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The Company disagrees...
From their S-1/A submitted in early March:
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
Wow, you are so wrong it's not even funny. This is the financial slide presented at the BIO CEO Conference in February. Notice in the bottom left hand corner of the slide, these are their financials from Q3 2008. That's 6 months ago. This company is broke and about to go bankrupt.
Here's what it looks like...
...This looks like a very well timed P&D. Someone buys a few million shares at the end of the day knowing a PR is coming, everyone on the street is like "Oh holy sh@# something is about to happen!" Stock gets pumped to a bunch of newbies after some PR that doesn't mean a thing in the grand scheme, shrewd investors say "Eff it, I'm along for the ride if they're going to pump it", they get on board, stock spikes, shrewd investors and the guys who had the idea of timing the buying at the end of the day yesterday sell off at the peak, leaving a brand new set of newbie bag holders.
I've always posted the facts...
...it doesn't look like there's enough buying pressure at this point in the day. If you have the capital, you might consider taking profits then buying back in at a later hour in the day.
It's a pretty good size pull back...
...but I think it was a healthy one. Buyers and sellers look to be on the same page for the moment.
It's looking really good....
...I'm still waiting on news before I get in. When that happens, if that happens, I will buy a huge position here.
Could be FQ, I hope so!
I've always been positive on the drugs and the prospects of the company, but I have to see news on financing before I can join the party. I think a lot of others are in the same boat.
It's going to rip through a penny...
...if this is followed with financing news, it could really explode. I really need that financing news.
Good luck guys!
Hopefully they release some news on financing...looks like she wants to run.
Hopefully enough to run business operations....
....without diluting shareholders to zero.
The charges were dropped 3 months ago...
...this has been a non-factor for months.
I'm not telling everyone to get out...
...I'm recommending that people stop throwing their money into a company that's screaming "we're about to go bankrupt!" and quit listening to people who are deceitful and want to take your money while pumping this security.
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 do have an interest...
...I've said now 1,000 times that I want to get back in this security, so of course I'm going to follow it closely.
Painted close isn't fooling anyone.
Neither are lies about the company having 23 million dollars.
No, I said I'd buy back in if they got financing, which clearly they have not.
Yeah ok! If that's the case...
...then you really need to rethink your trading strategy. This is like throwing money in the garbage. No funding, just a hope and a dream that someone is going to give them MILLIONS OF DOLLARS in financing, WHICH THEY DO NOT HAVE.
Sure you are, buddy.
Told you...BROKE
Gotta do what you gotta do...
...to keep the lights on.
I'd short it as well...
...because that's one way to make your money back. This company is broke.
Can someone please prove the assertion...
...that this stock is getting naked shorted in Germany? Everytime I post something to the contrary, it is deleted.
Prove it.
Where is the announcement?
This hasn't been approved.
And good luck to you as well, nutriman...
...I think you're making the right decision here. There will likely be a healthy pullback today on the big board which will present a very nice buying opportunity before it bounces.
It's a shame for Genta, great drugs, but after 20 years of denials from the FDA, they're just out of money.
Has Genta released any PR...
...on their financial situation, stating that they've come up with non-dilutive financing? You would think that if they had, they'd let investors know right away...right? This was a major concern during the conference call, and after reading the S-1/A, it appears that Genta is completely out of money by the end of this month, if not already. Notice the image below is their financials as of the END OF QUARTER 3 2008. That was 6 months ago.
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.
http://www.sec.gov/Archives/edgar/data/880643/000095012309004228/y01236a1sv1za.htm
(bottom of page 13)
No, it's called people...
...objectively looking at this situation.
Looks like more people are coming to their senses.
...aint that right, nutriman? Watch how quickly you become a "basher" in the eyes of the kool-aiders here.
Genta is out of money.
I don't know that for a fact...
...apparently you do, though. Can you prove to me how you know this?
Last news I heard from Genta was that they were completely broke and would run out of money by the end of Q12009. They also stated that they had no additional financing in place. This news is on page 13 of the S-1/A filing made to the SEC this month.
There's no reason to get on board...
...at this point man. I mean, zero. The company won't have any news on any drugs being approved until next December...as in December 2010. There is still no clarity on non-dilutive financing and the company is out of money.
This makes absolutely ZERO sense...
...if Agenda fails, the shares that you're saying they exchanged for 23 million dollars will be worth ZERO. NOTHING. How exactly is that assurance to the financier? The company will FAIL, the shares will be worth NOTHING.
You've got this all wrong.
...And this sir...
...is PRECISELY why Genta won't release a PR about their plans to continue business operations. They have people confused, therefore, they have people throwing in money to keep their lights on.
If you had 23 million dollars on hand in non-dilutive funds, wouldn't you let the investment world know so flat out, point blank? I mean really, that would be a cause for celebration!
Instead, they veil their dilutive financing in an impossible to decipher 8k.
People are going to get burned here.
Yes, and Yes.
Yep, good selling opportunity the MM's are giving you.
You are completely missing the point, continually...
...this company has to prove that they can stay alive for the next month, let alone the next full year and a half! You won't hear word from the FDA until the end of next year...that assumes the company can even finish the trial...hell, finish the month!
That and...
...there is a sucker born every minute who will think there is actually enough pressure to push this thing to .0069
Unreal.
I've put in months of research...
...into Genta and it's prospects. I still have an interest and I'm hoping that they'll PR news on non-dilutive financing so I can get back in here. Problem is, they aren't and they won't until they have some. They know how big of an issue it is, so if they indeed secured non-dilutive financing, they'd be sure to let everyone know in a clear PR that speaks to investors. "Hey, we just got an additional 23 Million dollars in non-dilutive financing that will alleviate the pressure on inability to continue business operations. We are now well positioned to not only complete the Agenda Clinical Trial, but also to continue other trials that include our pipeline of drugs. We're very excited about the future of the company not only for 2009, but for years to come." You see? Not some 8k that is written in olde English and just leaves everyone scratching their heads.
Get serious.
Therefore, I'm going to stick around if you don't mind.
People who keep buying shares thinking this company is going to be around long enough to even hear results on the Agenda Trial at the end of 2009 are putting the cart before the horse.
What does it matter if I'm invested or not?
Genta leadership said not to expect any results until at the earliest, 6 months after the final patient has been enrolled.
The Agenda Trial is still enrolling patients, which means accrual is not complete.
You probably won't see any results until October or November at the earliest.
The trend continues...
...and it will begin to accelerate.