Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Everyone agrees that RXPC Shares are gone forever then.
Which means that in the impossibly unlikely even that an entity (like Provista) merges with or takes over Radient, RXPC shareholders will get nothing.
Radient had 5 year goals?
What were those goals in 2009? Alienate Jade so they mutiny, borrow $$$ millions and promptly default on every loan, get delisted, increase O/S to 5 billion, stop filing with the SEC, have the share registration revoked, have all the Officers from 2009 resign, and disappear?
In that case, congratulations are in order because they accomplished all their 2009 five-year goals.
If they had other goals, then congratulations are not in order.
Why not check with Provista NOW?
Why wait for a website update? They will happily tell you they are not using DR-70 and have no plans to use DR-70.
Knowledge is power. Waiting for a website update seems silly. I prefer to actively pursue the knowledge instead of waiting for someone to drop it in my lap.
Besides, the website update won't reveal the answer to the important question: "Do Provista's tests detect fibrin/fibrinogen?" We need the BT Test study results to put that fallacy to rest once and for all.
Provista is not planning to do ANYTHING with DR-70. If that changes in the future and they decide to try using DR-70 for something, THEY CAN DO SO FOR FREE because DR-70 is off patent.
This means there is no need for Provista to merge with an insolvent voided corporation like Radient. It's absurd to think there is even a remote possibility that Provista would merge with Radient.
There is no transfer agent for RXPC shares.
RXPC shares do not exist.
USFF was the example given on this board of a ticker that had shares revoked but was getting reinstated.
See post 24767 and many others
Looks like USFF is not going to succeed. If USFF is not going to make it, what chance does RXPC have?
I left nothing out. I forgot nothing.
What I didn't do is insert a bunch of absurd nonsense like Radient having a shell and Radient shares getting reinstated some day and Provista merging with Radient.
1. Radient doesn't have a shell.
2. The Reinstatement of Radient's shares is not going to happen. Name ONE company that ever reinstated shares after a 12(j) revocation. Even USFF, which is communicating with its shareholders and actually operates as a company, probably won't reinstate their shares. Little insolvent Radient with zero assets is going to be the first? Not a chance.
Provista has ZERO interest in merging with or working with Radient. Ask them. I did. Frankly, I think that spreading that rumor on message boards is damaging to Provista and I'm surprised they tolerate that -- apparently they find it so absurd as to be laughable and of no consequence, so they allow it to continue.
Check your brokerage account. What value does it assign to your RXPC position?
Did you see the 8K this summer that said the company is insolvent and share registration was being revoked as per 12(j)?
That is ALL the data needed to come to a common sense CONCLUSION.
The Radient merger rumor-mongers have waited since March 2011 for the merger.
They continue to wait.
And we're all Yawning.
Provista has no intention of doing ANYTHING with Radient or with DR-70.
Ask them. I did. Knowledge is power.
RXPC shares do not exist. Nobody can sell them or buy them. I don't see that changing, ever. There might be 1-in-a-thousand companies that comes back from share registration revocation but RXPC is not that 1-in-a-thousand.
"Insolvent" means INSOLVENT. "Voided corporation" means VOIDED.
Do you believe that Radient has 1.34 billion shares outstanding?
It is an important fact that if you contact Mr. MacLellan about Radient he will respond with this:
"I resigned all of my management and Board positions on April 30, 2014 and have had no contact with the Company since that date."
Mr. MacLellan would not say that if it were not true. End of story.
Anyone who doubts the authenticity of this post should contact Mr. MacLellan for themselves. Knowledge is power.
Bloomberg says 1.34 billion RXPC shares outstanding.
http://www.bloomberg.com/quote/RXPC:US
Shares Outstanding (M) 1,347.94
Bloomberg lists the following contact information for Radient: a disconnected phone number, a non-existent website, and an address that has a Sheriff Asset Seizure notice on the door.
http://www.bloomberg.com/profiles/companies/RXPC:US-radient-pharmaceuticals-corp
Conclusion: Bloomberg is not a good source of information about Radient. ANY errors in a DD source makes that source unreliable.
There is no Radient merger.
"Current news which directly applies to the upcoming merger is hard to find" because no such news exists.
Is this not painfully obvious to everyone here?
Who cares whether MacLellan is President or Grand Poo-Bah or International Spokesmodel for Radient?
Radient is a voided corporation that declared itself insolvent and had its share registration revoked.
The President and Board Members and Officers of Radient are President and Board Members and Officers of a voided insolvent corporation. A Division of Radient is a Division of Nothing. A Wholly Owned Subsidiary of Radient is now Wholly Owned by Nobody.
Anyone who owned RXPC shares on the day shares were revoked now "owns" them for eternity, IMO, because all 5 billion are in the hands of retail traders and those retail traders are powerless to get the shares reinstated. Since the current Radient "Officers" have no shares they have no reason to reinstate those shares.
As for Provista taking over Radient -- I think it's very clear that Provista stopped using DR-70 when they dropped LC Sentinel from their pipeline and they have no intention of using DR-70 in the present or future. Their tests are unique to certain types of cancer and adding DR-70 to those tests would remove that uniqueness.
Think about it. If Provista added DR-70 to their breast cancer test, they could no longer say the test was "breast cancer-specific" because DR-70 is not specific to any type of cancer. There is NO WAY Provista is going to do that.
Provista is a promising company with an interesting future. Radient has no promise and no future and an undetermined amount of debt, possibly $25 million debt, possibly more - nobody even knows. Radient would be POISON for Provista.
How much are RXPC shares worth right now?
Isn't this really the bottom line? If you wanted to sell your RXPC shares on Monday, how much could you get for them?
The final desperate cheer of the bagholder in every ruined stock is "BUYOUT!" because it cannot be 100% proven wrong. RXPC is the poster child. Bagholders have been cheering "BUYOUT!" since March 2011 when it became apparent that Garza had abandoned the stock.
The cry of "BUYOUT!" became absurd when Radient revealed that the $20 million equity in Jade was really worth zero and they were defaulting on their new loans after only three months. I don't have a word to describe the "BUYOUT!" cheer today. Absurd doesn't do it justice.
"Farce" is close.
So, fine, pretend that "Insiders" own 4 billion shares of worthless RXPC stock and Provista is lying to its shareholders and GCDx is lying to the world. Pretend that Radient is secretly worth over $550 million, allowing Mac to exercise options for 11 cents a share and make a profit from it. Dress up the dolls and throw a tea party and call it a Radient Shareholder Meeting. Bottom Line: RXPC shares are worthless and this "discussion" has become a pointless waste of time.
I'll check back at the end of December when the REJECTED patent application changes to ABANDONED. I'm sure the same farcical rhetoric will be flowing on this message board. I don't understand WHY but I'm sure it will be. Until then, enjoy the next few holidays, starting tonight, when every trick-or-treater will come to the door dressed as your favorite Radient Officer or Director or IR rep.
IF we finally get transparency, not WHEN.
I don't think we will ever hear another peep about RXPC or Radient. A stock cannot get deader than this. Tickers that are revoked simply do not get reinstated.
It doesn't matter whether Provista was going to merge with Radient in 2010. They didn't. It doesn't matter whether Radient signed an agreement with the Australians in 2003 or tried to sell DR-70 in Brazil in 1995 or hyped their test in England in 1999 -- none of that resulted in significant DR-70 sales.
And it REALLY doesn't matter whether Radient called AMDL a Subsidiary or a Division or a Branch or a Department. AMDL became worthless when the last DR70 patent expired.
Fast forward to TODAY: Radient and its Divisions/Subsidiaries/Departments/etc. have no assets and the company declared Insolvency which means the debt was NOT repaid. RXPC shares are worthless and they cannot be bought or sold. What else matters?
GREAT piece of DD, guardiangel.
http://www.clpmag.com/2009/08/amdl-inc-announces-inauguration-of-new-diagnostics-subsidiary/
Notice the following from your article:
1. "Current projections for ADI indicate FY2009 sales of approximately $1 million..." Actual results: less than 3% of guidance.
2. "sales of approximately $17 million with over $13 million in earnings in FY2010." Actual results: less than 3% of guidance again, and instead of $13 million profit, they recorded an $85 million LOSS.
3. "ADI’s management believes sales of Onko-Sure test kits are likely to exceed US$100 million per year by the end of FY2014." Actual results: the company was dead in 2012 and staggered around for two more years before declaring insolvency and revoking the shares in 2014.
What happened next was historic. FY2009 results were released, they were HORRIBLE, the shorts hammered the stock, and a certain "analyst" whose initials are M.E.G. saw an opportunity for a Short Squeeze in April 2010 so he swooped in and made a fortune on this stock in April and again in December 2010. The resulting PPS spikes allowed Radient to borrow millions and attracted some Long Investors who have given new meaning to the word "Long" -- they are still holding the stock today even after shares were revoked.
Now THAT is truly what it means to be "long." As in Forever.
The only way Radient made any money was by borrowing it and not paying it back.
The "exclusive distribution agreements" to Australia and Brazil and the other dozen countries remind me of the $20 million Jade equity and the $12 million India Deal and the "Mayo Study."
What do those things all have in common?
And let's not leave out the creeping backdoor Radient merger. That belongs in this list of "Radient bullet points." And Garza's report that said Radient had a $4.50 buyout offer on the table. And the "monetization of Jade and NuVax."
Radient's insolvency means creditors can seize the assets of any DIVISION far easier than seizing the assets of a wholly owned Subsidiary.
The fact that AMDL is a Subsidiary within a Division and not merely a Division is good news for any RXPC shareholders that are hoping to see RXPC shares trade again someday.
And AMDL Australia never sold any, not in 2003, not ever.
Radient granted dozens of entities in dozens of countries the right to sell DR-70, starting in 1995. Problem is, the global medical community said "no thanks."
A corporation does not incorporate a Division. They incorporate a Subsidiary. AMDL and NuVax were both Incorporated. That alone should be enough!
We've reached a level of absurdity here, IMO, as the RXPC shareholders struggle to find a thread of hope to cling to.
I don't understand what the "Investigative Longs" have to gain by mislabeling AMDL as a Division of Radient instead of a Wholly Owned Subsidiary. AMDL no longer exists and it has no assets. The UNI Agreement terminated when the last patent expired and DR-70 is off patent. AMDL had nothing else. Who cares what AMDL was? Currently it is nothing.
AMDL is a subsidiary.
I'm surprised this is so difficult to grasp so I will try to simplify the way Radient was organized.
Radient had a Cancer Therapeutics "Division." within that division was NuVax Inc, a wholly owned subsidiary.
Radient had a Cancer Diagnostics "Division." within that division was AMDL Inc, a wholly owned subsidiary.
Radient had a "skin care division" when they still owned Jade. JPI was a wholly owned subsidiary within that division.
And today, none of them exist. End of story.
The question is: why didn't Radient file for bankruptcy? The apparent answer: when you have no assets to protect, why bother?
Radient Insolvency means the seizure of the Subsidiary Assets to pay debts. Problem is, there are no assets. The UNI agreement terminated when the last patent expired. NuVax has only CIT which we all know is worthless (even if some won't accept that fact).
Some interesting reading:
http://smallbusiness.chron.com/happens-subsidiary-company-parent-company-becomes-insolvent-25450.html
But NuVax and AMDL and Jade were all inside jokes, IMO. Calling them "subsidiaries" was just an exercise in semantics. There was no NuVax stock or AMDL stock to count as assets.
I guess the landlord could seize CIT if it could be found. Maybe it's in the file cabinet labeled "worthless junk." Better set some mousetraps though because I hear there are Humanized Mouse Models running around in that office.
It's a SUBSIDIARY.
Radient used the term "division" loosely to meet its needs. Read the 10K where they call NuVax their "Cancer Therapeutics division" on page 37 -- the same section where they declare that CIT is worthless:
https://www.sec.gov/Archives/edgar/data/838879/000114420412037312/v316641_10k.htm
In that same 10K they call NuVax a wholly-owned subsidiary. NuVax WAS the "Cancer Therapeutics division."
They called AMDL a "division" in that UNI 8K but that just means for the purpose of that 8K they wanted to identify AMDL the wholly-owned subsidiary as being in a ""Division" of the Company.
Look at all these references to AMDL as being a subsidiary -- I could find a dozen more but people choose to believe what they want to believe so I'll stop with these:
"...whose wholly-owned subsidiary AMDL Diagnostics, Inc. (ADI) announced today..."
http://www.marketwired.com/press-release/Radient-Pharmaceuticals-Announces-2010-Business-Plans-Its-AMDL-Diagnostics-Subsidiary-1181976.htm
the precious LinkedIn that the "Investigative Longs" are so fond of quoting says "AMDL Diagnostics Inc. (a Radient Pharmaceuticals Corp subsidiary)..."
https://www.linkedin.com/company/amdl-diagnostics-inc.
the Grifols thing the Longs are dredging up out of the past: "...through its wholly-owned subsidiary AMDL Diagnostics, Inc. (ADI)":
http://www.prnewswire.com/news-releases/amdl-diagnostics-inc-enters-into-exclusive-distribution-agreement-with-grifols-usa-llc-to-advance-commercialization-of-dr-70-onko-suretm-cancer-test-63753352.html
AND EVERY OTHER REFERENCE, except the 8K you're quoting.
AMDL is NOT a DIVISION of Radient.
AMDL *was* a wholly owned subsidiary of Radient, just like NuVax. If AMDL continues operations, that is bad news for RXPC shareholders, because that means nobody needs Radient to exist.
But no worries, mate, because AMDL is nonexistent today and NuVax is nonexistent today.
And there is no Radient shell. RXPC shares are revoked and worthless. The company declared itself insolvent, the Officers resigned and appointed new officers from Australia, and they ALL disappeared.
A company does not get deader than Radient. Even USFF looks like it's not going to revive its shares, and USFF at least is trying to keep their company alive and communicate with shareholders - compare to RXPC which isn't trying ANYTHING and completely shut out its shareholders.
in 2011, the Long Investors of this message board explained the path toward Radient reverse merger. OIther words they used to describe this merger were "creeping" and "backdoor."
This has been the strangest reverse creeping backdoor merger I've ever seen. And it's still going on, according to the Long Investors of this message board. Common sense dictates that RXPC shares would have to remain registered with the SEC for this to happen, but the Long Investors of this message board don't subscribe to that kind of negative thinking.
As things creep along, we can look forward to the following:
1. GCDx says they are going to release a white paper for their test (ask them, I did). That will debunk the myth that GCDx's test is anything other than a renaming of DR-70. We can remove GCDx from the story at that point.
2. Provista will probably publish their breast cancer study results soon, and that will debunk the myth that Provista's test has anything to do with Radient and/or DR-70. We can remove Provista from the story at that point.
3. The rejected DR-70 patent application will change status to ABANDONED in December 2014. We can stop listing DR-70 as an asset of Radient at that point.
Otherwise, I don't expect any news whatsoever about Radient or RXPC or AMDL. I suppose the Aussies might eventually surface somewhere on the other side of the planet but I don't see how that would help RXPC shareholders.
I think it would be GREAT if Radient filed those missing financial statements. They would explain how much debt remains, how much Radient received in revenues in 2012 and 2013, and what kind of agreements exist between Radient and other entities. But I see no chance whatsoever of that happening.
Wrong, no royalties from UNI.
The UNI Agreement terminated when the last patent expired. Read the 8K. it's spelled out in no uncertain terms.
But we all know that. This game grows tiresome. There's no intellectual pursuit in this. RXPC is dead and it's never coming back.
Metaphysics may save souls in the afterlife but it won't save Radient Pharmaceuticals. Everyone has moved on except a few "Investigative Longs" who dream up fantasies and present them as the result of "Following the Crumbs" or some such nonsense.
As for "sales in Korea gaining momentum" -- get serious, OK? DR-70 was an epic failure EVERYWHERE. At its best, revenues weren't even 10% of operating costs. Think about that. The cost of operating a little four-man operation in the suburbs of LA with no trials and no pipeline, nothing to do but sell a tumor marker test, and they couldn't generate revenues of 10% operating costs.
GCDx and UNI are going to fail selling DR-70. In five years only labs will be using DR-70 to justify how they spent their grant money.
AMDL is also gone now, correct.
All evidence points to RXPC being gone forever. UNI and GCDx both got the IP for the fibrin test. The only fuel left for the takeover/merger fantasy is wishful thinking and a metaphysical belief that RXPC will be worth something again someday because, well, see a dictionary definition of metaphysical belief.
I see no reason to discuss any of this further unless something extraordinary happens, like Radient filing some financials with the SEC or some entity announcing they are resurrecting Radient. Not a chance of those things happening, so if people want to waste their time preaching about angels flying in on gossamer wings and offering cash for RXPC shares, I say, let them. No harm in it now.
Radient-pharmaceuticals.com has several pages that are just as valid as that "blank main page." Those Aussies apparently have been busy!
check these out - they all work just like the main page:
http://www.radient-diagnostics.com/stupid-americans-there-is-no-merger/
http://www.radient-diagnostics.com/your-money-is-gone-get-over-it/
Seems like there is a secret message in there somewhere. It's sort of like playing an old Beatles album backwards! What could it mean?
Provista has no LC test and no plans for one.
http://provistadx.com/provistaDx-News-2014.html
Quoting that article without the third paragraph below is taking it out of context, which leads to misunderstanding. Read it again -- it's a brief history of the company:
"Launched in 2004 as Provista Life Sciences, the company initially positioned itself as a mezzanine developer of molecular diagnostics that aimed to acquire early stage biomarker tests, advance them to the clinical stage, and then sell them.
In this manner it developed a diagnostics pipeline covering a number of disease areas including Alzheimer's, Parkinson's, ovarian cancer, and lung cancer. It also developed its original breast cancer test, called the BT Test, that it sold in Ireland and the UK through International Health Technology.
Upon becoming CEO in 2011, Reese refocused the company on women's cancers and began the process of revamping its breast cancer program. In January 2013, Provista launched a 350-patient prospective trial for its breast cancer early detection test, now called DtectDx Breast. That trial is evaluating the test in women under 50 years of age."
Let me paraphrase.
Paragraph 1: Provista started in 2004.
Paragraph 2: Provista worked on Alzheimer's, Parkinson's, ovarian cancer, and lung cancer.
Paragraph 3: Resse took over in 2003 and refocused on women's cancers.
This is not complicated. Provista is not working on lung cancer, Alzheimer's, or Parkinson's now. They are working on women's cancers. Their pipeline on their website proves this.
No lung cancer. No Radient. No DR-70. Anyone who doubts this needs to contact Provista and clear up their misconception.
There is nothing going on IMO.
A creeping merger does not take 3.5 years and an entity trying to orchestrate a creeping merger does NOT let the share registration get revoked.
UNI is happily selling the test without any involvement WITH or payments TO Radient, and if SRL wants more tests they can buy them from UNI.
GCDx is happily trying to sell the test in the USA without any involvement WITH or payments TO Radient.
The new Officers and Directors of Radient disappeared immediately after taking over.
RXPC shares are worthless and will always be worthless. But as long as the human mind can dream, there will be a discussion about a White Knight riding in on a Lipizzaner and saving RXPC shareholders.
Radient Diagnostics site has many pages up.
if http://www.radient-diagnostics.com is proof that "something is up" then these are also proof -- click on them to see what I mean.
For example, the Aussies apparently realize that Radient is a zombie:
http://www.radient-diagnostics.com/zombie/
And they seem to be acknowledging that RXPC shares will never trade again:
http://www.radient-diagnostics.com/RXPCwillnevertradeagain/
and they apparently are not supporting the merger theory:
www.radient-diagnostics.com/nomercynomerger/
Who cares what WG does? It does not affect RXPC in any way.
Provista has no plans for Radient and/or DR-70.
The only "gaps" are the missing pieces of evidence that any entity is merging with or taking over Radient.
Here's what's NOT missing: Facts. RXPC shares are revoked and worthless, the company declared insolvency and then the Corporation status became Void, the only marketable product went off patent, new Directors and Officers were appointed suddenly at the last minute and they promptly disappeared, and at least two entities that we know of -- GCDx and UNI -- are manufacturing and selling DR-70 off patent without paying Radient a dime.
Facts. Not wishful thinking that some white knight is going to ride in and offer RXPC shareholders money for their worthless shares.
Provista news releases regarding Radient are all from 2011 or earlier and are meaningless today.
Provista and Radient both have different CEO's now. Provista's new CEO bailed on the Radient merger and abandoned the Lung Cancer test to focus on "women's cancers."
"Positive Radient Scenarios" from ANY source have been fiction since Jade mutinied.
That LC reference was before 2011.
That PR has to be read in context:
"Launched in 2004 as Provista Life Sciences, the company initially positioned itself as a mezzanine developer of molecular diagnostics that aimed to acquire early stage biomarker tests, advance them to the clinical stage, and then sell them.
In this manner it developed a diagnostics pipeline covering a number of disease areas including Alzheimer's, Parkinson's, ovarian cancer, and lung cancer. It also developed its original breast cancer test, called the BT Test, that it sold in Ireland and the UK through International Health Technology.
Upon becoming CEO in 2011, Reese refocused the company on women's cancers..."
Reese abandoned the lung cancer test. Provista has no plans for LC or for Radient.
WG is doing exactly what he said he was going to do at AZBio.
He is trying to sell DR-70 on the internet as a lung cancer test.
WG said he had no personal or business relationship with Radient. That is proven now.
please post a link to the page on PDx website where it says they have a lung cancer test or are planning one someday.
Thanks!
Provista has no "Current Need for DR-70" and they do not have a lung cancer test.
Ask Provista. I did. Provista has nothing to do with RXPC.
When Provista releases the results of their breast cancer testing, this will be irrefutable. It's irrefutable NOW to those who have done the DD.
Knowledge is power.
RXPC is dead.
The text on that GCDX Order page changed to
"The Lung Cancer Testâ„¢ is available."
That TM is a lie - the trademark was abandoned. But more important: the PR said "All required Clinical Validation studies are complete with excellent results." Says who? Who would believe that without seeing the study details and the results? I question whether there even WAS a Validation Study.
Hopefully the FDA will make GCDx publish this "Validation Study" and explain how the results were "excellent."
The only thing we know for certain is: Radient is not involved, and RXPC shareholders will not benefit from anything GCDx does.
The two loudest cheers of the Radient Takeover Theorists were "it's all about the patent" and "Gartner the Leader is a biotech genius." Those cheers have fallen silent now that the patent is dead and Gartner is obviously on his own. So is anyone still cheering? If so, please explain what there is to cheer about.
What's left for Takeover Fantasy? Does it now rely solely on Provista using Radient's DR-70 in their tests? That misconception should be debunked soon when Provista releases their results and there is no mention of fibrin or fibrinogen.
As for CIT... I think Radient said it best when they said in the final 10K that CIT was worth nothing. I trust their judgement on that.