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And you're playing an April fools joke as well...only difference is, you've been playing it since CLL denial by pumping this stock to newbies who don't know how to do their own DD and selling into their ignorance.
Well, smitter...
...if they're going to step up and save Genta they'd better hurry up. It's now the second quarter and Genta stated very clearly in their S-1/A they'd be out of money by the end of the 1st quarter. At the time of that press release (early-mid March) they had no additional funding in place.
Our business will suffer if we fail to obtain timely funding.
Our operations to date have required significant cash expenditures. Prior to completion of this offering, we have less than two months operating cash remaining. Our future capital requirements will depend on the results of our research and development activities, preclinical studies and clinical trials, competitive and technological advances, and regulatory activities of the FDA and other regulatory authorities. In order to commercialize our products, seek new product candidates and continue our research and development programs, we will need to raise significant additional funds irrespective of market conditions.
If we are unable to raise additional funds, we will need to do one or more of the following:
• delay, scale back or eliminate some or all of our research and product development programs;
• license third parties to develop and commercialize products or technologies that we would otherwise seek to develop and commercialize ourselves;
• attempt to sell our company;
• cease operations; or
• declare bankruptcy
Presently, with no further financing, we will run out of funds in the first quarter of 2009. We currently do not have any additional financing in place.
People who claimed to be long on GNTA...
...are starting to fall out. They see the writing on the wall without a PR and realize this was running up on pumps.
Be really careful here if you're long, don't let your profits get away from you.
This company needs to release financial news quickly. As far as we know, they're completely out of money as of yesterday.
I endorse this message
I'll be surprised and eat crow if GNTA...
...finishes in the green tomorrow. I saw a green day coming today because there was no sell-off after the reverse split news...gave everyone a little confidence. However, there is still no news driving this stock. It's just people jumping on board without understanding what they're getting in to.
Tomorrow there will be profit taking.
But...profit taking will be negated by a positive financial news release.
Getting driven up on low volume...might be hard to take profits here even if you wanted to.
We really need some financing news from the company.
Anyone who has done DD on this company knows exactly what the situation is as it relates to what the drugs do, the holistic pipeline and critical clinical trial (Agenda).
That doesn't need any explanation at all.
What needs explanation is the financial standing of the company.
They seriously need to address this extremely important issue. How are they go obtain investor confidence when the last PR they released said they'd be out of money as of tomorrow? Who in their right mind would throw their money into this security when the company is telling everyone they're broke?
Genta needs to address the issue, good or bad, for the sake of everyone involved here and on the sidelines. If they're looking to increase their pps, all they need to do is let everyone know in a PR that they have enough money to continue and that the fear they instilled in their last S-1/A released on March 9th about possible bankruptcy is no longer an issue.
This is getting to the point of being unresponsible.
This is common knowledge...
...everyone knows that Oblimersen is an additive to other drugs in the treatment of cancer. I'm not sure why you think you're putting a flag somewhere?
It's also common knowledge that the Agenda is a confirmatory of a prior phase III study. I mean, what's the big "ah ha!" moment here?
It's not about the drugs and what they do, it's about the company and its financing.
It's hilarious how some people here direct traffic...
...on when to buy and when to sell. Something makes me think the traffic directors are taking everyone for all they're worth.
Reverse splits are bad news...
...Genta could end all of this with an update on their financials and their ability to continue. If they have money, they should let everyone know. It's really that simple.
If you can't tell the difference between bashing and the need for updated financial information on the company, then you really need to find another hobby, profitgoal. Just this month the company stated they would run out of money by the end of the 1st quarter of 2009 and we've YET to hear anything on where they currently stand.
I've stated several hundred times that I believe in this company's drug pipeline, but I don't currently believe in its ability to continue with no money.
It's widely known that Genta has never been profitable over the 20 years its been in operation. That's not unusual for a small biotech, but 20 years of failures in the eyes of the FDA (right or wrong) takes its toll on a company's capital and ability to continue.
If you've done any DD on your own, you'll quickly realize that Genta is out of money until they communicate otherwise. As recently as this month they communicated they'd run out of money by the end of the month. Now they're requesting a reverse split.
That's not bashing. That's reality. Learn the difference.
Dr. Pavlick presented the contents of this deck months ago...maybe even years ago. There is a video of her doing this presentation and using a laser pointer during the discussion.
Old presentation that we've reviewed several times, nutriman, but it does show the promise Genasense holds in the treatment of not only melanoma...but other cancer types as well.
Hopefully we'll be able to get to the finish line. It's going to take several million dollars to do it.
Do you have any idea how much time I've invested here? Clearly you're new to the Genta forum and the security in general. I bought this stock at the bottom of bottoms last December and just recently sold my position. I've done hundreds of hours of research, as I'm sure many here can attest.
You're not scaring me one bit with the "You won't be able to buy cheaper" stuff, son. I don't care if I buy cheaper or buy at a higher pps...I just want to buy, period, and I will with news that the company can continue....I don't care if it's at 3 cents or .003 cents.
Give me news on financing...
It's time to lay it out there, Genta. Can you do this or can you not?
I am ready to go in huge here with news that you can continue operations. I'm sure I represent a larger subset of other investors who are also ready that want to believe in the drugs you have in your pipeline. Tell us what we're getting into here...are you broke or are you not?
We are ready to drive this pps through the roof if you'll just let us know it's ok to do so.
You are guessing...I'm not asking for guessing...
...I'm asking for the company to tell me if they do or don't have money to continue. If they don't, that's fine, what are the strategic plans and tactical steps they will take to secure financing? Just lay it out there already.
I don't need some message board poster throwing out guesses as to some divine intervention coming in to play and saving Genta. Give me a break, man. I've been around way too long to buy into that crap.
Genta needs to address the community on its financial situation. Period.
We're discussing the most important component of the company as it relates to EVERYONE who is invested and on the sidelines. Maybe if more people were talking about it, we'd get an answer out of the company and be able to move forward. This should be a conversation centerpiece that EVERYONE here wants to talk about...not ignore and threaten to remove as spam.
That's why it's so frustrating for me, personally. I really want to believe in this company and I want to have a position, but I have to take my emotions out here. There has to be give and take between company and investor. We are at a point in time where investors need something and Genta needs to come up with it.
People call me a basher...I'm not. I've invested countless hours of research into Genta Inc. I just want to hear this company say to the community that they aren't going anywhere and they have enough money to get a shot at a FDA decision on the treatment of melanoma with Genasense. That's still a year out...
Do you have money to get there or do you not?
PLEASE LET US KNOW!
I believe the company could do themselves a world of good...enough to send this stock well over 2 cents, if they would just release some news on their financial situation and let everyone know that they are not going to be diluted and they have financing secured to continue the Agenda Trial end to end. All of this reverse split and everything else should be secondary at this point.
Lay it out there flat and clear to your investment community Genta. Do you or don't you have money to continue?
April 2nd is....
...the day after April Fools Day. Don't be a fool.
Who gets to vote?
Genta Leadership has to know that its shareholders are dying to hear something on their financial situation. If they want their stock price to rise, just let us know they have enough money to continue operations and see the Agenda Trial through end to end. It's really that simple.
The last we heard from the company they said they'd be out of funds by the end of the 1st quarter of 2009.
Just let us know if that's changed, that's all I'm asking for.
I've said 1 million times I'd like to invest in this company because the pipeline is promising and has several late stage drugs.
Why can't they just let us know that they have money and that the whole "run out of money by the 1st quarter 2009" is no longer a concern?
If they released that news, I'd buy a huge position here and everyone calling me a basher would turn 180 degrees.
You know you want me on the team...don't lie. ;)
How so? The more I read, the more comedy I find...I have to respond! It's funny! I mean seriously, some of these posts are very funny.
You're telling me that someone saying a stock is going to "Explooode!!!" after a reverse split announcement isn't funny? You know it is.
Further, I wish the company would release news on its financial standing. I'd like to get a position here, but I can't if they're about to go under.
Hilarious...
...how big of a zealot does someone have to be to proclaim that a stock will explode after a company who is out of money requests a reverse split? This is ludicrous! These desperation plays, known as reverse stock splits, can signal sharp declines ahead that could wipe out a good part of your wealth. Its better to look at a reverse split as a flashing red light warning that you may need to kick a stock out of your portfolio. As many as 75% of all stocks wind up trading lower after a reverse split. Investors who failed to sell shares in several reverse splits in just the past few months have seen their holdings get hit by 60% or more in no time.
Smaller companies -- or those under $500 million in market capitalization -- tend to do the worst. Reverse splits are like a message from management that the underlying business trends are so rotten, they wont be enough to get the stock price up to snuff.
These are lies.
Please don't misquote me in the future. I said without financing news, dilution would begin "at some point"...I didn't say immediately. I still stand by that with a fist.
I also never promised that this security would stay in the 4's. That's nonsense. The only thing I predicted was a huge drop after the CLL denial, which did come to pass. No one in their right mind would "promise" the range of a penny stock.
If you're going to quote me in the future, at least make sure you're quoting me correctly.
I didn't say that the company was bankrupt...
...I did say they were broke, and they are. Those are two different things.
I also didn't say newbies would sell off. I said anyone with common sense would get out.
This stock should really sell off fast, especially considering the movement on zero news last week. That was a well timed p&d and that's clearly apparent now. Someone really took the newbies for a ride.
This stock will head south if people have any common sense. They have no funding in place and they're out of money...now they're talking reverse split. All this after telling investors that if they failed to obtain financing they'd be broke by the end of the 1st quarter.
When all evidence points to bad news, it's probably bad news.
It's hilarious how some people on here want to constantly spin negatives into positives. Example:
"CLL denial!? They weren't denied, the FDA favored another clinical trial!!! This is great news!!!!"
BS, that's not good news. It's terrible news, especially for a company with no money.
"A reverse split!!! Great news!! Buy on the dips!!!"
Come on, when does the madness end? Open your eyes.
You keep saying this...
" All I know is there is much more to these last few days with GENTA than what we know about!!"
It should be treated as spam.
Assume dilution either way...
...until you read a PR on secured, non-dilutive financing.
Thank you, prsch3259.
While I certainly understand and appreciate your point, we need to all make sure we are making investment decisions based upon the facts...not some blurred half truth of fairy tales.
What happens is, someone throws out some assertion like "Genta just got 23 million dollars in financing!", then others propagate this fairy tale over and over until it becomes fact without basis. That is why when these assertions are made, I ask the poster to "prove" what they're saying. I never ask them to prove something if I know they can, by the way.
These kinds of snowballed falsehoods are what lead unsuspecting newbies off a cliff.
It's best to unravel the spidery web of deceit. I'll let you guess who the spiders are.
Thank you, BillyRay.
I wish I could respond to you over PM, but alas, I can't because I'm a cheapskate and don't pay for service.
I agree with you in that I'm not in violation of any ihub rules and that my posts regarding the financial standing of Genta should not be removed. I will also heed to your advice and submit my concern to iHub administration if my posts on this important matter are removed.
Thanks for your support. I'm glad to know this board has a moderator like yourself. Maybe one day we'll realize that other current moderators should be reevaluated based upon their ethics and tact.
Thanks again.
I don't understand why we are not allowed to discuss the financial situation of this company, cdnkid. Why is this extremely important discussion point going to be treated as spam? Clearly it's something you don't want to talk about. Have you not also made your points over and over and over? Perhaps those should be treated as spam as well, especially since they are rooted in speculation while mine are rooted in facts.
Not so fast my friend...
...they put that 2010 piece in there just in case they are able to secure funding. As far as I can see, they don't have any yet and they're trying to pull a r/s to increase the pps window value to conceal a falling stock price.
What will happen is this r/s will be approved, everyone will be held with much less shares at a higher pps...then they will begin dilution to fund their operations.
That's quite a leap, cdnkid...
"The meeting is May, 2009 and then they have up to a year May 2010 to implement a R/S if they feel it necessary!! I guess we are going to be in business for at least another year!!"
This assumes that they can get financing.
"You should keep in mind that the implementation of a reverse stock split does not have an effect on the actual or intrinsic value of our business or a stockholder's proportional ownership in our Company. You should also consider that, in many cases, the market price of a company's shares of common stock declines after a reverse stock split. If this were to occur to our Common Stock because there would be less shares of our Common Stock outstanding, the actual or intrinsic value of the shares of Common Stock held by you would also decrease. "
Wrong, I wouldn't invest one dime into this company after reading them say this:
http://www.sec.gov/Archives/edgar/data/880643/000095012309004228/y01236a1sv1za.htm
From the bottom of page 13 of the above document filed to the SEC:
Presently, with no further financing, we will run out of funds in the first quarter of 2009. We currently do not have any additional financing in place.
Well then, sir show me where it says that...Don't post a link to the 8k...SHOW ME IN THE 8K WHERE IT SAY THAT SPECIFICALLY. YOU CAN'T DO IT.
...please read through the 8k and show me where it says the company has secured 23MM in financing. You can't, and since that is the case, this is what's next.
http://www.sec.gov/Archives/edgar/data/880643/000095012309004228/y01236a1sv1za.htm
From the bottom of page 13 of the above document filed to the SEC:
Our business will suffer if we fail to obtain timely funding.
Our operations to date have required significant cash expenditures. Prior to completion of this offering, we have less than two months operating cash remaining. Our future capital requirements will depend on the results of our research and development activities, preclinical studies and clinical trials, competitive and technological advances, and regulatory activities of the FDA and other regulatory authorities. In order to commercialize our products, seek new product candidates and continue our research and development programs, we will need to raise significant additional funds irrespective of market conditions.
If we are unable to raise additional funds, we will need to do one or more of the following:
• delay, scale back or eliminate some or all of our research and product development programs;
• license third parties to develop and commercialize products or technologies that we would otherwise seek to develop and commercialize ourselves;
• attempt to sell our company;
• cease operations; or
• declare bankruptcy.
Presently, with no further financing, we will run out of funds in the first quarter of 2009. We currently do not have any additional financing in place.
It is now March 25th and Genta STILL DOES NOT HAVE ANY MONEY
I can assure you, I read it...
...and if the company did indeed secure 23 million dollars in financing, they would've released a clear PR stating such. This company has not done so and the DO NOT, I repeat DO NOT have 23 million dollars in financing.
If you can show me in that 8k where it says they have secured 23 million dollars in financing, I will leave the board forever. That's a promise.
No money to continue operations.