On September 4, 2009, the Issuer filed Form S-8 for the Genta Incorporated 2009 Stock Incentive Plan, registering 83,478,929 shares of Genta Incorporated Common Stock par value $0.001. The shares underlying the restricted stock units that vested were issued to the reporting person on or after September 4, 2009, when the Form S-8 was filed.
It appears the activity of the last few days was the result of insiders excercising their new stock options and selling into a strong market.
Watch for the major drop next week with the massive dillution of the shares.
that's right genius - this stock essentially triples in one week because insiders are dumping shares!! You get the prize for absolute stupidest post ever made on this or any stock message board!
You know this person has been hired by shorts or is a short and makes statements made to cause some panic selling. Point is, shorts pay bashers for everytime someone responds to them and bashers get success fees if they help in bringing a stock down. Therefore, the more you answer, the more $$ bashers make and eventually Shorts. If not sure if it is a basher, check thier info and your DD before replying.
I agree the day traders have taken this up.
But you cannot deny the fact that increasing the number of outstanding shares from 183 million to 500 - 600 million shares in one week without the management officially disclosing the dillution factor and the current number of outstanding shares is deceptive.
It will cause a lot of people to lose a lot of money once this info is released.
Think about it -- 133.75 Million shares after the split.
Now, they issue another 83 million to the execs and the BOD. That now makes 216.75 million shares outstanding.
Apparently, they issued another secondary the other day at an undisclosed price and at an undisclosed dillution factor. That would put the number of outstanding shares around 500 - 600 million, based upon previous issues.
Now, the company can still issue another 5.5 billion shares since they are capped out at 6 billion shares.
So, what is your stock worth. Well, really, nothing at all other than what day traders are willing to pay you today or tommorrow.
We all know that Agenda is a farce since the company always changes dates and lies constantly to shareholders and bondholders.
Are you an idiot, the info was filed 9/4/2009 with the SEC, and did not even show up until a few days ago when the insiders excercising their shares began to appear.
Most of the insiders excercising their options still have not yet even filed since they have 30 days to make the filing.
This is VERY NEW, NEW, NEW news.
The stock is going DOWN, I say.