That LOI for the Radient/Provista merger in 2010 described Provista becoming a subsidiary of Radient.
in 2010, it looked like Radient had $20 million shareholder equity, with new financing just completed. Provista was smaller and had fewer assets.
Fast forward to today. Radient has a huge shareholder deficit because that $20 million equity was Jade and the SEC forced Radient to admit in 2011 that Jade was worth nothing. Radient defaulted not only on the 2010 loans but the 2011 loans as well. Radient today has no facility or even an office and has no assets.
Provista, meanwhile, did some financing of their own, built a huge new facility, and today is successfully operating.
For that 2010 LOI to be "enforceable" or "in force" or whatever, that means Provista is still going to become a subsidiary of Radient.
Not likely, in my opinion.
