I think everyone seems to be getting the share count wrong.
From the last 8K, there are about 47mn OS, but also $31mn in convertible notes that convert at $.014. If they all convert (which they will...Genta has no money to pay notes, and they all make money converting at .014 and selling at .03), then you have approx 2.2bn shares, then add in 100mn warrants.
So, the market cap of Genta is about 70mn (2.3bn shares at about .o3)
If you believe positive OS is worth 250mn in market cap, Genta doesn't go above 10cnts.
The reason Ray et co are selling at a trikle is that no one can convert notes if it would give them more than 9.99% of OS. So Ray for example with over 227mn shares convertible from notes can only do about 4mn (OS 47mn) at a time and sell. Obviously as OS increases, the number goes up. I wouldn't be surprised if we are at 60mn by the time of CC on wednesday
Also, Ray has a second reverse split in his pocket. Positive or negative OS, Genta is out of money and would need to raise $$ in the next month. That would mean another RS to free up shares to sell or underwrite notes.
Not sure how to play this, but it would be a lot easier if all the note holders had converted and dumped their shares.
One question to ask at the CC, would Genta honor a 'quiet period' from when the trial is unblinded (3/30) to when the results are released. This would at least stop insider selling...even pre planned selling.
