Radient Pharmaceuticals Corporation fka RXPC

[GetSeriousOK]

AMDL Dx is not a spinoff. That means RXPC shareholders do not own shares in AMDL Dx.

http://www.legalandcompliance.com/spin-off/

"A spin-off is when a parent company distributes shares of a subsidiary to the parent company’s shareholders such that the subsidiary separates from the parent and is no longer a subsidiary."

Or we can consult the SEC:
https://www.sec.gov/answers/spinoffs.htm

"In a "spin-off," a parent company distributes shares of a subsidiary to the parent company's shareholders so that the subsidiary becomes a separate, independent company. The shares are usually distributed on a pro rata basis. State law and the rules of the stock exchanges determine whether a company must seek shareholder approval for a spin-off. "

Radient talked about spinning off Jade and NuVax, but that was just hype to placate the lenders. Radient never even TALKED about spinning off AMDL Dx. And Radient never spun off any of the three.

How do we know that? because, as the SEC says in the URL above,

"The spin-off company does not have to register the shares of the spin-off under the Securities Act of 1933 if it meets certain conditions. One of the conditions requires the parent company to provide adequate information about the spin-off to its shareholders and the trading markets."

Shares were never registered and Radient never notified shareholders, so we know without question that none of these three wholly-owned subsidiaries were ever spun off.

And that is proof that RXPC shareholders do not own a single share in AMDL Dx, NuVax, or Jade.

If the Villagers still can't grasp this, perhaps "Investopedia for Dummies" has a chapter about the difference between wholly-owned subsidiaries and spin-offs.