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I sold Genta to cover other losses in my portfolio. It doesn't mean I don't have more capital. I still have more capital. I have a lot of capital that's designated for Genta once they get their finances squared away.
Maybe I don't have a clue,
But I know what $100,000 in profits smells like. ;)
If that's being wrong brother, I don't wanna be right.
TAKI, according to the latest Financial agreement from the company, they HAVE to do a reverse stock split in order to receive the remainder of the original 12MM financing agreement (6MM).
Recent 8-K filed pretty much confirms a R/S as a stipulation, that is unless they don't want the money.
"The 2009 Notes include certain events of default, including a requirement that the Company effect a reverse stock split of the Company’s Common Stock within 105 days of the Initial Closing. There are currently not enough shares of common stock authorized under the Company’s certificate of incorporation to cover the shares underlying the 2009 Notes."
Do the math. The initial closing was on April 2nd. Genta has a burn rate of 2.1 million dollars per month, according to their presentation at the 2009 BIO CEO Investors Conference.
At what point will Genta need to go back to the well for the remaining 6MM dollars?
Yep, that was after my initial buy at $3.24. That initial buy-in came with my profits in Genta.
I'll send you some pics ;)
Hey, make fun if you want.
Being in a stock that is up over 500% since March with 20k originally invested...well...you do the math.
Thanks!! :)
Son, I've got
...20 grand worth of stock in BAC at an average pps of $4.01 dollars. I'm not fighting anything. In fact, I'm about to book a week long vacation in Negril.
Yes, and horrific finances.
Smitter...
...honestly? Your guess is as good as mine. In my opinion, there are 4 things right now that can move Genta upwards. I'm sorry, 5 things.
1) Partnership news on the way
2) New financing agreement that will exterminate risk of R/S
3) Tesetaxel SPA agreement between Genta and FDA (expected)
4) Initial wave of Agenda Results coming through...people looking at results aren't stupid.
5) Pumping and momentum
I'd say the first 2 are the least likely.
The 3rd is pretty much baked in, but this is Genta land and we know how it can bounce on expected news.
#4 is very likely in my opinion. The timing is about right, isn't it? Isn't there something happening mid-May? I believe there is.
#5 just plays in to #4.
Very nice movement again in Genta. Hopefully this movement is followed up with news regarding #'s 1 and 2.
This is insane volume...
...wow.
No, I didn't realize that.
Today's action was interesting. I was in an off-site all day and didn't have much ability to post. I did watch the movement, which was impressive.
It was a good day for Genta shareholders, no question about it.
I'll be looking to get in big here once their financial situation is shown in more light.
Genasense is a winner.
The time during which employees and other early investors are prohibited from selling stock in a newly listed company. Investment banks that bring the securities to market establish lockup periods to protect investors in a new issue from large insider selling that can have a major price impact because of a relatively small number of shares available for trading. Lockup periods are usually 180 days from the date of the initial public offering.
Lock up period ended.
Nice day for Genta!
Looking at the trading pattern, it appears they cut the faucet off on the dilution, for now.
I don't think it's "done for" per say. I think if anyone has a position, they'd be wise to take their money out before a reverse split happens. By reading the current financing agreement, if Genta wants the other half of the 12MM, they have to enact certain events by default; one of which is a reverse split of the company stock within 105 days of the initial closing.
Read the latest S1-A.
Using the burn rate communicated during the 2009 BIO CEO Investors Conference in NYC a few months back, which was 2.1 million per month, Genta will run out of the initial closing financing of 6MM around the middle of June. They can initiate the reverse split at any time, however. They won't wait until the very last day to do it either.
Is the company done? Nah. I think it will be successful. But to hold a position through a reverse split and dilution is just irresponsible, especially if the results from the Agenda Trial won't start trickling in until around September/October. A financing solution will have to come into play 3-4 months before we get there. Let them work it out without your money on the table. You should be in this for the drug, not to pay someones compensation.
My advice: Take your money out and buy back in after Genta squares away their finances. The ruling on Genasense from the FDA won't come until next year. Between now and then, they'll have to take actions that will negatively impact shareholders (under their current financing agreement).
What technicals? How much do you know about what's going on here with Genta?
Exactly. Throw your charts away.
Can you factor in reverse splits and dilution into your bullish charts?
Wow, what's going on over here?
Interesting thought, sashex001.
If that's the case, then I think we should wait until the previous 20MM is released to get too excited.
What you are saying could very well be true. I admit that I haven't looked at that 40MM agreement in quite some time. I do remember that arrangement recently being ammended...but again, I can't remember exactly what it said. You'd have to refresh me. Look at a fairly recent 8-k.
Good thought, though. Let's see how it plays out.
I've said before and I'll say it again. The big money won't be made on a financing deal with Genta, not even a partnership. Sure, there will be a pop. But big money will be made when this drug application hits the desk of the FDA and they approve it.
That being the case, it would be wise (in my opinion) to let Genta get their finances squared away before getting in too deep here. There is too much up in the air and there will be plenty of time to establish a very good position in this security, post-financing arrangements.
It will be Genta's turn after the reverse split and impending dilution. Then after that, you should get in and get ready for Agenda results.
I wouldn't look to enter here for at least another few months...sometime when college football is about to kickoff.
LOL...ZERO.
$12.95 AH Close...wow
The problem is, they'll be out of money before the 105 days is up. They can put this reverse split into effect at any time.
You'd better wise up.
Wrong.
I'd get out before the reverse split if I were you. Not that many trading days left to do so.
If it's anywhere around 10B, BAC will rocket north
Without funding they would've gone BK. I prefaced my statement properly and said "otherwise". It was circumstantial. If they hadn't gotten funding (even rotten funding like they got out of desperation) they would've gone BK, as stated in their S1A.
I didn't just flat out say that the company was going BK no matter what, which is the way you quoted me.
I never said...
Genta was going BK. I NEVER said that. Quit putting words in my mouth.
And Genta can very well conduct a reverse split no matter the outcome of this voting.
How do you expect them to obtain more financing? They'll be out of money in less than 20 trading days with no other options on hand.
They'll reverse split whether or not the voters vote yes or no. They won't have a choice. If they want the other half of the funds, they'll have to do it to stay in business.
This is a joke...seriously.
I've held this stock and bought into the hype ever since .0045
Now even .001 seems like a pipe dream.
That's what I get for buying into the hype as a newbie many moons ago. This security is just sitting in my portfolio dead.
It only makes sense...
...get your money out and let Genta figure out their finances. You can always get back in it when things work out. The big money won't be made on a new financing deal, it will be made when the drugs are ruled upon by the FDA.
There's no shame in getting out of your position here. You don't have that many trading days left before they put the reverse split into effect.
Let them do their thing, then buy back in once it settles out. It will settle out months before you hear anything on the Agenda Trial.
I think he would be a great moderator.
I submitted the request.
If iHub takes time to review all of my posts, they'll see that I am the best candidate for the role.
I think anyone who cares to read my posts objectively will see that I'm big on the drug applications and questionable at best on the financial straits.
It would be good for the board, in my opinion. I'm willing to post the facts just as I always have. We have one moderator who is on the kool-aid side, we need one that also presents the downside with facts.
It would be healthy for this board.
I'll take it! It would be a nice balance of power.
No Conversion of Preferred to Common:
http://www.cnbc.com/id/30508096/for/cnbc/
1) Financing will have to be in place waaaay prior to any ruling from the FDA on Genasense.
2) If financing comes, you'll see a pop, sure. You may pay a premium at that price, which I'd be willing to do PERSONALLY.
3) The real money will be made on Genta when an FDA or EMEA ruling is handed down on their application. That won't be for some time. It will be many months and Genta will need financing well before that happens...they'll need financing within about 20 trading days.
Unless you believe Genta will get a drug approval within the next 20 days, you'd be wise to get out of your position until you hear something on financing that will get them through the Agenda Trial.
The real money will be made with a ruling on the drug, not on financing being obtained.
Alright lady, whatever.