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Anyone think the Wed morning PR is to give us momentum into another PR later this week?
Same here. The only reason I think Bayer maybe shopping is that relationship has hit the rocks as of late. May be just some personal matters, but I still think Bayer is shopping. JMHO
They are flush with cash and we have not heard much out of them. They seem to be the only one not gobbling up people. Anyone with conflicting info?
Does not sound bad. I still think Bayer is probably our best bet if for a buyout.
I was just running some theory earlier. The R/S meeting could kill two birds with one stone. Although it is a stretch.
They delay to buy time knowing they have some good looking numbers from the trials. It also acts as a defense against a hostile entering the scene till the get something on paper.
If Abraxis likes the numbers I think a partnership could look very strong and might be the option that is put into place. A couple hundred million. Retire the 2009 notes by paying out cash with some of the cash as a condition for partnership and we are off to the races.
Smitter,
Looking at this price action we may not get any movement till a huge bam. This is looking more to me like someone is trying to buyout. Looks like they are trying to grab as many shares as possible before making an offer.
May be reason for threat of R/S and meeting again to attempt to ward off any hostile action before they can do something on their own.
I would agree. This confirms a dig in and hold for me.
That is big. We should be having offers rolling in.
Holder,
You have been saying this for months now. What happened to the first R/S meeting?
Can you guess what will happen this second time as accurate as you predicted the first?
Just curious if you cleaned the crystal ball or if something else screwed up the reading.
Yeah and if we are not careful we may get it just like in 2008, no lubrication style.
I am taking up a collection. If we may be able to buy another CEO for $5 if we give him some convertible notes also.
I have thought this also hoops. This is exactly why they are giving such a broad range on the ratio.
Regardless I think Ray should not be CEO. What is worse is he was voted in as the Chairman of the Board also.
Long story short I do not see Ray and some board members being able to stick around in the near future. Unless they start producing.
Not really. He has never been right on one yet. Guessing is one thing, actually knowing what is going on is something completely different.
Actually it is Ray that is the last kid to be picked for dodgeball LOL.
Been awhile since I really dug deep into it.
Let me see if I remember correctly. Correct me if I am wrong.
The notes will be affected by the R/S according to what the company is putting out. However the anti-dilution part is the fact that to do a R/S over a 1:50 ratio the company needs the 2009 note holders to approve it.
I have not done the exact math. But you can see they are trying to limit additional shares hitting the market after they get theirs by having this provision in the agreement.
Anyone else have a view here?
I had a position but sold too early. Made a good profit.
Alan is a great speaker and after listening to him more I will take some profits if Genta pays off and buy back in. Also looking to take another position into Dow in the near future.
Both companies I believe have positioned themselves very well for the next big global economic push.
GN and GLT
I would agree.
Solid business planning would have avoided a big part of this mess. If they would have put contingency financial planning in place in case of denial they would not of went to these convertible notes. They could have had more cash for less dilution. With proper planning the business would have cash and the stock would be less of a manipulation target with a lower float.
SIDE NOTE: Look at Ford's current management if you want to see proper business planning with contingency finance planning. Their current CEO is the one who took all the current measures that have kept them out of BK.
No offense.
But what turnip truck do you think we fell off of?
Personally I would be surprised if management is working out a deal at this point. I stay in this for the chance and the fact that long term there is still money to be made.
This is the whole problem, in my opinion the CEO needs to step aside and someone who can run a corporation needs to come in from outside. The board of directors needs to be replaced for not doing their job and holding management accountable.
The threat of BK almost makes me laugh. I know they have had offers come in, the grape vine is loud at times. Now what do you think a judge in a BK hearing is going to say when shareholders show up wanting to see these offers that were unacceptable? LOL
Fact is that yes the secured debt holders have senior rights but shareholders can present their case at a BK hearing. Even though they are last in line they still have rights. How is he going to explain filing for BK going against shareholders when he had offers on the table to keep them in business. The judge has total discretion and is obligated to do what is best for investors.
Anyway enough with my rant. Good pipeline, horrible management and board.
I agree with Hoops. We are on a ship with a crew and captain that are not navigating very well.
This is why if the R/S goes through there will be a shareholder lawsuit. It is sad to say the least but unfortunately I believe it is necessary as the board is not looking out for shareholders.
Personally the fact that we are not having inked any offers with a company speaks volumes for the business skills of management.
JMHO
We should have good news before this meeting for the shareholders, that foot has already been planted.
This is how. This is how they should have done this in the first place.
Posted by: ryan128 Date: Sunday, May 31, 2009 3:27:41 PM
In reply to: None Post # of 26860
The way Genta should have done their financing.
A secondary offering although costing more to do would have brought in more $'s and Genta would not be in the position they are in today.
Why did they do convertible notes? It was a way to get quick cash that they could personally make a killing on it along with select others.
A little math:
3 billion shares sold as a secondary offering at .01 brings in 30 million minus fees which can be paid as discount shares.
Now if they did a R/S and phased the shares in they could have sold each share for way more than .01, more like $1
So you have to ask yourself. Why would they do convertible notes? To line their pockets in my opinion.
Just because it is the popular thing to do does not make it the best thing to do. So why would you approve an R/S for notes that they took part in? When we could have done the same dilution and been flush with cash right now.
This in my opinion is one reason why we do not have a partner or a buyout. Management has zero motivation to make such a deal happen.
Not surprising.
After all our board and management thinks these convertible note deals are great.
Thats why they entered into another one. Instead of having a second offering and putting a lot more cash into the companies coffers.
We could only hope for a hostile takeover by the right individuals.
Management has been something to be desired here. And frankly with some of the financial decisions being made I don't think our board knows what they are doing.
I agree.
I am for one not impressed by managements little games with the PR's.
They need to get back to work and find some solutions to Genta's problem not wasting time putting out marginal PR's.
Maybe they know something we don't. Genta has also been removed from key upcoming events on the sites calender. I know they were listed on there before, cause someone posted it. Genta was listed as completing their phase 3 trial for genasense in the fall.
They do still have Genta in past events in case someone thinks they just don't know Genta. LOL
Strange.
Interesting.
CLL same thing.
Teestaxel same thing.
Although its just a website. Maybe something to that.
The way Genta should have done their financing.
A secondary offering although costing more to do would have brought in more $'s and Genta would not be in the position they are in today.
Why did they do convertible notes? It was a way to get quick cash that they could personally make a killing on along with select others.
A little math:
3 billion shares sold as a secondary offering at .01 brings in 30 million minus fees which can be paid as discount shares.
Now if they did a R/S and phased the shares in they could have sold each share for way more than .01
So you have to ask yourself. Why would they do this? To line their pockets.
Just because it is the popular thing to do does not make it the best thing to do. So why would you approve an R/S for notes that they took part in. When we could have done the same dilution and been flush with cash right now.
I know this is not a news flash. But most professionals are not worth a crap at picking stocks or running a business that produces anything. If they were they would all be filthy rich and they are not.
Hey sykes how is that they can do a R/S without our permission story going for you in other boards. Its a good thing you are not studying corporate law. Cause you pretty much suck at the facts.
For the last time. THIS ARTICLE HAS NOTHING TO DO WITH GENTA. IF YOU DO TEN MINUTES OF RESEARCH ABOUT GENASENSE YOU WOULD KNOW IT IS NOT A VACCINE.
GO PUMP SOMEWHERE ELSE. (Not directed toward you bio. I am sick and tired of hearing about an article that never did and never will have anything to do with Genta)
I am tired of seeing this stupid article all over Genta boards. Read about the company before you INVEST! Where does it say Genasense harnesses the immune system. For the love of god, I am tired of idiots posting this article and trying to act like it is about Genta.
Could go either way. If they have some crazy news then the price hits above .20 cents we do the R/S the pps stays up and everyone is happy.
Or it could be since they have a .002 converting price on these they just want to take their cash and run before an R/S. The management not taking part in it I believe leans more toward this scenario. The reason is to try to not make themselves look bad for the lawsuit that will be coming. JMHO
Really it could go either way. I am still on the fence, fact is we do not know how many converted shares they are holding.
I know one thing the PR's have absolutely sucked lately. And management does not appear to have any motivation to make a deal with anyone. Hopefully they prove me wrong.
Gary,
All they did was amend the agreement to accelerate the notes. That was the only amendment in the agreement.
In and of itself all it means is they can convert the notes without restrictions now. As to what they have planned with their conversion, who knows.
There is only one problem and hole in the story. He keeps saying Genta wants to pay these notes in shares this is why it will go over .20 cents. And then he says there will be no R/S it is all a game.
Well the problem comes in the fact that they do not have enough authorized shares to force conversion when this hits .20 cents for x number of days. So how are they going to avoid a R/S.
Not trying to be a bummer, but people need to take the blinders off when listening to people sometimes.
Genta has already stated their intention to file, so that is a yes. It generally is a 6 month process which starts with the company submitting an intention to file. So this would line us up with around the end of the trial. The EMEA has several meetings with the company and steps they go through in their submission process.
I would not hold my breath on early approval. Although this could be possible, I would not base any investing off of it.
That is a very very very good point. Thanks for pointing that out I overlooked that.
So at a min. I would expect another pop.
It states that them and I believe another officer were not including in the accelerated conversion. In the amendment. If you look at the summary on yahoo I believe it is in there.
This could go either way smitter.
One thing we do not know is, who has those shares?
Where all of the noteholders shares dumped on retail? Or did they just get their investments with some take out. Kind of like flipping and holding along position.
If they have control of alot of the shares converted we may have some very good news. What do you make of the officers not being involved in the accelerated converting of notes?
I would agree. It is either really good. Or people want off a sinking boat. Hopefully not the later, I have counted the life boats. We will not all fit. LOL
Although it could be good if they want to take part in something coming with the rest of these notes. Lets hope.
There is the other PR. It in my eye's is not good. It lifts the conversion restriction on the 2008 notes. Anyone else?
Why would they not just sell the shares directly to the market and be out of this financing for about a billion and a half shares?
"They are not a financial institution, they bast Genta could to is issue shares in the form of compensation to its employees as a way to mitigate cost. They have done that in a from of 55m shares issued to Genta workers for services rendered . "
They are legally able to do a R/S and a second public offering. If approved by shareholders.
Yes it is premium space that Genta paid for to help them market the company. Nothing more nothing less. They may have it organized into sections of specifically what they are presenting.
But at the end of the day the booths are rented by the companies.
Genta may be strategic in where they wanted their booth. However with a company as big as Bayer the people working their booth probably are not looking to buy companies. They are most likely there to present Bayer's material.