3SOF

found this from yahoo msg board from a respectable poster:

NOTICE OF ANNUAL MEETING OF STOCKHOLDERS AND PROXY

STATEMENT

To Be Held on June 23, 2005

--------------------------------------------------------------------------------



Notice is hereby given that the annual meeting of stockholders of GlycoGenesys, Inc. (the "Company") will be held at the Park Plaza Hotel, 64 Arlington Street, Boston, Massachusetts 02116, on Thursday, June 23, 2005 at 10:00 a.m. Eastern daylight time.



The annual meeting will be held for the following purposes:



1. Election of Directors. To elect two directors to the Board of Directors, each to serve for a term of three years or until his successor is elected and qualified.



2. Increase Number of Authorized Shares . To approve an amendment to the Company's Articles of Incorporation to increase the number of authorized shares of common stock from 33,333,333 to 75,000,000.



3. Amendment of 2003 Omnibus Incentive Plan. Consideration of and action upon a proposal to approve an amendment to the Company's 2003 Omnibus Incentive Plan.



4. Ratification of Auditors . Ratification of the appointment of Deloitte & Touche LLP as auditors for the Company for the fiscal year ending December 31, 2005.



5. Other Business . Such other matters as may properly come before the meeting or any adjournment thereof.



Stockholders of record at the close of business on April 25, 2005 are entitled to notice of and to vote at the meeting or any adjournment thereof.



We urge you to read the enclosed proxy statement carefully so that you may be informed about the business to come before the meeting, or any adjournment thereof. At your earliest convenience, please sign and return the accompanying proxy in the postage-paid envelope furnished for that purpose or use the telephone or internet voting system.



A copy of our annual report for the fiscal year ended December 31, 2004 is enclosed. The annual report is not a part of the proxy soliciting material enclosed with this letter.




By Order of the Board of Directors


/s/ B RADLEY J C ARVER
Bradley J Carver
Chief Executive Officer and President



Boston, Massachusetts



issuing new shares doesnt look good ...
any thoughts?

«2. Increase Number of Authorized Shares . To approve an amendment to the Company's Articles of Incorporation to increase the number of authorized shares of common stock from 33,333,333 to 75,000,000. »

Authorized shares is different from shares outstanding, this doesn't mean they will sell more stock, it means they will be authorized to do so. Companies are always making this, it's no big deal, I believe.

Anyway, I'll stick to my trading plan and not to pay much attention to news or research for GLGS (been burned already  )

goformoney  - $3.13 as mentioned earlier was a mistake as shareholder equity is not based on share price so not a figure to care about.

As was sugessted the sompany will increase the number or shares authorized. Does not mean they will sell them right away but will have them available if needed. This was expected as it is needed for the company to raise additional funds in the future.

As was mentioned by David, the 50% retracement of of this move is at $1.46 so may be a pullback target as it is also close the the 9-day EMA. A 62% retrace still would not take away from the bullishness of the chart and it is at 1.27. I personally prefer a 3 day pullback with a move back up on the third or forth day.
I put some notes on the chart for things to watch when playing any move but especially on momentum plays. It is easy to get carried away with super fast moves so remember to take some profits along the way up.

Here is the chart

http://tinyurl.com/bq3yb

David, thanks for the clarification.

Hi David,

QuoteIs 3.13 still reasonable? The target sell price is 3.13 because of the delisting concerns. Is this price still legitimate?

I think that goformoney posed a good question here. As a trader, do you simply stick to your trading plan, even in light of new information, when you realize your target was based on erroneous info? Or do you reset your target based on the new info?

This actually reminds me of a question from a member several days ago (sorry, can't recall which) who asked about how you know when to sell. You have made several comments that selling is much harder than buying (and I completely agree), and believe you also said you would post some guidelines about knowing when to sell.

I can't speak for the other members, but I would certainly be interested in your thoughts on when to sell (on both the up and down sides). Do you have rules, guidelines, gut feelings, or strictly following technical signals?

Thank-you.

MONEY MANAGEMENT FOLKS!!
Every time I take a loss on a stock I didn't have to take, I always look what went wrong and what rule did I ignore? In this case I didn't set a hard stop on my trade and when things went sour my attention was on another stock.
Think about this, virtually none of us should have taken a loss if proper stops would have been set. The trade was looking very good the first day, and as soon as we were in the profit zone we should have moved the stops up to break even, and trailed it up as the price went up. If we would have done this, the market would have taken us out of the trade with a small profit ans NO losses.
Stops losses are an important part of trading and money managhement, but I have to admit I don't always do it and each time I don't I end up paying in the end. I promise myself to never ignore putting a stoip on any trade in the future. I know I'll do it again, but if I remember my mistake it will make me a better trader in the future.
Hope this helps.

Speaking from my own bad experience at SNDK Yahoo Message Board about a year back, I will very strongly recommend fellow 3SF members to avoid 'Yahoo MBs' all together where ppl pump and dump and in the end you only get twisted facts. Thats the most crooked place I can imagine

GLGS coninuing to fall, but on very low volume.

iS THIS A SELL AT THIS POINT?  sTRATING TO REALLY GET AWAY FROM US, PLEASE ADVISE.  tHANKS

IMO it was a sell just after the bell yesterday when it failed to make any attempt to make up the huge drop from the day before. That's when I pulled the plug at 1.62 and took a loss.
I would say this fall won't stop until the $1 level or below, but that's just my opinion.
Good Luck to All

One thing could change everything: NEWS

Since beginning of May they have been releasing news EVERY WEEK.
This week nothing for now. Could be tomorrow, could be next week. There's a new lymphoma conference at the beginning of July...

keep in mind we bought for an event, the event was false, now technical is breaking, you have to keep a sell discipline or you violate evrything

I think a smart idea would be to stay in (if you can) till next news are out (hopefully not more than a week) and then see from there.

Holding long might be OK if you don't mind taking a 10-15% hit each day until news MIGHT hit.

Now let's not panic. My plan is to patiently wait until the close, then carefully study the day's chart. Only then will I confirm that I'm the dumbest lemming on the planet! 

Good thing I put that stop loss in - oh wait....