Radient Pharmaceuticals Corporation fka RXPC

[Gold Seeker]

The lenders did not want Mac to declare bankruptcy because they wanted to continue selling shares. As a matter of fact, if you had ever read the last agreement Mac signed with the lenders, he had to promise not to file bankruptcy before August 2012.

" Covenant with Respect to Voluntary Bankruptcy. By its execution of this Agreement, the Company hereby covenants and agrees with each of the Investors that, subject only to the continuation of their forbearance agreements and the Forbearance Period remaining in force, as set forth in Section 5 below, following the date of this Agreement and through and including 5:00 p.m. (EDT) on August 31, 2012, the Company shall not file in any U.S. Bankruptcy Court a voluntary petition for reorganization under Chapter 11 of Title 11 of the United States Code (the “Bankruptcy Act”) or seek to liquidate under Chapter 7 of the Bankruptcy Act. The Company shall deliver to each of the Investors the unanimous written consent of the board of directors of the Company to this Agreement, which shall also include an express affirmation of the covenant contained in this Section 4."

The lenders have absolutely ZERO control as to Radient filing bankruptcy. The lenders converted and sold the 4.5 billion shares and currently just hold notes. NO STOCK. You are absolutely dreaming if you think they own stock.