News Focus
News Focus
icon url

vinmantoo

11/15/08 4:51 PM

#15203 RE: go seek #15202

go seek,

Johnbits has been saying GTCB is all smoke and mirrors on the Yahoo board. He claims GTCB has been lying and deceiving investors akin to the scams run by companies like INGN or Countrywide. Of course this is non-sense and I challenged him on it but he refuses to change this view to one where they have a viable product but are poorly managed financially. His insistence on calling GTCB a scam should tell you all you need to know about him.

Bits claims that Merrimack and PGNX dropped their projects with GTCB because they don't believe in GTCB's platform to produce proteins can be viable. When I pointed out to him that both Merrimack and PGNX dropped their partnerships for reasons directly related to their proteins and completely unrelated to GTCB, he refuses to correct his errors. On the contrary, he repeated the lies about Merrimack. The truth is that PGNX put their project (PRO542) with GTCB on hold to move a different compound (PRO140) into trials, and it has shown stellar results in phase II trials. Merrimack's MM-093 didn't perform well in trials so has been halted by Merrimack. It is true both events were negative for GTCB, but we need to deal with facts, not lies spread by Johnbits.

Bits also claims to know that a long time basher on the Yahoo board, investor888 is actually a positive poster here but when I challenged him to name the person who posts here, he just ran away and hid. He likes to attack people who own GTCB but won't say what stocks he does own or likes. He is both a liar and a coward.
icon url

DragonBits

11/15/08 7:22 PM

#15205 RE: go seek #15202

go seek, I am not long nor short, but I don't believe in advocating whether others should buy or sell. I think we should all search for the facts and then make our own decisions.

LFB feels GTC is worth at least 31 cents, actually more than that if you factor in they wouldn't own all of GTC even if they were to call their potential loan rather than convert it.

So it wouldn't be a shock if someone else like GENZ were to offer to buyout the company for 50 cents, or a 170% premium. On the other had if GTC accepts the loan and can’t pay it back and then has to eventually borrow more money from LFB, further dilution will take place.

I don’t think the situation currently offers enough downside protection and has limited upside catalyst for me to want to take a position, but others may see it differently and that is their prerogative.