The biggest problem I have with trying to decipher all these "pump and dump" scenarios is the exercise price to the acquire GNBT stock available on all these outstanding converts. options, etc.
As far as I can find, the lowest exercise price outstanding is $.08 per share. This is for the latest $750,000 financing in December. They published an SEC filing last fall covering all the outstanding converts and options (up until the latest December financing.) The exercise price on those tanged from about $.15 up to $1.15 per share.
So please explain to me how you make money exercising an conversion at $.08 per share and then dumping the stock at $.03 or $.04 per share?
BTW, if these options, etc, were being exercised, GNBT would have to report the receipt of the cash for the exercise price in their financial statements. I have never seen such a report of cash received.
So what's really going on?
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