Genta, Inc. (GNTA) Message Board

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Biotech / Medical : Genta, Inc. (GNTA)

GNTA 2.300

+0.4%

Nov 7 9:30 AM EST

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To: bob zagorin who wrote (1724)	7/16/2003 12:23:41 PM
From: Madharry	Read Replies (1) of 1870

This is a very misleading statement. I don't know if it is purposeful or just shoddy journalism. 1.the 5.5 million shares does not represent 40% of the outstanding shares but more like 7%. there are about 74 million shares outstanding. So he distributed less than 25% of those shares- not exactly a vote of non-confidence 2. Many of the shares being distributed are not to individual investors but to hedge funds, some of which continue to be controlled by Rosen.... 3. there is a statement that accompanied this notification that Rosen... reserves the right to purchase shares in GNTA from time to time. I believe that maximum pain on the option is about 12.5. Looks like i should have waited to take a position. looks like they may hit the target right on the nose.

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