sandmansachs, All of the talk about takeovers, reverse mergers, etc, are just myths. The lenders don't own a ton of stock as some posters claim. They just hold delinquent notes and with the 24% interest, it indeed would now total over $25 to $30 million.
Onko Sure is an unreliable cancer test with a ton of false positives. That is why it has never been widely accepted within the medical community. The yearly sales of Onko Sure were never more than $300,000 even in their best year. With those kind of sales, Onko Sure would be worthless to any large pharma. The FDA clearance Radient was finally able to obtain was to monitor colorectal cancer. That's not testing if someone has cancer, that is monitoring only people who have been treated for cancer. In addition, one of the restrictions on the approval was that it had to be used WITH CEA, not as a replacement for CEA that Radient was attempting to hype. NO one, not any insurance company nor medicare wanted to pay for any additional test that had a bunch of false positives.
IMO, people should just take the 8k on face value. The first thing you know is that this test is never going to make a bunch of money and anyone with a bunch of money is smart enough to not put any more money into Onko Sure.
Two of these guys are Aussies that have a private company in Australia selling Onko Sure, Charter and Brown, both of who are most likely the convicted felons that a google search reveals. I think they are just going to shut Radient down and take all the equipment to Australia for their own private company. There is a following in SE Asia for this test and if they can manufacture it cheap enough, they might get the $300,000 market Radient had.
I have never shorted nor intend to have any financial interest in this stock. I am not connected with anyone who trades, shorts or has financial interests in this stock. I only post facts and my opinions. I do not post on IHUB with different aliases.
