Genta, Inc (fka GNTAQ)

[stock2windaily]

On May 28, 2009, Genta Incorporated, (the Company), announced that that it has scheduled a special meeting for stockholders of record as of May 27, 2009.




As disclosed in the proxy statement (“Proxy”) that has been filed with the Securities and Exchange Commission, the purpose of the meeting will be to authorize the Genta Board of Directors to potentially implement a reverse stock split of the Company’s common stock in any ratio up to 1:100.




Genta’s Board of Directors recommends approval of this resolution. As previously disclosed in the Proxy, if our stockholders do not adopt the reverse stock split resolution, it will constitute an event of default under the provisions of the convertible debt financing announced on April 2, 2009, which the Board believes will potentially result in serious and negative consequences for stockholders that are outlined in the Proxy.