Radient Pharmaceuticals Corporation fka RXPC

[Gold Seeker]

Living, several weeks ago, gamblers were able to double and sometime triple their money on the MJ rumor. That is a huge incentive for the gamblers to try it some more.

As for shares surviving a chapter filing. That is a fantasy also.

Those longs claiming there is some sort of "takeover group are totally out to lunch. They have been making those claims for two years. Two years ago, anyone with $16 million could have bought the company by paying off the lenders and in the process owning over 90% of the stock. It would have been insanity on their part but lets say they did it.

Now, compare that to what it would take to do the same thing today. First of all, it is another fantasy, created by Wolfie, that the lenders own a ton of shares. Absolutely FALSE. The lenders were required to file form 13's because they had CONVERTIBLE notes and warrants. That does not mean they converted all of them. The last thing the lenders did in 2011 was to give the company $350,000 to file late SEC filings so they could legally convert and sell shares. DO THE MATH. The rest of the shares they sold up to the 4.5 billion limit never even returned the additional $350,000 they loaned Radient. They lost even more money and they still had all the previous notes. The interest on the notes is growing by 24% per year.

Anyone coming in today to "takeover" the company still has to deal with those lenders who are now owed at least $25,000,000 and probably closer to $30,000,000. Lets say he is Charter and friends. He puts up DIP financing and takes the company into chapter. He voids all the stock, creates a new company and gives the lenders a few shares and themselves a bunch of shares for some additional operating money. This would all have to be a pre-arranged deal prior to entering chapter.

Now, Charter and friends own the company but what do they have? There are no patents and anyone can make and sell their former product. Mac gave the technology to UNI who can make and sell all they want. Do the Aussies gamble more money hoping to get the patent application approved? Odds aren't good there and even then, the total product sales have never been more than $300,000 per year.

So what does the picture look like. Charter or anyone else would be making a huge gamble taking over the company even though they could now do it for less than a million bucks if the lenders were persuaded to take peanuts for their notes. That may not be the case but in both situations, the current shareholders LOSE everything.