The second shoe has yet to fall. After the REVERSE SPLIT a massive DISCOUNTED DILUTIVE FINANCING will follow. The Bermuda outfit needs cash to fund trials.
There could be a LIQUIDATION and a total wipe out of Carlos.. According to Ghigli: "If we do not complete the Proposed Merger, the board of directors may elect to take the steps necessary to liquidate all of our remaining assets. The process of liquidation may be lengthy and we cannot make any assurances regarding the timing of completing such a process. In addition, we would be required to pay all of our debts and contractual obligations, and to set aside certain reserves for potential future claims. There can be no assurance as to the amount of available cash that will be available to distribute to stockholders after paying our debts and other obligations and setting aside funds for reserves, nor as to the timing of any such distribution."
Carlos, Who the F cares what name is used on a post? It's the content of the post that counts. James used dozens of IDs to pump this pos stock. You didn't make an issue of that. Is your name really Carlos? Who cares? You can use any name that you want to post. You are lashing out at those who posted sound advice, instead of at those who suckered you into a bag. Wake up, smell the coffee - you were the victim of the DreamTeam Pump & Dump operation. How much money have you lost to date?
But Carlos, if the merger is completed, Galena will still exist. You as a shareholder will hold shares in the renamed company. All be it, you will hold 1/30 of the shares that you currently hold and Galena shareholders as a whole will have 32.5% of the shares of the new company. Sellas shareholders will hold 67.5%. Longs and shorts will still hold positions in the renamed company. The way that it will work: There are currently about 40M GALE shares. About 80M new shares will be issued to Sellas shareholders for a grand total of 120M GALE shares outstanding. The GALE shares that are short, 4.6M, will now represent 4% of all the total outstanding shares, down from 12%. So it will be easier for the shorts to cover. Galena will be renamed Sellas. Then the 120M shares will be subject to a 1 for 30 REVERSE SPLIT = 4M shares outstanding. You will have 1/30 of your current holdings and the shorts will hold 1/30 of their current short positions. Longs and shorts will be impacted the same by the REVERSE SPLIT but the 80M shares issued to Sellas shareholders will greatly dilute Galena shareholders and benefit Galena shorts because the short interest percentage will be reduced from 12% to 4% of the new total shares outstanding. The GALE share price is dropping because of the massive dilution (GALE longs are getting hammered while the shorts are adding to their gains). Got it?
Do NOT trust JAMES
Market cap now under 12M. Isnt there a minimum requirement for listing? What a joke. Jimmy once valued this thing more than MSFT. Remember that? 931 per share was his idiotic prediction.
Carlos thinks that massive dilution and a massive reverse split benefits shareholders. LOLOLOLOLOLOLOL Carlos, why do you suppose that the stock price has been dropping sharply since the announcement?
I'm trying to help you, Carlos, unlike James, who suckered you into a bag at a much higher price and has since disappeared with your money. I suspect that you are suffering from the Stockholm syndrome. You now identify with your abuser and carry his torch and lash out at those who are trying to help you. It's sad, very sad.
James and Carlos are both vile imbeciles. Carlos will go crazy from seeing red every day and die broke and homeless.
Notice, it's Carlos crying and spewing vitriol. Hey Carlos, I didn't tell you to buy a bag. Go ask James to return your money.
Carlos has misdirected anger. Carlos, call out those who urged you to buy this sketchy stock, run by sleaze balls who defrauded their own shareholders, not those who cautioned you about this scam stock. Your pathetic cries of anguish now and recriminations are foolish.
Yes, Carlos, you are vulgar, a liar, psychotic, nasty and frustrated and the stock is down again. BwaHaaaaaaaa. All your crying and name calling won't get your money back. You need to sue James and the boiler room pumpers who conned you into a bag.
Carlos' new mantra is: he's losing money because of racism - even though nobody knows what race he is. It's not that he is gullible, naive or dumb - it's because of racism. Pathetic!!! Typical liberal puke from a loser misfit.
Carlos will have to wait a long time for shorts to cover a sinking stock headed for a REVERSE STOCK SPLIT followed by a DISCOUNTED DILUTIVE FINANCING. Make sure that you stock up on lube while you wait, Carlos. HaHaHaHa
Do NOT trust JAMES
Carlos. What do u like about this dog. I read all your posts and you have beem long for a while, so you probably lost your shirt. There is no reason to come to this board and defend this garbage.
No Carlos, you are crazy and getting crazier as the stock drops more and more.
Poor Carlos. Another red day. Carlos' butt must be red and achy. You are not smart, Carlos. Your stubbornness and naivete did you in.
Carlos, are you ready for the 1 for 30 REVERSE STOCK SPLIT? How many shares will that leave you with, 50 or less?
Carlos first appeared 4 months ago when the stock was near .60. So, he lost nearly half of his money. No wonder he's squealing like a pig.
More litigation - more shareholder funds going up in smoke: "In a letter date May 16, 2017, the Company was advised by Midatech Pharma PLC (Midatech), the purchaser of Zuplenz, one of our former commercial products, that Zuplenz inventory held by Cardinal Health Inc. (Cardinal), a wholesaler, is approaching its expiration date. Midatech claims that under the Asset Purchase Agreement with the Company that such product needs to be returned. Cardinal, the wholesaler also claims that under an alleged agreement with the Company such product needs to be swapped with better dated Zuplenz product. Cardinal has not asserted the cost of the return. Midatech has advised that under the terms of the Asset Purchase Agreement, Midatech maintains that the cost of the return is $1.5 million and Galena needs to pay Midatech for the return."
Note from Ghigli to Carlos and fellow baggies: "If the Proposed Merger is not completed, we may elect to liquidate our remaining assets, and there can be no assurances as to the amount of cash available to distribute to stockholders after paying our debts and other obligations. If we do not complete the Proposed Merger, the board of directors may elect to take the steps necessary to liquidate all of our remaining assets. The process of liquidation may be lengthy and we cannot make any assurances regarding the timing of completing such a process. In addition, we would be required to pay all of our debts and contractual obligations, and to set aside certain reserves for potential future claims. There can be no assurance as to the amount of available cash that will be available to distribute to stockholders after paying our debts and other obligations and setting aside funds for reserves, nor as to the timing of any such distribution."