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Mike, my best answer is for you to just read the SEC filings.
The following is factual and I suggest you go ahead and verify it.
Radient is currently in default of over $18 million in loans. The lenders have the right to convert the debt at 58% of the current share price so they can get their shares at less that anyone else can.
The sales of Onko Sure was $56,000 in the last reported quarter of 2011. That is the last financial filing Radient has made.
There are only two employees left, the CEO and CFO and they are unpaid. Radient uses three former employees as contract workers to just manufacture tests for their remaining sales.
The last reported filing stated that they had just enough refined antibody to make 200 more kits. It is unknown if they have the money to refine more antibody or if they have made less than 200 kits.
One of the two patents they have for Onko Sure has expired and the last one expires in 15 months. A Chinese company has began sales of generic kits and their sales rep stated that they did not have any conection with Radient that she was aware of.
Provista nor GCDS is not interested in buying Radient nor did they continue the licensing of DR-70 after they had received all the information on manufacturing the test.
In a recent email to an investor, MacLellan stated that production of Onko Sure has recently been increased but he did not mention any numbers for sales at all.
MacLellan is known for not telling the truth. He is in fact being sued for that reason.
Buy at your own risk but do not ever think this company will survive or have any real value. The Onko Sure product has been around for over 25 years, failed in a launch attempt in 2001 and is doing no better today. The reason it failed in 2001 was a bad reputation for false positives. Nothing has changed to decrease the number of false positives.
Mike, the last reported sales were for the 4th quarter of 2011 and that was $56,000.
That certainly was not enough sales to keep Radient in business who was burning more than a million per quarter.
MacLellan recently stated to an investor in an email that production had increased. Even if production doubled, it would never come close to covering operating expenses.
Onko Sure is just not a viable product to keep Radient in business nor an asset any company would want to buy. Chinese manufacturing costs are very low and the Chinese company manufacturing the generic test has hundreds of other products also.
The reality is that Radients patents are worth ZERO. If the patent application gets approved, it includes a monitoring aspect. A company could still manufacture and sell the test but they could not advertise it for monitoring.
There is actually very little difference between the wording in the two patents. Both cover the sandwich type ELISA testing method, dip stick and competition type.
The method the Chinese are marketing is the sandwich type ELISA so that would be covered by the first patent that has expired. There would be no reason at all for the Chinese to license the right to manufacture the test from Radient. That patent has expired.
Also, the lung cancer test to be marketed by GCDX is also an ELISA test so there would be no reason for GCDX to license anything from Radient.
Jimtash, this is where I saw the first reference to New York Blood Center.
http://appft1.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=1&f=G&l=50&co1=AND&d=PG01&s1=%22detection+fibrin%22.TTL.&s2=howard&OS=TTL/"detection+of+fibrin"+AND+howard&RS=TTL/"detection+of+fibrin"+AND+howard
The difference between this application and the other two patents is the inclusion of the monitoring aspect.
http://www.patentstorm.us/applications/20100248269.html
I did not see their name on the patent assignment website but I saw that assignment listed several years ago.
Jimtash, she is no longer affiliated with Radient. She is just defending her patent application which if issued, would be another credit to her bio. The fees have been prepaid so why not?
BTW, a quick check of the patent shows a different assignee. It looks like the patent application may have already been transferred.
"Inventor
Small-Howard, Andrea
Assignee
New York Blood Center"
Dr. Small-Howard resigned from Radient in 2011 about the time the lies MacLellan was spewing about Onko Sure and the Mayo Clinic. I don't think she wanted any part in the mess. The patent is in her name and the fees have been prepaid. I suspect she will continue the effort unless the account at the patent office is used up.
Jimtash, GenWay had a contract to market Onko Sure for all uses except for colorectal cancer. Grifols USA had the exclusive use for colorectal cancer.
The agreement with GenWay expired in 2013 and the test has recently been deleted from their website. They appear to no longer market the test.
During the patent examination process that you are looking at, the examiner commented on the published material from GenWay and denied the claims based on the GenWay material being prior art.
In her response to the patent claim rejection, Dr.Small-Howard states that the Genway material was published after the patent application.
This is nothing interesting. The Genway connection has been known since 2009 and not after the agreement was signed, their website was published in 2010, "youtestyou.com". I know GenWay started that site late 2009 and the published date on the patent application was 2010. The original application date looks to be 3/30/2009 and the deal with Genway was not signed until may 2009 so the GenWay website might not be considered prior art. It all depends upon how the examiner determines prior art.
Jimtash, you are correct. Last month, DR. Small-Howard filed a request for an extension to respond to the final rejection. She has responded to the rejected claims and asked for further prosecution.
I had anticipated that she would not continue the patent effort since she was no longer with Radient and because further prosecution requires more fees to be paid which Radient doesn't have. Apparently, an account was set up with funds previously paid to continue the effort of attain another patent.
The examination will take on an average of about a year but as it goes now, the application is still in progress.
Regardless of the effort to attain another patent, it is still a fact that others will still maintain they are manufacturing under the first expired patent and the only resolve is in the courts. Radient has no money for that.
runcoach, It is based on the application date but as you mentioned, there was a year of so in the mid 90's where the expiration was based on 17 years AFTER APPROVAL. That is the case with Radients second patent and it actually gave it a life beyond the normal 20 years from the date of application.
Think about the failed deal a little between Radient and GCDX for a moment. Why would anyone allow transfer of technology even before payment was made? This was all a ruse and MacLellan probably got some bucks under the table for doing it.
Jimtash, when a patent has expired, anyone is then free to use that technology without infringement. That is exactly what the Chinese Biotech is doing. Radient could possibly claim they are violating the second patent and sue but no USA company is going to win a lawsuit in China who would just claim they were selling the test based on the first expired patent.
Also, you can bet that GCDX would also be intending to sell their lung cancer test based on the expired patent.
Radient will get NOTHING from either of those companies.
Actually, that was a really shifty deal by Gartner to sign a license and get all the needed technology transferred to mmanufacuture the test and then back out of the deal.
OK, Jimtash, ONE LAST TIME.
A patent expires but it it NOT removed from the patent website. Patents on the website go back years and years so people who have ideas they want to patent can do research.
The first patent that radient had was filed on October 17, 1992 and it expired 20 years later on October 17, 2012. That is the standard amount of time for most patents.
BTW, it is not my accusation that the patent has expired, that was stated in an SEC filing by Radient.
As for the patent applications, two of the applications were abandoned by Radient and the last has received a FINAL REJECTION.
There are NO PATENT APPLICATIONS IN PROGRESS.
Jimtash, I posted this once before. The first patent is expired but it will still be on the patent website even though it is expired.
From the SEC filings page 45:
http://www.sec.gov/Archives/edgar/data/838879/000112178110000204/rpcs15210.htm
The U.S. Patent and Trademark Office has issued to us two patents which describe methods for measuring ring-shaped particles in extra-cellular fluid as a means for detecting cancer. Our patent for a method of detecting the tumors using ring shaped particles as a tumor marker was issued on October 17, 1995 and expires on October 17, 2012. Our patent for a method for detecting the presence of ring shaped particles as tumor markers was issued on June 3, 1997 and expires on June 3, 2014.
BioCurex update, BOCX, the lender is seizing all assets.
The phone number for BioCurex, 604 207 9150, has a message stating the lab has been shut down and to contact via email.
Jimtash, Radient only has ONE patent left that has not expired.
The first patent on a method to detect ring shaped particles expired in Oct 2012.
That first patent has gone generic.
You are posting false information when you state that this patent has not expired.
Anyone buying stock at this point is being totally foolish. This stock is worthless.
The oncopetdiagnostics.com website in shut down.
"The webpage cannot be found"
Maybe Moro is removing the phone number from the website. I will check again later.
BioCurex has closed down their office.
Moro's company, Biocurex, has shut down the facility at 7080 River Rd. When calling the former BioCurex phone number, 604 207 9150, a message states the facility has been closed and to contact them via email only to oncopet.com. Oncopet.com is a new webstie address owned by Moro himself. It looks like he is taking the onco pet product and running.
NOT TRUE. You do not have to own the patent to own a trademark.
Jimtash, do you understand the difference between a patent and a trademark?
The trademark for both DR-70 and Onko Sure are both still live.
The first patent for DR-70 EXPIRED in Oct 2012.
From the SEC filings:
"The U.S. Patent and Trademark Office has issued to us two patents which describe methods for measuring ring-shaped particles in extra-cellular fluid as a means for detecting cancer.
Our patent for a method of detecting the tumors using ring shaped particles as a tumor marker was issued on October 17, 1995 and expires on October 17, 2012.
Our patent for a method for detecting the presence of ring shaped particles as tumor markers was issued on June 3, 1997 and expires on June 3, 2014."
If someone uses the first method to detect ring shaped particles, they would not be violating ane patent.
William Gartner is attempting to sell what was the old LC Sentinel.
I called the number on the website and someone actually answered, said the test was available and would be processed by their lab. The blood draw would be done and shipped to GCDX and a doctor on their staff would discuss the results of the test.
IMO, they are not getting the test from Radient. The agreement Gartner made with MacLellan required Radient to immediately transfer all technology and material to GCDX so that the test could be manufactured in Arizona. You can be certain that GCDX got all the information and material they needed and then did not follow through with the payment.
The first patent expired for Onko Sure so GCDX is making the test just like the Chinese.
We wont know if the lenders are done selling until the day is done but my gut feeling is that the lenders can't sell any more shares. We will see.
I had guessed the share price would go up when the lenders ceased selling but we will have to see.
Jimtash, the share count is NOT going to go down. It would seem the TA is just making up numbers and probably laughing at the same time.
The lenders sold ZERO shares today and there were no unsettled trades.
If the lenders do not sell tomorrow, something indeed happened.
I thought the stock might go up a bit when the lenders ceased selling but that sure didn't happen.
Go ahead and try but it is impossible. Facts are facts and even MacLellan admitted in the conference call that it could not be used as a general screen for cancer.
Cashking, Onko Sure will never be successful as a screening tool for cancer. All you have to do is the math. Even at 95% specificity, there would be 50 false positives for each actual case of cancer discovered. That is why DR-70/Onko Sure never developed any market. Radient attempted to market it back in 2001 but it failed miserably due to false positives.
MacLellan held a conference call about Onko Sure back in June 2011 at the height of the India hype. I called in and asked a question about screening, gave him the stats right out of the government website and in response, he said, "You are correct about the false positives in a general screen. That is why we are pre-screening in India." As it turned out, half of the people pre-screening in India were selected as candidates for being given an Onko Sure test. No tests were ever administered but with 50% eliminated, the false positives would still be 25 for every actual cancer detected.
The test is just not going to be accepted in any way by the medical community.
IMO, the company data does not even support a 95% specificity because in that study, they eliminated from participation anyone with a heart condition, intestinal problems and several other conditions that would cause a high fibrin level.
Onko Sure is just not a useful test.
If you per chance do not think the lenders have been illegally selling shares, you should check the facts.
The S-1 filed in Feb 2012 was for a limited number of shares pertaining to warrants issued. To increase the number of shares, the S-1 would have to be amended and that would require current SEC filings.
Any say under rule 144 would also require current sec filings.
IMO, the lenders have been illegally selling shares.
Cashking, did you really contact someone at the SEC?
As of late, most of the selling has been from the lenders.
There would only be a few reasons why the lenders are not selling.
1. The SEC may have shut them down from illegally selling shares. You cannot sell shares under rule 144 when the stock is not current in SEC filings.
(Did someone really have the SEC look into the selling of Radient shares? If so, the SEC would certainly have noted that the hedge funds were illegally selling shares.)
2. They do not want to sell their remaining allotment of the 5 billion aurhorized at $.0001.
3. They have reached the 5 billion authorized.
One of the above three reasons is correct. Select the one you think is correct.
"Tumor Marker DR-70 For Lung Cancer (DR-70TM) ELISA Kit"
http://www.antibodies-online.com/kit/869574/Tumor+Marker+DR-70+For+Lung+Cancer+DR-70TM+ELISA/
NO, it does NOT stand for trademark.
trademarks related to Onko Sure.
http://www.globalcancerdx.com/Order.html
The above was made after GenWay got the rights to distribute Onko Sure.
Another one by GenWay.
http://tess2.uspto.gov/bin/showfield?f=doc&state=4009:451h57.3.7
Jimtash, I called the number on the website below.
http://www.globalcancerdx.com/Order.html
They are offering the test and my guess is that it is LC Sentinel. I asked how the test was administered. He stated that a blood sample would be drawn by a lab and sent to them for processing. A doctor on their staff would discuss the results.
LC Sentinel was in fact just a renamed Onko Sure test. Not sure what this one is. I asked what marker it tested for and he would not answer the question.
The Chinese BioTech is not connected with Radient.
There product name is DR-70TM. The TM does not mean trademark, it stands for (Tumor Marker).
They actually manufacture and sell 8 versions of the tumor marker test.
rat, bovine, human, and 5 others.
http://www.biotangusa.com/bt/search.php?mode=search&page=1
These are all for research purposes.
Le2dynasty, I would guess that your seller is a market maker. They do not pay fees and he probably has been buying at .0001 and selling at .0002. It is painting the tape in hopes he can buy some at .0001 tomorrow.
You cannot blame him. He is just attempting to do what all the other traders here are doing.
Blackpanther, The Chinese BioTech waited until the original patent for DR-70 expired last October so they can legally sell DR-70 without infringing on the first patent. As for the second patent, I doubt Radient will even challenge them.
You got it!
The Chinese name for their product is DR-70 Tumor Marker. That way, they are not infringing on any trademark. There is absolutely no connection with Radient and the Chinese product.
How about the Atlanta company selling the Chinese test?
http://www.antibodies-online.com/kit/869574/Tumor+Marker+DR-70+For+Lung+Cancer+DR-70TM+ELISA/
DR-70 is a registered trademark. DR-70®.
"Word MarkDR-70
Status700 - Registered"
So why aren't the Chinese selling DR-70® instead of DR-70TM?
Don't even attempt to tell us that Chinese computers cannot print a ® symbol.
If the TM stands for TradeMark, why aren't they selling DR-70™?
Don't even attempt to tell us that Chinese computers cannot print the ™ symbol.