The wild moves are the result of Gene Cartwright spreading rumors. Twice he has claimed privately that GTHP is about to sign the deal with China. Here are the facts:
1. They do not have an agreement for China. Moreover, China is NOT willing to pay the $300K Gene has claimed consistently that they will receive. If the agreement is signed it will be a fraction of the $300K Gene continues to claim they will obtain. He has even used the $300K number in press releases. It is more a wish than a reality.
2. They are still trying to get a S1 out. Obviously, the purpose of Gene's lies is to try to get the stock higher. The reality is that the stock is not able to hold to gains since Gene's promises never materialize. Remember Kenya 1 1/2 years ago?
3. Expect some hype about India, but GE is just getting started as far as testing Luviva as far as I know.
4. Aquarius will lead the S1 if they can get more toxic financing. Any rally needs to be sold ahead of the S1. The alternative is BK. Several pre-package BK deals were submitted last few months. It is either BK or a S1. Neither will help the common.
5. Private parties trying to buy GTHP will need $20mm to get GTHP to FDA approval just to meet liabilities and expenses until FDA approval. Translation the common is worthless IMHO.
Personally I think Cartwright is a zero and his behavior is criminal since late 2014 when he has consistently spread information to private parties.
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.
Almost 2 years ago I had several conversations with Gene Cartwright. At the time Gene told me and a few others to expect a large order from Kenya "any day now". He made the same comment to several in this board that are long term shareholders..... It took two years to materialize and the "huge" order turned out to be 5/6 machines. Now regarding China.... Gene started talking about China last year. Of course all talk and no action. This is typical from Gene. Lot of talk and promises but no action. He loves to over promise and not deliver. Look at the balance sheet? They need to raise a lot of cash and the stock is at 2 cents after a 100 to 1 reverse split! Hard to believe they can do another financing to keep the doors open.
My take is that they do not go BK but it is sold to a private investor for a song and a dance. Someone with about $20mm can take over the liabilities and take it to FDA approval. Now understand FDA approval is at least 1 1/2 years away. IMHO, the common stock is worthless.
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.
When he took over the stock was @40-45 cents.... It is now at $0.0002 when you account for the reverse split. Yes he has done a great job indeed!
Nope.... but there is a lot of truth on that message from J.a98. I think my dead grandmother will have vastly outperformed Gene's pathetic and amateur tenure at GTHP. Gene is a first time CEO and is extremely ill suited to the position. His complete lack of understanding on financing deals killed GTHP. Even worse he has ALWAYS over promised and under delivered during his tenure. Whispering on investors ears half truths is criminal behavior. So Kenya finally bought 5/6 machines.... Gene promised a HUGE order from Kenya 1 1/2 years ago to several of us as you know too well. Gene "Any Day Now" Cartwright is at best beyond incompetent but in my opinion he is a #$%$.
Guided Therapeutics Enters into LuViva® Advanced Cervical Scan License Agreement for China
Deal includes funding, payment for Chinese regulatory approval, royalties and manufacturing
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Guided Therapeutics, Inc. (OTCQB: GTHP), the maker of a rapid and painless testing platform based on its patented biophotonic technology, announced today that it has reached a licensing agreement with Shenghuo Medical, LLC, for exclusive sales and manufacturing rights of the LuViva® Advanced Cervical Scan for China and several additional Southeast Asian countries. Shenghuo brought Chinese investors into GTHP last year and currently owns the distribution rights to China.
The terms of the licensing agreement include $200,000 in near-term cash payments, the potential for up to $1.0 million to pay for advancing U.S. Food and Drug Administration approval for LuViva, funding to secure Chinese regulatory approval of LuViva and a royalty payable to Guided Therapeutics on disposables sold in the territories. Shenghuo also has the right to manufacture the LuViva and disposables under certain conditions.
"We are pleased to be continuing with Shenghuo to open up this valuable market to LuViva," said Gene Cartwright, CEO and President of Guided therapeutics. "The agreement also opens up the possibility to bring efficiencies to our manufacturing processes and provides funding for Chinese regulatory approval."
China is the second largest medical device market in the world, according to the U.S. Department of Commerce. Approximately 390 million Chinese women are between 25 and 64 years old, the prime age for cervical cancer screening. Prior to commercial sales, LuViva would need approval from the Chinese Food and Drug Administration. The Company currently anticipates interim device and disposable sales for clinical study and demonstration purposes. In Hong Kong, the Company believes the time to commercial sales is quicker, with device registration, rathe
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.
No he just pretends to be a CEO. Be aware that if he is talking to you he is mostly lying. Not sure he qualifies to be a bus boy at a cheap dinner.
Really? This was explained so many times. GTHP is headed to a S1 (Dilution) or BK. They have monies for about 1 month AFTER receiving funds from China. China was suppose to be a $3mm deal per Gene just 12 months ago!!!!!!! Aquarius and insiders have huge amount of common shares via preferred shares. Aquarius especially is using every single piece of news that lifts the stock to dump more shares before either the S1 or BK. Have you looked at the balance sheet. They have more than $8mm in liabilities. What is so hard to understand?
Were you expecting another reverse split by today? No china and the stock had plunged 50 percent. No worries.... Gene will make it happen "any day now". Worse case next week.... Well worse case June or later in 2016 but definitely by early 2017.
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.
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.
No. You would be lucky if the stock goes to 4-6 cents for a minute in the early AM then it would go down again. They are not going to get more than $300K. It does not move the needle. GTHP's common is basically worthless. People holding preferred stock might get something but the common is worthless IMHO.