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Peggy, Radient cannot pay a bankruptcy lawyer in shares because the lenders will have used all of the 5 billion authorized.
IMO, the only reason the stock is sometimes selling at .0002 is that the lenders are nearing the 5 billion mark and have reduced their selling.
The next question is whether the lenders will sue for any assets.
Provista definitely has dropped LC Setinel from their website so no possible connection now with Provista.
Onco Sure sales are nil in the USA according to financial reports made in 2011 (their last current filings). No financial filings at all were made for fiscal year 2011.
email response from Provista - NOT using DR-70
by lakeshore555
I asked Provista Dx in an email whether DR-70 was used in any of their cancer tests.
The response, sent within an hour:
"For the umpteenth time, we do not use DR-70 on our diagnostics in any way."
Jimtash stated: "There's a post on this board mentioning one exec buying while the rest are selling. Who can elaborate? "
ALL of the BOD members have resigned except MacLellan's long time friend Boswell.
All of the management is gone except the CEO and CFO and they are unpaid.
All of the employees have been laid off.
No one is buying stock except speculators gambling that the stock might increase in value.
Charlie, the company cannot sell shares on the open market. There is no registration statement to effect that ability.
The lenders who have been owed money for 2 years have been converting their notes under rule 144 and selling. It is not legal for them to do so without current SEC filings but they are just ignoring that law.
As for what I think is happening, IMO, the lenders have converted almost all of the 5 billion authorized share limit so the reduced sales by the lenders has allowed some sales at .0002. Radient has no money and is not going to be able to raise any more money so the company is just economically dead. The assets of the company aren't really worth much but the lenders may in fact attempt to take what assets there are. Radient has no money to pay for lawyers so they may not even file bankruptcy.
I also doubt that MacLellan will file any more 8k's either and certainly no financial reports.
This is now just a game of speculation and buyers gambling on .0001 shares.
LC Sentinel has been dropped from Provista's website. Dropping the product is probably the reason why Radient's deal with Provista was voided.
http://www.provistadx.com/
Konshe, the last report for shares outstanding:
"As of October 3, 2012, we had 3,235,210,154 shares of common stock issued and outstanding."
In seven months from Feb to Oct, the lenders converted and sold 3.2 BILLION shares. The lenders have continued to sell for the past 4 months and the number of outstanding shares is at or near the 5 BILLION aurthorized limit. The reduction in sales by the lenders is the reason why the stock sometimes sells for $.0002.
When will the lenders sue to get any remaining assets?
A reverse split would require another shareholder meeting and Radient has no money to hold a shareholder meeting.
Don't know but if Smithline can get money from BioCurex or Moro, he will. IMO, his best bet would be to force Moro to pay back the $1.5 million he has overcharged BioCurex. He would have to balance his legal costs with what he could expect in return.
IMO, the shareholders of BioCurex should contact a lawyer about a class action lawsuit against Moro.
Konshe incorrectly stated: "Very good SS, 29mm O/S. Employee 13, has good patent medical product."
That is absolutely FALSE. They only have two employees left, the CEO and CFO and they are both unpaid. Radient has two contract part time former employees who assemble kits with the remaining purified antibody.
Onko Sure is NOT a good medical product. Sales have been declining since 2009 and the sales in the USA are NIL. The patent expires soon and the patent application has received a FINAL REJECTION notice.
Radient has no money to make SEC required financial reports. Their only revenue is selling kits of Onko Sure and the last SEC filing stated that only a limited amount of processed antibody was remaining to manufacture kits.
RXPC OTC classification at lowest tier "NO INFORMATION".
This is the lowest tier of pink sheet stocks. There have been no SEC financial reporting at all for fiscal year 2012. The lenders have been converting notes to sell shares and the number of outstanding shares is nearing the 5 Billion authorized limit.
Waterchaser, the lenders are converting and selling shares under rule 144 and according to the rule, to be able to register and sell shares under rule 144, there must be current SEC required financial information available on the stock.
The lenders are therefore illegally selling shares. That is why the lenders loanded Radient $150,000 in 2012 to make SEC filings. They are now ingoring the rule.
Any investor owning shares should contact the SEC and report the lenders.
Application Number:
12/414,518
Customer Number:
-
Filing or 371 (c) Date:
03-30-2009
Status:
Final Rejection Mailed
Application Type:
Utility
Status Date:
08-15-2012
Examiner Name:
DENT, ALANA HARRIS
Location:
ELECTRONIC
Group Art Unit:
1643
Location Date:
-
Confirmation Number:
1078
Earliest Publication No:
US 2010-0248269 A1
Attorney Docket Number:
1958416-00017
Earliest Publication Date:
09-30-2010
Class / Subclass:
435/007.920
Patent Number:
-
First Named Inventor:
Andrea Small-Howard , Norwalk, CA (US)
TopPenny, you are definitely wrong about the patent applications.
When you look them up on the USPT website, one of them is abandoned and the other has received a "final rejection".
Radient has NO patent applications in progress.
Peggy, you were right in calling it a scam. The entire India deal was a scam. There was NEVER any government program to sell Onko Sure and Mac clearly led investors to believe there was a government program. Yes, that was a scam.
Moro has defaulted on the loan to Smithline. Penalties will be added and Smithline will have to decide what his next step will be.
TopPenny, CEA is totally worthless for use in detecting stage I and II colon cancers. The question you should be asking is how poor can a test be to improve upon a test that is worthless for early stages?
Radient launced Onko Sure as a test in 2000. It failed miserably. By 2002, all of the distributors has folded up shop on the test.
Radient then attempted to launch the test again in 2009. Again, lots of hype and then sales fold.
It is the same story over again. NO ONE is going to buy Radient for Onko Sure.
Top penny, you are talking about a screening tool. Onko Sure is NOT anywhere close to being capable of screening for colon cancer.
You know nothing about what you are saying. Onko Sure has been around since 1985 and gone nowhere. That is 28 years. During those 28 years, part of Onko Sure has been commercialized as a test for heart problems, D-dimmer. Now, does that surprise you that Onko Sure would test positive is someone has a heart problem and not cancer?
The problems with Onko Sure is that you do not know WHAT is giving the positive result. TONS of falses with this product.
0.0001Ask
0.0002B/A Size
3144400x121470800
You now have a bid and ask. It is definitely moving up and I do think the 5 billion authorization is very close.
Black, Onko Sure is NOT a screening tool. It's only posible use would be monitoring and for CRC, it does not perform as well as current methods. All the hype comparing it to CEA put out by Radient in their attempt to sell the product were just not realistic. The number of falses in early detection during monitoring would be just huge making that aspect worthless.
Sorry but the facts just show the product is worthless.
Black, it just depends upon if and when the 5 billion authorization is reached. It is just my opinion, but I think this stock is going to move up.
IMO, it just totally amazes me that a stock who basically has a worthless product, hasn't made a current financial filing in 2012 and no plans to do so, has been relegated to the lowest of the low stock rating is still trading and potentially moving up.
Totally hard to fathom.
Black panther, I mentioned a couple weeks ago that the 5 billion limit for share authorizaton may happen in the next few weeks.
This is one scenario that I could see happening. There are 6 lenders selling shares and they all know the 5 billion limit is approaching. Yesterday there was only 900,000 in unresolved trades so that is a small amount compared to the figures a few months ago. At this point, the lenders all know that regardless of the number of shares they convert, at this point, none of them would be over the 10% ownership limits that would restrict sales.
My guess is that several of the lenders have converted a large number of shares so they could continue to sell shares after the 5 billion authorization has been reached. They also know that when the shares for sale are limited, the price will go up depending upon the number of speculators willing to by above the .0001.
There seems to be plenty of people who are willing to gamble on a totally worthless stock so it will be interesting to see how high this will go. It just depends upon how many speculators are willing to give up cash and how many of the lenders still have shares to sell.
Top Penny, the following URL is for a US distributor of Onko Sure.
It has not been updated since 2011 and the last financial information from Radient indicated the sales of Onko Sure in the US was almost nil.
http://legacy.thefirstmark.com/yty.php?fid=3004
SEC filings made in 2012 indicated that Radient only had material remaining to manufacture about 125 kits. If sales had even continued at the same rate as for sales in 2011, they would have been out of antibody for kit manufacture by September 2012.
Top Penny, Onko Sure is a product that very few people are interested. It was first launched as DR-70 in 2001 and by 2002, all of the distributors dropped the product. Radient then attempted to get it FDA cleared.
The FDA gave them market clearance in July 2008 and Mac ended up giving away distributorships because no one would license the test. Here the company is almost 5 years later and sales continued to drop. That is NOT a product that anyone wants.
I_Invest, Wittenberg was a known crook from day one. The initial setup of BioCurex was to benefit 85 un-named investors who made out like bandits when the stock was pumped to $5 in 2002.
My wife bought some of the stock in 2005 for around a dollar and that is the first time I ever looked at the company. When Abbott took way too long to even publically say anthing about RECAF, I began posting that I anticipated a product return and that Wittenberg was a crook. His status as a crook was confirmed by another investor who had made a private placement and was invited by Wittenberg to participate in his stock scams.
What finally got me to invest is when Stephen Frost presented RECAF at the ISOBM in 2007. I bought stock thinking Abbott was actually going to use the product.
Later, I found out that Abbott ceased any effort to commercialize the product within a year and pullled everyone off of the project and gave them other assignments. Moro obviously had some influence on Stephen Frost who undoubtedly did the scam agreement in March 2008 to not do any more work on RECAF in exchange for not having to pay past due royalties nor future royalties.
From that point on, this stock was totally dead but Moro kept sucking in others to make investments. He continued to hype the license with Abbott and Inverness even though they had dumped the product. He continued to hype China when there was absolutely NOTHING there. I contacted the company in Shanghai where Moro's former employee was working. They had no idea what I was even talking about when I asked about RECAF. That was all a scam.
It is also difficult to understand how someone like Paulson could have been tricked into the secondary placement for a company with a worthless product. There had to be just a never ending stream of lies told by Moro.
Yes, I feel sorry for those investors who got sucked in by Moro and his hype but I am proud of the fact that I did get information to a few investors who were willing to listen to the facts about Moro and RECAF.
I was slammed by many on this forum who were just not willing to consider the fact that Moro was a crook. The facts now exist that he has been overcharging BioCurex for services and has personally pocketed over $1.5 million in SR&ED money confirming his status as a crook. Yes, he needs to answer for his crimes.
Anyone want to make any bets about Moro filings a 10K for 2012? I don't think he will pay the auditor fees and will let BioCurex lapse into non filing status.
Anyone who is buying this stock right now just doesn't have any idea what is going on.
I got an email from a former investor today that was interesting. He had spoken to Moro a couple years ago and asked about the negative sentiment on this board, particularly about me. Moro told him that I had wanted to make a placement and was denied. That was all total bull. I never ever attempted to make any placement with Moro.
That is just one more example of the lies Moro has told.
Asher was selling shares again at 2.5 cents. Asher is pretty careful not to crash the share price. What really drives it down is Moro paying for services and employees selling. I expect this to go all the way back down to .0003 again within a couple of months.
I don't think the SEC cares unless the criminal is high profile and that leaves the penny stock world full of crooks.
A lot of investors here were fooled by Moro including myself but several years ago, I realized that what he was saying about RECAF was all lies.
The sad part is that he has been able to rip off investors and personally pocket over $1.5 million above his other compensations.
It is well past the default date for the Centercourt loan and Moro has not filed an 8K material event. Moro is just ignoring the SEC laws.
I would soon also expect the resignations of Burger and Slowey. You can be sure they do not want to be caught in the tangled web of Moro's misdeeds.
This is the lowest tier of the OTC securities.
I see 72 million on the ask at .0001 this morning and no bid. Nothing has changed with the stock in months and nothing is expected.
Sales of Onko Sure have been dropping ever since 2009 and during that period, they supposedly had some sort of marketing effort.
now, there is no marketing at all.
Radient's patent status.
The first issued patent expired last October.
The second issued patent will expire in June next year. The life left on the patent is 17 months.
The patent application filed last year has received a FINAL REJECTION. There are no more patent applications.
"
Application Number:
12/414,518
Customer Number:
-
Filing or 371 (c) Date:
03-30-2009
Status:
Final Rejection Mailed
Application Type:
Utility
Status Date:
08-15-2012
Examiner Name:
DENT, ALANA HARRIS
Location:
ELECTRONIC
Group Art Unit:
1643
Location Date:
-
Confirmation Number:
1078
Earliest Publication No:
US 2010-0248269 A1
Attorney Docket Number:
1958416-00017
Earliest Publication Date:
09-30-2010
Class / Subclass:
435/007.920
Patent Number:
-
First Named Inventor:
Andrea Small-Howard , Norwalk, CA (US)
Issue Date of Patent:
-
Last trade was at for 2 million shares at zero.
$0.0000
2,000,000
OTO
11:34:11
Gladys Chan resigned as the Company's Principal Financial and Accounting Officer.
Why did GDX sign an aggrement with Radient?
If you look at what has happened, it should be rather clear.
Radient is going to go out of business. That is a foregone conclusion. Also Onko Sure is going off patent so anyone would be able to manufacture kits and sell them, Provista or anyone else regardless of any licensings signed.
So What did GDX get?
They ended up paying Radient a few thousand dollars and all of the technology for the production of Onko Sure was transferred to GDX. Why GDX and not Provista? GDX is a private corporation with no money so if there was some future court action where the lenders thought GDX got some of their assets, any lawsuit would go absolutely nowhere.
Provista now essentially has everything they need to manufacture and sell LC Sentinel. Whether they will do it or not will is anyones guess.
One of the first trades of 4 million shares this morning was at ZERO.
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09:43:37
Three trades today showing a price of ZERO and totaled more than 11 million shares.
$0.0000
100,000
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14:53:41
$0.0000
10,900,499
OTO
12:38:48
$0.0000
10,856
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12:38:48