GTG - Genetic Technologies

[greggles]

Trading halt for Genetic Technologies until after the General Meeting of Shareholders scheduled to take place at 10:00am AEDT tomorrow. Two directors, Dr Malcolm R. Brandon and Mr Grahame Leonard, have also resigned today. Things are getting ugly. It looks like change is in the wind for GTG.

 

[greggles]

An update on GTG.

At the general meeting of shareholders held on 31 January, the existing board was ousted as expected and three new directors were appointed. Later that same day, the company requested a voluntary suspension "pending an announcement of a proposed capital raising and strategic alliance."

CEO Eutillio Buccilli resigned on 6 February and Dr Paul Kasian was appointed acting CEO while the company undertook a search for a new permanent CEO.

On 15 February Genetic Technologies announced the details of a strategic alliance with Blockchain Global Limited and a capital raising. To secure additional working capital, the Company mandated Lodge Corporate Pty Ltd to assist in a proposed private placement of up to 324.7 million new GTG fully paid ordinary shares at an issue price of 1.4c per share.

Today the company announced a strategic alliance with Omix Ventures Private Limited, the operator of Project Shivom, which plans to accumulate and create the world's largest sequenced genetic database.

What has happened to the GTG share price in the intervening five weeks? It has gone absolutely nowhere.

 

[Cam019]

Catalyst

 

[barney]

Catalyst

View attachment 88410

Its a few months ago @Cam019 but GTG up 27% to 0.014 today off the back of an Investor Presentation release

 

[Ann]

Up 57.14% so far today to .011

Genetic Technologies launches two new early-warning cancer detection tests

Genetic risk assessment company Genetic Technologies (ASX: GTG) has unveiled two new ground-breaking cancer risk assessment tests for both colorectal and breast cancer.


Branded as “GeneType for Colorectal Cancer” and “GeneType for Breast Cancer” the two tests combine information from genetic markers called “single nucleotide polymorphisms” to assess how people’s genetic make-up affects their risk of developing various diseases.


GeneType for Colorectal Cancer is a test that can determine a patient’s risk of developing colorectal cancer over a period of time. The test considers patients’ age, family history and a series of genetic markers to provide a more accurate assessment of colorectal cancer risk. More...

 

[frugal.rock]

Have had this one on a buy watchlist for a while now, but I am only just starting to get interested...
any current TA @barney ?
I believe the bank of new York melon heads own 70% or so of this one.
Feeling like it's due for a "cycle" perhaps.... or is it another "festering canker" as @peter2 might describe it?

F.Rock

 

[barney]

any current TA @barney ?
I believe the bank of new York melon heads own 70% or so of this one...or is it another "festering canker"

Lol ... "Festering Canker" indeed!

Quick look at it .... First impression; It scares me (see, I'm scared)

Why am I scared? (I'm glad you asked)

BNYMC do own 63.26%. If I have calculated correctly, that means the total shares on issue is over seven and a half billion (that's not a typo)

So Approx. 7,544,377,001 (I'm scared again!)

As per chart mumblings ... It is a punt, but of course, anything involved in the medical world can go exponential at the drop of a hat.

Personally, if I liked the Co. I might put a lazy $1K on it that I was prepared to lose and hope for a miracle 20 bagger somewhere down the track .... then i'd buy my wife a new kitchen

PS If the Stock bombs, i would conveniently forget to tell my wife anything

 

[Dona Ferentes]

as commented elsewhere (alonso)
"I don't think I've ever seen an ASX query or the response to it like this.
A deep sea fishing expedition and who knows what they'll catch"

GTG up 100% on Friday and holding today

 

[Garpal Gumnut]

as commented elsewhere (alonso)
"I don't think I've ever seen an ASX query or the response to it like this.
A deep sea fishing expedition and who knows what they'll catch"

GTG up 100% on Friday and holding today

This is an amusing thread. How many Billion shares are now on issue. Some fund needed a catchup today after the US Depositries were issued adding another 600 Million shares to the pot.

It is pointless doing a chart. I read the prospectus for the most recent US Gulls ( the ones who elected the Orange Fool as President ). I said to myself if it mentions gene exploration of humans re propensity for catching Covid 19 I'll post to this thread.

It DID.

Lets see the Mellons offload billions of shares to hipsters stuck at home reading financial tip sheets.

gg

 

[Country Lad]

This is an amusing thread. How many Billion shares are now on issue.

Only 7.5 billion, so the latest issue was hardly noticed.

Mind you, it is nowhere near the gold star winner, UUV with 792 billion and issuing another 1.5 billion.

 

[Garpal Gumnut]

atm. A good buy sell spread.

Buy 0.2 Billion Sell 0.12 Billion

At least buyers won't miss out on scrip.

One would need a big bottom drawer in which to store them for the long term.

gg

 

[frugal.rock]

Lets see the Mellons offload billions of shares to hipsters stuck at home reading financial tip sheets.

Mellon's holding firm...
For a punt, am now holding a small portion. Hoping on a popping FC at some stage... (when a bank owns around 75%, surely something will give sooner or later, a dart is thrun....)