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To: nokomis who wrote (194730)	6/15/2009 11:34:01 AM
From: blind-geezer	Read Replies (1) \| Respond to of 208838

you should not be that busy sell at the open HOD for 0.19, buy at LOD at 0.11, that is it, NO ???

To: nokomis who wrote (194730)	6/16/2009 11:24:10 AM
From: Connor26	Respond to of 208838

Nok on CTIC ... Cell Therapeutics(CTIC Quote) is expected to disclose soon whether holders of $119 million of the company's debt have accepted a tender offer to exchange cash and company stock for their notes. The amended debt tender offer expires at 5 p.m. EDT Tuesday. Just more than half of Cell Therapeutics' debt comes due next year, placing the company in a precarious financial position. The company has been trying to convince holders to accept less than par value for their notes but has been forced to sweeten its offer a couple of times already. On June 2, Cell Therapeutics raised the exchange rate of its current debt tender offer significantly, but with a catch: Bondholders have to accept almost twice as much stock and relatively little cash this time around. Cell Therapeutics is offering $134.50 in cash and 458 shares of common stock for each $1,000 in convertible debt. At Monday's closing stock price of $1.61 a share, the total exchange offer was worth about 87 cents on the dollar. However, that is down from a total exchange offer of just over 92 cents on the dollar on June 2 when the new deal was announced because Cell Therapeutics' stock price has fallen. Bondholders have to sell the stock Cell Therapeutics gives them in order to recoup their investment. This means the actual value of the exchange offer will likely be even lower because bondholders will assume that Cell Therapeutics' stock price will fall as a result of heavy selling pressure. The other complicating issue is the declining volume of Cell Therapeutics' shares trading hands each day. This makes it harder for bondholders to liquidate the stock they receive in the exchange offer. Trading volume in Cell Therapeutics shares on June 2 was more than 77 million shares, but it dropped to as low as 13 million shares on June 10 and was only 37 million shares Monday. At Monday's stock price, Cell Therapeutics would be issuing slightly fewer than 50 million shares to bondholders. If Cell Therapeutics is successful with its debt tender offer, the company still has money problems to solve. The company's cash reserve is set to run dry in August, according to a recent filing with the Securities and Exchange Commission. Cell Therapeutics has taken further cost-cutting steps to make its cash last longer, but that didn't prevent management from accepting deferred cash bonuses from 2008 last week. Cell Therapeutics will need to raise more cash -- perhaps by selling even more stock -- if it wants to continue the development of its cancer drug pixantrone, among other projects. The company already has more than 452 million shares outstanding as of the end of April.