Radient Pharmaceuticals Corporation fka RXPC

[GetSeriousOK]

Bascally, every 2012 8K said Radient was Insolvent.

The definition of Insolvent is "unable to pay obligations." Almost every 8K in 2012 stated that Radient was unable to pay their obligations. How could anyone read the 2012 8K's and think Radient was going to survive, let alone complete a merger?

Here are excerpts from just a few:

https://www.sec.gov/Archives/edgar/data/838879/000114420412010607/v303388_8k.htm
02/23/2012

"We have a severe working capital shortage and are currently unable to pay our accounts payable and other obligations in the ordinary course of business. As at the date of this filing, approximately $966,000 of our accounts payable is overdue."

https://www.sec.gov/Archives/edgar/data/838879/000114420412017770/v307553_8k.htm
03/28/2012

"Due to the absence of any working capital, we are unable to pay the redemption prices at this time. The Company has appointed a committee of our remaining three independent directors to assess available options open to the Company to enable us to continue operations at this time."

https://www.sec.gov/Archives/edgar/data/838879/000114420412024900/v310999_8k.htm
04/30/2012

“we remain unable to pay the obligations owed to them and other creditors.”
“In addition to our inability to pay our existing obligations, we are also unable to pay our auditors and therefore cannot file our Annual Report on Form 10-K for the year ended December 31, 2011, which was due by April 16, 2012 until we pay them. We may also be unable to file our Quarterly Report on Form 10-Q for the quarter ended March 30, 2012, which is due by May 21, 2012, if our auditors are not paid before such date”

“The committee of our three independent directors continues to assess whether the Company has any other options to remain in business.”