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The only prospective buyers here are pennystock flippers who want to buy at .0001 and sell at .0002
Nobody believes that RXPC will be a monster again and in pennies. If someone believed that, they would be buying everything offered under .001
If RXPC is going to a penny or above, this is a once-in-a-lifetime opportunmity. You don't find stocks increasing 100x very opten. It only happens when nobody expects it, and it only happens for companies that have assets.
Whether Dignyte completes the merger or not has nothing to do with the timing of their 2013 10-K. Releasing it in March means nothing more than: it was done, so they released it. Any other conclusion is conjecture.
Dignyte does nothing -- it's just a shell -- that's an easy 10-K to write, and there would be no reason to hold it until April 1st in ANY year once it's completed.
If MacLellan needs to "unload RXPC" before the eWellness merger can take place, then the eWellness merger will never take place.
RXPC and William Gartner have nothing to do with eWellness.
Nobody knows how many shareholders RXPC has.
There will be no "announcements concerning the reverse merger of RXPC" in 3 weeks, 3 months, or 3 years. There is no merger, takeover, or buyout.
MacLellan is the Chairman of the Board at eWellness, not an officer or employee. eWellness is not MacLellan's company and he won't be "concentrating on expanding" that company, whether the eWellness merger goes through or not.
I think their funding fell through and they extended the LOI three months just because there are no other buyers for Dignyte, so, no reason not to -- the extended LOI still uses the word "contemplates" so it's non-binding and non-contractual. Certainly, whoever bought $69,000 of Dignyte in 2013 can't be happy that this deal fell apart in 2013.
update on eWellness:
they amended the LOI and the new "contemplated" agreement date is March 31, 2014.
Stated in Dignyte's new 10K.
Where is the evidence of a Takeover?
I want to see the evidence.
I think it's absurd that anyone would take over a shell that has so much debt, when other shells are available at a fraction of the cost.
I think it's absurd that anyone would want to "own" DR-70 when they can license it for $100,000 annually, as UNI did.
I think it's absurd that anyone would want CIT when it's 13 years old and its inventor, Dr. Chang, has been working on newer Cancer Vaccine technology since he sold CIT to Radient (AMDL back then).
But I am willing to consider evidence to the contrary. Not conjecture or wishful thinking, but Evidence.
Thanks in advance.
Looks like you did some DD.
It's not going anywhere, EVER. The only way this company could be more defunct is through a bankruptcy filing, but apparently they will never do that. If they had assets, the lenders might force it, but, they have no assets.
But CAN you run away? If you bought at 0.0002, are you willing to take a 50% haircut and sell at 0.0001?
Well maybe somebody IS willing to pay .0002 for this "gem."
I guess the Wall Street food chain needs people to participate at all levels of Devourer and Devoured.
No doubts? I think at least a LITTLE doubt would be healthy here.
Looks like nobody wants to pay .0002 for this "gem" even though it is "obviously" going to increase 200x. And start filing financials again? That means they might actually find a place to rent and pay for a telephone line. For this company, that would be a HUGE step.
RXPC is a gem?
Interesting. We have different definitions of the word "gem."
Good luck with your RXPC project.
Where have you been hearing this?
I think the only place anyone is saying "RXPC = MJ" is on this message board. Which means.... well, you know what that means.
Did the CEO tell you he's going to re-institute quarterly reports?
If so, (1) when is he going to hire a CFO to accomplish that, (2) will they resume with 1st Qtr 2012, and (3) when is this going to happen?
You email the CEO? Really? what did you ask him?
Here are some questions you should ask:
1. How much does the company still owe on those loans?
2. what is the current O/S?
3. Where is the company located? IN WHAT STATE?
Do you understand the significance of question #3? We don't even know what STATE this company is located in now.
The Royalty Payments are $100,000 per year for five years, no more, no less. The CEO's salary, when they had money, was over $300,000 per year. Do the math.
the UNI Agreement says that UNI gets all intellectual property and a license to manufacture and sell DR-70 for an annual fee of $100,000. No additional royalties.
$100,000 per year doesn't even begin to keep up with the penalty interest on the defaulted loans.
investors relations for THIS company? There hasn't been an IR for three years.
MJ Sector is hype, and not every failed biotech is going to suddenly change gears and start growing pot.
The logical thing for this company to do is file for bankruptcy and walk away from all that debt.
Yes, you know. This company does not operate and is buried in debt. It's not going anywhere.
MJ SECTOR is a ridiculous claim.
But it's more likely than a merger/takeover/buyout.
The RM rumor died in 2011 when they were forced by the SEC to admit that Jade was worth nothing and they were delisted off the AMEX.
And the lack of Schedule 13's proves there is no entity or entities accumulating RXPC for a takeover.
no reverse split.
no nothing. This stock is dead.
they would have to spend money to do a reverse split and this CEO stopped spending money on this company after he sold the UNI license for $100k per year.
$100k per year is a sweet deal for doing nothing. I'm assuming the CEO found a way to pay himself that $100,000 without letting the long line of creditors see a penny of it.
Yes, awaiting Big News.
The problem is, there hasn't been Big News for this company since 2010, when they created NuVax and hired Chang.
Unfortunately, they stopped paying Chang in 2011, so he quit and NuVax disitegrated.
The only news since then has been news of the company getting delisted, ceasing operations, letting all their employees go, losing the building and manufacturing facility, watching all the officers resign, settling the class action, and giving Asia revenues and intellectual property to UNI. Not the kind of news that creates buying pressure.
The excception was SRL Diagnostics selling DR-70 in India for half price last February. SRL no longer sells DR-70. They must have cleared their shelves.
jim, that sounds reasonable.
If there is another day with volume around 500 million and no news.... that would be VERY interesting. I don't think manipulators can create that kind of volume now, with the A/S used up.
what do you mean by "a conversion of this nature?"
dcspka, you said:
"A certain percentage of shares have to be made available for All shareholders when there is a conversion of this nature."
That is a SEC regulation I have never heard of. Please explain. Include a link to the SEC page that verifies your explanation. Thanks in advance.
Who sold on Monday?
That was a lot of shares. Who sold them? Forget who BOUGHT them. Who SOLD them?
I think it was the lenders, because it showed up on REGSHO and that's how lender debt-to-equity conversion shows up. But maybe it was Radient's lawyers getting paid for their class action work.
Regardless -- That was pretty much 10% of the company that just got dumped. Whoever sold that many shares on the open market does not believe there is a takeover in the works, or they would have held the shares.
A transfer of ownership would have been done privately, not on the market. That was not a transfer of ownership between insiders. That was an entity dumping a LOT of shares.
The only sellers at .0001 were the lenders converting, and they are done now - the A/S is used up.
I figure a billion shares are held by bagholders who bought at .0002 or .0003 and won't take the loss. wolfman claims to own a billion shares. a group of loud "longs" who claim to be holding tightly and even STILL BUYING probably hold another half billion.
That's 2.5 billion of the 5 billion right there. Half of the O/S is locked up in the strong hands of a small group of bagholders. The other half? Scattered around to high-risk speculators who aren't willing to sell for .0001... yet.
I think these people go around calling every penny biotech an MJ stock.
In the case of RXPC I think I first saw it a couple weeks ago.
There are some new "shareholders" who bought Monday without even knowing the name of the company. Reality is sinking in today as they look around wondering what they just bought.
Agreed. No MJ involvement, or involvement of any kind for that matter, for this company.
Radient is no longer involved in anything except receiving $100,000 annually from UNI. They are over $20 million in debt and default interest accrues daily. They also still have $900,000 of unpaid operational expenses from December 2011. That $100,000 annual license fee doesn't go very far.
And Radient's only product, DR-70 / onko-sure, has its one remaining patent expire in July 2014.... After that, UNI will probably stop paying the annual fee.
RXPC is not a MJ stock. Never will be.
RXPC is a zombie biotech. This company will never operate again. no money, no employees, no building, no manufacturing facility, no revenues, no orders, their one product is no longer FDA cleared.
Them's the facts, Jack.
There is no takeover group.
Someone, or something, caused big volume, and that attracted momo players. It always does.
Was it lenders converting the last remaining shares of this stock? If so, then yes, you will get news soon, but it won't be good news.
Or was it a manipulatior, as I suggested? If so, then nothing more will happen. Tumbleweeds and crickets again.
Radient has no money and no assets. They are not moving to MJ or anything else. This company does not operate, does not file financials, does not have a building, does not have a manufacturing facility, does not have a BOD, and does not have employees. They have a CEO and one new officer, neither of whom are getting paid.
if that big volume shows up on REGSHO that means it was lenders converting. Lender conversion appears as shorting the day it happens.
If the lenders converted the last half-a-billion shares, I think that means something new really will happen here. I think the lenders will finally force bankruptcy.
Radient's assets are: a DR-70 patent that's expiring in five months, a patent application that's RCE which means it will probably take years to resolve, CIT which Radient wrote off as being worthless, $100,000 annu7al license payments from UNI.... and maybe some office furniture.
Some computers running 32-bit WinXP? Remember howe Dilek Mir used freeware and trial versions to create PDF's?
Oh and they might have a couple boxes of "Get Your Rear in Gear" t-shirts.
Jim, of course I am speculating -- there might be news out of India that I can't find yet.
We'll know if I'm right in a week or two. If it's just manipulation like I'm saying, we'll know, all right.
I don't know what you are reading, but you need to read this company's SEC filings.
Websites can only publish numbers from SEC financial filings. Since Radient hasn't filed financials since 4th Qtr 2011, you're not going to see the true financials online except in the SEC filings.
Manipulation. Happens to all pinksheet biotechs.
A trader bought this stock for .0001 over the past few weeks, and today buys some big lots at .0002. the momo and volume players come scurrying. When the dust settles, the manipulator sold all his .0001 and .0002 stock for a nice profit.
And now we have some new "shareholders."
Seriously, you weren't at least TEMPTED to sell today at .0003? After holding for a year and discovering just what exactly this company is?
you bought 10 million at .0003?
Tell us how much you like that trade next week when it's back at .0001 and the crickets are chirping.
yeah only about 5 billion shares.
No institutions and no insiders holding. The CEO doesn't own any shares. Read his interviews - he never has and never will.
The A/S is 5 billion and O/S was 4.5 billion the last time the TA divulged the number.
My condolences, Jim.
I can't post much during the day.
The people who were trying to manipulate this stock pulled the plug today after accumulating some shares, and they made a pretty good profit.
Welcome to the new bagholders.
Hope jimtash got out today!
An extension of what? A LOI that "contemplates" the signing of a real agreement?
The LOI is not a binding agreement and Dignyte is not bound by law to accept the offer. If someone else offered cash for Dignyte instead of a LOI that contemplates the possibility of maybe someday doing something, Dignyte would take the cash.
The "eWellness merger" is an idea. That's what "contemplates" means. There is no agreement or deal.