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good morning. It would be a great happyniess after one year. I can wait and take profit later. Let it grow huge!
Is it a strange day? Anyway, that is a kind digestion and a rest before new up. Time is on SFNL.
I agree PFMS is looking good. But with PPS 0.001, I do not know how to buy, 1000 dollars would by 1 million stocks. With less than 1000 dollars, do not means too much, because I paid a heavy fee, al least 60 dollars in each trade (I am in Eu).
Realistically, it may go to the 30's cent area and settleing in the 20 cent area (very short term) before making it's march over a buck over the next 3 years. This is one's idea. If it goes like it now, I guess it should reach a dollar within a year or even faster?
Preview the target: Q3: 0.3, Q4: 0.5, 2011 Q1: 0.7, 2011 Q2:1. So maybe within one year, ir can reach dollar land!
Maybe it is not good but could be worse. And the meeting with FDA is the light.
Is Auto back? Why they always sell at 0.06? Maybe we should eat them all.
Is there anything wrong of the Q-report? Why Auto insists selling at 0.06?
I just got 10k stocks from Auto. They need some urgent cash!
Hi, guys, getting dissapointed? Good Q but bad PPS. But you know those tricks much bettrer than me. So what is following? Seems MM controls the PPS to 0.06s for a time.
MMs are very strong. They do not mind tiny loss but want to control everything. But we will hold tight and long.
I am trying hard to get more at 0.04, but who will give me those stocks?
You mean we are going down? MMs are too powerful? Maybe chances are coming in this way.
Someone wants to control the price? 60k at 0.04 sell. Maybe they want to cover in a lower level. Could we stop them? We are not that strong. But try to get more if possible.
Why PPS drops a lot?
What is BM number?
question, what is the target price? when should we take profit when good news come?
why is it t-trade? i got 20,000 at o.066 within these 35,000 trade.
question, what is the target price? when should we take profit when good news come?
Be careful, After 30th September more dilution may come!
Pursuant to the March 2010 Purchase Agreement, the Company has agreed to effect a reverse stock split in a ratio to be determined by the Company’s Board of Directors and approved by the holders of 66 2/3% of the then outstanding Closing Notes. If such reverse stock split is not effected on or prior to September 17, 2010, the Company will be obligated to pay each investor who is a signatory to the March 2010 Purchase Agreement a cash payment equal to 0.75% of the principal amount of all B Notes and C Notes purchased by such investor for each day from September 18, 2010 until the reverse stock split is effected;
In the March 2010 Purchase Agreement, the Company also agreed that it will not file a registration statement or undertake any registered offering prior to the earlier of (i) the later of September 30, 2011
Thanks! Smitter. In fact I follow you here and see it today. I hope it will be a much better story. Do you remember the 17thSep story of the other one? For this, hoping it will reach 1 someday.
Yes, I just follow you gusy up. Just in today.
17th September, is it important anymore? Since the RS is done. Does anyone know?
Genta Incorporated Reports Second Quarter 2010 Corporate Highlights and Financial Results
BERKELEY HEIGHTS, N.J., Aug 12, 2010 (BUSINESS WIRE) -- Genta Incorporated (OTCBB: GETAD.OB) today announced financial results for the quarter ending June 30, 2010. Corporate highlights for the quarter included:
-- Tesetaxel dose-ranging studies show potential activity in taxane-resistant breast cancer
-- Survival results from AGENDA Phase 3 trial of Genasense(R) in advanced melanoma on track for expected followup completion in Q1 2011
-- Pooled results from two Phase 3 trials of Genasense(R) confirm significance of secondary endpoints
-- New Ganite(R) clinical trial initiated for treatment of serious infections in cystic fibrosis
-- Reverse stock split implemented as approved by stockholders
Financial Results
In June 2010, the Company received stockholder approval to authorize a reverse stock split of its common stock. Subsequently, a 1-for-100 reverse stock split was approved by the Company's Board of Directors and became effective on August 2, 2010. All share and per share data included in this press release have been retroactively adjusted to account for the effect of the aforementioned reverse stock split for all periods presented.
The results for the second-quarter and six months ended June 30, 2010 and 2009, respectively, include the impact of the mark-to-market accounting for the liabilities for the conversion features of its notes, debt warrants and warrants that were issued in its financings, including the financing that was closed in March 2010. These liabilities fluctuate according to the price of Genta's common stock, and as a consequence, these fluctuations have caused the Company to report positive net income for the second quarter of 2010.
For the second quarter of 2010, the Company reported net income of $25.4 million, or net income per basic share of $3.66 per share and net income per fully diluted share of $0.42 per share, compared with a reported net loss of $(43.1) million or $(62.56) per basic and diluted share, for the second quarter of 2009. For the six months ended June 30, 2010, the Company reported a net loss of $(141.2) million, or $(30.84) per basic and diluted share, compared with a net loss of $(54.1) million, or $(124.27) per basic and diluted share, for the six months ended June 30, 2009. Presently, the Company has approximately 8.4 million outstanding shares of Common Stock.
At June 30, 2010, Genta had cash and cash equivalents totaling $15.6 million, compared with $1.2 million at December 31, 2009. Net cash used in operating activities for the 6 month period ending June 30, 2010 was $6.3 million. We project that our average net monthly cash outflow will be approximately $1.2 million for the balance of 2010.
20 cents are possible. But how about the huge toxic stock at 1?
That may get to a new low instaed of help. But it may also make a bottom if all the bad news are out.
BTW, the date is 14-16 Aug, by guess.
There are several billions of toxic notes before RS, should it go to several millions after dilution?
If you are correct then 1 would be the recent bottom in a short term.
Thanks a lot! One remaining question: if fully diluted it is 57 million, then the PPS would drop much lower than 1. So that means those toxic stocks would also suffering a big lost. Is that true?
Hi, Thanks for your info. We had an expection it might drop to 0.007 before RS, which means 0.7 it might reach now (or more down) when all the notes are converted and at the same time more diluted stocks issued.
An idea about 12thAug. They may announce more dilution to cover the notes. Then the PPS would drop to 0.77 or even more. Could that be true?
Could you expect the date for this event? It is getting near and would be very ineteresting!
Dear Smitter and RYJO, I have some basic questions.
1) Smitter, you said one good entry point is after RS. And now, why you are not sure?
2) RYJO, you said several times that you would not think the PPS would go below 0.77, why?
3) What happen to PPS if all the notes are converted now? Should it be around 1 because the convertion rate is 1 or should it be much lower because there are not enough stocks and so much more dilution has to be made?
4) They said the notes have to be converted before 17th September, so it may go bottom at that time?
Thanks a lot for sharing your ideas!
They said by the 2nd quater. So it is already delayed and could be any time from now. Or it could also be delayed forever. But they may use it at the best time for them. It is hard to guess.
I just do not get it. Should R/S be a negative force? Why could it not be the 3rd submission? I respect your idea a lot. That is why I wonder from your opinion that PPS will not reach 0.05-0.06, even with 3rd submission.
FDA--Forever delay. Thay are in summer vocations anyway.
Surely it is not the bottom IMO.
However why not possible for the 3rd submission? It may make a short spike, higher than 0.06 IMO.
OMG: it is true.
http://clinicaltrials.gov/show/NCT00411177
Found this article which explains why this study is vital to NEPH's approval. Read the last few paragraphs as it explains the three vital studies which will prove HDF's ability to lessen mortality. The decision is getting closer.
http://www.touchbriefings.com/ebooks/A1n...
So in most cases, after 0.03 then 0.01, then RS, then would be the 3rd submission?
Could it be 10 % possibilities that 3rd submission before the RS?
I think it is an important information which may explain the FDA delay. Following is one of the link. Could we collect these information then we may know when could be the trials be finished.
http://clinicaltrials.gov/ct2/show/NCT00...
It is post-dilution
Estimated completion date 3/2010
If we have $1000,000 to buy right now, can we push the whole thing back?