Radient Pharmaceuticals Corporation fka RXPC

[Gold Seeker]

Restructuring is just not going to have any kind of odd for success. Restructure in Chapter 11 means "new company". Bankruptcy is to protect the lenders and affords no protection to current shareholders. Radient is currently defunct so the shareholders have zero value. The lenders have notes so chapter 11 needs to resolve those.

This is how a chapter 11 would work.

1. Obtain DIP (debtor in possession) financing) to finance the cost of restructure.

2. Find some long term investor who will take stock in the new company in exchange for operating dollars.

3. Make a deal where the lenders take some shares in the new company for their notes.

4. Void all current shares in the old company. ( this is just mandatory because no new investor is going to share his money with a bunch of yokel investors from the old company.

If the first three items can be accomplished, a company can enter and exit chapter 11 as a new company.

Now for a business plan. The new company would have to have a business plan that gives some hope of success. Selling DR70 isn't going to work. Hasn't in the past, wont in the future.