GNBT - Have held this on and off for the past 2-3 years. Overall I've lost money on it, not a lot, and needed a tax loss.
I finally pulled the trigger at .77 after I saw the PR about the Canadian patent. This caused the rise in price during the day.
Mysteriously, the news about the reduction in the convertible price from .80 to .62 was NOT in the typical news sources. I picked it up on AlphaTrade. I had originally thought the .80 figure was bullish, but now they sneak in a reduction, rather than doing it at the time of the original transaction, just to mislead shareholders IMO.
So, after sticking with it because of the promise, the need, and the hope that this is not a scam and will indeed finally come through, I sold out.
I figure if the big boys say they will convert at .62, the price should go down to that level or even lower.
At that point, I may very well buy in. But it is time for management to become shareholder friendly and perhaps give back some of the nice perks, options, shares and 6 figure pay to save this company.
JMHO - good luck all longs. |
