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What current shareholder DON'T want to hear.
RESTRUCTURE.
"The Company is currently insolvent and the new Board of Directors and the new senior management of the Company have been appointed to attempt to restructure the Company."
This mean BANKRUPTCY.
Current shares would be voided.
Lenders would have to take shares for their debts.
Someone would have to provide debtor in possession financing to effect the bankruptcy.
This ends all speculation of a merger, buyout or takeover.
Sec notice to revoke registration of securities.
From the below statement in the 8k, the SEC has sent Radient a notice to revoke their registration.
"On April 15, 2014, the Company executed an Offer of Settlement with the Securities and Exchange Commission (“Commission”) pursuant to Section 12(j) of the Securities Exchange Act of 1934, revoking the registration of the Company’s securities."
The company has now sent the SEC an offer of settlement.
Dspka and guard,
LC Sentinel is just a DR70 test for smokers and former smokers.
Where is your proof to your claim that LC Sentinel is some sort of different test?
The following is from an old press release from 2010.
"In conjunction with today's announcement, RPC and Provista also announced the two Companies will execute an exclusive lab partnership agreement where Provista Life Sciences will purchase RPC reagents exclusively for the development of LC Sentinel™."
http://www.marketwired.com/press-release/radient-pharmaceuticals-provista-life-sciences-announce-new-blood-test-lung-cancer-nyse-amex-rpc-1334094.htm
DR70 kits are currently being sold by Antibodies on line.
"I would be to happy help you find the right antibody, protein, or ELISA kit from our extensive product catalog.
Client Who is manufacturing this test
Ryan Robinson, PhD One moment please and I'll look into that for you.
This kit is supplied by Elabscience.
Can I help you with anything else?"
I looked up Elabscience and they are in China.
http://ewtfl720.en.ec21.com/
It is obvious that Elabscience does not feel they need any license to manufacture and sell a DR70 kit.
http://www.antibodies-online.com/kit/1117650/Tumor+Marker+DR-70+For+Lung+Cancer+ELISA/
Dcspka, "the lung cancer test" is just a renamed LC Sentinel test. All it measures in the level of fibrin degradation products in the blood of smokers and former smokers.
Dcspka, you are being extremely foolish if you think LC Sentinel and DR70 are different tests.
The DR70 test was a device to test the general population for the level of fibrin degradation products.
Onko Sure is a device to test former colon cancer patients for a level of fibrin degradation products.
LC Sentinel was a device to test smokers and former smokers for a level of fibrin degradation products.
Let me know when truth finally becomes clear in your eyes.
Dcspka, the money was placed in the account months ago after the settlement agreement. Nothing has happened with any imaginary "takeover" group since and never will.
Dcspka, if you really paid attention, you would have read in the settlement papers filed on March 23, 2014, that the settlement money had indeed been paid and was in an account drawing interest.
The settlement of the class action is now meaningless to anyone except the lawyers, lead plaintives and the class action group. The lawyers are going to get almost half the money. Two filings were submitted protesting the lawyers share and will have to be decided by Judge Carter.
That is just a bunch of lies.
There is no LC Sentinel reagent to be combined with DR70.
LC Sentinel is just a DR70 test used to test smokers and former smokers only. That is how the specificity was increased. If you reduce the testing basis to a group more likely to have cancer, the specificity will naturally increase.
There is ZERO connection between UNI Pharma and Gartner nor with ProvistaDx.
All of this speculation is just pure garbage.
RXPC is NOT having a lot of "Buzz".
All of the stuff posted on this board hyping Radient is just fabricated in an attempt to justify their false hope that Radient will be purchased, merged or whatever.
Why would they wait until the money was in escrow for the Rosen lawsuit? It's just 2.5 million. What about the $30 million in notes still due the lenders?
It is just pure hogwash to say the money is no longer owed to the lenders. Just where do you think all those 5 billion shares came from? If it was not the lenders converting warrants and preferred shares, just where did the 5 billion shares come from? From the sales of shares, you can clearly see that the 24% interest rate on the notes was much, much more that the sales ever generated from the 5 billion shares. The lenders even paid Radient $350,000 to filed a late 10k to make it legal for them to continue selling shares. All of the sales after that 10k filing never even generated the $350,000 back that they paid.
The lenders got totally shafted by Mac and his crew.
Your post does not show any connection between GCDx and ProvistaDx at all.
However, it does show that the agreement between RXPC and GCDx was indeed cancelled. There is no agreement between Gartner and RXPC.
Your postings claiming some sort of agreement is just pure fiction.
Again, you are posting false information.
Gartner did not raise any money via ProvistaDx. ProvistaDx dropped the lung cancer test and for additional proof, why was Gartner still looking for financing for GCDx even after ProvistaDx had their first financing.
You need to start posting the truth. There is absolutely NO CONNECTION between Gartner's GCDx and ProvistaDx.
Your post is a totally false.
No trademark was ever transferred to Arizona. Below is the current information about the trademark from the USPTB.
http://tsdr.uspto.gov/#caseNumber=77664344&caseType=SERIAL_NO&searchType=statusSearch
Mark:DR-70 Trademark image
US Serial Number:77664344 Application Filing Date:Feb. 05, 2009
US Registration Number:3843610Registration Date:Sep. 07, 2010
Register:Principal
Mark Type:Trademark
Status:Registered. The registration date is used to determine when post-registration maintenance documents are due.
Status Date:Sep. 07, 2010
Publication Date:Jun. 22, 2010
Mark Information
Mark Literal Elements:DR-70 Standard Character Claim:Yes. The mark consists of standard characters without claim to any particular font style, size, or color. Mark Drawing Type:4 - STANDARD CHARACTER MARK
Related Properties Information
International Registration Number:1011476 International Application(s) /Registration(s) Based on this Property:A0016805/1011476
Goods and Services
Note: The following symbols indicate that the registrant/owner has amended the goods/services: Brackets [..] indicate deleted goods/services;Double parenthesis ((..)) identify any goods/services not claimed in a Section 15 affidavit of incontestability; andAsterisks *..* identify additional (new) wording in the goods/services.For:Reagents for clinical medical laboratory use sold as a component of a diagnostic kit for disease testing International Class(es):005 - Primary Class U.S Class(es):006, 018, 044, 046, 051, 052 Class Status:ACTIVE Basis:1(a) First Use:May 01, 1996Use in Commerce:May 01, 1997
Basis Information (Case Level)
Filed Use:Yes Currently Use:Yes Amended Use:No Filed ITU:No Currently ITU:No Amended ITU:No Filed 44D:No Currently 44D:No Amended 44D:No Filed 44E:No Currently 44E:No Amended 44E:No Filed 66A:No Currently 66A:No Filed No Basis:No Currently No Basis:No
Current Owner(s) Information
Owner Name:AMDL, Inc.
Owner Address:2492 Walnut Street
Tustin, CALIFORNIA 92780
UNITED STATES
Legal Entity Type:CORPORATION State or Country Where Organized:DELAWARE
Attorney/Correspondence Information
Attorney of Record
Attorney Name:Louis C. CullmanDocket Number:1958416-0001
Attorney Primary Email Address:OCIPgroup@klgates.com Attorney Email Authorized:No
Correspondent
Correspondent Name/Address:Louis C. Cullman
K&L GATES LLP
1 Park Plaza, 12th Floor
IRVINE, CALIFORNIA 92614
UNITED STATES
Phone:(949) 253-0900Fax:(949) 253-0902
Correspondent e-mail:chicago.trademarks@klgates.com maria.nadal@klgates.com Correspondent e-mail Authorized:Yes
Remember, this is supposedly the all important patent application many here claim Gartner is waiting to be approved. Again, why was it abandoned?
This patent application was listed in the agreement with Gartner. If Gartner was interested, why did he allow it to be abandoned?
.
EP2414843 - DETECTION OF FIBRIN AND FIBRINOGEN DEGRADATION PRODUCTS AND ASSOCIATED METHODS OF PRODUCTION AND USE FOR THE DETECTION AND MONITORING OF CANCER [ Right-click to bookmark this link ]
Status The application is deemed to be withdrawn
Database last updated on 29.04.2014
Most recent event Tooltip 31.01.2014 Application deemed to be withdrawn published on 05.03.2014 [2014/10]
Applicant(s) For all designated states
AMDL, Inc.
2492 Walnut Avenue, Suite 100
Tustin, CA 92780-6953 / US
[2012/06]
Inventor(s) 01 / SMALL-HOWARD, Andrea
12403 Jersey Avenue
Norwalk CA 90650 / US
[2012/06]
Representative(s) Potter Clarkson LLP
The Belgrave Centre, Talbot Street
Nottingham, NG1 5GG / GB
[N/P]
Former [2013/37] Potter Clarkson LLP
The Belgrave Centre, Talbot Street, Nottingham
NG1 5GG / GB
Former [2012/06] Wright, Andrew John
Potter Clarkson LLP Park View House 58 The Ropewalk
Nottingham NG1 5DD / GB
Application number, filing date 09789550.2 30.03.2009
WO2009US38833
Priority number, date deleted
[2012/06]
Filing language EN
Procedural language EN
Publication Type : A1 Application with search report
No. : WO2010114514
Date : 07.10.2010
Language : EN
[2010/40]
Type : A1 Application with search report
No. : EP2414843
Date : 08.02.2012
Language : EN
The application has been published by WIPO in one of the EPO official languages on 07.10.2010
[2012/06]
International and Supplementary
search report(s) International search report -
published on: EP 07.10.2010
Classification International : G01N33/574, G01N33/86
[2012/06]
Designated contracting states AT , BE , BG , CH , CY , CZ , DE , DK , EE , ES , FI , FR , GB , GR , HR , HU , IE , IS , IT , LI , LT , LU , LV , MC , MK , MT , NL , NO , PL , PT , RO , SE , SI , SK , TR [2012/06]
Title German : NACHWEIS VON FIBRIN- UND FIBRINOGEN-ABBAUPRODUKTEN SOWIE DAMIT VERBUNDENE VERFAHREN ZUR HERSTELLUNG UND VERWENDUNG ZUM NACHWEIS UND ZUR ÜBERWACHUNG EINER KREBSERKRANKUNG [2012/06]
English : DETECTION OF FIBRIN AND FIBRINOGEN DEGRADATION PRODUCTS AND ASSOCIATED METHODS OF PRODUCTION AND USE FOR THE DETECTION AND MONITORING OF CANCER [2012/06]
French : DÉTECTION DE PRODUITS DE DÉGRADATION DE FIBRINE ET DE FIBRINOGÈNE, ET PROCÉDÉS CONNEXES DE PRODUCTION ET D'UTILISATION POUR LA DÉTECTION ET LA SURVEILLANCE D'UN CANCER [2012/06]
Entry into regional phase 18.10.2011 National basic fee paid
18.10.2011 Designation fee(s) paid
18.10.2011 Examination fee paid
Examination procedure 18.10.2011 Examination requested [2012/06]
18.05.2012 Amendment by applicant (claims and/or description)
10.09.2013 Despatch of a communication from the examining division (Time limit: M04)
01.10.2013 Application deemed to be withdrawn, date of legal effect [2014/10]
30.10.2013 Despatch of communication that the application is deemed to be withdrawn, reason: renewal fee not paid in time [2014/10]
Divisional application(s) The date of the Examining Division's first communication in respect of the earliest application for which a communication has been issued is 10.09.2013
Fees paid Renewal fee
30.09.2011 Renewal fee patent year 03
26.03.2012 Renewal fee patent year 04
Penalty fee
Additional fee for renewal fee
31.03.2013 05 M06 Not yet paid
Cited in International search [I] US2004033544
[Y] WO9855872
[I] Anonymous: "GenWay Biotech/AMDL-ELISA DR-70 (FDP) test" online Internet article 2007, pages 1-4, XP002556535 Retrieved from the Internet: URL:http://www.genwaybio.com/images/gw_tds/elisa_kits/40-008-355001.pdf> [retrieved on 2009-11-19]
[X] LI X. ET AL.: "Serum concentration of AMDL DR-70 for the diagnosis and prognosis of carcinoma of the tongue" BR. J. ORAL & MAXILLOFAC. SURG., vol. 43, no. 6, December 2005 (2005-12), pages 513-515, XP002556536
DOI: http://dx.doi.org/10.1016/j.bjoms.2004.11.020
[X] KERBER A. ET AL.: "The new DR-70 immunoassay detects cancer of the gastrointestinal tract: a validation study" ALIMEN. PHARMACOL. & THER., vol. 20, no. 9, 1 November 2004 (2004-11-01), pages 983-987, XP002556537
DOI: http://dx.doi.org/10.1111/j.1365-2036.2004.02212.x
[X] WU D.F. ET AL.: "Sensitivity and specificity of DR-70(TM) lung cancer immunoassay" ANALYTICAL LETTERS, vol. 32, no. 7, May 1999 (1999-05), pages 1351-1362, XP009126042
DOI: http://dx.doi.org/10.1080/00032719908542902
[X] WU D. ET AL.: "Clinical performance of the AMDL DR-70 immunoassay kit for cancer detection" J. IMMUNOASSAY, vol. 19, no. 1, February 1998 (1998-02), pages 63-72, XP009126130
[X] RUCKER P. ET AL.: "Elevated fibrinogen-fibrin degradation products (FDP) in serum of colorectal cancer patients" ANALYTICAL LETTERS, vol. 37, no. 14, November 2004 (2004-11), pages 2965-2976, XP009126041
DOI: http://dx.doi.org/10.1081/AL-200035849
[Y] MCCABE R.P. ET AL.: "A diagnostic-prognostic test for bladder cancer using a monoclonal antibody-based enzyme-linked immunoassay for detection of urinary fibrin(ogen) degradation products" CANCER RES., vol. 44, no. 12 Part 1, December 1984 (1984-12), pages 5886-5893, XP009126033
[A] BICK R.L.: "The clinical significance of fibrinogen degradation products" SEMINARS IN THROMBOSIS AND HEMOSTASIS, vol. 8, no. 4, October 1982 (1982-10), pages 302-330, XP009126076
patent application withdrawn.
https://register.epo.org/application?number=EP09789550
.
EP2414843 - DETECTION OF FIBRIN AND FIBRINOGEN DEGRADATION PRODUCTS AND ASSOCIATED METHODS OF PRODUCTION AND USE FOR THE DETECTION AND MONITORING OF CANCER [ Right-click to bookmark this link ]
Status The application is deemed to be withdrawn
Database last updated on 29.04.2014
Most recent event Tooltip 31.01.2014 Application deemed to be withdrawn published on 05.03.2014 [2014/10]
Applicant(s) For all designated states
AMDL, Inc.
2492 Walnut Avenue, Suite 100
Tustin, CA 92780-6953 / US
[2012/06]
Inventor(s) 01 / SMALL-HOWARD, Andrea
12403 Jersey Avenue
Norwalk CA 90650 / US
[2012/06]
Confirmation - Radient no longer in business.
"133425 RADIENT PHARMACEUTICALS CORP
(714)505-4460
02/22/1995 RENEWAL
2492 WALNUT AVE #100 12/31/2013
TUSTIN, CA 92780
DOUGLAS MACLELLAN $0.00
MANUFACTURER MEDICAL DIAGNOSTIC KITS"
http://tustinca.org/departments/finance/businesslicense/AllLicensedBusinesses.PDF
Radient's business license has expired and has not been renewed.
RenaldoRules stated: "Did Jaiva ever submit that CIT application, though?
In that 2010 PDF, it says:
"Jaiva plans to submit a clinical trial application to the Central Drugs Standard Control Organization (CDSCO) in India to commence
human phase II trials for RPC’s Combination Immunogene Therapy (CIT) technology as a vaccine therapy for nonsmall cell lung carcinoma (NSCLC)."
However, I do not see evidence that Jaiva or anyone else ever submitted an application. A PR saying they PLAN to do it, and evidence that they actually did it, are two different things.
2010 is a long time ago. Can you provide evidence that this clinical trial application was ever submitted, by Jaiva or Radient or NuVax or anyone else? Otherwise, I think lakeshore555 is right when he (or she) says that nobody is currently working on CIT.
Thanks!
Radient stated that Jaiva technologies planned to take CIT into clinical trials. Umesh Bhatia was the owner of Jaiva technologies but he had no money nor any funding. I do not know how Mac connected up with Bhatia but it was the heart of the India scam. No work was ever done with CIT in India but the news boosted the stock to HUGE highs. Garza jumped on the bandwagon and pumped the deals in India.
No one has since done any work with CIT anywhere. The patent is now too old for anyone to develop and make any money even if the technology did work.
Radient is a software consulting company in Romania and the SRL is Romanian for a limited liability company similar to LLC in most countries.
People love to gamble. That's why there are casinos and riverboats everywhere. It's just the same here buy a million shares for a hundred buck at .0001 and hope you can sell it for .0002.
The MJ rumor allowed some of the gamblers to make money.
There are still a few shareholders who can't understand that a FDA cleared cancer monitoring test isn't a tool doctors want to use. It was approved to monitor CRC in conjunction with CEA. That means it was only cleared if you also use the CEA test. No one wants to do that and no one wants to use the test by itself since it has so many false positives.
What is left to understand about a test that has been around for over 20 years and failed two marketing attempts.
Radient is not a candidate for any merger or reverse merger.
There are close to 5 billion shares outstanding and all are in retail hands. There are no current form 13 for large investors. The total authorized shares is 5 billion.
Radient has not paid the registration fee to the FDA to keep the currency of DR70/Onko sure. Onko Sure can no longer be sold in the USA.
The last issued patent expires on Jun 3, 2014.
Anyone can make and sell DR70 after that date and pay no royalties to Radient.
The current debt to lenders is estimated to be around $30 million. This debt would pass through to anyone attempting a merger or reverse merger with Radient.
After the last patent expires, Radient will have no licensing income whatsoever.
Radient lost a civil suit for lying about their activities and settled for $2.5 million in a class action lawsuit.
Radient has no employees and their offices were shut down.
The former employees have sued for past wages.
The CIT patent has no value and CIT was written off by Radient as having zero value per SEC filings.
Wolfie, thanks for agreeing that the debt is now over $30 million to the lenders.
Since you have "seen the light" about the low probability of any merger, the only one still in the dark is Dscpka.
Interest rate Radient is being charged for defaulted notes.
"Failure to pay the balance by April 2, 2012, will activate the late charges of 24% per annum until the redemption price is paid in full."
http://www.sec.gov/Archives/edgar/data/838879/000114420412037312/v316641_10k.htm
page 20
That's $4.8 million per year. Beginning with the defaults in 2012, the debt would now be over $30 million.
As of June 15, 2012, we had the following approximate amounts of outstanding short term indebtedness:
· Accrued interest of approximately $1,054,088;
· Approximately $46,000 in unsecured convertible notes bearing interest at 10% per annum increased to 18% per annum due to failure to pay the Notes by September 29, 2010;
· Approximately $25,000 in senior unsecured convertible promissory notes bearing interest at 18% interest, payable quarterly in cash, which became due between December 2010 and May 2011;
· Approximately $8.0 million in legal settlement promissory notes, bearing interest at 8% per annum. We are obligated to retire the Notes in monthly installments, commencing January 31, 2012, by payment in cash or (at our sole option) by delivery of shares of our common stock in an amount equal to 6.25% of the initial principal amount of each Note, plus accrued interest;
Approximately $4.8 million in outstanding November Notes
$3.4 million in Series B
$500,000 Series C convertible preferred stock which, unless converted into our common stock, matures or is subject to mandatory redemption on November 29, 2012; and
· Approximately $300,000 in unsecured convertible notes bearing interest at 4% per annum that matures on April 30, 2015.
Absent full conversion of these debts or the receipt of new financing or series of financings, our current operations do not generate sufficient cash to pay these obligations, when due. Accordingly, there can be no assurance that we will be able to pay these or other obligations which we may incur in the future.
In the event we are unable to convert into equity the balance of the outstanding November Notes, RDO Notes and the outstanding redeemable Series B and Series C Preferred Stock, the holders may obtain judgments against us and seek to enforce such judgments against our assets, in which event we will be required to cease our business activities and the equity of our stockholders will be effectively wiped out.
Wolfie, you posted information showing why the lenders could not be holding shares which was the cornerstone of your theory of a takeover.
Wolfie, thank you for finally agreeing that a merger of Radient with anyone is unlikely. The proof that the lenders do not hold any significant number of shares was the final proof needed.
Blackpanther, the page you looked at from FDA access data is a historical list of FDA cleared devices.
For a list of current FDA approved devices, you need to look at the following page. Previously, it would list DR70. Then later, it would list DR70 and state that fees were past due. Now, if you search for DR70, nothing comes up. It is off the list.
http://www.accessdata.fda.gov/scripts/cdrh/cfdocs/cfRL/rl.cfm
Without DR70 being on the above list, it is not legal to sell DR70 in the USA.
That really doesn't matter if DR70 is no longer approved for sale by the FDA because DR70/Onko Sure is not being sold in the USA. Genway has dropped the test as well as Grifolds. The only small market is in SE Asia and FDA clearance there does not matter. If GCDx got financing and did begin manufacturing and selling DR70, they would have to register the device themselves.
here is an example showing the updates are all the same.
Device Classification Name tonometer, manual21
510(k) Number K132917
Model FG-1004
Device Name OCULAR FORCE GAUGE
Original Applicant OCULAR THERAPEUTIX, INC.
36 crosby dr ste 101
bedford, MA 01730
Original Contact eric ankerud
Regulation Number 886.193022
Classification Product Code HKY23
Date Received 09/17/2013
Decision Date 12/20/2013
Decision substantially equivalent (SE)
Classification Advisory Committee Ophthalmic
Review Advisory Committee Ophthalmic
summary summary24
Type Traditional
Reviewed by Third Party No
Expedited Review No
Combination Product No
Page Last Updated: 04/21/2014
Note: If you need help accessing information in different file formats, see Instructions for Downloading Viewers and Players.
Blackpanther, the update on the page is just the last time the entire access file was updated. Every page on every device will have that date for any company.
Lake, The 2011 lenders attempted to get their shares registered via an S3 which would not involved an extensive review of Radient. An S3 was filed in early 2011. The SEC responded accepting the S3. I happened to have an email address of the corporate review section of the SEC. I immediately sent them proof that Radient did not qualify for the quicky S3. In their next filing, Radient did indeed state that the SEC had sent them notice that they did not qualify for the S3 and the S1 would have to be filed. The S1 never got approved and the lenders had to hold their warrants and notes. In the meantime, Radient began paying off the lenders with proceeds from the notes hoping their registration would get approved.
When you cheat and get caught, it hurts. I don't like crooks.
Wolf said: "..The others stated that their ownership could not go over 1.00 4.99 and 9,99 percent ownership..That means they can CONVERT up to that limit of percentage..Once they do that they can sell shares to the public..Which they have been doing..When Radient increased their outstanding. "
The above proves your lack of understanding the reason for the less than 10% ownership statement.
At the 5% level, you have to file a form 13. When you are at 10% or above, you become a beneficial owner and you have additional sales restrictions on the stock.
The lenders did not want any sales restrictions on the stock from warrants and notes they would convert. The lenders would sell short the shares and then give Radient a notice to convert warrants. The lenders never held any significant number of shares at any time.
Read the leander agreement. The method of sales is clearly spelled out. When the warrants were converted, Radient was to send the share certificated DIRECTLY TO THE SELLING BROKER.
READ IT.
dcspka stated: " all of their licensing partners like SRL and Uni tend to put their involvement on hold waiting for the developments to crystallize."
SRL was never a licensed distributor of DR70 from Radient. SRL made a deal with Guar Diagno to sell the remainder of the unused kits purchased by Bhatia that were left over from the India scam.
We don't know if SRL ran out of kits or the kits expired and were tossed out. What we do know is that DR70 is no longer listed as a product on SRL's website.
Since 2009, everything about Radient Pharmaceuticals has been a scam.
Mac lied to investors and lenders about a deal with the Mayo clinic.
Mac got Bhatia to announce a scam license of CIT.
Mac launched a scam about a government program selling onko sure in India.
Mac got caught by the Rosen law firm for scamming investors.
After the Rosen lawsuit, Mac has gotten rather quiet in the scamming process but it appears that some posters on this message board are now attempting to continue the scamming process begun by Mac. They are promoting the Jade scam. They are promoting the SRl scam. They are promoting the CIT scam. When will all the scamming of potential investors cease?
dcspka stated: "
I have not seen anything new out of SRL. to find something Current within the last 6 months is hard. "
Yes indeed, SRL closed out its stock of Onko Sure with a half price sale in 2013 because the kits expiration date and has since dropped Onko Sure from its product list. SRL got the old stock of onko sure kits from the failed venture by Bhatia in India. SRL was never a Radient distributor.
Spin-offs
The Tustin-Based AMDL Spins off AMDL Diagnostics
The new wholly-owned subsidiary will focus on the research, development, manufacture and international sales of Onko-Sure(TM)-- AMDL's proprietary, regulatory approved in vitro diagnostic (IVD) cancer test.... Read more
Wolfie, you seem to not understand the reasons behind the name change.
If you had following the stock prior to 2009, you would have noted that Radient had it's first profitable quarter. It was not from selling DR70 where sales have always been poor, it was money that arrived from sales of other products at Jade.
During a conference call by the CEO in 2008, it was announced that DR70 would be moved to a new subsidiary called AMDL diagnostics. The purpose of this move was to spin off DR70 and sell it for whatever they could get. Radient had decided to become a Chinese Pharma. DR70 was FDA cleared to monitor CRC and yet in mid 2009, not one single company was interested in licensing DR70. No one wanted to buy the subsidiary.
Well, none of that worked out. Mac took over and immediately made the Chinese angry by selling off some of their assets and the Chinese SFDA rejected the approval of DR70. Supposedly, Jade was told that once DR70 got FDA approval and SFDA approval in China, money would be coming in hand over fist. None of that happened and Jade figured out they had been scammed. Sales of DR70 floundered. Jade revolted and refused to send any more profits to AMDL.
Mac made an agreement with Jade where all the controlling shares in Jade were transferred into non voting preferred shares and Jade promised to send Radient some needed cash. Jade never sent any.
All Mac had left was DR70 which he knew was almost worthless and CIT. Mac decided to go for the hype. He changed the name of the company and renamed DR70 hoping those familiar with the past would not recognize Onko Sure as the forever failing DR70. He got Bhatia to announce CIT was going into trials in India.
Name changes do wonders. Do you remember Value Jet who put the plane in the swamp from carrying unauthorized oxygen generating canisters to save a few hazardous waste fees by sending them to Georgia? A huge number of people refused to fly Value Jet anymore. So what did the management at Value Jet do? They changed the name to Air Tran and life went on with most people none the wiser.
Mac made some money out of the name change and scammed a lot of people with lies and padded his wallet but all that time, he knew that DR70 would NEVER be successful. Mac did his job well. He got people like you and DCSpka to buy the stock. He scammed lenders while constantly inflating future sales numbers and telling lie after lie.
You have been scammed. It is just that simple.