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LOL
Yes, the countdown is running, 12 days left;o)
Wish you all a nice Christmas
GD
bashing, yeah right...
These liabilities fluctuated according to the price of Genta’s common stock up until the implementation of a 1-for-100 reverse stock split that became effective in August 2010, and as a consequence, these fluctuations have caused the Company to report positive net income for the third quarter of 2010.
The income is generated only by selling notes/convertibles...
Last quarter results were even better...
For the nine months ended September 30, 2010, the Company reported a net loss of $(133.4) million,
the Company has approximately 111 million outstanding
In just a few weeks they raised the number of O/S by over 15 %
again!
You paid pushers wont fool anybody anymore...I hope...
GD
Hi all,
somebody ask me a question through private message. Unfortunately I cannot answer, since I am not a paying member;o).
Here my guess, why Genta increases the number of authorized shares to 100 billion.
When they do the adjustment of notes and convertibles on 31st december, they will probably have approx. 10 billion of reserved shares at an instance (right now there are about 100 million O/S and 1,2 billion of notes and convertibles). My guess about the adjustment: from 0,0395 down to maybe 0,003 - 0,004.
The next financing will probably be 20 mio. dollar again. Knowing Genta they will give away the notes for maybe 0,001 - 0,002. That will mean billions (maybe 10 - 20 billion) new notes/convertibles PLUS the adjustment of the old notes - as they always do.
If they stay at 6 billion A/S, they would have to do multiple Re-Splits to cover, alway having the problem of the share price being to high to pump and dump. By increasing the number of A/S they can pump and dump their asses off, since Genta will stay sub-penny for a while and therefore stay a players stock...
By being able to do two Re-Splits they also dont have to go too high in the ratio.
I hope my opinion was not to complicated written;o).
Looking forward to read what you guys think of my little theory...
Regards
GD
Sorry, guys, I thought you already knew about the 100 billion A/S and the 2 RS, when I made a remark about it a few posts ago without the link to filing...
I was already wondering why you took that news so lightly.
This move is unbelievable...100 billion A/S and 2 RS. Genta is becoming completely reckless (even more than before) and I dont think this can work for much longer.
IMHO
GD
German market does not matter at all when it comes to the Genta Game.... except one time and that was on the 11. October when they were dumping the hell out of Genta stocks and the dumping started exactly 15 Minutes before the us market openend. That was professionally planned!
Other than that German market is not the trendsetter, thats for sure!
GD
6500 Share at 0,034 Euro that was it in Frankfurt...in Stuttgart last quote was 100.000 shares at 0,03 and thats not plus
...come on, man, straighten up, you seem to be desperately pushing...and anyway since when is Germany interesting?
GD
Why would you think that Genta wants to stabilize the share price when they multiply the number of authorized shared by factor over 15 - from 6 billion to 100 billion. How could that contribute to a more stabile share value?!
Its all about being able to cover old notes holders and enable Genta to get new financing in the near future without having to set up another share holder meeting.
This will drive the share price to sub-penny-level for sure and then the pumping will be much easier - and therefore more margin for the dumpers... But I dont want to be too negative, sub-penny and more pumping will be also good for us, if one plays it right next year....and they better have a good tesetaxel story on the line to do so...
Regards
GD
Oct. adjusted price for the $10.00 from the 1/100 R/S was $.10 for ten days prior to the adjustment date allowing the adjustment
Hi Learner,
how do you come up with $ 0,10? Since there has been a Re-split wouldn't that mean that the price needs to be under $ 1000.00 ($ 10.00 x 100))?
Anyhow I dont believe that the october adjustment counts as recapitalization, since the financing is 'old'.
If I understood your question correctly;)
Regards
GD
My guess around 200-400 Mill will hit
My guess is higher.... Remember last year in May/June? Genta was trading between 0,004 to 0,006, we had daily volumes up to 2 billion...
But that is all speculation on my side...
@stocky: I am sure that there will be an adjustment in december, just like smitter has written...and therefore there will probably be another re-split...IMO
Regards
GD
I think another adjustment of price may not happen
What do you mean, an adjustment will not happen?
GD
Of course they are not able to dump all the remaining shares without completely destroying the stock, but stocky could be about right.
Even if Genta was able to dump 25 millionen of their notes and convertibles before the adjustment on 8th october (which I seriously doubt, too little volume since the RS, maybe 10 million at the max), the remaining notes and convertibles would be about 800 Millionen.
Regards
GoodDecision
The most important sentence in this PR is
This conversion rate is subject to adjustments under certain circumstances
The description might be accurate, but nobody knew what that meant until last week...from 1 Dollar down to 0,039 equals from 64 Mio. Shares up to 1,3 billion. Thats about accurate....
And another 'adjustment' will follow in Decembre. And if you think they won't go any lower, you will be surprised how low they can go;)
Regards
GD
you have been saying that.... before it went down now about Minus 80%. I believe your job is over!
GD
well, maybe its almost time to think about a quick and short buy, as smitter mentioned.
under 30 Cent, maybe?
Regards,
GD
Did I say the opposite? Of course I wait until it gets cheaper, since Genta stock is way to expensive for the risk one takes and the situation Genta is in at this very moment!
GD
Don't be so hard on our new puppy, he will learn the Genta lesson the hard way. The next genta investor generation so to speak;o)
Here is number of O/S from one of the sec filings, so 63,5 Mio. outstanding shares when they are done converting. So newcomers forget Dee's eyewash....
At June 30, 2010, we had 8.1 million shares of common stock outstanding and 55.4 million shares reserved for the conversion of our outstanding convertible preferred stock, convertible notes, warrants, the issuance and vesting of outstanding restricted stock units and shares issuable upon the exercise of purchase rights of our noteholders.
GD
Only 20 % plus for a few hours and than down the hill again??? Is that all you got?! As I said, I'll wait for the real pumpers again. You seem to be second division...
Then I guess it will go as always:
1.) Genta stock under 10 cent
2.) New financing with convertibles for 1 Cent
3.) Old options will be adjusted (so we will be in the hundreds of millions of outstanding shares again, then billions)
4.) Genta will build up 'the new story' Tesetaxel and it will be like the good old days... pumps to 100%plus
I can wait;o)
GD
Well, even when I buy at 10 Cents, it will be money, honey, not for free...
As I said you are so funny....the honest way...yeah right!
GD
If you are so convinced and willing to spend half a million on Genta shares, you must be dumb as hell, since you could just ask Ray to give you convertibles. Convertibles for - hmmmm let me think what the next call in financing might be - ....Maybe 1 to 5 Cents a piece;o)
@ DEE: Tell Ray to sue me...you are so funny:o)
Under 20 or maybe 10 cents I might think about investing for 1 day or so again, but definately not before. I don't care if I miss out on a few pump-and-dump hypes!
GD
If you were a investor getting convertibles for 1 cent and throwing it on the market for at some point 10 times as much, it is easy to convert now under 1 Dollar. The 'Investors' already got their money back before resplit...anything they throw out now is nice on top, no matter if it is under what they had paid for. They have already made way more than they have spent!
That is the key, lets wait a while, the time will come. Everyone who has been around a while and has understood how Genta works, knows what I mean.
And smitter, you are right, since there has never been a 1:100 resplit, the story is a little different this time. They are going down deeper and faster...
and by the way dee and akakaz, shut the hell up...whoever you are, you seem to need this low down dirty job!
But the time will come to play again....
GD
Its not about how much it is worth...this company is completely in the hand of sharks and they will play it again!
I will wait with my shortterm (!) investment until I see the usual signs. Shortterm = maybe a few hours or one or two days at the most. I dont care if I miss on a pump.
Again, Genta is not about analysis and fundamentals, this is only a players stock. So its all about discipline and not being greedy! And one who invests has to watch it closely - in other words not leave the screen IMHO.
GD
Akakaz, you are boring me, since you are full of BS!
@all: when guys like akakaz show up, the time has come to be attentive. But hell, Genta is down so low, you dont have to be a genius to figure out that there will be a little (!) pump shortly.
Especially since there is an event coming up. But dont be too greedy. 10 % would be enough for me personally, if I bought some. I have not decided yet, though!!!
GD
Germany...why do you ask?
P.S.: But I do believe that it is almost time to buy a few shares to make a quick 20/30% in den next two weeks... They might do a live presentation at the event to show big investors how Genta stock works and how easy it is to manipulate it and win a few gullible small investors in the 'pump&dump' process;o)
I wonder how low Genta will go in their next financing. Maybe 10 Cent/convertible? Maybe 0,5 Cent?
Lets see what they will come up with....
Good luck to everyone
GD
You might be right and you also might be right about going below a Dollar short term...
Again I believe you might be right, that they will pump again. Genta is special and professional. They have learnt along the way, since they have to make us small short terms investors happy every once in a while to keep us in line. Even though they will dump millions (or billions) of shares - as they have been, Genta & Team does not dump blindly;)
Have a nice Sunday
GD
sent too quickly: Tesetaxel
Genta can only force the investors to convert if the stock price goes over $ 2,50 (RS adjusted) for 10 consecutive trading days - that goes for the last huge financing from March 2010 (ref: PR from 8. march 2010). Since they paid 1 $, they wont convert anywhere under at least 1,10, I guess.
I am not sure about the old financings and their terms.
We should not forget that the terms of financing, can be adjusted by Genta at any time - IMO. Means that if they get an additional financing in the future for example at 50 Cent per share, the old financings will be adjusted. As for today that would mean approx. 120 mio. instantly plus the new share/convertibles.
I agree with Smitter that Genta will (mis)use Tesetexal to hype and dump in the future. If Tesetaxal is so great, even Genta does not know. But I am sure Genta will make it look pretty as they have done with Genasense in the past, before it turned out to be 'not as helpful as they thought'...ooops;).
regards
GD
P.S.: Btw as far as I can remember the authorized shares are 6 billion. Could not find it right away
Hi,
I am guessing O/S 9.5 Mill currently.
At the web-conference on Aug. 12th, they said the O/S at that date was 8,4 Mill. So I believe it may be 8,6 at the most.
FYI
GD
P.S.: By the way the last filing said the following - the main reason for the necessary RS (over 6 billion shares all together pre RS):
At June 30, 2010, we had 8.1 million shares of common stock outstanding and 55.4 million shares reserved for the conversion of our outstanding convertible preferred stock, convertible notes, warrants, the issuance and vesting of outstanding restricted stock units and shares issuable upon the exercise of purchase rights of our noteholders
Article Date: 09 Mar 2009
Useless Information
By the way
Last year at this time before RS there was still a hope for the FDA-decision PRO Genasense. But Genta was not able to deliver, thats why the stock price broke down at the end of last year.
This time Genta tries to promote Tesetaxel as a more promosing highlight. Good for the phantasy and risky as well, since not as far in the process as Genasense had been.
Interesting how they will sell Tesetaxel in the near future.
After Re-Split!
GD
Frankfurt
yeah, at under 0,01 (after RS maybe 0,50) and at other points probably as well...
As I said...a lot we can learn here...
lets see how up and low they will go this time before RS. Last year it went unsteady after the RS-Decision. They said that they were not sure about the exact date of the implementation of RS.
Then at a friday evening the share price went up like crazy. And in this hype Genta announced the implemention of RS the following monday. German stock exchange had just been closed at that point.
Watch out, how they will play it this time.
Maybe one can make a little bit of money, if they play it right. Very risky though...
Good luck and we will see shortly
;)
GD
Hi STL,
it is clear: a few people here are not aware of the fact, that there are approx. almost 1 billion shares on the market right now with still approx. 5,5 billions convertibles out there.
Thats why Genta HAS TO do the re-split. Right now they dont have enough to cover...
What does that mean for the current compared to the future share price?
well, as it comes to Genta, there is always a time to buy and to make a little bit of money! Only when you buy and sell it. There are riskier times (like now) and there are more predictable trades (during regular time in case of events and usefull PR, with no re-split in sight).
We will see what will happen the next few weeks.
Right now its Gambling...
Good times to learn.
GD
Genta Incorporated Announces First Quarter 2010 Financial Results
May 13, 2010
BERKELEY HEIGHTS, NJ – May 13, 2010 – Genta Incorporated (OTCBB: GNTA.OB) today announced financial results for the quarter ended March 31, 2010. Corporate highlights for the quarter included:
* Closed financing of convertible debt and warrants
* Initiated confirmatory Phase 2b trial of tesetaxel in 2nd-line gastric cancer
* Initiated new clinical trial of tesetaxel using weekly dosing schedule
* Survival followup continued in AGENDA Phase 3 trial of Genasense® in advanced melanoma; completion expected Q1 2011
* Multiple abstracts accepted for ASCO presentations June 2010
Financial Results
The net loss for the quarter ended March 31, 2010 was $(166.6) million, or $(0.76) per share, compared with a net loss of $(11.1) million, or $(0.64) per share, for the first quarter of 2009. At March 31, 2010, Genta had cash and cash equivalents totaling $19.6 million compared with $1.2 million at December 31, 2009. Net cash used in operating activities through March 31, 2010 was $2.3 million.
As previously reported, in March 2010, the Company closed on a financing, whereby it issued $25 million of units consisting of $20 million of various senior unsecured convertible notes, $5 million of senior secured convertible notes and warrants to purchase additional senior unsecured convertible notes of $10.0 million. The Company had direct access to $20 million of the proceeds, and the remaining $5 million of the proceeds were placed in a blocked account as collateral security for the $5 million of secured notes. Also in March 2010, three investors who had participated in our April 2009 financing, exercised their rights to acquire convertible notes of $0.9 million. There was an insufficient number of authorized shares of common stock in order to permit conversion of all of the notes and warrants associated with these transactions. Accordingly, the conversion obligation for the notes and warrants were classified as liabilities and measured at fair value on the balance sheet, resulting in a total non-cash expense of $153.8 million for the first quarter of 2010. The conversion feature liabilities and the warrant liabilities will be accounted for using mark-to-market accounting at each future reporting date until all the criteria for permanent equity have been met. The Company has filed a proxy with the Securities and Exchange Commission that seeks authorization from Genta’s stockholders to authorize the Board of Directors to effect a reverse stock split that would among other effects provide sufficient equity to meet the permanent equity criteria.
Genta announces first Quarter 2010 Financial Results
but your answer paints very clearly the "Big Picture" at this point.
by the way: this was not my answer, I simply copied and pasted, what Genta's Management proclaims.
I appreciate what users as smitter and Co have been writing, users as bundles(of bull) I have to laugh at, since he is solely posting in his self-interest. Saying that the facts are bashing, is basicly saying that Genta is bashing itself...
well, in a way they are...Genta is pretty up front with what is going to happen...go with it - and you are right 'in and out' or one will lose lots of money...
Dont love the stock, better love and leave it - over and over again
Kind regards
GD
Up over a dollar, but back in again.
You mean 'up over a dollar' after resplit, right???!
GD
Board Authorization To Effect Reverse Stock Split
Our Board of Directors is proposing that our stockholders approve a proposal to authorize our Board of Directors to effect a reverse stock split of all outstanding shares of our Common Stock, at any ratio up to 1-for-100; however, please note that the timing and ratio of any reverse stock split approved by our Board of Directors will require the prior approval of the holders of 66 2/3% of the combined principal amount of the then outstanding 2010 Notes. If this proposal is approved, our Board of Directors would have the authority to effect a reverse stock split at any time before our 2011 annual meeting , subject to the approval of the holders of the 2010 Notes described above . Our Board of Directors believes that approval of a proposal providing the Board of Directors with this generalized grant of authority with respect to setting the split ratio, rather than mere approval of a pre-defined reverse stock split, will give the Board of Directors the flexibility to set the ratio in accordance with current market conditions and therefore allow the Board of Directors to act in the best interests of the Company and our stockholders.
If our stockholders grant the Board of Directors the authority to effect a reverse stock split, we would file a Certificate of Amendment to the Company’s Restated Certificate of Incorporation, as amended, with the Delaware Secretary of State to effect the proposed reverse stock split, in substantially the form attached to this proxy statement as Annex A , the text of which may be altered for any changes required by the Delaware Secretary of State and changes deemed necessary or advisable by the Board of Directors. Our Board of Directors has approved and declared advisable the proposed Certificate of Amendment. If the proposed reverse stock split is implemented, then the number of issued and outstanding shares of our Common Stock would be reduced.
Purpose of Proposed Reverse Stock Split
According to the terms of the Securities Purchase Agreement dated as of March 5, 2010 (the “March 2010 Purchase Agreement”) under which we issued and sold the 2010 Notes, if we do not effect a reverse stock split on or prior to September 17, 2010, we will be obligated to pay each investor who is a signatory to the March 2010 Purchase Agreement a cash payment equal to 0.75% of the principal amount of all B Notes and C Notes purchased by such investor for each day from September 18, 2010 until the reverse stock split is effected; provided, however, that we are not obligated to make any such payments in excess of 100% of the principal amount of the B Notes and C Notes purchased by the investors in the March 2010 Financing (as defined below)
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7206838" rel="nofollow" target="_blank" >http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7206838