Genta, Inc (fka GNTAQ)

[dragon52]

Leak? LOL Anyone take the time to read the remarks

in the filings?


Seems to me, that selling a chunk of stock to pay taxes is appropriate at the end of the year, which I might add is around this time of year.

"Explanation of Responses:
( 1) Includes 1,238,876 shares of common stock held in the reporting person's IRA, 1,096,844 shares of common stock held in joint accounts with the reporting person's spouse, Dr. Warrell, 125,637 shares of common stock underlying the Senior Secured Convertible Promissory Notes due June 9, 2010 (the "Notes") and 8,513,714 shares of common stock underlying restricted stock units that have not vested as of the reporting date.
( 2) Includes 15,864,273 shares of common stock issuable upon the conversion of the Notes by Dr. Warrell and 21,587,046 shares of common stock underlying restricted stock units that have not vested as of the reporting date.

Remarks:
The sales reported on this Form 4 were undertaken to cover tax liabilities on ordinary income to the reporting person and his spouse, Dr. Itri, that exceeded $200,000. The ordinary income was earned for interest received on convertible notes of Genta Incorporated held by the reporting persons in the form of additional convertible notes in lieu of cash. The transactions reported on this Form 4 comprise less than 4% of Genta securities currently held by Drs. Warrell and Itri.