I guess, they simply add the traded volume of the stocks mentioned... that makes it hot. Say GNTA a few times more <gg>
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As of the record date, 1,014,111,706 shares of our Common Stock, par value $.001 per share, were issued and outstanding, 7,700 shares of our convertible Series A Preferred Stock, par value $.001 per share, were outstanding, and $10.6 million of Senior Convertible Promissory Notes were outstanding.
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They deo new financing and seek a RS:
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Purpose of Proposed Reverse Stock Split
According to the terms of our 2009 Notes (as defined below), we must effect a reverse stock split within a certain amount of time following the 2009 Initial Closing (as defined below) or be in default under the terms of the 2009 Notes.
On April 2, 2009, we entered into a securities purchase agreement, or the Securities Purchase Agreement, with certain accredited institutional investors to place up to $12 million of senior secured convertible notes, or the 2009 Notes, and corresponding warrants, or the Warrants, to purchase common stock, or the Financing. The Company closed on approximately $6 million of such Notes and Warrants, referred to herein as the 2009 Initial Closing, on April 2, 2009. The 2009 Notes will bear interest at an annual rate of 8% payable semi-annually in other senior secured convertible promissory notes to the holder, and will be convertible into shares of the Company’s common stock at a conversion rate of 500,000 shares of common stock for every $1,000.00 of principal amount outstanding.
<<<<<< 6MM in notes will convert into 3B new shares >>>>>>>>
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An increase in the per share trading value of our Common Stock would be beneficial because it would:
• improve the perception of our Common Stock as an investment security; BWAHAHAHA
• reset our stock price to more normalized trading levels in the face of potentially extended market dislocation;
• appeal to a broader range of investors to generate greater investor interest in us; and
• reduce stockholder transaction costs because investors would pay lower commission to trade a fixed dollar amount of our stock if our stock price were higher than they would if our stock price were lower. |
