up to 1/100 and to get the other half of the financing. Even though say hypothecially as you say no noteholders left the PPS would have moved up a bit as there would be no noteholders to dilute it. Even though they do have a huge share float which the RS would not make sense anyway they would float the other 6 million on top of the 6 million they still owe unless they paid that off first still there would be a noteholder for the other half and genta would still need financing for the rest of the way to approval which would float another so many shares into the float leaving the shareholders in the same position the only difference is that float is going to get way bigger than the one we have now and the dilution will begin the mintue the PPS rises to a certain price and that would plummet genta to a worse price than what we have now. Genta put up their assets to the CD holders and only the CD holders can default on them into BK if they so choose to and get back what they are owed with interest if there is any.
Genta already stated without the approval of the RS they would default so there must still be noteholders not neccasarily just Ray and his wife, as genta states the CD'holders made an agreement before getting the 6 million they would have to implent a reverse split. If Ray and his wife say defaults on themselves would be sheer lunancy for them when the drug is making progress. That would set back the drug itself as I see it even if they open a shell company as the drug is either under patent by genta or the company itself? Just my view only.
LOL bio whatever you are on Stocky share please make sure only the good stuff...:)
I agree sash. Your post is very good it really isn't negative it points out fact blank the poistion genta is in and there is really no beating around the bush. I do agree with John too that it would be better off no RS either it has reduced the stock to subpenny land and has never recovered since then.
Green so am I.:( Markets were horrible today on the market news everything took a tumble. Geez the MM's were brutal today.
Nope otherwise they would not need this proxy vote.
105 days from the date of April 1 though I don't know if they ammended that part since the proxy vote was moved. I do not think they will wait that long. I feel if they voted RS they will just do it right away depending on the ratio of the vote. If board chooses the ratio of reverse to be 1/25 or 1/50 they do not need shareholders approval if more they will need to ask shareholders again. It is like running around in circles. Except the underling thing is the vote is for 1/2 up to 1/100 if you don't read inbetween the lines then if voted yest upon you just gave power to the board to go for the highest 1/100. This reverse split will sink genta until the fall and if they increase more shares after again be sure that even if they get FDA approval or EMA approval the stock would have sunk so low it cannot get back up again no matter if the drug is approved because genta would be drowned in so many shares it would take major investors to help them back out. One look at their share structure would scare anyone away from this stock no matter how good the pipeline.
Shulu it's always the same story increase shares to dilute to get financing and then when you cannot increase more shares beacause they have to many shares outstanding use a RS to decrease shares and then again if you need financing increase shares to get the financing which knocks out the RS. In turn your shares becomes worthless if diluted enough and then the stock goes down and plummets. Over and over again until the PPS falls to the lowest it can get .0001 and to move that PPS would take billions of shares to be sold to even eke it up...Anyone who decides to even think of saying yes to a RS would have to consider exactly what will happen to their shares and the illiquidity of the stock would make it higly impossible to get your investment out unless you market them for a loss. I know I am out if RS happens and just will keep Genta on a watchlist that is about it until the fall or until they can get their act together.
Sorry hoop no way I would vote that. All or nothing in this case RS will kill this stock. Genta can cry wolf so many times on shareholders back this time they will have to find a way out otherwise you wouldn't leave such an important vote to the last wire. No RS has ever done a shareholder any good but a lose their investment. The way genta has mismanaged their company proves they cannot do what is in the best interest of either the company or the shareholders. RS comes you will see the stock slide to no end they can't even keep it above water of .01 cent. Tells me if RS is voted this thing won't hit the ground running on any chance PPL will jump ship. If the RS is thumbed down the stock will at least have a chance. BK or default which I think neither would happen and this is a big try to bleed more money out of investors instead game. I put in all my votes a a fat NO. They do an RS I am out I have watched stocks do RS and not one stock recovered and brought my shares to be used as worthless toilet paper. INMHO
Learner how come I only got to vote one time. I wondered about that on line I got only to vote the one time. How do you vote all your shares? Or is the one vote for all the shares you own?
Sounds like intersting deduction fmrick. I have watched genta trade from morning till EOD wondering the same thing myself. Huge trades but those days we were mostly down and the PPS was wildly flucating. I cannot say for sure only because I am not versed in that area. I could ask my husband and my charted account friend to see if that is the case. It sounds quite logical though in my view only.
Yes if the CD holders demand payment in full including whatever interest they have to pay on top of that. Not likely the CD holders will put them in default because they will lose in the end with profit if they do it is not in there best interest to default Genta. One because of the near approval of the drug, two going through the procedure of the BK procceeding can be a headache, 3 Genta would have to take time to sell the assets to cover what they owe to the CD holders to some other biotech company. CD holders are greedy and know better to feed off the dilution of the stock instead or have to wait for their money. The CD holders are in a win win situation. Not only do they own of all Genta's assets including the drugs and all that Genta put up as colleteral to get the financing they own the stock too using and manipulating it to their will for profit.
If the CD holders were smart let Genta off the hook of default and rearrange different financing even if Genta and wait for the drug to be approved and marketed. Everyone will win instead. Even if genta goes BK the drug and the stock can be passed to the new owner. The new owner can decide to transfer all shareholders of the stock to a new stock, buy them out or dissolve the stock itself.
Kids sometimes understand concepts better than some adults...LOL Every article I read on RS had nothing good to say about it and most if not all companies to not recover from it. All it really is a ploy to float more shares onto the market for their financing purposes and smaller companies use this ploy often when they need more most of anything the toxic financing which leads to the death spiral in companies. Genta has used it to many times and in turn makes a shareholders investment worthless if diluted too many times. The term RS is recycle the dilution, renew the financing, and then reuse the shares. Companies who do need financing will do this often instead of paying monthly like we do a mortage or car they offer shares instead as a I.O.U to a CD. Giving almost virtual power to a CD holder to do as they will with a stock under their terms they give to the company. Sooner or later the company does so much financing in the end the CD holder will own the stock and all the assets the company puts up if they don't pay back the debt or at least lower the debt by buying back shares depending on the terms the company will sign for when getting this type of financing.
I don't want to say to others to decide what they should do with the proxy vote only because it is their right as a shareholder to vote how they see the company and where it stands. I just hope everyone understands what they face it they say yes to a proxy vote and what damage it may cause to their investment and not to let the fact of the drug itself cloud their judgement on how to vote from here until the drug is approved. INMHO no RS is probably best for this company if you dig deep enough in business's on how a company works for me lucky I have friend as chartered account and my husband is BA in economics and business can help me understand companies situations. Otherwise PPL can easily punch or google in the right words to understand what is going on and what is good and what is bad and what other choices the company may take even if they default or BK and what happens in those type of situations can weigh out their investment options from there.
That is why a RS would be a stupid move for Genta. Bad enough their financing is toxic too add upon a RS for more toxic financing would sink them before approval by raising their price with an RS would not help them gain investors or intice them because big investors know about their troubled history the only was for them to consider them is exactly that get the drug approved and the big investors will seriously look at Genta's potential then. The drug at this state is not enough to make a dent in the decisions of the big investors even though it may be in the last phases of trials because of the rejections of the drug itself over the past few years from the FDA and the constant delays of how genta presented this drug.
Genta is a rock and hard place and they know it and that they had hoped to do this RS to get more financing to make it to approval and hopefully intice big investors to pump in money by the use of the price when the RS was voted on but Genta is the one to prove that they are worthy to pump money into and the drug is not the only thing that investors will look at but the company and how it is managed itself. The drug is viable and a big "IF" for approval. So genta has to prove until then they can profit from other revenues and keep the company in the black until then and get their books into order.
I agree they don't own most of the company by the looks of the insider trading on reuters. It is the shareholders who own most of the company by probaby a high percent. I think PPl who have been longs know the games of Genta. I think Genta was counting on new invstors not knowing and being the bigger vote. They forget it is not hard to go to bullboards like this one or even punch information to inform investors the ins and outs of a company. I am sure since the econom downturn PPl are a lot more careful in investing their money and most are taking profits when they can.
Sorry I meant public with their shares of that company of to raise money makes them open to takeovers, shareholders votes etc. That is depending on who owns most of the company Genta or the shareholders. 100% of the company is never owned by the company when they go public unless Genta is the one who buys back the shares on the market to keep a higher percentage than the shareholder investor.
Matty they cannot do RS otherwise would have done so by now without asking for approval. If they didn't need approval they would just file an RS and just let shareholders know they did it as their fudiciary responsiblilty to the shareholders under the SEC rules and wouldn't bother to ask shareholders for a proxy vote, what I have seen of these penny stocks they can increase shares of a float without having to ask shareholders to what ever their market cap will allow them but RS is different. Probably because the shareholders own most of the share percentage of the company. Any company that goes private with their shares and if the shareholders even hold one percent more than the company and the board of directors combined may vote against whatever choice makes in that company when it comes to RS, stock splits or shareholders plans etc and will be seeked for approval from shareholders.
If one of the MM knocked out nite sooner this would have passed the .01 mark. NITE is scary they literally always top dog on the list. If the buyers pressure was higher it would have knocked NITE down.
Go with the gut if that is what you feel Stock. Sometimes gut feelings are a good indicator when it comes from deep down inside and it tingles.:) Google boards and Yahoo getting vicious this is the only board that has some sense of decent talk on a PPl to PPl basis. And here we go Power Hour.
MM's waiting to EOD trading. MM today is like watching paint dry consdering markets news is picking up for all catergories and industries and yet MM"s aren't moving any stock further then see sawing for a small percentage gain. I think if we are lucky if buying a bit heavier then sell at EOD genta might land at .01. for start of next week.
I hope not it is not in the best intrests of the shareholders nor for the company. Let genta chew on the fact they will need to go to Plan B or Plan C to get around the fact there is no way shareholders are taking this beating of their investments. I know everyone's right to vote the way they want to in their judgement of the situation that genta is in but INMHO and view only anyone who does vote yes on the RS is somewhat mislead and have no clue what they will be up against. I don't know how many PPl voted yet but I would have to say a majority of them voted NO.
You can check on OTCB delayed though where the MM's are sitting on level 2. Finally recieved my proxy vote today in the mail. Phew talk about babbling and wasting paper I got a novel package full of what Genta already states on the SEC filings. Well voted and it was against the R/S.
Stock with genta there are alot of things dilution for one thing plays a big part. CD's being converted under what terms of GNTA could drop the stock. Institutional owners and insiders, retail investors taking profit, shorters covering postions there are many factors to consider when a stock drops the way it does. Nobody really knows and could only speculate on why the stock does what it does. Traders will judge a stock by either what they hear in PR's and how they judge the news, some look at charts and decide from there or they go with what is going on the markets that day. Just trade the stock and use your own judgement. I was not here in December and cannot say for sure but like I said a lot of factors considering genta's history and stock history.
I understand what you are saying JRW. It does suck right now the postion genta is in with a viable product and the constant tug of war with the FDA makes it harder. It is PPl's money and I understand they want an opinion on what they should do but sometimes PPl who would give the opinion would have ulterior motives that may not benifit that other person but themselves if worded as a yes you should hold on or yes you should sell just and example. Sometimes the best response is to let that person judge for themselves and have them do their own DD to what is best for their investments. Bullboards can be okay to listen to other PPL's outlook on a stock but not good for making trading decisions.
Yahoo is vile and vicious as a bullboard. PPl have common interest in GNTA because they too have money invested. Support of information is your own reasearch in the stock and what it has to offer is why PPl should be trading the stock not on opinions of others. Yes you are correct nobody is here to baby sit and hand hold other stock traders because it is their responsibility to know what they are getting into to in the first place. No it doesn't hurt to ask for an opinion but opinons are just that but PPl should not take it as gospel and make their own judgements of what they hear.
Genta would be best to clear a lot of rumours and speculation and get their house in order and stop running this stock on fuel of pretty much speculation. They need to really get their act and managment together to get this drug on the market and approved. We all hope for the best for genta.
Not heavily stock. I own 200,000 shares of it. I make it a point when investing to choose a round number of shares to invest in . I am in profit with genta since I have had it go it at .0069. I try only to invest in lower amounts in subpenny land. I have two stock right now that I invested in the millions and they are getting burned and now have to hold onto them. I made a judgement then only to invest about 100,000 shares or like I did genta 200,000 when it comes to these type of penny stocks, because of the liquidity of the stock makes it harder to pull back your investment out in the million shares without having to split the amount up or use a stop loss order. Not greedy so happy even if genta makes me in a few thousands I can take that to invest the next stock I may be interested in.
That's the name of the game on high risk penny stocks like this one. We shall see what happens and hopefully it is in the best intrest of the drug and the shareholders.
Stock asked if he should or should not sell. I replied he should look at all pros and cons and decide what was best for the investment being in the position Genta is at right now. Basically you are you own judge on whether to run the risk of staying and losing or staying and winning on your investment with all that is going on with Genta. Either PPl will run away screaming on the stock or the stock will make PPl really happy with their investments. That is up to the investor to decide what risk they want to take and how far the investor is willing to go.
YW Stock. It is just a matter of just like chuck says what are you willing to gamble with all around what you know about the stock. Genta either has to put everything on the table to survive even if they don't get the RS from the shareholders and figure a different way out or stand to lose everything or figure out something better as plan B. Call genta's bluff or fold your cards a game of poker.
The only reason I said that is because you do need to make your own judgements on the situation of the stock and do your DD on what the pros and cons are. Weigh out what you think you should or should not sell and why. PPL can give opinions but doesn't mean they are right or wrong. It is truly up to you what you feel is best for your investment.
We know genta is in trouble, can they even make it to approval- Con
We know genta wants a reverse split without it they claim all whack load of what and what will happen if it is true or not no one knows for sure- Con
Genta has a good pipeline and a few in last phase of approval either FDA or EMA slated for the fall of 2009-Pro
Genta has whack loads of dilution and toxic fianancing and might have to resort to it again even after R/S-Con
Genta Managment sucks they are doctors and researchers not wall street business men and can't seem to get their act together- Con
Will Genta have a merger, partner buy-out and the threaten or claim of BK etc- Rumors and Speculation
Question is are you willing to play and gamble is up to you don't lose what you cannot afford to lose. If I missed anything please feel free to add on.
That is your decision to make and no one elses. It's your money.
That's too bad gary.:( Well hopefully we see no RS and it is like a win for you gary in a small way. By the way they said about these lawsuits some of the stock money was going to pay some of the ones they lost. Right now I don't know who is playing more of this chicken game the shareholders or genta. This is going to be a long week. I know it was for me since the markets took such a drastic downturn amid all the news lately. Well we shall see if Genta can hold water above .01 cent for EOD week trading.
Calm before the storm nutriman. I suspect it is going to be a seesaw from a small percentage gain until the proxy vote. I think PPl after the filing are getting an impression that genta may not have much choices left to them and that an RS is not an option. The other options aren't that bad it forces genta's hand. My view only of what I see of the trading. I am assuming there is still dilution going on but not as much as before. MM's still taking but slowing down a bit the closer we get to that proxy vote I think PPl will be jumping in a bit and the weak hands will sell if jumpy and nervous. If the RS is thumbed down the stock will take a nice jump INMHO. I want to see what Genta is going to do and hopefully it is not to dilute anymore shares unto the market because I think they are maxed out is why they needed that RS. The only worry I had was that they would do it and not need shareholders vote to release more shares but I don't think they can do it by the market cap. It should be interting to watch it trade for the next week counting the days to see what PPl will do and what genta will do.
I agree what sash said this filing is more in prepration for default or Bk or whatever they have in mind. It is like scaring shareholders into thinking they need this R/S to survive. The filing wasn't even filled with one note of good to it makes me wonder who they were trying to scare. This stock would probably jump on the news of no R/S for a while until some other news broke as to what genta would do in the mean time. It spiked into the .0225 section when the R/S was cancelled then dropped when it was re-instated at the later date. Fully hoping the R/S goes thumbs down and we will see what genta does then.
It is what I want to hear is no R/S and they will have to reconsider their options again. Ray will either break or come up with different financing without an R/S. One more week to go and he cannot make the share holders vote for the R/S because the shareholders aren't falling for the BS flying from his mouth. He can't seem to afford to buy back shares but has no problem raising salaries, hiring staff and paying for legal fees. When his company is drowning along with the shareholders. Not a good thing to fly in the face of shareholders he is just pissing them off even more.
Even if they default it doesn't matter it is up to the CD holders to demand they be paid in full. Let them default I highly doubt the CD holders will force that issue they would have more to lose. The R/S is just a way for them to dilute more into the float afterwards. You are right David they cannot have their cake and eat it too not on the backs of the shareholders. It is best for them to either sell or partner up Ray hand over the reins to some other company who will run the drug to approval. I highly doubt the BK they have been saying that so many times yet still no BK. Notably their volume has slowed down and the PPS was a lot more stabler then when the volume was tremendous and genta always landed in the red at the end of the day.
I see the shareholders in a better situation with their investment if genta defaults and turns down the R/S. It may be better than what we are facing now with this stock. The MM's already maniplating and causing havoc anyway so why make it worse by doing a R/S. Ray's greed will be his down fall and the shareholders aren't going to go his way. I want to know what his plan B is after the meeting. I too sash am thinking about selling out my shares and maybe get back in later after the R/S genta doesn't seem to be improving if anything getting worse in their judgements.
Sash I almost fell asleep reading it. Not one ounce of good news this time at least they were smart to not voice the claims they made on the drug that put them in hot water lawsuits mentioned there. Was genta thinking shareholders would fall again for the R/S ploy then they aren't really smart are they considering their last failures of other R/S's. BK may not be as bad so many companies have pulled out better from BK with a cleaner slate then before going into BK. Looking at the past companies that have done it GM, Nortel etc their stocks still ran for awhile and they are not doing too badly.
Eddie Bauer sorry getting off topic here just filed BK and now offering in the millions for their company today I think in the 200 million dollar range. So a transfer of ownership or sell off assets of genta may not be a bad case. Maybe putting it in the hands of another biotech company can run the drug to approval better than genta can. Looking at the cost of the clinical trials and their overhead there was no way the other half of financing would have last them. Noticing also the fact that they would pull more shares unto the market anyway after the R/S to get them there. A lot of talk of how the stock was going to be volitile and plummeting stock price etc. I too sash think genta will not get the shares they need for the R/S and they know it.
Well if you treat your shareholders they way genta did over the years of this drug ups and downs they were bound to get a bite back from the shareholders. Sash and you are correct it is sad.
Then why would they continue with the R/S next Friday that is not off the table. This is the longest SEC I have read and finally got it to show it was not showable there for awhile. I thought it to be awful and exactly what I thought they would do. There is lots of talk of default and BK and what will happen and lots of dilution term thrown in there for good measure and increase of shares without a vote from shareholders. Blank lines with no amounts shown. It did not sound encouraging. June is almost come and now will be gone in a couple more weeks. I don't see them changing proxy vote date nor have they taken the R/S away. So I don't see anywhere that they are getting financing unless they do the proxy vote.
Correct the shareholders own more of the company than the board such they need approval from the shareholders. To protect the investors of wrong doing and their investments. I don't know about the US but Canada they must and will ask shareholders on a vote of splits of any kind if the shareholders outweigh the share in the company. Example a company that goes public on stock and out of 100% shareholders who own even 51% over the board who may own only 50% must ask for approval.
Looks like shareholders holds genta in a grip because since they went public that means the retail or any other investor own more of the company then genta does. They just screwed themselves over because now since the date was extended from the original vote more shareholders got on the band wagon to vote against them. Genta didn't think shareholders would take such a thing lying down since genta's history shows all. I am going to put a complaint through too if every one does SEC must investigate and they will halt the stock or suspend it until then. That should bust MM's tomatoes and genta's real motives behind such tactics. They will continue to delay until they get their way and obviously it has not a stitch to do with financing as they say it does other wise this would not be delayed so long.
I am sorry to hear that gary it is shame considering I pulled up on genta at least 5 lawsuits. Genta won only one. It was pretty much close to the same lines pertaining to the drug and one pertaining to the way Genta screwed with the stock. I hope you win I know not much of a consalation on the fact the stock has been reduced to nothing. I wish you luck gary for a win against them. Genta needs to stop plucking their hands in the cookie jar.