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Hype wears thin when nothing official is heard from the company for over 6 months and the reduced volume is an indicator of investor disenchantment.
How many times has the share price gone to .0002 and back to .0001 as huge sellers unload shares. One thing is certain. There seems to be an unlimited supply of shares available.
It is only dreamers who think news is near. The last news was the canellation of a deal with GCDX. The first patent for DR-70 expired last year and a generic version is being manufactured in China. The second patent expires in a year and the patent application will take up to three years for re-examination and it has real problems with conflicts and may not even be approved.
No one wants Onko Sure. The last year of sales in 2011 was less than $300,000 and declining. Genway, the USA distributor has dropped the product from their website.
No company is going to merge with or buy Radient with such a low value product and a debt of wover $18 million.
Anyone hanging their hat on this stock for a winner is just being foolish.
Cashking stated: "Jim this influx of shares is coming from scared investors"
165 million shares were sold at $.0001 within 6 minutes between 1039 and 1045 this morning. I don't think that was scared investors and since it happened so quickly, it was not a mass panic as you stated.
Who has that number of shares to sell at one time? I think it is time to face the fact that the lenders are selling shares and not even bothering to convert notes. Why should it matter to them? They are mostly off shore funds so the laws can just be ignored. The only solution to all the sales by the lenders is for the SEC to stop the sales of the stock.
Lots of flim flam going on with GCDX who many here claim to be the savior of Radient.
GCDX has a registered address as of last month of:
2343 W. University Dr. Suite 105 Tempe, Arizona 85251
That is the same address given for another diagnostic company,
Iron Horse Diagnotics.
Aspen Technologies
A cell phone company.
And finally, the number published for GCDX, 602 908 9604, is a cell phone.
Some sort of scam is going on and they are in no way going to SAVE Radient.
Almost 38 million shares traded for .0001 late in the day. That certainly doesn't lend any credibility for a stock taking off.
Why would GCDX want to merge with RXPC when they have already transferred all the data and manufacturing technology?
They can now sell the LC Sentinel test based on the expired patent for DR-70.
Binga, the fecal occult blood test is sold over the counter without a prescription and is made by several companies with a sale price as little as $6.
http://www.otcitems.com/ProductDetails.asp?ProductCode=81129014&Click=5&gdftrk=gdfV23775_a_7c1800_a_7c7756_a_7c81129014
This test has nothing to do with Radient Pharmaceuticals.
Jimtash, if Radient allows the patent application to die, it would be the end to the hype for Onko Sure and the final death blow to the company.
Mike, I personally do care if hype is based on a lie and anyone who knows right from wrong should also care.
I will continue to post the truth about Onko Sure and any other product that is based on hype rather than the truth.
This stock is worthless. No one wants the product nor will ever buy, merge or in anyway save this company. Onko Sure just does not have the market value to be worthwhile.
Jimtash, the following is from Radient's own website.
"Our Onko-Sure™ in vitro diagnostic test enables physicians and their patients to effectively monitor and/or detect solid tumor cancers by measuring the accumulation of specific breakdown products in the blood called Fibrin and Fibrinogen Degradation Products (FDP)."
The following is from Medicine Plus website for the possible reasons why FDP's could be high. cancer is not even mentioned.
"Increased FDPs may be a sign of primary or secondary fibrinolysis (clot-dissolving activity) due to a variety of causes, including:
•Abruptio placentae
•Burns
•Congenital heart disease
•Disseminated intravascular coagulation (DIC)
•Hypoxia
•Infections
•Intrauterine fetal death
•Leukemia
•Liver disease (See: cirrhosis)
•Portacaval shunt
•Preeclampsia
•Recent blood transfusion
•Recent surgery that involved a heart and lung bypass pump
•Renal disease (See: kidney failure)
•Septicemia
•Thromboembolic states
•Transplant rejection
•Transfusion reaction"
As a test for cancer, Onko Sure has very little useful value. It is all just HYPE from Radient.
dcspka, here are the facts about shorting the stock.
To legally short a stock, the broker needs to borrow shares UNLESS the seller tells the broker he has notes that can be converted into shares.
That does not mean the seller actually converts his notes into shares, just the fact that he has notes that can be converted. Each time one of the lenders processes a note conversion with the Transfer Agent, the fee is $35. That fact is from one of Radients SEC filings.
When the broker is told that shares would be forthcoming from note conversions, they are not true shorts but unresolved trades. There is a HUGe difference between the two. The true short report is a bi-monthly report. The daily short report you mentioned not only has the true shorts but also those unresolved trades.
Under the rules, after 45 days, the broker should demand shares from the seller for the unresolved trades but if the lenders are dealing with an overseas broker, that might not happen so IMO, the lenders are probably not covering the shares they sell.
What the lenders are doing is illegal anyway, for them to legally convert notes and sell, the company is required to be current with SEC filings.
Jimtash, what someone is hyping in India matters little and listening to hype is the last thing an investor should do.
Onko Sure tests for Fibrin Degradation Products. You should read about fibrin degradation products and what they mean. They cause a positive result for Onko Sure and one of the degradation products is even used to test for heart disease, d-dimmer.
How on Earth ANYONE would think this test is difinitive for cancer is beyone belief. The only connection with cancer is that some fibrin degradation products are produced with rapid tissue growth for any reason, wounds healing, etc.
Hedgefunds certainly are involved with Radient. EVERY ONE OF THE 7 LENDERS IS A HEDGEFUND AND THEY WANT THIER MONEY BACK.
Jimtash, Onko Sure is NOT a test any doctor would rely upon to determine if you had cancer.
That is why it has NIL sales in the USA.
Jimtash, Pay HEED to the following. Cancer is not even mentioned as an abnormal result for the test. All of the below would cause a FALSE POSITIVE test for ANY of the 13 cancers Radient hypes.
What Abnormal Results Mean
Increased FDPs may be a sign of primary or secondary fibrinolysis (clot-dissolving activity) due to a variety of causes, including:
•Abruptio placentae
•Burns
•Congenital heart disease
•Disseminated intravascular coagulation (DIC)
•Hypoxia
•Infections
•Intrauterine fetal death
•Leukemia
•Liver disease (See: cirrhosis)
•Portacaval shunt
•Preeclampsia
•Recent blood transfusion
•Recent surgery that involved a heart and lung bypass pump
•Renal disease (See: kidney failure)
•Septicemia
•Thromboembolic states
•Transplant rejection
•Transfusion reaction
Fibrin degradation products (FDPs) are the substances left behind when clots dissolve in the blood. This article discusses the blood test to measure these products.
How the Test is Performed
A blood sample is needed. For information on how this is done, see: Venipuncture
The blood is sent to a laboratory. The laboratory specialist will run tests on the blood sample to measure the products that are left behind when blood clots dissolve.
How to Prepare for the Test
Your health care provider may tell you to stop taking certain drugs before the test. Drugs that may increase FDPs include barbiturates, heparin, streptokinase, and urokinase.
Do not stop taking any medicine without first talking to your doctor.
How the Test Will Feel
When the needle is inserted to draw blood, some people feel moderate pain, while others feel only a prick or stinging sensation. Afterward, there may be some throbbing.
Why the Test is Performed
This test is done to see if your clot-dissolving (fibrinolytic) system is working properly. Your doctor may order this test if you have signs of disseminated intravascular coagulation (DIC) or another clot-dissolving disorder.
Normal Results
The result is normally less than 10 micrograms per milliliter (mcg/mL).
Note: Normal value ranges may vary slightly among different laboratories. Talk to your doctor about the meaning of your specific test results.
The example above shows the common measurements for results for these tests. Some laboratories use different measurements or may test different specimens.
What Abnormal Results Mean
Increased FDPs may be a sign of primary or secondary fibrinolysis (clot-dissolving activity) due to a variety of causes, including:
•Abruptio placentae
•Burns
•Congenital heart disease
•Disseminated intravascular coagulation (DIC)
•Hypoxia
•Infections
•Intrauterine fetal death
•Leukemia
•Liver disease (See: cirrhosis)
•Portacaval shunt
•Preeclampsia
•Recent blood transfusion
•Recent surgery that involved a heart and lung bypass pump
•Renal disease (See: kidney failure)
•Septicemia
•Thromboembolic states
•Transplant rejection
•Transfusion reaction
Jimtash, how can you possibly think Onko Sure is a valuable test when you don't even know what it is?
Onko Sure tests for fibrin degradation products.
Fecal ocult bood test determines if ocult blood is present in fecal material.
Neither test is definitive for colon cancer
dcspka, I retract what I stated about MacLellan paying expenses with shares. I rechecked the rules for stock registration and Mac cannot legally register any shares for sale at all to pay expenses without the SEC filings being up to date. I don't think Mac wants to violate the law any more than he has already.
So that is NOT where the shares are coming from. Alpha and Whale are foreign based and they could very well be selling shares and not converting via the TA. I'm not sure where the other 5 lenders are based but that could be researched also.
I think the lenders are selling unregistered shares via an off shore broker.
"Off-Shore Brokers– Under regulation S, the SEC permits companies selling stock outside the U.S. to foreign investors to be exempt from registering stock. These companies will typically sell the stock at a discount to offshore brokers who, in turn, sell them back to U.S. investors for a substantial profit."
Yes, essentially thin air. IMO, the lenders are just selling shares and not converting notes. There have been trades of over 40 million shares and no one has that number who would sell in one trade but the lenders.
If the volume remains low, you can expect the lenders to hit a bunch of .0001's late in the afternoon.
Waterchaser, this has to be the lenders dumping shares but I don't understand why the TA keeps reporting no increase in shares. It has been over 45 days and millions have been sold yet little increase.
It makes one believe the lenders have made a deal with some off shore broker to ignore the 45 day limit. If that is the case, they just may ignore the 5 billion limit and keep right on selling shares as long as fools are willing to buy.
Heavyweight, as I stated, one of two things have happened.
1. The lenders have been shut down by the SEC and are no longer converting.
2. The lenders may just be selling and telling the broker they will provive the shares at a later date. If the sales are still covered by the SHO rules, at 45 days, Radient would show up on the SHO list. Radient is not on the SHO list and I was asking if there is some way around the SHO rules when a stock is trading on a trade for trade basis.
Jimtash, I am at the point where it may be true the lenders have ceased converting notes.
Several months ago, I faxed a letter to the SEC giving all the names and addresses of the 7 lenders who were illegally converting notes and and selling shares. They are not able to sell under rule 144 because the SEC filings are not current and the registraton filing made last year is also no longer current. There just is not any way they could be legally converting and selling shares.
If the SEC acted as I now begin to believe, the lenders could have been shut down selling shares. I doubt we will ever know what has really happened.
All of the unresolved trades that are showing up every day may be caused by the DTCC chill and the trade for trade between brokers needed extra time to clear.
I don't think the transfer agents are lying and what share increase there is could be MacLellan paying for services with shares.
If the SEC has not shut them down, it could be the lenders are just selling short and not covering. Does anyone know if the SHO rules cover stocks sold on a trade for trade basis?
Also, don't anyone attempt to say the lenders aren't selling. Where do you think the 42 million trade came from at the close?
The lenders only have to convert notes within the 45 day limit from the sale so checking the OS shares every few days will tell you nothing. After the share count increases, wait at least another 45 days before checking again.
It would be ablolutely STUPID for the lenders to convert more often and pay $35 each time. There are 7 lenders so converting on a daily basis would cost the combined lenders $245 each day or a total waste of 1.22 million shares. This is just a matter of common sense.
Jimtash asked: "What happened today?"
That is rather simple. Yesterday the lenders only sold about $30 worth of shares at .0003. Today, they were not fairing much better at .0003 so they just began unloading at .0002.
Attempting to sell at .0003 does no good at all if their are no buyers. Today, they were able to sell over $11,000.
It looks like the gamblers just kept their wallets in their pockets today. $39 total sales today. That has to be some kind of record for a stock.
Heavyweight stated: "They can put kits together in a hotel room."
NO, THEY CANNOT.
They are required to manufacture the test only in a facility that has been inspected and approved to manufacture medical devices.
Heavyweight stated: " A retirement of shares or buyback would be nice."
How would any company buy back shares when they don't even have enough money to pay the auditors for an annual report let alone even pay the rent. Why don't you call their landlord and ask when they were last paid any rent?
ALERT***[b] All financial filings have ceased.***ALERT 10K due today for 2012 and no filing.
This was not Asher selling today. This looks like the end of month employee selling. Obviously, Moro's son has probably been issued more shares and he dumped them.
36 million unresolved trades today.
20130328|RXPC|36470158|0|117258932|O
When you add up the unresolved trades, it totals 198,745,299 and the total volume so far is 408,891,608.
About 50% of the volume is unresolved trades and at this rate, it would be another 5 months before the lenders maxed out the authorized share limit of 5 Billion.
Remember, the lenders are having to pay the TA from their own pocket at $35 per transaction. Just to pay the $35 would require sales of 113,000 shares and with 7 lenders each paying $35, it would take 816,000 shares just to cover the conversion fee. You can see why the lenders are not converting every day. They have 45 days to convert so they wait at least close to the limit so that the fees don't sap all their profit from sales. That is why you keep getting the same number from the lender when you ask the TA way too often. Sometime in late April, the outstanding share could probably jump from 3.6 billion to 3.8 billion.
Jimtash, it is long overdue to acknowledge that Radient is just a penny stock play and not some company who is going to rise from the ashes and be successful.
The product has poor sales.
Sales in the USA have ceased.
Radient is not paying bills.
The outstanding shares marches on to the 5 billion limit.
A Chinese company is now selling generic DR-70 and will probably begin capturing the overseas market.
No financial SEC filings since 2011.
Jimtash, you still don't understand what CLIA is and what ELISA is. CLIA is NOT a test, it is just a standard for lab practices.
As for Patents, there is NO fast track for approval. Posting gibberish doesn't help.
NO Jimtash, it just means that Radient is not going to sell Onko Sure in the USA any longer.
It certainly makes sense because GenWay dropped the product from their website and an email from Grifols sated they no longer had any connection with Radient. Why waste $2,600 to maintain the approval to sell in the USA.
If Gartner was going to market Onko Sure, he would certainly need the product to be approved so that throws your wild theories out the window.
The market in the USA was about nil anyway so they probably label any shipments "for research only" and avoid maintaining the registration.
The fees vary from year to year and are based on the FDA's cost of ongoing facility inspections, etc., divided by the number of approved products. Radient's business probably would not pass a facilities inspection anyway.
If another company wanted to manufacture DR-70, they would be required to obtain a license.
Sidedraft, the search on the FDA website showed Radient as the only manufacturer of DR-70 and their license lapsed at the end of 2012.
$2650 per year. Due Oct 1, must be paid by Dec 31. There is also a license for the State of California so if they let the the FDA lapse, they probably let California go also. A request can be sent by mail to check if the Calif license is current.