I really like this. I usually stay away from stocks under $1. But the more I read about this the better it looked.

I'll keep doing more DD, but if it stays this low I may go really long on it. Even if I'm long, I'll still trade it some until I recover all of my investment.

Well, yes and no.

I am not a day trader. I'm a position trader in small developmental biotech companies.

Basically what I do is find a stock I want to invest in. I then decide what price and how much money I want to invest. I start buying at that point, trying to get to my target number of shares. Sometime I do it in one buy, sometimes it takes many over several days.

Once the position is established I decide on how many of my shares are "core holdings" and how many are "trading shares". I have several per-planned sell plans. I usually set up my trading shares in one of the plans.

So here I had about 1/3rd of my share on the trading side. I set a GTC order in at $20.90 about a month ago. Monday morning, when the news was announced, I noticed that the reaction was muted in PM. So I just left my order as it was. If it had really jumped I would have pulled the GTC order and moved it higher, based on how much jump we were seeing.

By the time the market opened I was busy doing something else. I totally missed the morning spike over $21, but since my order was still there, it executed at $20.90. So my trading shares are gone for now.

If this drops back, say to below $18, I may buy the trading shares back. If not, I'll hold the core stuff until I'm ready to start selling. If I sell, I'll do it slowly now.

Looks like this was approved under a Humanitarian Device Exemption (HDE).

FDA Device Database

as a result of this Clinical Trial:

Safety and Feasibility of MR-Guided High Intensity Focused Ultrasound (MR-HIFU) Ablation of Osteoid Osteoma in Children

Trial started January 2015 and currently listed as "Active, not recruiting". There is an article listed near the bottom of that link. If you click on that article, then in it click on Similar Articles and Cited By, you will find a lot of information related to this type of treatment.

I just took a quick look at some of the information in those links; you will find a lot of very good information. One that I liked a lot is here:

Magnetic Resonance Imaging-guided High-intensity Focused Ultrasound Applications in Pediatrics: Early Experience at Children's National Medical Center

Although clinical experience in pediatrics is relatively small, the advantages of a completely noninvasive and radiation-free therapy are especially attractive to growing children. Unlike elderly patients, young children must deal with an entire lifetime of negative effects related to collateral tissue damage associated with invasive surgery, side effects of chemotherapy, and risk of secondary malignancy due to radiation exposure. These reasons provide a clear rationale and strong motivation to further advance clinical utility of MR-HIFU in pediatrics.

Nice information. Will love to see what the company says about all of this. It may force me to change my current thinking on this company. Currently I'm using a 2/3rd Core, 1/3 Trading position. Might have to stop trading for a while.

Shout-out to hayfarmer for the tip on this company. Been trading it for a while and have done well. But this is looking even better now.

Looks to me like it came out just after 4 pm.

I'd expect a PR Monday.

I'm going to do more follow-up this weekend. If I find anything, I'll post it.

Found this tonight while reviewing twitter feeds. Had not seen it here:


FDA Approval

Started new position here last few days. My DD looks decent. I'm a person who buys a position for trading and for keeping a core position. I will trade the ups and downs. Goal is always to have a decent core position paid for in full with the money I make for trading.

Looking forward to seeing what is going on here. I think this has a chance of a 2x to 5x increase in the next year.

Found this off a twitter link. This looks similar to the technology here, but is it? Some expert opinions would be helpful:

Trial

It is trading now. It started around $10 and I increased my order to $9.90. It executed almost immediately.

One more note- I put the ticker on my TD-Ameritrade streamer. It comes up the same. But in the News field it shows news for some old Oil and Gas company, with the news dates being 2012-13.

They must be adjusting something. The ASK is now over $1000 and increasing. I guess it will take a while for the trade to go through.

EDIT: Now it settled on an ASK of 15.

I was trying to buy this morning and saw the change of the ticker and NASDAQ listing. The new PROF was automatically change on my E*Trade account. I entered the order and it is out there 400 @ $9.70. Bid/Ask is currently $9.70/$20. I let you know what happens. I'm not paying $20.

One of the reasons I've been buying is I love stocks that I can acquire in "Stealth Mode", meaning that it is hard for people to find the stock message boards and the tickers are screwed up. That is gone now, and things will get real. This has some real possibilities, and I just love this type of opportunity.

Hoping I can get those shares. We'll see.

Yea, I see that. Can't even think what will happen if we get some real volume.

Problem I'm having today is I have about 5 or 6 companies that I want to buy, just have to figure out which will be best. I think this is one of the buys, with the NASDAQ listing possibly coming in the next 30 days. I just love the action here.

It showed up in my e-trade accounts today with the ticket instead of the number. It appears to be tradeable, though I have not attempted to buy or sell under the ticker yet.

I have it on my streamer and was surprised by the jump in price on just a little volume. As of the close today, we traded about 13,900 shares, which is more than normal. The price was up $1.02. Since the R/S the volume has been much lighter than that. It makes me wonder what any real volume might bring. Does someone know something or is the ticker showing up just letting more people get in?

I want to pick up some more shares under $10 for trading. I really think the NASDAQ listing could cause some movement, even if it is just temporary.

Looks like the Ticker changed today to PRFMD. Both of my accounts where I hold this are showing $0.00 using the old Ticker. Sometimes it takes a day or so for the accounts to catch up.

One thing I noted was the the Name of this board is Preferred Medical Corp. Is this a new name or is this just a mistake? Everything I see is shown as Profound. If this is the case, can a Moderator (do we have one?) get the name changed. People searching on the name might not find us if the board is named wrong. I'd expect that we will see a lot of people looking for information in the next few weeks.

The current price I'm seeing under the new ticket is $7.12. So it looks like everything is moving along fine. If it drops due to the R/S, I'll be adding.

I think that this will soar with the NASDAQ listing. It may take a while for the news and information to get around, but in time, the market will value this for what it is worth.

"Anyone here profited from reverse split in the past?"

The short answer is Yes, sometimes it works. I all depends on why they are doing the R/S.

Here it does not bother me. In fact, when I started buying this a few weeks ago, I actually expected it. They have too many shares out.

They are doing this to get listed on NASDAQ. That is a great reason. While it might take a hit short-term, if the rest of my DD is correct, it will eventually correct itself and move to the right price.

There have been a lot of companies (small bios in particular) that have done this this year. Generally, they have not tanked, if you look at the stock a few months later. Some have floundered some, but generally they have held or moved up.

This is a long-term hold for me. But if it can get listed, it might spike and change my mind. If it has less than 12MM shares out, that is almost not enough. With that small float, news can sometimes cause a real spike.
GLTA

New here in the past couple weeks. Thanks for the heads up to the guy who tipped me. I've started buying. Will add more as things get clearer. For the record, I'll try to establish a core position and a trading position. I expect ups and downs. I'll trade them.

Reviewed the latest filing this morning. Was glad to read all about the effort to get listed on NASDAQ. That matters. The filing does not bother me much. It appears to be a shelf filing for future shares and was done in preparation for the NASDAQ filing.

This company will need some more cash at some point in the future. So any dilution is expected. That is the nature of investing in this type of company. But the company looks good and I think it really fits my speculative biotech portfolio to a "T".

Good luck all. This should be a winner. Just might take a while.

Remember, they are trying to sell the company outright. So there is an incentive for potential buyers to try to keep the price low.

It needs to get through $2.50s with volume. Then the shorts will have to start covering.

I think it goes to the $4-5 range before a deal. Deal will be at 2-3x price at that point. I'm calling a deal at $10.50.

Well, it looks like there is some justice in the world.

Now are any of the attorneys out there going to go after these three on behalf of the other investors who lost money?

Looks like a slam dunk case to me.

Those of us who have been around a while at least have some reason to be encouraged. The way I see it:

1. Hints that things are moving forward.
2. Unexplained increase in volume after a dead period.
3. Price movement- up.

4. Web site updated and ready to go.
5. A couple of press releases to get info out about what is planned.
6. Some kind of promotion.

So that is three steps done and three to go. Some will say #6 smells of Pump and Dump. But we have to do some type of promotion to get the word out.

I also look for the authorized to be increased at some point.

After holding this as long as I have (and averaging down a lot), I'm just happy to see anything happening. Hell, I can't sell. I own so many shares I'd tank the price forever.

So hang in there guys...hopefully better days are coming.

Sure would like to see what would happen if someone wanted to come in and buy $10K worth of stock. Looking at level II, it just might take it to $0.50.

Well, they have been up to this for a long time. I've been in for 21 years. There is money to be made trading this, but if you want to go long you must be ready to just buy and put the shares away and forget them.

In the past I've seen this go to around $10 a couple times. I made enough money at those levels to last a while. I'm currently in, having bought a ton (several tons actually) when it dropped to the low 0.20's. My average is about 0.26 because of some shares I had at a much higher price.

I'd never short this stock. They are just to good at figuring out how to get the price moving. Sure, each time it starts to move either Max starts to sell or they do a refinancing and the price comes back down. But at some point I expect to see the price to start to drift up and not look back.

The trial does not really matter to me. I'll be long gone before it is finished. At my average, it be stupid to still hold any big position above $1. I'll hold some, but no where near what I do today.

The price has been drifting a bit of late. But the last couple days seemed to show strength. I expect something is coming. Crap, Big Pharma could buy this whole company for less than $300MM and we would all be very happy. Maybe that will happen some day. Or maybe we can just keep trading this...

WOW! 0.009!!!!

Never mind...

Looks like they are still pumping it. $2.5MM can go a long ways on a P&D. I played the first P&D for about a 40% gain and got out. Figured they would do it again a couple times.

If you play it don't get greedy. They are really pumping it hard. It should go up with each pump. But if you make a quick (took me 4 days on my 40%) gain, don't be stupid. Know what it is and play it.

Market Cap $100MM, yea sure.

The pump appears to be over (is that all they got for their $2.5 MM?). If it is, that explains the drop in volume. The play was to buy it as early as you could and get out just as the pump ended. I held it from a Monday at 10:30 am until Thursday afternoon going into a holiday weekend. I did not want to leave my money on the table over the long weekend.

I made just over 34%. Not going to make me rich, but if I take 10 grand and do that 10 times a year, it adds up. When you know there is a pump going on, you make the quick money and get out.

Might it go to $2? I don't know and don't care. I'll keep watching to see if they do Pump II. If they do, I'll jump back in.

If you are here for the long haul, good luck. But I sure hope you are not making that decision based on the pump information. That would be a mistake. But if you understand the industry and have some knowledge about this company, then you are ahead of the rest of us.

If you don't, I'd sit back and wait for it to drop and buy after they release some REAL numbers. Only then will we know what this company is all about. Until then, all most of us have is the pump information.

GLTA

Dude, I was gone last week. Pump and dump.

But made a nice 40% gain.

Thanks for the money to whomever got this going.

I don't think it is coming yet. It still looks pretty strong. I

look for it to get to the 2-3 range before we see the dump. Lots of trading to go.

It sure closed strong today.

It is a speculative stock. That is what they do. But the key is to buy low and sell before it peaks.

Company looks legit. I don't care. Just in for the quick ride. They will pump it to a couple bucks. I'll be out long before it tops.

If anyone is following the bankruptcy proceeding still, I'd love to know who ends up with the drugs.

There may be some value there is the right person get them. Might be interested in investing in the new company, as long as the old people are long gone.

Well good for you. And you can buy all you want. There are a couple billion for sale for about $0.0002. Go for the gold!

Stop lying to people.

If you bought this company for $20/share, given the share structure, you would own a company that was worth more than $120 billion. That would put it worth more than Eli Lilly and Abbott- COMBINED.

If anyone want the assets of the company they would not have to pay $120B for them. All they have to do is wait until the bankruptcy court puts the assets on sale. You will be able to buy the rights to the drugs for less than $10 million. That is IF the drugs are actually worth anything.

Or has everyone been dupe all along?

This is done. If you understand the drugs they were developing and are interested investing in them, just watch the court proceeding and see if you can buy into the company that acquires them. BUT BE WARNED- if any of the clowns that were behind GENTA are within 100 miles, run the other way a quickly as possible.

They did not buy the stock. They already owned it.

They are one of the groups that owned the finance deals that lead to the demise of the company. It was not their fault, and my bet it they would rather get rid of the stock, and get it off their books, if they could. But when you own that many shares it is hard to unload.

Want proof? Look at the 13 g they filed on 3/6/2012. Same company, same ownership percentages.

The filing was not by the company.

It was from someone holding the stock. The same company file a few dozen other 13gs the last couple days for other stocks they hold. It is nothing but them declaring what their ownership interest is in each company.

This is a required filing by the holder. Just because the company is nearly defunct, it does not release the holders of the stock from making the required filings.

Two words for you Gary....

Tax loss. You should have sold and taken the tax loss. Now it is too late.

Actually, I don't think it is trading. I've said that all along. I think all you are seeing is MM balancing their books and the finance people covering short positions created when they were converting.

Question for anyone- Has anyone ACTUALLY SOLD any shares in the past few weeks? Has anyone tried?

I'm sure you can buy shares if you want to. But my guess is that you cannot give shares away at any price. The MM is not obligated to buy them from you, so why would he waste any money?

Either way, the party is over here. We can just wait for the drugs to surface somewhere else; evaluate the new company; and see if they are any better at bring them to the market.

Gary, the problem with that is this-

If I am an investor who wants to buy in because I think there is real value here, I will demand that I get a big cut of what is left. So I will get most of the ownership of the company and those holding the stocks will get diluted even more. Those .0002 shares will be worth even less, because in order to get my money, I will want the very best deal.

If I just want the drugs, I just sit back and wait for the Trustee to put them up for sale and buy them. That way I get ownership of all the rights without all the baggage that comes with GENTA.

No, this is dead. Had they file something other than Chapter 7, I'd think they might have a chance. But they did not. They shopped the drugs and could not find anyone to put up any more money. Not with the screwy share structure.

Sorry, but it is true...

Nope, you about nailed it.

They are selling off the assets.

The real action will come when the drugs are sold off. Anyone got a couple hundred dollars to spare. but we could all chip in and buy them for less than $50K.

It is over.

But a few people find old information to float out there to suck in a few new fools.

They were not there. Do a search for the conference. Then look at the companies that attended. Also look at the conference book (downloadable from the conference web site). It has profiles of every company that attended. No Genta listed.



Go to the SEC Edgar database. They never filed the 10Q as required to report Financial results. They did file the Bankruptcy 8K on August 2nd.

They also filed an 8K on August 27th that warned investors that they cannot rely on past financial statements made by the company:



This is not rocket science.

It is more like a game of "connect-the-dots" that any five year old could master.

I stay here because I invest in DRUG companies. That is what got me here and why I stay here. I'm interested in what will happen to these drugs. As I've told others, if the drugs are good there may still be some money to be made in the company that ends up with the rights.

But I also don't like seeing people getting fleeced out of their money. Which is what I see going on here. I've posted here when I was looking at buying in, when I owned the stock, and after I sold. I've been in and out many times.

But what I can't figure out is why you have a problem with my posting. Instead of posting FACTS to dispute what I say, you attack me. That is the oldest game in the book, When all else fails, attack the poster.

If you can provide some FACTS that says what I've posted is WRONG, then post it.

FACTS:

The 8K filed by the company says they are going Chapter 7
The Pacer Court documentation says they filed.
The trustee has asked for permission to hire a third party to run the trials until they drugs can be sold.
The creditors have already had a meeting to discuss the liquidation.
The company did not present at the meeting held last week, as their web page says they would.

I'll stop there and give you a chance to catch up answering those.

As for my long posts, I type around 100 words a minute. It does not take me long to post a page or two. Hunt and peck has never been my game...

That list has been there for months.

Go to the Rodman & Renshaw Annual Global Investment Conference that was held last week and is listed just below the Vienna 2012 ESMO Congress. Genta's web site says they will be there as well. Now look at the conference list of companies that attended. You guessed it, no Genta. Now go on the web page for the conference and get a copy of the book of the companies that participated. Yep, Genta is not in the conference book. (The book is downloadable in PDF format and is a great source for information about a lot of companies. Try it if you are researching biotech and medical companies)

There is nobody to update the web page. They are were terminated.

What about the 8K don't you understand? The 8K says they are going to file and all the officers and directors were terminated. The Pacer court information show the filing date, the judge assigned, the trustee assigned, gives you a list of creditors, and even has documents from the trustee requesting permission to keep the trial in place and hire experts to handle that aspect. That is about as clear as it comes. They filed and the trustee is in the process of protecting and then disposing of the assets.

Someone said fun? This is fun? It is fun when people lose thousands of dollars because a few idiots at the top don't know what they are doing and run a company with a potential lifesaving drug into the ground? This is "fun".

No, it is very SAD, not fun. It is fun to go to Vegas and drop money on a table to gamble. If this had been done right they could have saved this company. But the people at the top had no idea how to run a biotech company. They may be the smartest scientists in world, but they were really bad business people. That is why the COMPANY failed.

I follow biotech. I've made a lot of money doing so over the past 20 years. Hell, I made a lot of money here. But I don't do it because it is "fun". I do it TO MAKE MONEY, and if along the way someone is helped, that is great. This is not a game. This is real life. If these drugs work people's lives will be extended or saved. And when you see a disaster like this, you wonder how many will suffer because of what happened here.

If you want fun...there are thousands of web pages with games to play on the internet. Go find one. This is an investment forum.

No press release because they all were let go and there is nobody left to do it.

But they did file the SEC document.

Genta 8K

Lots of stocks trade after filing for bankruptcy. That is why they stick the Q on the end- TO WARN INVESTORS ABOUT WHAT IS GOING ON.

The Ticker Symbol is not dropped because it has value. After the trustee is finished his work he can sell the Ticker Symbol as another asset. There are a lot of companies out there that want to buy shells companies. That is what this will become, just a shell for someone else to use.

Or if you don't want to pay the fees:

Free site for Court info