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Most likely yes.
More crap floating in here than the toilet. People talking about 3.4 billion O/S and saying Ray stated more dilutive financing to come after this round.
Are they dreaming this stuff up?
I am claiming fraud? I have not been posting much at all except the last couple days.
You need to learn how convertible notes work. When they get the money has nothing to do with the notes being converted.
Again ask yourself why they are concentrating approval through EMEA first and not the FDA.
Other than that you are helpless.
Here is a hint look at EMEA process and why Genta is concentrating there first.
If you have been investing in Biotechs for twenty years I should not have to point this out.
Second note holders converting their notes is going to have no affect on burn rate. Genta can not spare the money to pay the interest in cash.
Pretty obvious you need to do more DD.
I know you did not read the post. Do not.
It will make you stupider. All BS.
Seems to think the note holders converting would have an affect on burn rate.
Just like all his posts, print em, wipe your butt. That is what they are good for.
Your time line is extremely off.
I am not going to waste my time explaining, do your own work on how this review is going ahead.
I would agree.
Anyone that would short for the fall is foolish on this one. So much attention and little float is going to lead to pressure on the stock. Couple this with any news at all is going to put far more pressure on this stock for upward movement than it could have before.
We will at most have a short term drop in price. Then this think starts its climb as more and more people want in before Agenda results. Only difference now is a lack of seats.
Can not make as much as before on the gamble but you can still make some pretty good dough by holding and adding on the dips on this run to the finish.
If we hit numbers that were show for the same biomarker in Agenda we will beat the immunotherapy group.
According to the article 4% to 7% response on immunotherapy. Genta according to the data Agenda was started off of had a 10%.
That is correct right?
It probably will due to people not seeing the big picture.
We are all here for approval. So if the share structure is less than 250 million at approval, which it will be if they get it this fall or first thing in the spring.
It is easy for this thing to reach 4 dollars or more on a spike. Then probably settle right around 2 dollars. So why sell what you have losing money on the hope to buy in lower.
This is why it was and is important to keep one position and capital to add in if it dips.
That is all if you are here for approval.
Why do you think the bashers are in in this hard? They see the same thing as above in the post.
Gary,
It is in the SEC filings. I believe it is in the proxy for sure. It states that for Genta to do a reverse split of more than 50/1 or less than 25/1 they need 2009 note holder approval.
Why? Anti dilution? Do they think this is the most acceptable share structure?
I do not know.
Simple, they could not do it.
The filings state that Genta needs note holder approval to R/S above 1/50 ratio.
I am happy I road free shares into this.
Remember Ray put out he was pursuing non dilutive financing and then in April bam, dilutive financing.
Ray stated he would put off the R/S as long as possible and do it along with good news. If no good news I will take my free shares and move on.
Although Ray put out in SEC filings what they would do he has made statements in CC to make it seem things are being done.
I think for this reason this thing tanks and never recovers. I also think that he is not telling the whole story and this is why they want the protection of the sealed order.
Time will tell but if no news Monday or at the R/S this company does not recover unless they get approval.
Nutriman and I do not always see eye to eye on everything. This should be enough for everyone here to see what these clowns stances are and why they show up at the times they do.
I like his last response to your post. Somewhere there you struck the nerve I was aiming for and his true colors came out. Congrats.
No I mean it is sealed.
As in you can not see who they are doing business with on the notes. Considering the 2008 note holders were used to push the vote over the top, do you think they won't be forced to open this by legal action?
I think it is safe to say more legal fireworks coming their way.
So how many think Genta is going to be able to keep their financing sealed?
Your crazy. LOL
I am on free shares so what everyone does is their own decision. If nothing comes out with it and you all want to screw with the note holders and management do not buy it.
Put word out on the street, make the stock fall to .10 or below.
Then they make money off of shorting it but not selling the shares on conversion.
So beat them at their own game. They make money off of shorting it and you get the same discount.
It will trade on Monday and Tuesday.
I believe a lot of people are waiting for that I will release good news before or with the PR as Ray had advertised.
I do believe this was to just get his way. I think you can still make money, but the managements handling of the R/S will scare a lot of people away.
I think this thing will collapse hard and fast.
I am predicting it gets really bad before any approval or good news.
Lawsuit will be coming due to the sealed documents and the way the R/S got approved.
I say the bottom drops out of this, it will take a gut of steel to hold.
I think it drops below .01 within the first week of dilution starting. Nobody will want to buy this thing after two deals like this in the less than a year.
Sounds good. I will hold and add more if the time presents itself.
Well that is because Ray took part in this one too, along with the rest of the note holders from 2008.
Can you see the lawsuit being filed as we chat?
The SEC is going to look pretty bad for sealing that if this is the case. Something tells me this could really turn into a PR volcano for both them and Genta.
Still a good hold and wait on this one if you think they will get approval. If they get approval we should have less than 250 million shares at time of approval as long as they get it with Agenda.
Anytime information is put out to a select few without all having the opportunity to take part it is insider information. This would be a reason to halt trading of the stock, if they were to put out information in the meeting such as vote count etc.
And Holder needs to grow up a bunch with his posts. I highly doubt he would act the way he does on here to someone in person.
Even though it is a public meeting just like a CC they must put out a pre PR. This way everyone has equal opportunity to get the information at the same time.
In this event they would have halted the stock.
Also the 4.8 O/S sounds fishy. This was the count before they approved acceleration on the 2008 note conversion. So nobody converted early?
Anyway it will probably get R/S, but that post is SHIAT
LOL If they are it may be a long meeting for BIO.
I wonder how many people would love to meet you in person. LOL
Yeah its called a halt on the stock at the beginning of the meeting.
It will open back up once the PR has been posted.
Most likely any PR will come out post market Friday or Pre market Monday with results.
You completely missed that didn't you.
Has nothing to do with not understanding as much as it has to do with giving shareholders the hammer with them profiting in either case. Yes this would go towards defrauding investors.
I will go get a case for you.
News flash though, BK Judges may do what they see fit, period end of story.
Everyone has a right to present. And the BK law is really open for loose interpretation.
What do you think the chances are a judge would let Ray his Wife, other management that took part in the notes just walk out with the rights after giving investors no other options. I like my chances. :)
So now that we have this scenario I have to ask.
What happens when the BK Judge looks at all this and makes the SEC unseal the financing agreements?
I know you do not want to hear my take.
Honestly I think he finds it a violation of fiduciary duty and wipes the liens out giving the assets to the shareholders. It has happened before when CEO's along with other management has tried to screw shareholders.
Forgot we would have to share with the real estate owners that have a lien on Genta also.
Do some more research please for your sake.
Everything is not cleared through the DTCC. If you have a dishonest broker and he is banking on the stock going down he sells IOU's direct to others not through the DTCC.
Nothing illegal about it except for the fact that he does not cover the FTD's.
So in essence they are trying to keep some one from guessing float numbers and selling IOU's or NS as most people know it causing more supply than demand.
What is the advantage to this? He buys the legit shares at a lower price and never borrowed anything.
Not everything has a visible paper trail to outsiders, cause everything does not clear through the DTCC. Happens all the time, in fact the reality is that a lot of FTD's that even clear through the DTCC stay outstanding for 50 plus days. They do not advertise this.
http://www.businessjive.com/ Link to help explain it, sorry it is long and you still will probably not believe but I tried to inform you.
There is always a flip side to every coin. My personal guess is they are selling shares that they will buy back later at a premium from the purchaser as a short term loan to fund new large orders till they get the accounts revolving. I think the earlier buybacks support this theory, but it is a theory.
They do not want the less than honest brokers to know the amount so that they do not flood the market with NS shares not cleared through the DTCC.
Nutriman,
I did talk to him. He did not go into anything that we did not already know. Fact he can not give out anymore than we already know.
Why are you trying to make it sound like he gave you the real deal inside scoop?
Either it is the only option or they want a parachute in case any talks go into a tail spin.
Partnerships do not take 5-6 months to finalize. This is completely dependent on how fast the parties can agree on the terms and the paperwork is wrote up.
Gaging the TA happens all the time to try to prevent illegal manipulation.
And we have a winner. Dubai Import and Export is a middle man. They take on international products and distribute them to third parties. Major chains and mom and pop outfits do not handle import and export of foreign products, thus the need for specialty import and export businesses.
The reason why he thinks they are not real is cause they do not have a name like coke etc. He needs to do more digging. They do not advertise, they do not need to, businesses come to them.
LMAO have fun in your world pal.
Dude I just got off of a contract for them doing some stuff last fall. Nice try guy.
Um yes it is. I have done regional work for them before on a contract basis.
That would tell me that there is a joint venture in the works or they are using stock to make an acquisition. I read some of your earlier posts. You seem pretty negative. Possibly a little over the top.
Costco signing on will negate that 99.5 % you had referred to.
Also the overseas sales does not bother me. Dubai import and export is a major company serving all of southwest asia. You are right the are not a major retailer. They are a major regional import and export distribution giant.
Good luck trading and thanks for the response.
Just doing some DD on SPNG. I have noticed that SPNG is buying back shares by going through the SEC filings. Now what I have a hard time grasping is the fact that the company has increased authorized shares also.
Why would you buy back shares to put into the treasury and then increase the authorized amount of shares? Are they looking to fund some project at a future date? Are they planning ahead in case they hit a bumpy road? Anyone?
Although a touching story I make no disguise of why I am here. And that is to make money.
I like many other people have donated money and time to help others.
Genta is a business plain and simple. If Genta goes under and the drug is worth it someone will buy it. In the end businesses must make money and not look for donations. If they wanted donations they should have become a non-profit.
Technology is bought from lien holders and BK companies all the time if the technology is all that it is cracked up to be. The myth that a business going under has robbed us of some technology is just that a myth. BK proceedings mean to come to an agreement for the liquidation of all assets to include technology. So as you can see technology is not lost like some may have you believe.
So I say again, I am here to make money not volunteer my time or money, this is not a charity.
Suck, did you get it covered? How did it fair?
I must apologize to everyone. I had some rumor and unfortunately only put it up on the yahoo board just before takeoff. I am not predicting or holding my breath but grapevine rumor that news may come this week. Sorry.
Thanks Nutriman. I have the office number and office email for his office in Summit.
I am giving him a chance to email before calling on the phone again.