Genta can only force the investors to convert if the stock price goes over $ 2,50 (RS adjusted) for 10 consecutive trading days - that goes for the last huge financing from March 2010 (ref: PR from 8. march 2010). Since they paid 1 $, they wont convert anywhere under at least 1,10, I guess.
I am not sure about the old financings and their terms.
We should not forget that the terms of financing, can be adjusted by Genta at any time - IMO. Means that if they get an additional financing in the future for example at 50 Cent per share, the old financings will be adjusted. As for today that would mean approx. 120 mio. instantly plus the new share/convertibles.
I agree with Smitter that Genta will (mis)use Tesetexal to hype and dump in the future. If Tesetaxal is so great, even Genta does not know. But I am sure Genta will make it look pretty as they have done with Genasense in the past, before it turned out to be 'not as helpful as they thought'...ooops;).
regards
GD
P.S.: Btw as far as I can remember the authorized shares are 6 billion. Could not find it right away
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