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luck isn't enough for someone asking others on a message board to do their DD.
The SEC filings tell the whole story. They are free to read.
beginning of a new life?
the people who bought this stock in 2010-2011 thought the same thing.
Global Cancer diagnostics does not have a license to release the test.
When/if they do release the test, the FDA is going to investigate.
jimtash, do you think SRL is still selling DR-70? If you thjink so, please provide proof. A link would be fine.
There is nothing going on behind the scenes.
That is wishful thinking on your part.
Yes, several people said "buyout."
Consider their motives.
News on a weekend is never good news for the company.
Never.
" It will not take long for that to be proven wrong either."
Define "not take long."
NuVax exists on paper only. there are no officers or BOD members or company. Everyone left NuVax in 2012.
LinkedIn is a notoriously innacurate place to get information.
I don't think SRL is selling the test any more.
https://www.srl.in/secure/frmviewIR.aspx
Didn't you used to be able to find test 409 in this "info" list?
it still comes up under "Find a Test" but you can't read about it anywhere. You could also find it alphabetically by Fibrinogen but it no longer comes up in this "Test Information" list.
I think SRL finally ran out.
Check out NVDL. Novadel had FDA clearance for multiple devices, but went out of business because doctors didn't like their devices.
Exactly what happened to Radient.
Radient had FDA clearance for onko-sure. They have patents too. But if the device doesn't generate enough revenues to pay for operating costs, the company fails.
They are also asking for damages.
Can you imagine losing $30,000 on a stock play?
Many people lost that much or more on RPC in those golden days. The question is, how much of it was because of the Mayo Study PR and how much was because of Garza insisting there was a $4.50 buyout offer on the table, there would be no delisting, and the $12 million in revenues from Guar Diagno was an ACTUAL sale, not a potential sale?
I wonder if MacLellan is offering that as a defense: "Sure they lost money, but only a small part of it was caused by the Mayo Study PR. Look at all the other misleading PR campaigns we had going at the time."
What are "participants?" Witnesses?
There are four plaintiffs. There must be hundreds of Class Members. There was a lot of trading action in the Class Period. Garza had just delivered his second "analysis" of RPC and the PPS was over a dollar.
Perhaps I should rephrase my point:
White Bay does not believe in the buyout rumor.
Vtrader Pro does not believe in the buyout rumor.
blackpantherz is hurting hsi case by posting those 13F's. I'd like to see blackpantherz or anyone else post a 13F of a fund or institution that is holding any significant amount of RXPC. I don't think such an institution or fund exists.
"Mr Mackay is working hard to reactivate PDMI and make a new start with new management. "
maybe he is, maybe he isn't.
My point: don't invest in a stock just because someone on a message board says the BOD is doing something. If it isn't in an SEC filing, it's merely rumor.
That annual report painted the picture of a dead company. Not a dying company -- a dead company.
Yes I think you are correct and I am wrong.
they had 2 cents worth of stock.
sorry, my bad. I didn't understand how 80 shares could equal $0.02 so I tried to figure out math that made it work.
Forgive me if I do not change my sentiment to "strong buy" based on this revelation.
I still don't understand why blackpantherz is posting this stuff.
It's ironic that you're posting evidence that institutions are NOT holding this stock.
If Radient has insurance to cover the legal proceedings.. and they apparently do, because otherwise they could not afford lawyers....
Then, win or lose, this trial will have no efefct on the company. No sinking and no swimming based on this trial.
The only people making any money off this trial, IF ANYONE, will be the plaintiffs' lawyers.
After the trial, this stock will be in the same place it was last week, last month, last year, IMO.
VTrader Pro owned ZERO Radient shares in this 13F.
Why do you copy/paste this stuff? Are you copy/pasting every reference on the internet that mentions Radient without reading it?
And why not just post the URL?
look for yourself:
http://www.sec.gov/Archives/edgar/data/1531593/000153159313000008/13Fposqtr12013.txt
in May, White Bay owned 0.02 shares of RXPC -- yes, LESS THAN ONE SHARE.
Here's the math. they own 2.00E-05 which equals 0.00002 -- the numbers in that column are x1000 so multiply that by 1000 and you get .02 shares.
How does that happen? Own one share, hold that through the first R/S of 2:1 and they had 0.5 shares... then hold that through the 25:1 R/S equals 0.02 shares.
So why did blackpantherz copy/paste that? Good question. Care to answer, BP?
I bought PDMI in 2009 because of positive reports on this board from the moderator. He claimed to be talking directly to Davis and said the ParaMax was on track to be cleared by the FDA.
None of it was true.
I learned an Important Lesson from my losses here: Don't believe ANYTHING you read on these boards. If someone says they are talking directly to Mackey, there are new investors lined up, and everything looks rosey here, I say, "The 2012 annual report signed by Mackey just last week paints a different picture."
That 2012 annual report looks real and it says, in effect, that this company is DEAD. They renegotiated the debt but they can't pay even the renegotiated $150,000. Operations ceased 10 months ago. They were KICKED OUT of their building and dumped most if not all of their assets in a Sheriff's Sale.
CSO needs some company in the USA to submit a new 510(k) app to the FDA, but they certainly aren't waiting for PDMI to rise from the ashes -- if/when CSO is ready to submit the Retimax device again, they weill find a new partner. Without Retimax, Paradigm has no future.
What evidence do you see for a reverse merger, other than a message board rumor started in 2011?
When that "reverse merger" rumor was created, this company was listed on the AMEX, had $20 million in Jade equity on their books, had a O/S of about 35 million and an A/S of about 70 million, and was promising $12 million in revenues from India in 2011.
It's absurd to think that "reverse merger" is still in play after the company was delisted, the A/S went to 5 billion, the $12 million revenue projection from India turned out to be ZERO, and the $20 million Jade equity turned out to ZERO.
Call it a reverse merger, backdoor merger, friendly takeover, or creeping takeover -- I call it... nonsense.
It's no wonder this company defaulted on every loan they signed. Yes EVERY loan. The previous CEO Dreher didn't take out loans -- he financed the company with private placements. The current CEO MacLellan never did private placements -- he borrowed money, and then defaulted on EVERY loan.
Nobody knows the current debt. The last time it was divulged, it was $18 million, when they stopped operating. They had no way of paying that $18 million back so accruing interest must have the debt over $20 million by now -- and that is a conservatuve guess, IMO.
Penny stocks do NOT go from .0001 to .01 "all the time."
Unless they do a 100:1 reverse split -- and even then the PPS usually drops quickly from .01
Furthermore - I don't know who told you "major news" is coming for this stock, but you might want to read the SEC filings before you start choosing a color for your new Lamborghini.
that patent has nothing to do with RXPC.
the authors are responsible for the abstract.
Pfizer merely printed the PDF at a conference.
dcspka, look for yourself.
http://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=3&ved=0CDQQFjAC&url=http%3A%2F%2Fwww.ersnet.org%2Flearning_resources_player%2Fabstract_print_13%2Ffiles%2F272.pdf&ei=xLl9UqbfOIjyrAGnjYCoCg&usg=AFQjCNGgURTC8WRQs6IGGCuXbyY27rx8Nw&sig2=NyUBbHu7jVuvBzKyiI0I_Q&bvm=bv.56146854,d.aWM&cad=rja
there is no mention of Pfizer, other than the footer of the PDF on EVERY PAGE, where it says:
Abstract printing supported by . Visit Pfizer Vaccines at Stand Q.01
blackpantherz is incorrect. Do you understand?
You didn't follow blackpantherz' link then.
There is no relationship between Pfizer and Radient.
Phizer never heard of RXPC.
Follow blackpantherz link. A page that mentions the failed DR-70 study has an ad for Pfizer in the footer.
"Pfizer boys?"
At the bottom of the PDF page, there's an ad for "Pfizer supports the printing of abstracts" - that's your link between Pfizer and DR70?
that is your big pharma news?
Why do you say "huge in Europe?" Dr-70 revenues from Europe have always been poor.
Why do you say "huge in India?" Guar Diagno failed to get government support, and SRL doesn't have doctor or government support.
The $12 million "India Deal" from 2011 turned out to be false.
Why do you say RXPC is a prime buyout target? Anyone wanting to manufacture and/or sell DR-70 and/or gain full rights to the intellectual property can accomplish that for about $100,000 a year as UNI did and GCDx tried to do.
Hunter is representing MacLellan. From April 2011:
"ORDER by Judge David O. Carter: granting 4 Application to Appear Pro Hac Vice by Attorney Mark David Hunter on behalf of Defendant Douglas C. LacLellan and Aiko Ariura, designating Ho-El Park as local counsel."
"The aims of this study were to evaluate the role of DR-70 immunoassay in suspected malignant PE."
"Conclusions: DR-70 assay has high sensitivity in detecting underlying lung cancer, but has no role in differentiating malignant PE from non-malignant PE."
That is a fail. All these studies you're quoting are either old or FAILS.
No, DR-70 doesn't detect anything differentiated.
It is a tumor marker. if it reads positive, there is a 95% chance there is cancer somewhere in your body. If you have no other symptoms, good luck finding it -- which is why doctors don't like DR-70.
Zero big pharmas are interested in Radient.
They have no reason to acquire Radient. Any "big pharm" that wanted to manufacture, develop, and/or sell onko-sure could simply license it from MacLellan for $100,000 per year.
what reverse split are you talking about?
If you mean the 25:1 reverse split -- that happened because Radient was still trying to pay off the debt. The left the A/S at 5 billion and did the R/S to drop the O/S so they could then dilute and convert debt to shares.
Unfortunately, the PPS tanked. The debt conversion didn't even keep up with loan interest.
let's step back in time to 2011....
follow the link to the post I'm replying to.
notice how everything said by Garza in this "report" proved to be false.
I'll gladly pay you Friday for some PPS today.
Longs should finance GCDx.
Gartner only needs a couple million $$$ to get his internet-sales business running. He only needs a couple hundred thousand $$ to get the license from Radient to manufacture and sell. He was only looking for $10,000 on Fundable.
If you think onko-sure is a multi-billion-dollar test, this is your chance to get in on the ground floor and make huge profits.
But the GCDx website is inactive and they don't respond to inquiries. Strange......
We're talking billions?
Who is "we?"
I haven't seen anyone "talk about billions" other than message-board "longs" and a couple of disreputable analysts who stopped talking about this company over two years ago.
The CEO used to forecast revenues in the millions, but when actual revenues came back as about 5% of guidance, he stopped releasing those forecasts.
Any potential buyer is going to look at the books and be amazed that a tiny biotech like this could, in one quarter, burn $2,000,000 while generating $300,000 in gross revenues on a device that is out of the development stage. And lose $85,000,000 in a year? That is almost too fantastic to believe, but there it is in the SEC filings.
Radient has been trying to sell the test globally since 1996. After 15 years, they had to stop operations and lay off the workers because they ran out of cash. They defaulted on every loan they took out, and owe $900,000 for unpaid utilities and supplies. We don't even know if they ever paid MVSS -- at the time they released the infamous Mayo PR, they had not paid MVSS yet.
Those are the facts. Based on these facts, I think their debt is EVERYTHING. You think their debt is "nothing." I can't understand why you think that.
The "FDA [cleared] cancer test kit" you're referring to is onko-sure, which is cleared for CRC monitoring only, in conjunction with CEA. The only other test cleared for that purpose is CEA. Doctors have a choice: use CEA alone, or use CEA combined with onko-sure.
The poor revenues for onko-sure indicate that most doctors choose to use CEA alone.
Pharma companies are not trying to save the world or cure cancer -- they are trying to make money. Onko-sure is not profitable.
So, to answer your question "why wouldn't another pharma company want to buy them out," My answer is:
1. Radient's debt is prohibitive.
2. Radient's only product, onko-sure, is not profitable.
Thast is the short answer. In addition, Radient is running out of a key ingredient for onko-sure since 2009 and has not officially found a replacement for it. When/if they find a replacement, they will likely need to submit a new 510(k).
Radient has another undeveloped product, CIT, but Radient declared in their last 10-K that CIT was not worth developing, and wrote it off 100% -- here is a direct quote from the 10-K:
"Due to the following conditions at December 31, 2010, we decided to impair the remaining balance of our CIT asset:
· Lack of any potential future revenue;
· Lack of future cash flows;
· High cost of future clinical studies; and
· Limited time remaining on the patent."