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The only current patent application is an RCE for the last rejected patent application originally filed in 2009.
Radient's current patent is expiring in July 2014.
DR-70 formulation hasn't changed significantly - there is no new ingredient that reduces DR-70's false positives or allows it to distinguish between cancer types or tell the doctor "where in the body" the cancer is located.
RCE's are infamous for taking years.
goldseeker, I think Radient will incorporate in Las Vegas for exactly that reason: Lax regulations.
For all intents and purposes, Radient will be "a Nevada incorporated business" just like his other business KwicKans (or however that is spelled).
I think Radient has no intention of operating in California. However, I think MacLellan needs a way to accept $100,000 per year from UNI, so he needs Radient to be incorporated SOMEWHERE.
Well yes, good point.
Nevada, Or Virginia -- isn't Virginia a state that is friendly for incorporating?
I don't think MacLellan will "locate" Radient anywhere. Radient exists on paper and there's no reason for it to exist anywhere else.
But I think MacLellan needs Radient to be incorporated somewhere, so he'll probably file the papers with California to re-establish Radient in that state. That would be cheaper and easier than incorporating in a new state.
The Agent in question was probably the CFO Ariura who resigned last year.
RXPC could not look worse, IMHO.
There isn't even the HOPE of news. No drugs or devices in the pipeline, other than CIT which the company wrote off as "worthless" in their last SEC financial filing... which was 4th Quarter 2011.
You're buying stock in a company that hasn't reported financials since 4th Quarter 2011. Think about that.
runncoach, I saw that. I didn't think you or Gold werecsaying that MacLellan resigned.
In all fairness, I am not Goldseeker and I think it's quite easy to tell us apart. And we are not the only two who think this company is dead.
I don't think anyone said MacLellan resigned.
Who would he resign to? There is no Chairman of the Board. there is no Board, for that matter.
Apparently it's a rolling 3-5 weeks.
Present conditions reinforce my theory that manipulators are trading stock back and forth to create the illusion of voume. What other reason is there for trading such tiny lots?
PS: Nobody buying this stock is "long." Nobody puts pinksheet zombie biotechs in their 401K and no institution would EVER buy and hold garbage like this. Anyone buying this stock is looking for a trade only.
They may end up holding it for awhile, because buyers are hard to find, but that doesn't mean they are "long investors."
Nice post, runncoach!
If I were rosen, though, I would not count those eggs until they are in the basket -- in this case, the escrow account. I am not convinced that the $2.5 million will ever get deposited.
When Rosen filed the lawsuit in 2011, Radient appeared to have shareholder equity and future revenues. We now know that the shareholder equity and future revenues were empty promises.
Maybe there is no insurance. Maybe Radient can't pay the class action award. I'll believe it when I see it.
The patent app is an RCE. There is a problem with RCE's being backlogged at the US Patent Office.
http://www.ipwatchdog.com/2013/02/14/the-rce-backlog-a-critical-patent-office-problem/id=35431/
This means the Radient patent app could remain in limbo for years.
Class Action pushed back to April.
Boring.
looks to me like a pair of manipulators traded a million shares back-and-forth in the morning to try and head-fake some momo players.
Didn't work, so they shrugged, painted the tape in the afternoon, and walked away.
I stand corrected. I think everyone who says it's a woman is making an assumption.
Andreas could be a man or a woman.
typing in all caps and using a bold font does not make it true.
4.5 billion O/S, 5 billion A/S
O/S is probably higher but the TA stopped divulging that info and the company hasn't filed with the SEC for a long time, so, nobody really knows.
the Dignyte CEO is a woman, yes.
Tell it to EAPH.
they will look at this company with its $20 million debt and one failed product and ask you to please put down the crack pipe.
a prediction is fact?
Only if blackpantherz is the one who bought 40 million shares at .0002. In that case, his prediction was not hype.
And some lucky soul flipped 40 million shares for a 100% profit. Nice trade, even if it was only $4000 profit.
There is no New Company.
There is no merger, takeover, or buyout.
This company is not getting into Cannabis or anything else.
why is "Volume coming today" not hype?
RXPC merger will never happen.
It's this simple: nobody is going to merge with or take over Radient because Radient is buried in debt and has only one marketable product (DR-70). Any entity wishing to manufacture and/or sell that product can simply license it from Radient the way UNI did and the way GCDx would do if they could convince an investor to fund the project.
No reason to believe "big news" or ANY news is coming soon, or ever, with the following exception: There could be a news release by Rosen when the class action is finalized.
Even if Radient files for bankruptcy some day, it won't be a press release or an article. It will just be an SEC filing.
Nobody is going to release a PR or write an article if/when Radient gets the patent application approved. It's not news. They have a patent now that will expire in July, and Radient failed despite that patent. A patent renewal won't save this company.
A renewal of the patent will accomplish one thing, I suppose: It would force UNI to keep paying $100,000 per year to manufacture and sell DR-70. If the new patent is rejected, they could terminate their agreement with Radient.
Not splitting hairs.
Stating facts.
Two ways of looking at every event involving MacLellan: you can try to make it fit your takeover theory, or you can look at it critically and accept the facts for their face value.
1. the press release was issued on behalf of eWellness. MacLellan is the Chairman of the Board of eWellness. Not the owner, not the CEO, not an officer. Agreed?
2. The press release clearly states the intentions of eWellness and Dignyte. Not McLellan's any more than anyone else involved with those two companies. Misleading to attribute anything in that press release to MacLellan.
3. Wrong. The approval requires "Dignyte and eWellness shareholder and board approval, [the] completion of an audit and the completion of a secured convertible debt offering of $600,000."
4. I, too, invite all serious Investors to think for themselves. Do NOT believe rumors on message boards. Take the facts at face value.
That third item listed in #3 above is the most important: eWellness needs to come up with $600,000 or the deal is off. Can eWellness come up with $600,000? That agreement was scheduled to be signed in December 2013. Did it happen? If so, where is the PR for that? The actual signing of the agreement seems far more newsworthy than a LOI that "contemplates" signing an agreement.
"Dougie Mac has publicly expressed his intent on bringing this reverse merger to an OTC exchange the first quarter of 2014."
Publicly? Where? Provide a link or other proof. Summit Capital issued that PR. MacLellan did not publicly express anything in that PR.
"He also states at that time he will be issuing common stock for public purchase, and raising another $600,000 from private placement. "
States? Where? Provide a link or other proof. You have this completely wrong, I'm afraid. The $600,000 doesn't come after the new company gets listed on an exchange. It was a REQUIREMENT for the signing of the agreement in December.
Try reading the PR and Dignyte's SEC filing again. eWellness has to come up with $600,000 BEFOREHAND. Nobody says anything about "raising another $600,000."
what is your "case?"
Funny, I thought you stated that Gartner was "instrumental" in incorporating Dignyte and eWellness is "Dougie Mac's company." I proved both those to be false conjecture.
I proved the following:
1. There is no link or relationship between Dignyte and Gartner.
2. The eWellness/Dignyte "deal" is nothing more than a LOI that "contemplated" the signing of an agreement in December 2013. Nothing more has happened.
3. MacLellan is Chairman of the Board on eWellness, not the CEO or any kind of officer. He does not own or control or work for eWellness.
4. eWellness is little more than someone's dream on paper. They don't even have a website.
eWellness is not MacLellan's corporation.
William Gartner was not "instrumental in setting up the Dignyte shell."
And we don't know whether eWellness will reverse merge into Dignyte.
The facts are not as much fun as assertions to the contrary, but they are still the facts. Here's the PR:
http://www.menafn.com/c0d06ba0-15fd-40ab-b7b1-20687236f52b/eWellness-Corporation-Signs-LOI-With-Dignyte-Inc-to-Complete-aShare-Exchange-Public-Listing-and-Separately-a-600000-PrivatePlacement-to-Accredited-Investors?src=MWHEAD
"The LOI contemplates signing a definitive agreement on or before December 31, 2013." Why no press release that it was signed? It's February 2014.
"The LOI is nonbinding and the share exchange is conditioned upon several closing conditions, including Dignyte and eWellness shareholder and board approval, our completion of an audit and the completion of a secured convertible debt offering of 600,000. Accordingly, there is no guarantee that the share exchange will take place." That's a lot of conditions, most notably, someone has to come up with $600,000.
Who paid for the press release? Summit Capital USA in Tempe, not eWellness or MacLellan Group. And what exactly is eWellness? notice how little information is available about eWellness. How are they going to get funding? The dotcom bubble ended in the year 2000.
MacLellan is listed as Chairman of the Board at eWellness. That does not make it "Dougie Mac's Corporation."
Do a little research on Dignyte. The CEO is Andreas A. McRobbie-Johnson and she incorporated her shell in 2011, and all her SEC filings use the same Tempe address as her mailing address. Here's her first S-1:
http://www.sec.gov/Archives/edgar/data/1550020/000107704812000283/s1dignyte.htm
Notice that there is nothing in the Dignyte SEC filings about Gartner, and nothing ANYWHERE on the Web that mentions Gartner and McRobbie-Johnson together.
you say "with the help of Gartner."
What is your proof that Gartner was involved?
Yes, wait for news.
Wait. For. News.
Until there is news, this is just a zombie stock for a company that does not operate, does not file with the SEC, does not have an office or facility, does not have employees, has only two officers left (neither of whom do anything), and has a $500,000 market cap with at LEAST $20 million in debt that the company can never repay.
Sweet.
There is no big news coming soon, or ever.
Unless the company finally decides to file for bankruptcy. That would be news. Whether it's "big news" is debatable. The market cap of this company is under $500,000.
Saying it three times does not make it any less false.
Nobody is anticipating news here. Where would it come from? MacLellan has moved on, SRL stopped selling the test, and Radient hasn't released a PR for over two years.
The next "news" will be the class action settlement - not good news for Radient. And do we really know there is insurance money? Radient will have 15 days to put $2.5 million in escrow - what if they don't? What are the consequences? You can't get blood from a turnip.
Would Rosen force bankruptcy? It would cost him money and he knows there isn't much to gain: CIT is worthless, the only patent is expiring in five months, and UNI has a license to manufacture and sell in Asia, the only place DR-70 had even modest success, and the lenders are first in line in the case of bankruptcy. Rosen would probably get nothing for his efforts.
No, which means the manipulators are going to move on.
They might try to throw $10,000 or $15,000 back and forth to create the illusion of 100 million shares..... but they run the risk of holding RXPC, unable to sell it, and they do NOT want to be holding RXPC.
Who's buying RXPC? Pennystock manipulators and gamblers.
The manipulators want to trigger volume alerts for newbies who don't realize that 50 million shares of this zombie is still only $5000 traded.
And if they can get it up to .0002 or higher, they will sell and then short it.
A couple other zombies I track are seeing some volume too. There's money to be made off newbies who are at the stage where they think they see a correlation between volume and PPS rising.
How often have you seen "someone knows something" on a stock message board? and how often has that been correct?
43 million shares is $4300, spread over "just 11 trades."
That's not "investing." Those buyers might be intelligent, but they are not "investors."
This is a pinksheet zombie with a STOP SIGN because they do not report or disclose anything. "Investors" don't buy stocks like this.
Calling MacLellan "Dougie Mac" does not make him the lovable star of a sitcom. He is a businessman. When he sees that there's no more money to get from a business venture, he abandons that venture. How many examples do you need? PortaCom, Edgewater Foods, AXMP, RXPC -- that's not enough proof for you?
nobody believes this company will operate again and nobody believes there really is a takeover.
Buyout Rumors have a purpose. We all know that purpose.
Penny biotechs get manipulated on a regular basis. Someone is trying here. Will they bump it to .0002? I doubt it. If it goes to .0002, the selling pressure will smash it back to .0001 in the blink of an eye, IMO.
The "creeping takeover" rumor being discussed was first predicted in March 2011, when this company had shareholder equity, was listed on the AMEX, had an office and a manufacturing facility, and was still predicting $10 million in revenues from the Guar Diagno "India Deal."
This takeover rumor is coming up on its 3-year anniversary. The company is now listed on the bottom rung of the pinksheets, has a shareholder deficit, has no office and no facility, generated less than 5% of that $10 million revenue prediction in 2011, and stopped reporting financials after 4th Qtr 2011.
Do you believe there is still a takeover happening? That a "takeover entity" would watch all that and still want to own this shell?
No, I do not need to look up the definition of a creeping takeover.
It is absurd to suggest that an entity would take three years to take over Radient, buying $3400 worth of this pinksheet stock per day on a "big volume" day while the accruing interest is at least $13,000 per day.
That's right, $13,000. Do the math. Thew default/penalty interest is 24%. Radient owed $13 million the last time they disclosed their debt, and at that time they couldn't pay operational costs, so they definitely were not paying off these loans.
The debt has to be $20 million by now. 24% * $20 million divided by 365 is over $13,000 per day.
And it accrues.
No entity is going to let that interest accrue while idly delaying their "takeover." And no entity is secretly going to pay off MacLellan's debt without owning the company first.
The irony here is: you are touting some kind of takeover as a miracle cure for this zombie stock. But in the slight, and I mean SLIGHT, chance an entity wanted to bother with this destroyed shell of a company, they would cancel all the existing shares in the process of taking over. Your shares would go from .0001 to zero.
No, same old patent. The current (only remaining) patent expires in July 2014. The new patent application is here:
http://portal.uspto.gov/pair/PublicPair
search for Publication number 20100248269
It was filed in 2009, rejected in 2012, refiled at the last minute in 2013, and is now sitting in the queue at the USPTO with no activity in the past year. Same examiner who rejected the original app is reviewing the "new" app.
There is a clone of this app sitting in the World (WIPO) system. That WIPO app was filed in 2009 at the same time as the original US Patent app. This WIPO app has had no activity for years.
http://patentscope.wipo.int/search/en/detail.jsf?docId=US43372568&recNum=4&office=&queryString=fibrinogen+cancer+degradation+detection+monitoring&prevFilter=&sortOption=Relevance&maxRec=11890
Radient let the European patent application expire. I think UNI was supposed to keep paying the annual fees for that, but neglected to do so.
in order to understand the timeline for the "RXPC takeover," you have to explain why this takeover has been happening since March 2011 but has not finalized yet.
That part makes no sense. RXPC was a questionable takeover target in March 2011. Now it is more than questionable it's ridiculous.
there is no RXPC takeover.
There is no "likelihood" of a takeover, merger, or buyout.
Gartner and AZBio may know about the Dignyte merger, but there is no evidence that Gartner or anyone else at AZBio is participating.
There is also no evidence that the eWellness - Dignyte merger finalized or will finalize. There's a LOI and nothing more. You are taking a lot of liberties with your scenario.