Genta, Inc (fka GNTAQ)

[The Holder]

It doesn't, read this snippet for insight into the truth.

Recent 8-K filed pretty much confirms a R/S as a stipulation, that is unless they don't want the money (the other half of the "up to 12MM in financing").

"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."