GLIF.OB - News

[runforthedoor]

  EXPLODING 

http://www.pinksheets.com/quote/news.jsp?url=fis_story.asp%3Ftextpath%3DCOMTEX%5Cbw%5C2005%5C10%5C24%5C71636168.html%26clientid%3D168%26provider%3DBUSINESS_WIRE&symbol=GLIF

[runforthedoor]

UP 190% at .05 now...... the last time it took off a few weeks ago it went to .17 before imploding....can it do it again? 

[setravis]

Nice pick Ouch!!!,
Looks like it is trying to make some noise again.
Applaud your work.

[David Randolph]

On September 23rd GLIF.OB rose 1200% (from $0.01 to $0.13) because of this news:

Grant Life Sciences Awarded Patent for Vital Components of Blood-Based Cervical Cancer Test

Today it rose 135% (from $0.017 to $0.04) on this news:

Grant Life Sciences Expects to Begin Generating Revenues from Sales of its Rapid Tests for Malaria and Dengue Fever Before Year's End

Volume was much higher today than on the last rise, which tells me the stock price will go above the previous high of $0.131, so I see at least a 225% rise over the short term.

There's no doubt there will be plenty of speculation on this $2.34M micro cap stock.

From the news:

«MURRAY, Utah--(BUSINESS WIRE)--Oct. 24, 2005-- Grant Life Sciences (OTC Bulletin Board: GLIF - News) announced today that it expects to begin generating revenues this year, possibly within 30 days, on sales of its rapid tests for Malaria and Dengue Fever. These products, along with rapid tests for HIV-1 and HIV-2, were acquired earlier this year from AccuDx Corp., a biotechnology company based in La Jolla, Calif., founded by Ravi Pottahil, Ph.D., one of the world's leading authorities in the field of HIV/AIDS diagnostics and therapeutics.»

I will buy 10% of the 3 Pennies on Fire Portfolio on this penny stock at tomorrow's open.

[Ramsburg]

Bought GLIF.OB @ $0.046 for the 3Pennies Portfolio.

[DannyOhad]

Wow, what a drop 

[irod]

Not really. That's the whole point of penny stocks, volatility.

[Loffigus]

Ouch, down 30% overnight!

[irod]

Yes, and on Sept 23. +1200% overnight. That's how these pennies/micropennies work. That's why you should only play these if you're willing to take the risk/volatility, and with a small part of your portfolio.

[dhiraj19]

Hi David,
Can you put your analysis for this stock? I was waiting for your opinion ( Words of wisdom) 

- Dhiraj

[owen654321]

I have money in GLIF, and now I see that there are warrants issued for up to 196 million shares at .011.  No wonder the volume is higher and it didn't move very much... ack.  I don't know whether or not to cut my losses now (~20%), or hope for a miracle...... any thoughts/ideas?

[cc1120]

I have money in GLIF too.
where did you get the information that 196million shares issued at .011?

[owen654321]

I have money in GLIF too.
where did you get the information that 196million shares issued at .011?

Tue, Sep 6, 2005
• GRANT LIFE SCIENCES, INC. Files SEC form 8-K, Entry into Material Agreement, Financial Obligation Matter, Sale of Equ
EDGAR Online (Tue, Sep 6) 

http://biz.yahoo.com/e/050906/glif.ob8-k.html

"The Notes bear interest at 10%, mature three years from the date of issuance, and are convertible into our common stock, at the Investors' option, at a conversion price equal to the lower of (i) $0.40 or (ii) 50% of the average of the three lowest intraday trading prices for our common stock during the 20 trading days before, but not including, the conversion date. As of August 30, 2005, the average of the three lowest intraday trading prices for our common stock during the preceding 20 trading days as reported on the Over-The-Counter Bulletin Board was $0.021 and, therefore, the conversion price for the secured convertible notes was $0.011. Based on this conversion price, the $2,000,000 Notes, excluding interest, were convertible into 190,476,189 shares of our common stock. "

You have to dig... I jumped ship today and took a 20% loss on most of my GLIF holdings (still holding a few, for what reason, I do not know... maybe wishful thinking).  Can someone correct me if I am reading the above incorrectly?  For instance, there is a statement later on in the filing that states that the investors agree not to gain control of over 5% of the company... I wonder how that will work if they obtain 190 mil shares...(?)  Does this mean they will have to sell the shares immediately, or that they will limit the rate of note conversion?

If someone with more experience reading these things could check it out, it would be much appreciated by several people, I'm sure!

[runforthedoor]

  In at .016, out at .041, and back in at .026 today......LOOK at Elite's chart at this link. It may be ready to go higher. 

http://www.3stocksonfire.org/trading/index.php?topic=1374.990

[David Randolph]

Good morning !

owen654321, I read that excerpt too, and it's incomprehensible. Information is contradictory, they say the notes have a 3 year maturity and next they say they were already converted. They talk about warrants convertible to 7,692,308 shares and then 190,476,189.

At the end, they say this: «The Investors have contractually agreed to restrict their ability to convert the Notes and exercise the Warrants and receive shares of our common stock such that the number of shares of the Company common stock held by them and their affiliates after such conversion or exercise does not exceed 4.99% of the Company's then issued and outstanding shares of common stock.»

There are two ways to clarify this issue. One is to write the company's investor relations, the other is to read the entire agreement, which would take me about 2 hours, I believe.

I don't have time for that, at least not now (maybe over the weekend). Do you want me to copy paste the entire agreement?

I'm finding these penny stocks much harder to analyze and trade than regular stocks 

I see a 35% loss in just 2 days on GLIF.OB, and looking at the chart, it looks like the stock barely moved ... and no technical damage was made !

Very far from perfect information I have to trade with what I got, and that is the revenue expectation from the company before the year end and a bullish chart.

I wonder if Pink Sheets aren't better than OTCBB stocks ... but there I can't even find the market cap, how can one trade without that basic information?

I will continue holding GLIF.OB, though.