Another bit of information from the 13 filing: read my interpretation below it please and comment:
"The second half of the Incentive Grant, comprising 20% of the Initial Grant or 5,294,936 shares, shall vest on the date when the market capitalization of the Company first exceeds ten (10) times the market capitalization value as of the Initial Grant date. The market capitalization value shall be calculated for the grant date and for the vesting date using a standard measure of the Company’s daily closing stock price on a recognized exchange multiplied by the number of shares issued and outstanding on each of those dates. The market capitalization of Genta Incorporated on the Initial Grant date of August 31, 2009 was $50,869,855.58 determined by multiplying the closing stock price of .38 as reported by Bloomberg.com by the number of Genta shares issued and outstanding of 133,868,041 as determined by The Company."
What this means people isthe 20% of incentive grant vests when the companies market cap is 10 times $50 million, or $500 million. So do the math. $500 million divided by outstanding shares of 169,000 or so = $2.90.
I might be wrong on the outstanding shares, but whoever wrote this incentive fully EXPECTS this to be a ten bagger. Get it?