Your request may have very well causes this!

I think a partner would be a material fact, and I don't think the SEC would let them keep that confidential, and even if they did, what justification would there be to keep it confidential for 10 years? Material facts MUST be disclosed within a reasonable time.

Most likely they want to keep the names of the note holders confidential. Note holders would not want the public to know who they were. Would you? These type of investors are very private, and don't want everybody knowing their business, including shareholders that they may represent. Some of these people make tremendous returns. Remember the stir late last year and early this year about all the money the hedge funds made?

Just a guess here, but they may have requested they be allowed to keep the names of the note holders confidential along with any financial information ABOUT the note holders.

"here are nine exemptions available under FOIA, but issuers generally rely on the exemption for "trade secrets and commercial or financial information obtained from a person and privileged or confidential," under Section (b)(4) of FOIA, commonly referred to as the "(b)(4) exemption," when seeking confidential treatment in connection with the comment letter process."

http://www.metrocorpcounsel.com/current.php?artType=view&artMonth=January&artYear=2006&EntryNo=4103

No link in post?

Not sure exactly which you are talking about. Point me to the post.

Over the weekend a lot of people attacked me, called me a short, and generally trashed advice I offered, just because what I posted did not fit their needs.

I tried to give a little advice. I'm a long time speculative investor in small developmental bio-tech companies. I've been doing this for a long time. I know every trick in the book. So here is a tip for the future:

When you "find" something on the internet and want to determine the actual date, or figure if they are trying to deceive you with a fake date, just look at the source code on the page. It is pretty easy to do.

I use Firefox, so here is how I check:

1. With the page displayed, right click and bring up View Page Information. Check the date the page was last modified. In this case it was modified last on Thursday, September 07, 2006 8:32:00 AM. That is a hard set date. There are ways to flip that information, but most people won't go that far unless they are really good, and that would be a deliberate act that might be of interest to the SEC.

2. With the page displayed, right click and bring up View Page Source. Look for information mentioning the date. In this case it was code under the heading "LOCALIZEABLE GLOBALS". If you know any simple programming you should know that "var = today" returns today's date.

If you use Internet Explorer (don't know why you would) do the same and do View, Source and look for the "LOCALIZEABLE GLOBALS" and the same code as #2 above. I'm not sure how to find the last date modified in IE, but I'm sure you can.

This is an old trick of pumpers and dumpers. Most companies don't do this stuff, because if caught they will have problems with the SEC. However, I have had a CEO tell me he "read" an interesting article on the internet and direct me to it. When I confronted him with the actual date of the article, he said he had seen it and did not know it was so old. Hmmm....

Beware- There are people who will try to deceive you!

Good luck to all. Someone ask me about other bio-tech stocks over the weekend. I posted several suggestions, did anyone check any of them out yesterday? Yesterday was about the best day I've had in a long time.

fmrick, you got out genta few wks ago, so where are you jumping to that's much better pos. just curious.

Well, I do mostly bio-tech for speculative investing (and contrary to what many say, this IS a speculative investment).

Right now I'm on INSM, which is the stock that lead me to Genta. They are sitting on a pile of money and have a pretty good story.

Had CVM until Friday. Sold it when it ran up Friday on BS news (most of CVMs news is BS). I'll buy it back when it drops back, ready for the next BS release.

I own a lot of CBTE. It has a small float and runs a lot whenever there is news, not necessarily because the news is great, but more because there is a small float and any buying makes it go up. They have a good plan that will hit pay dirt someday, but until then it is just like CVM- A good trade.

Own others more long term- ACEL, INO, TGEN, CADM. Outside of bio-tech I'm holding REFR (a trade only), WNDEF (wind power!), and doing research on XPGH (alternative fuels). XPGH is a great story for me. I bought 2MM shares once of a subsidiary for 0.0015 and sold it after three weeks at 0.13! While it won't do that good again, I like the chances it has at 0.045.

My advice to those looking for good stead returns is look to mutual funds for Asia and India. I have one fund (Matthews India) that is up 74% since I bought it Feb. 3rd. When the markets are good they go up fast. But when the markets are slow the go down faster, so you have to monitor them VERY closely.

Bashers don't use the same screen name on multiple messages boards for 15 years. My screen name is the same as my e-mail address. Bashers hide their identity.

Check any board you mentioned that will let you search for member information and you will see how long I've used the same screen name.

Oh, and the math I did took all of 2 minutes. Not that hard if you know what you are doing. The numbers are what the numbers are.

What are my motives? None really. Just joined in on a discussion about a company. Message board posts all should be taken with a grain of salt unless you know the poster personally. Anyone who make investment decisions based on what they read on a message board deserves exactly what they get.

What these boards are good for is getting the basic information needed to start your DD. As I posted yesterday, I made bought this stock too fast and luckily I was able to get out with a decent gain. They may release big new tomorrow and go up to .10. But I still made my money. I may be back in a couple weeks from now. Or maybe I won't. Whatever I do it has nothing to do with what read on any message board.

You people need to stop bashing everyone who has a different opinion than yours. It reflects poorly on you and the board. If you don't like what someone says, refute it. Don't like the numbers I posted? Post your own. Maybe you can teach someone something, or maybe you can learn something.

Good luck.

If you read my post you saw that I said:

"Unless they stated that they are requested an increase in the authorized, the R/S will decrease the authorized by the same ratio as the R/S."

I said that because normally that is how it works. I had not read the entire SEC filing and just assumed that a company doing a 1:100 would never consider keeping the authorized so high. After your challenge, I found the SEC document and read it, and you are correct. They will not decrease the authorized. Wow.

Let the public flogging begin.

However, this makes it even worse, and I now understand everyone's concern. So now they can just dilute the 8% that the old stock holders were left with by another 92%.

I think the management is trying to steal this company before they get anything approved. And doing a pretty good job of it.

For what it is worth, I was a shareholder of record on the date of record for the new vote. If they send me a proxy I will vote no to pay for my mistake in the previous post. As if will matter...

As of May 27th, We have 4,821,537,092 shares outstanding. Does everyone realize we would only need to have a 1-for-10 R/S Ratio to be where CTIC is at, 500M OS? I don't see a problem with this. I am still wondering what makes everyone so adamantly believe Genta is going for the full 1-for-100? My guess is they just said that to leave their options open.

But people keep doing this comparison as if there is no other differences in the two companies. There are BIG differences.

CTIC is listed on NASDAQ Capital Market.
GNTA is listed on the Over the Counter BB.
This is a big difference, the most important in my opinion. Many institutional investors can't touch OTCBB companies. You cannot get listed on a major exchange unless you meet certain criteria, and being above $1 is a major one. Doing the 1:100 get them above, or at least closer to that number.

CTIC has 26x the income of GNTA in the last 12 months.

Having 6 Billion shares outstanding is a big problem. Right now GNTA is worth about $62MM. That is the market cap. Sure, we know that the have other worth that may not be reflected in the price, but that is what it is worth. But this is where I have a real problem. The market cap was about $99MM in December, before the big price drop caused by the OODP notification. So right now you have had a decrease of $37MM since that time. So they have issued about 13x more shares and the price has only dropped by 1/3rd. So to me that says, if it was correct that GNTA was worth $99MM in early December with about 450MM shares outstanding, if all things are equal, it should be worth 0.017 today. But, considering that the news of the OODP letter dropped the value in December by about 85%, one could make the argument that the value is .0025.

So that gives me the approximate range of value, 0.0025 to 0.017. I think it is actually somewhere in between there, given what is pending. And guess what? The price is at 0.0102, just about in the middle of that range. So, if you can hold it at $0.01, do the 1:100 reverse, the price will be about $1 with 60MM shares outstanding.

I disagree with something else I've read here. People keep saying the authorized shares is at 6 billion and that the R/S will not change that. Unless they stated that they are requested an increase in the authorized, the R/S will decrease the authorized by the same ratio as the R/S. If they then want to increase the authorized, they have to do another vote. And remember, once the note holders, who will own 92% of the company after full conversion, have converted, their interest will be the same as the old shareholders. Any additional dulition will hurt them as well, and that might influence their votes on an increase of the authorized. This is my ray of hope here. I think the company will reverse the shares, then come out with any news they might have to keep the price up and moving forward.

The financing deal was toxic to the shareholders that existed before the deal was done. I understand that companies like this must find money somewhere, but this is about the worst deal I've ever seen. Check some of my own investments in other bio-techs and you will see the same type of deals. Check CVM. They have done these type of deals and got KILLED. But it is the nature of the business.

If you got in before the deal was done you really have only two choices. Hold your shares and hope for the best or sell out and move on.

Lucky for me I got in just a few weeks ago and got out on the run a couple weeks ago. But I'll be watching and will get back in if I think things improve. But you have to ignore the people YELLING- NEWS SOON or SELL NOW! Because it is all about the numbers, and the numbers don't lie.

Can you give me your old username on IHUB so I can read some of your other posts? You seem to be very intelligent but just want to read in on you a little further.

I don't post on any board with any name other than fmrick. But if you search Yahoo!, Ihub, Silicon Investor, Raging Bull, etc, you will find plenty of posts from me going back as early as 1993 or 1994. I ALWAYS use the same screen name. I don't post anywhere as much as I used to, mostly because I don't have the time to post as much. But be assured, I read lots. You have to to keep up with as many companies as I do.

The identity here is new. I thought I registered once in the past, but when I tried to sign in it did not recognize me. This is the only really active board I could find for Genta, other than Yahoo!, which is pretty much trash, like most Yahoo! boards have become.

No offense taken, I'd do the same. If you read my post earlier you know that I did have shares but sold them. Might get back in if I see things improve some. I just have better places to put my money right now.

It is either 15 or 30 days if you intend to become a +5% holder.

Just speculating. But maybe someone is already interested. Lets say for the heck of it they are in talks with parties.

Ok they notice a butt load of buying of the stock. So they change the vote date and accelerate the 2008 conversion to block any possible hostile takeover along with the threat of R/S with further dilution.

Well there is an easier way to do that!

Let's say I'm Merck. I like what I see here and want to buy the company outright. I can do it one of two ways. I get in touch with the holders of the convertible notes, and offer to buy them for 150% of face value. I don't worry about the holders who are connected to the company (how did that happen anyway- another warning sign! SEE BELOW), because I only need 51% of the outstanding. With 51% ownership I can vote to accept any offer I make. So I buy out the note holders for less than $20MM. They are happy, they made money. Don't EVER think that these finance people are interested in helping the company succeed. They make money by investing and getting their investment out as quickly as possible. Then they move to the next deal. If they get a no risk chance to make a quick 50%, they will take it every time. So would you, and so would I.

Or I just go out and start buying the shares on the open market until I own 51%. That requires filing with the SEC, so you have to buy them fast, before you have to file. What has the volume been the last few weeks? Think I could have bought 51% on the open market in the last 15 days? Sure, I could have, we have all seen the volume. Somebody was buying. And I still have some time before I have to meet the SEC deadline.

If they were already in talks, as you asked, the note holders value, whether they be considered cash owned or shares outstanding, would have to be part of the deal. You can't just ignore the note holders in your deal. They have a stake already.

My comment above about the insiders being part of the pipe gives me lot of heart ache. The pipe people now own 92% of the company. That includes some of the insiders who participated. These are the only people who had knowledge of what the company was doing. In less than six months they have transferred 92% of the ownership of the company from the old shareholders (450MM shares outstanding) to the new investors, including themselves. But the insiders were playing both sides. They were making decisions that benefited themselves at the cost of the old shareholders. It is easy to win at poker when you are the dealer and you know what cards you are dealing to the other players.

If you don't mind me asking. What was the parent company you are in that was seeking to buy?

First, let me state that it was the message boards throwing out ideas, not the company itself.

The company is INSM. It is an interesting story. They have been to the brink of failure and success many times. They got FDA approval for their main drug, Iplex, only to lose a patent law suit with DNA and a sub-licensee of DNA that restricted them from selling Iplex for the condition that it was approved for. But they recovered and have lots going for them, including about $150MM from the sale of their manufacturing facility in Colorado to Merck. So they are sitting on a pile of cash, while still having some sales for Iplex for other indications. If INSM could buy it out for less than $25MM it might be a good deal for them. They have money and Genta has the products, and needs the money to get to the finish line. But $25 million would be a slap in the face to anyone here who held prior to the first of the year. However, $25MM would be 2.5x the current market cap. INSM investors would probably be pissed if they spent 2.5x more than a company was worth.

I hope this does not offend people here, but from reading this board (and keeping my mouth shut) for the past few weeks, I seem to have gotten the opinion that there are some inexperienced investors here. They sound a lot like I did in the early 90's when I got the bio-tech bug. I am not a professional investor. I'm just a guy who is in a position to do a little speculative investing. I've made lots of mistake in the past. But I hope that I've learned from those mistakes.

The best advise for people interested in investing in companies like this is to diversify their holdings. Buy 8-10 small companies. If you buy 10, 8 will fail. But you will more than make up the losses on the other two. Also, don't be afraid to trade these companies. Most run on news and pull back. Play these runs. Sure, keep some long just in case, but you will make more money on the trades on most stocks. Finally, don't fall in love with a company. It will burn you every time.

Here is an example of a bio-tech that I learned a lot from in the past. CVM. I sold it yesterday for about the 1000th time. It was my first bio-tech stock. I've rode it from pennies to as high as $10 SEVERAL TIMES. The first few times I rode it up and right back down again. But I learned to trade it on those runs. Yesterday it ran from .35 to as high as .80 on 25x normal volume. Read the press release they made that caused the run. Do you see anything other than speculation there? No. So I sold for 100% gain, and I'll buy it back next month when it is back in the .30-.45 range. Am I sure that it will fall back? Well, nothing is certain in life, but I've been down this road with them many times, and my guess is that it will. If I'm wrong I only made 100% this trip.

Most of you had the same chance here in the past couple weeks. I bought low and sold out. However, I made a mistake here. Yahoo listed the outstanding at about 450MM when I first looked at it. That looked really good at first. Then, when I had more time, I looked deeper and saw the pipe financing. Whoops! So when I got the chance to get out with a nice +50% gain, I jumped. Will I be sorry later? No, I don't look back. Each trade is just that- One trade. I made money. I move on. I still think there is something here, but until they figure out the financial problems, it is overpriced with 6 Billion outstanding at 0.01.

Good luck, I'm going to keep monitoring this board and will get back into the stock when one of two things happens. If it goes to less than .005 or they reverse it at 1:100 and it drops to .50 with less than 100MM outstanding.

"Anyone have any ideas or previous examples what has happen during a reverse split? or after? Will it drop back down dramatically? Should we hold till after?"

I have been investing in small bio-tech companies for the past 18 years. I seen this exact situation many times. Small company, "good product", not enough money, and selling too many shares just to keep above water. 90% of the time the price of the stock drops after the split. Sorry, but it is true.

People keep talking about a potential deal. Why? If you were a company that wanted to buy this company out, or just do a deal with GNTA, why would YOU wait? The current market cap is $10.4MM. That is daily lunchroom spending for most of big pharma. If they want to buy this they could. My guess is they could buy it all for less than $20MM. So why would they wait? So what if they just wanted to partner up and not buy it out. How much is that worth? Well, if you can buy the entire company for $20MM, why would you pay more for just a partnership?

There is some value here, IMO. There is the chance to make money. But for now, until they get some type of approval for something, any deals they do will be for a few millions, at best.

As I posted last night, I sold my shares for a small profit and will sit by the sidelines and wait. I will be looking for a good entry point post-split. I came here in the first place because this was a company that another company I have shares in was rumored to be looking to buy it out. They have cash and are looking to expand their pipeline. They many by it in the end after all, but they would pay far less than some of the numbers I've seen thrown around on this board. Far less.

"If i'm not mistaken, We will probably see another PR sometime tonight or early next week (MON,TUES). 8k's are usually followed up by significant news. IMO"

And how do you figure that? This is like the 10th 8K in the last several months and they did not release any new with any of them.

You people need to get a grip. What this 8K is about is the 5.2 BILLION shares they now have outstanding. It is a required warning to shareholders that significant things happened in the past few days that lead to many more shares being added to the outstanding. It is a warning you should heed.

I started following this company a few weeks ago after posters on another message board threw it out as a possible company to buy for another bio-tech company I own stock in. They are sitting on about $150MM and are looking for something to do with the money. We started looking at this as a possibility. I bought about 700K shares just in case. I have since sold my shares for a small profit. Reason? There is little value here. There are just too many shares outstanding right now, and your market cap is so low that anyone with $50MM to burn could buy you out easily. It is those stupid convertible shares that these bio-tech companies love so much that destroy most companies that fall for the trap.

Sorry to say it, but the old shareholders are losers here. The new money now owns just about 92% of the company. They will determine what happens. The old shareholders are just along for a ride without much say in where the ride is going.

Good luck. I'll check back after the R/S to see where the price falls out. If they do 1:100, as I suspect they will, then there will be 52MM outstanding at a price around $1. Post split it will drop 25-50%. If they have positive data, and a deal, that will be the time to buy.

Again, good luck.

Just checked my Scottrade account and the only news listed is yesterday's.