How about another reverse split :-). I am sure they are working on financing but it is getting late. With the stock below 4 cents despite a 100 to 1 reverse split you have to wonder what they are thinking. Are they thinking?
It is becoming too late for GTHP to get any financing. 3 choices left:
1. They just file for BK. This is a low probability. I am thinking 10 percent or less.
2. They have a prearranged BK package. Much more likely than choice 1. Thinking probably around 40 percent.
3. Individual like Imhoff or a private investment group buys GTHP. IMHO slightly more likely than choice 2. Maybe 50 percent. However, I do not see them pay a large premium or a premium at all to buy the company. As a result, I think the common is worthless or a small valuation like 5-10 cents.
I understand and agree but the reality of investors getting any money from Gene or GTHP is small at best. Not against a SEC investigation on Gene. It is going to require several of us contacting the SEC. I think we will get a prearranged BK package. At best you get a buyer willing to meet the company's financial obligations and the common becomes worthless. I do not see any paperwork (S1) detailing more toxic financing and next week is April. They are out of cash and time IMHO unless a miracle happens.
Gene is a complete failure as a CEO. He lacks the skill to lead a company. Furthermore, he has zero understanding of how to get financing. Sadly, Gene has taken GTHP to the brink of BK after completing too many toxic deals. The last one with Aquarius was beyond awful. Moreover, Gene has consistently over promise and under deliver. To make matters worse Gene has had too many private conversations with investors misleading them regarding GTHP sales. Can he be investigated by the SEC? I think the company is too small but his behavior is technically criminal.
You are correct. I wish Gene Cartwright was facing jail time. There is plenty of his behavior that I would label as criminal. However, it was his complete lack of understanding how to provide financing for GTHP that drove this company to this pre BK situation. One horrible toxic financing deal after the next proved too much for this young company. Gene is a first time CEO and should NEVER be allowed to run another public company. I wish the SEC would investigate this pathetic and IMHO corrupt CEO, but GTHP is too small for them to bother.
The current volume (huge) during the few trading days is holders of the preferred converting to common shares. Why? So they can dump their position before the next toxic financing deal or more likely before they file for BK at this point. Whoever is buying even at these levels is a real gambler because it is going to be very hard to trade it. Maybe there is a fluff PR coming up but the end seems near. What can they do at this point? Lie about China again? GE? Please do not insult our collective intelligence. Are they going to announce selling 5-10 machines in Africa? Folks, IMHO, it does not matter anymore.
Many people on this board doubted when I discussed the possibility of a 100 to 1 reverse split a couple months ago Most were not looking at the balance sheet and the huge numbers of shares GTHP needed to issue. Earnings and the 10K are out (last month). At this point, either GTHP gets a S1 out very soon or they will file for BK. You might get a dead cat bounce here and there but the balance sheet does not lie. Does it matter if GTHP announces they sold 5 machines in Nigeria or Kenya at this point? They are out of money and financing might not be available. They pledged the IP. Cartwright is the worse CEO I have dealt with during my 35 years as a investor/trader. His conduct is border line criminal.
As I discussed previously I expected the 100 to 1 reverse split because all the shares they had to issue to holders of preferred stock. Obviously earnings were pretty horrible and they are out of cash. Either a S1 is published very soon or I expect some type of prearranged BK filing.