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Radient is never going to move "up" to the OTCQB so none of that applies to this stock. For one thing, Radient isn't going to get current with their SEC financial filings. The company doesn't even have a CFO.
And is your article saying that if Radient doesn't pay a $10,000 annual fee, they will get dropped off the pinksheets? Wonder when THAT deadline is. Because I would be surprised if the CEO pays that $10,000. Since he has no more shares in the A/S to issue, I doubt he cares whether RXPC is listed anywhere, and he appears to have moved on to other ventures.
Really? Why?
Because the volume suddenly went crazy? That was an MJ rumor spread on Twitter. Looks like that flame sputtered and went out.
problem is, they have no money, no employees, and no building. All the officers except the CEO resigned.
So I doubt they will branch out into anything.
This will see .0001 shortly, IMO.
and it's never going to see .001, not next week, not next month, not ever, IMO.
I think there's a limited number of "investors" who have a risk tolerance high enough to chase this kind of toxic stock on just a Twitter rumor, and most of them have either been here and gone or are still here, scratching their heads, looking around and wondering why the volume isn't 300 million EVERY day.
That was fun, watching the feeding frenzy that rode in on the MJ rumor, but have you noticed that the guys who promised to verify that the company is ACTIVE and located in Tustin are conspicuously absent? And the guys who thought they could email IR or the CEO and report back are also conspicuously absent?
The class action won't matter -- no matter how that goes, the PPS is going to be stuck at .0001 until somebody dreams up a new rumor. The merger rumor and the MJ rumor are worn a bit thin -- maybe an Ebola cure? HIV vaccine?
I'm not parsing your words. I am quoting you directly, sentence by sentence.
Please defend your statements instead of trying to divert attention.
Too advanced? It's a blood test. The 70 in DR-70 stands for 1970, the year of its creation.
If anything, it is not advanced enough, since it does not tell you where in the body the cancer might be, and fibrinogen is produced for reasons other than cancer.
If this test was valuable, the global medical community would use it.
The streets of biotech are littered with the carcasses of products that received patent approval and FDA clearance but were rejected by the market.
What patent? the patent filed in 2009, rejected in 2012, re-submitted as an RCE in 2013?
That's perfect timing? the active patent expires in about two months and the RCE could take years. The timing seems less than perfect to me.
"quietly paving the way behind-the-scenes?"
Meaning, conjecture with no proof. Just like the MJ rumor and the Takeover rumor.
"SRL,Inc & Uni-Pharma have licensing agreements with RXPC?"
SRL has no licensing agreement with Radient. Guar Diagno HAD a licensing agreement and bought some DR-70 test kits, but then sold those to SRL, and SRL sold the tests for half price for awhile in 2013, and has since stopped selling the test.
Besides, if Howard-Small is trying to promote DR-70 in Asia, UNI would manufacture and sell it. Radient would not profit in any way from this venture.
Furthermore, while UNI-Pharma has a license agreement to pay Radient $100,000 per year, that agreement terminates when Radient's patent expires on June 3, 2014.
All easily verifiable in the SEC filings.
Yes, interesting contradiction: if shares have been transferred away from "Retail Hands" in the past 18 months, who has been selling this past week, and why do so many shares keep appearing on the Ask under 0.0005?
I believe something entirely different. I believe that the absence of Schedule 13's means the entire O/S has been in retail hands for at LEAST the past 18 months.
I agree with you, runncoach, that there is no clear avenue of payment for the settlement. When Rosen filed the class action in 2011, Radient looked like a company that could pay. Radient was claiming shareholder equity in the form of $20 million value in their Jade holdings, and they were predicting $10 million revenues in 2011 from India. Unfortunately, the SEC asked them to prove Jade was worth $20 million, and Radient chose to value Jade at $0 instead. Suddenly, Radient had a shareholder deficit instead of shareholder equity. Radient was delisted from the AMEX. Then the $10 million India revenues proved to be false.
All easily verifiable in the SEC filings.
So, when a company dissolves like that, what does the plaintiff do? Continue to persecute the class action, knowing that there might be no money for an award regardless of the outcome?
DOES Radient have insurance to cover the $2.5 million settlement? They have 15 business days after April 22 to put the money into escrow. What will Rosen do if that money isn't palced in escrow?
I wish Radient would inform the public and its shareholders about the current financial and business condition. We want to know (a) what is the current debt, (b) does insurance cover the $2.5M settlement, (c) why did Radient let the FDA clearance lapse, (d) why did they let the European patent application expire, and (e) where is the company located now -- are they still in California?
Please post some proof of these statements.
"RXPC thru its Onko Sure/CIT properties has numerous active/ temporarily dormant licensing agreements?" Give proof of just ONE other than UNI.
SRL Inc was selling the blood test for half price -- they stopped selling the test months ago. UNI-pharma has a $100,000 annual license agreement that will terminate on June 3, 2014 when Radient's patent terminates. GCDx has been trying to get funding since 2012 but has failed to date and has no license with Radient and no evidence that they ever will. PDX hasn't had any kind of agreement with Radient for many years, and if you contact them, they will confirm that they have no plans to resume relations with Radient.
"The key to future development is what makeup the Takeover Group will end up taking?" There is no Takeover Group. The takeover/rumor merger is weaker than the MJ rumor.
"The majority of the stock transferred over the last 1 1/2 years has been away from retail hands?" Then who sold so much stock in the past week? There was an inexhaustible supply under 0.0005. Are you saying the Takeover Group has been selling the past week? Please explain.
"The recent trial involving The Plaintiffs vs RXPC regarding the actual degree of partnership/ participation of the Mayo Clinic with Our Company is a frivolous lawsuit?" I don't think it is frivolous. But let people decide for themselves -- let's give them the facts:
http://securities.stanford.edu/filings-documents/1046/RPC00_01/2013517_r01o_11CV00406.pdf
"which RXPC chose to pay thru insurance?" How do you know that? Where is your evidence? There is no money in escrow yet. Radient has paid nothing.
" a sign of the times, everyone settles out of court nowadays?" Disagree. I think an innocent defendant doesn't settle for $2.5 million. $250,000 maybe, but not $2.5 million.
" things promise to heat up A LOT over the next month?" I see no evidence of that whatsoever. Please provide some.
The company is not a scam.
The MJ rumor and the merger rumor are scams, yes, but the company never pretended to be anything it is not.
At least, not recently. True, in 2011, they pretended they had $20 million shareholder equity in their Jade holdings, but the SEC made them take that off the books. I guess they also pretended to be collaborating with the Mayo Clinic in 2011 when they in fact only bought test samples from Mayo. I say "guess" because before that went to a jury trial, the company settled the class action for $2.5 million.
Otherwise, they were legit. They got a device cleared by the FDA and tried to sell it. Unfortunately, the streets of biotech are littered with the carcasses of companies that finally got a drug or device to market only to find there WAS no market for their drug or device.
Still hungry for those .0003 shares?
soup's on!
Have you verified the location of the corporate office yet?
They're not running to the feeding trough either.
Evidence of reverse merger?
None. It's a weaker rumor than the MJ rumor.
They failed. What is complex about that? There's nothing "complex" about Radient's last three years. They defaulted on EVERY loan, admitted to the SEC that their $20 million shareholder equity in Jade was actually worth zero, got delisted, increased the A/S to 5 BILLION, issued at least 4.5 billion of that to try and repay a fraction of the debt, did a 25:1 reverse split....
And then they stopped reporting financials.
The Onko-Sure patent expires in June. CIT was written off as worthless by the company when they filed their 2011 10-K. NuVax collapsed when they stopped paying Bhatia and Chang and those two left.
All officers except the CEO resigned. Then one new officer joined the shell -- an old friend of the CEO's.
Radient licensed all intellectual property and manufacturing process to UNI last year for $100,000 per year. Problem is, when the patent expires in June, UNI can terminate the agreement and manufacture/sell onko-sure without paying Radient anything.
Refute ANY of that. Please.
Sorry, Paul Knopick quit a long time ago because he wasn't getting paid by Radient.
Call him and ask him.
Let's ask the guy who said he was going to visit the office yesterday and verify its existence.
And the guy who claimed he left a message on the corporate phone and is waiting for an answer.
And that will beg the question: if a rumor can't be proven true or false because the company is a ghost, does the stock fit into your risk tolerance?
I think there is another billion shares available under 0.0005 -- probably more. Especially if the rally is waning.
Friendly bet -- I say it returns to 0.0001 by Friday and stagnates there until there is real news. And since the MJ rumor and merger rumor are unsubstantiated at BEST and the patent is an RCE stuck in queue at the USPTO, I can't imagine what that news will be.
I doubt they'll publicly draw attention to the payment of the $2.5 class action settlement in April or the expiration of the patent in June. Maybe they will file an 8-K for the CA. If they do, it would be nice if they update the debt amount and the O/S.
Really? Why?
Do you believe the MJ rumor?
Do you think the USPTO is going to look at the RCE patent application this year?
Do you know the A/S is at 5 billion and the O/S is somewhere between 4.5 and 5 billion?
Do you know the company does not have a physical address -- no bricks-and-mortar office and no FDA-approved manufacturing facility?
Do you know they don't have an IR department any more and don't answer their phone?
Can anyone prevent it from closing at 0.0001 on Friday? I doubt it.
It's just a rumor spread on Twitter.
Show the link.
How many shares? As of what date?
I cannot believe any fund, institution, or other reporting entity of ANY kind would invest in a "Stop Sign" pinksheet stock.
Where do you think all these shares are coming from? Doesn't it strike you as odd that 700 million shares have been traded in the past few days, and the PPS is stuck under 0.0005?
I guess the current LONGS don't think there's much truth in the rumors.
The lack of Schedule 13's tells me that there haven't been any insiders, institutions, hedge funds, or other reporting entities holding RXPC since May 2012 -- and even then, it was lenders who had to file a Schedule 13 because they were paid in shares.
Based on the way the rally died in the afternoon today, I'm predicting a fire sale tomorrow. I am interested to see how long our new "MJ Players" hold this stock when they realize their leaders have left the building.
The current shareholders have been saying "an announcement is coming soon" for over two years. At some point, this sort of optimism has to be treated with skepticism.
The only news that might come is a PR from the Rosen law firm after April 22nd when the $2.5 million settlement is in escrow, and possibly an 8-K from Radient to that effect. Otherwise, there is NO reason to believe that this company has any future business plans and certainly there will be no financial reassurance.
At least 4.5 billion outstanding shares, the last time the TA disclosed the number. The A/S is 5 billion.
There's probably 5 billion O/S but we have no evidence of that since the company does not disclose anything. The TA has stopped providing this information.
on the contrary - the previous shareholders who have been grumbling about 0.0001 for the past 12 months think it's going VERY well.
Accordign to the merger rumor, 90% of all shares are locked up in "strong hands."
So who is selling then?
This will be fascinating to watch when everyone realizes the MJ rumor is false.
Musical chairs!
1. Company debt last reported as $15 million in January 2012, and none of that debt repaid as far as anyone knows. Company hasn't filed financials suince 4th Qtr 2011 when they said they could not continue operations because they had no money.
2. Outcome of lawsuit: $2.5 million settlement agreed to by both sides, they convene in court on April 22nd, no money in escrow yet.
3. Absolutely no truth in that rumor.
That all said - -notice how many people are willing to buy this stock. In the penny biotech world, hype is worth more than the facts. Invest according to your risk tolerance.
No stock is dead if people are willing to buy it. Certainly, last week, there was a lot of buying interest.
It's the company that I think is dead, not the stock.
I think you should stop attacking me personally and start attacking my assertions. I say the company is not located in Tustin, or anywhere, for that matter. If you think differently -- what is the company address?
I say the company is deep in debt. About $20 million, maybe more. I'm basing that on the fact that the last time they reported debt it was $14 million, that was two years ago, and they said the penalty and default interest on at least some of the bad loans is accruing at 24%.
I say the patent for their one marketable product, DR-70, expires in about two months and the only current patent application was rejected in 2012 and resubmitted in 2013 as an RCE -- and the USPTO is notoriously backlogged on RCE's. I've posted proof of this many times -- look back at my posts and you'll find the links. You disagree? Why?
I say it's absurd that this company would enter the MJ sector under this ticker symbol -- if MacLellan wanted to do that, he'd buy a new debt-free shell and start fresh. You think RXPC is really going to enter the MJ sector? Why? Because of some Twitter rumors?
I think we all know that there is possibly money to be made on RXPC and all the other pinksheet shells being hyped as "weed plays."
Will RXPC go higher next week? possibly. Will more traders come tumbling in here, out of breath, gasping "I'm in! weed play! gonna get rich!"? Yes they will.
But the one truth about pyramid schemes is: someone always gets left holding the bag. Timing is everything. Hats off, I guess, the the people who bought at .0001, started the rumor, and sold at .0003. Gotta admire a triple, even if it came about through, er, questionable means. If people want to throw their money away, SOMEONE has to catch it.
I think the person who posted the fake email from "Eileen in Radiant IR" should be fined by the SEC.
Of course, the SEC couldn't care less about a pinksheet zombie like this. Imagine what the SEC thinks when they try to contact Radient and discover there is no office and no active contact number or email. They don't drive to Tustin and ask questions -- they just shake their heads and wonder how anyone could fall for these rumors.
yes, Peggy was wrong about Radient being "Limited Information."
It's changed to "No Information."
http://www.otcmarkets.com/stock/RXPC/quote
All they need to do to change it back to "Limited Information" is file an 8-K for something... ANYTHING.... the class action settlement, for example. Think they will do that? I'd like to know where they will find $2.5 million to place into escrow. I don't think this company has $2500, let alone $2.5 million.
The only reorganization of RXPC would be through bankruptcy.
But I apologize for spoiling the fun here. This is fascinating to watch. It's a testament to the gullibility and greed of the modern retail stock trader.
Some people made money here last week, and perhaps more will make money next week, but this "Twitter MJ rumor" game is a scheme, and it's shaped like a pyramid.
that's a nice post, runncoach.
But the fact remains -- most modern "investors" want to get rich quick and they don't want to work hard for it. They don't want to work at ALL for it. It seems like a victimless crime, to repeat bogus rumors we all know are false... but the savvy investors who profit from rumors like this already sold at .0002 or .0003 and are laughing all the way to the bank.
Radient is pretty much dead, but that's why it's such a good target for MJ and merger/takeover rumors -- impossible to disprove these rumors because the company has no IR and doesn't respond to inquiries. If there's no proof a rumor is false, it must be true? Fascinating logic, there.
Some people claim that they are going to visit the "office" this week and report back. That will be amusing to see whether they report the truth or just don't say anything at all.
There is no patent news. The patent application is an RCE - anyone who doesn't know what that means should do some DD on how many RCE applications are stuck in limbo at the USPTO.
There is no takeover/reverse merger activity. No entity is remotely interested in taking over, merging with, or acquiring Radient.
the Lawsuit is resolved -- both sides agreed to a $2.5 million settlement. the question is, will Radient put the money in escrow? Do they have the money? We won't know until 15 business days after April 22nd.
Finalization of creditor debt terms? What do you mean? That's an interesting concept, since Radient has no money and no funding.
You forgot to mention the MJ Sector rumor that is flooding social media for all biotech zombies like this one. Have you noticed that the shells rumored to be entering the MJ sector don't communicate with anyone, so it can't be proven or disproven? Convenient.
the O/S as last reported was 4.5 billion. The A/S is 5 billion.
Lenders can convert their $18 - $20 million debt into equity and we think they burned up the last 500 million doing this on Feb 24th. But, since there is no disclosure here and the TA stopped divulging the O/S, nobody knows.
You are wise not to expect real information on these MB's. When the dust settles here, I advise you to look back and see who was speculating about mergers, takeovers, and the MJ sector, and note the accuracy of their statements.
Radient doesn't have an office in Tustin.
a telephone number doesn't need a physical location.