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Wow that is just to funny
Good catch Gump
The volume is the note holders selling called Dilution
I agree with you doesn't look good. The reverse split money machine has run dry.
Exactly fmrick
However even at the present market value of 12mill no one will pay that with such a bleak future outlook. Any smart buyout company will wait till they declare bankruptcy.
Reading the release it could be as early as tomorrow
Looks like a reverse split real soon Here we go again
From press release
The transaction is expected to close with initial gross proceeds of $2.0 million on or about March 30, 2012
Summary of Financial Terms
The $12.0 million of Senior Secured Convertible Notes issued pursuant to this transaction have a 10-year term, bear an annual interest rate of 6%, payable semi-annually, and will be convertible into shares of Genta common stock at a conversion rate of 100,000 shares of common stock for every $100.00 of principal that is converted. Certain provisions from prior transactions, including a requirement that the Company implement a reverse stock split and a conversion price reset of existing convertible notes following such reverse stock split, will be eliminated upon the closing of this transaction
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Have followed Genta for several years and was and investor many years back and got burned with the FDA not approving Genasence. Have kept up on Genta over the years. Hal Mintz and Sabba Mgmt are both note holders from Rays toxic financing. They have now lots of shares and Will be unloading soon .The reverse split you are talking about was their results of the appeal from the proposed split last year which was rejected.
A new 8k in January explains 2012 Amended agreement because of the last rejection.
On January 18, 2012, the Company entered into an amendment agreement (the “Twelfth Amendment Agreement”) with certain investors in the September 2011 Financing to amend the terms of the September 2011 Purchase Agreement to extend the deadline for the Company to effect a reverse stock split. As a result of the Twelfth Amendment Agreement, absent any further waiver or amendment, the reverse split must be implemented by February 15, 2012. The Company sought this amendment to the September 2011 Purchase Agreement to enable the continuation of ongoing discussions regarding corporate partnership opportunities for
Be very careful and read all the sec releases to understand Genta
How can you call holding Genta shares right now a smart investment. All your so called big investors are note holders ( through Rays toxic financing ) they are going to sell ( dilution) so the share price is only going south.
GOOD LUCK HOLDING
The last denial of a r/s was from 2011 they are looking at another one soon. Must be done by April 16, be carefully, there will be a pump as the note holders have lots to sell before April
From the last 8k
On February 15, 2012, the Company entered into an amendment agreement (the “Thirteenth Amendment Agreement”) with certain investors in the September 2011 Financing to amend the terms of the September 2011 Purchase Agreement to extend the deadline for the Company to effect a reverse stock split. As a result of the Thirteenth Amendment Agreement, absent any further waiver or amendment, the reverse split must be implemented by April 16, 2012. The Company sought this amendment to the September 2011 Purchase Agreement to enable the continuation of ongoing discussions regarding corporate partnership opportunities for tesetaxel.
Where are you getting your info . This is taken from The 10Q on Jan 17 2012
Common stock, par value .001; authorized 500,000,000 shares;
220,995,044 and 197,690,250 shares issued and outstanding, respectively
Hellcatjr how is this web site connected.
The next step is to get out of the grey market.
Gary be carefull because the new 8k now gives ray that by January 15 2012 he must have a reverse split.
Are you kidding the financiers have lots to sell. Why do you think Ray has increased the available shares to 10 billion. LOTS MORE DILLUTION TO COME. Ray may also have to adjust the conversion price for the financiers also, because the December 15 reverse split didn't happen. Be careful if you are holding now.
The reverse split for Dec 15 was not approved. However don't forget that Ray also has approved two reverse splits for 2012. If you think you can make money on Genta right now by holding long you need to do some more DD. The only way is to swing trade. The end of 2012 may be a good long term entry point. Got burned by Genta back with Genasence approval.
Great to see the press release and now more activity.
CTTC I don't have the answers to those questions, however their web site was Definitely hacked.
Yes their web site was hacked it was just after they launched the new site. I noticed it and sent Mike a message and also the creator of the web site. The site was fixed within 2 days.
The payment to LBP was one big step. using a approx. calculation LLEG should receive.
A per press release on Sept 16
original aggrement
5,000,000 payment to LBP,
2,375,000 after adjustments would have gone to lleg ( .47% of payment)
As per Press release on Oct 20
after settlement
3,562,500 paid to LBP
so using similar % lleg would get 1,674,375. approx.
Only 700,000 less the then original aggrement. I hope this will move us forward now.
If newco did not live up to their purchase agreement, wonder if laidlaw will still own a percentage of the berlin project.
Is LBP a divison of laidlaw energy, so lleg didn't get it's payment. Or does LBP own the other 50% of the Berlin project.
Yes I fell the same, that any press release right now would be meaning less as it won't effect the price properly, as it is to hard to trade freely on the greys.
I expect soon they will have some info on uplisting.
As per the conversation I had with ED he was very concerned with the non liquidity of the common stock.
HLH
Call him at 1-212-480-8400
He was there 15 mins ago. You can ask him your questions, he may not be able to give you the all the answers but share holders need to voice their concerns.
Just had a long conversation with ED ( Call him he will call you back) He listened to my concerns, said he would pass them on and I'm hoping we get a press release about the finishing of the Berlin Project.
Call ED He is their to speak to the share holders.
The more that call, it will put presure on Laidlaw to communicate.
Total agree, and especialy after the new developments with the Berlin project. LLEG can not stay quiet, they have had years of work to get the company, and it's share holders to this spot with the project.
The share holders deserve some response from the company.
What is the o/s share
issued 8,522,208 shares wow!!! look out below it's going low.
It looks as if thing are coming together. We should hear from LLEG soon. Great entry point if you can get any. 3-5 bagger for sure.
For those that can buy at these levels could be a good return. with the upcoming events.
http://www.berlindailysun.com/featured/story/agreement-reached-berlin-station
Agreement reached on Berlin Station
By Barbara Tetreault
Aug 24, 2011 12:00 am
BERLIN — An agreement has been reached between the small biomass plants and Public Service of N.H. that the parties hope will pave the way for development of the 75-megawatt Berlin Station biomass plant.
The settlement agreement was formally announced yesterday afternoon by Gov. John Lynch. Earlier in the day, power purchase agreements between Public Service of N.H. and five of the six Independent Power Producers were filed with the N.H. Public Utilities Commission.
In exchange, the IPPs agreed to withdraw their state Supreme Court appeal of the 20-year power purchase agreement between Berlin Station and PSNH.
Lynch said the settlement agreement between PSNH and the IPPs will allow the construction of the new biomass plant in Berlin while retaining jobs at the existing smaller biomass plants.
“Given the state of the energy market today, it has become difficult for small wood-fired plants to continue to operate without the stability of contracts to sell their power to a utility company. The Power Purchase Agreements address a short-term problem in a measured and responsible way,” Lynch wrote in a letter to the PUC. “The petition and settlement agreement will also allow the Berlin BioPower project to go forward, which is an important step forward for economic development in Coos County.”
News of the settlement agreement was greeted with enthusiasm by Berlin Mayor Paul Grenier who made his support for the project the centerpiece of his campaign for mayor.
“I just think it’s great news for the city of Berlin and great news for all of Coos County,” he said. “We’ve got the building block for our new economy.”
North Country Senator John Gallus said the settlement was good news for the economy of the region.
“This is really going to help,” he said.
Berlin Station had received its necessary state and local permits but its efforts to construct the biomass plant were stalled when six small biomass plants filed suit in state Supreme Court to overturn the PUC’s approval of its 20-year power purchase agreement. With the appeal pending, Cate Street Capital was not able to complete the financing for Berlin Station.
Grenier credited the efforts of Lynch and DRED Commissioner George Bald in developing the agreement. With the parties at an impasse, Lynch convened a meeting in June with representatives of the IPPs, PSNH, Cate Street Capital, the PUC, DRED, and some key legislators. When negotiations broke down in early July with each side blaming the other for the stalemate, Lynch was able to restart them.
Grenier noted the settlement agreement also benefits the North Country by providing needed capital to Isaacson Structural Steel as it seeks to reorganize. A major employer, Isaacson earlier this summer filed for bankruptcy protection. According to testimony filed with the PUC, the project will generated $2.75 million in New Market Tax Credits. Of that total, $2.25 million will be loaned to Isaacson to help it through its financial crisis. Those funds could be available to the company soon after Cate Street closes on its financing for the project.
The PUC still has to approve the individual 20-month power purchase agreements for Bridgewater Power Company, Pinetree Power Inc., Pinetree Power-Tamworth, Inc., Springfield Power, LLC., and Indeck Energy-Alexandria, LLC. The sixth company in the lawsuit, Whitefield Power And Light Company, has an existing power contract.
“The existing wood plants appreciate the efforts, including those of the governor and other state officials, that produced the settlement supporting the continuation of the existing wood plant and forestry jobs and related economic benefits to the North Country. We look forward to PUC approval so that these jobs and benefits are sure to continue,” said Michael O'Leary of Bridgewater Power Company,
Testimony submitted by Thomas Frantz, director of the electric division for the PUC, said PSNH will purchase energy from the facilities at fixed prices and the contracts include a fuel price adjustment. Frantz placed the total above market costs of the power purchase agreements at about $24 million. PSNH would recover the cost through its electric rates, with the average household paying an additional 55 cents per month. PSNH is not required to purchase any Renewable Energy Certificates from the IPPs under the agreement.
"We are pleased that all parties were able to resolve outstanding issues so that the Berlin Biomass renewable energy project can now move forward to the economic benefit of the North Country region and the state, while also providing a basis for the existing biomass plants to continue operations during these difficult economic times,” said Gary Long, PSNH president and chief operating officer.
The settlement agreement calls for the IPPs to withdraw their Supreme Court appeal once Cate Street Capital has met the necessary conditions for closing on its financing. The entire agreement is conditional upon Cate Street closing on its financing by Aug. 30.
Cate Street Capital officials declined yesterday to comment on the agreement, saying they had agreed to allow the governor’s office to release the news.
Construction of the biomass plant is expected to take over two years and employ about 300 people at the height of construction. Grenier said Cate Street has agreed to use local union workers as much as possible and has already signed up some apprentices. Once the plant is operating, it will employ 40 people plus create hundreds of spin-off jobs in the forest industry.
While he said the entire region will benefit from Berlin Station, Grenier said he believes the city is the biggest winner because of the property taxes the plant will pay. The city has negotiated a payment in lieu of taxes for a minimum of $34 million and as much as $43 million over the 22-year life of the agreement.
.
what is PG&E
When are we supposed to get a PPA decission on the revised agreement.
That would be nice however the min list price is .25 for the BX Venture Market PAGE 8.
http://www.bxventure.com/digitalAssets/74/74500_34-64437.pdf
LLEG has a way to go to get their. First the OTCBB would be nice.
AND LETS GET OUT OF THIS MESS!!!
Actually i think the new coporate structure for Berlin is really simple to understand. I too have seen much more complex structures for deals.
I would suspect that we get a press release tomorrow. The market needs a couple of days to digest their (LLEG) response.
Do you have a link to the new CC
This is now starting to sound more and more like someone who has a grudge against LLEG. These issues seem just like a misunderstanding.
I beleive it's a person who couldn't locally get support for his cursade, so he tried the SEC.
Why wouldn't the sec just investigate if it was broker related.
Don't like this have a large % in LLEG