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Gentium SpA Message Board

swallitt 3 posts  |  Last Activity: Jul 25, 2014 9:03 AM Member since: Oct 5, 2001
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  • swallitt swallitt Jul 25, 2014 9:03 AM Flag

    did not say anything negative about the private placement as I don't know what the terms are. I am not worried about the interest rate. What I am concerned about is what the conversion feature is, as some of these become death spirals and create MASSIVE dilution.
    If the company keeps needing money, why is the CEO taking such a huge salary?
    How does this help shareholders?
    I wish you shareholders the best, the only thing that bothers me is the CEO hyped too many people about empty promises.

  • Our staff members are also informing those interested about an opportunity with an immediate monthly income. This opportunity is with a second company, Premier Holding Corp., which is also run by Randall Letcavage, Nexalin’s CEO. Premier Holding Corp. is offering a convertible note bearing 12% annual interest, with 1% interest paid monthly. This letter is not an offer to sell that note; it is only to share the information with you.

  • 1) What are all you bulls thinking about? Letcavage is paying himself $277,500 + $661,000 (some of which goes to Nexalin Technology of which Letcavage is the President)

    2) Cash flow from operations are expected to be insufficient to meet operating commitments through fiscal year ending December 2014.

    3) With doing private placements at 10 cents, giving away stock to consultants, and real financial concerns, why is Letcavage taking so much money out of this company? To top it off, the stock price is in the tank.

    I never bought this stock, but listened to a conference call ages ago from Letcavage hyping everyone up

    "Liquidity and Capital Resources

    During the year ended December 31, 2013, cash flow from operations were not sufficient to meet operating commitments. Cash flow from operations are expected to be insufficient to meet operating commitments throughout the remainder of the fiscal year ending December 31, 2014.


    The Company has sustained operating losses of $13,146,885 since inception. The Company’s continuation as a going concern is dependent on management’s ability to develop profitable operations, and / or obtain additional financing from its stockholders and / or other third parties

    During the year ended December 31, 2013, Mr. Letcavage (directly or through related entities) was paid $240,000 as compensation for his role as our CEO and CFO, and $37,500 for consulting, for a total of $277,500, and $661,319 for contract labor, including payments to Nexalin Technology specifically for the direct costs related to independent contractors performing sales lead generation (Nexalin Technology is in an unrelated business to the Company, and Mr. Letcavage is its president and shareholder), which were not reported as income. In addition, the Company has also paid $28,787 to iCapital Advisory for consulting services received during the year 2013, Mr. Letcavage is president and shareholder of iCapital Advisory. "

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