Radient Pharmaceuticals Corporation fka RXPC

[Gold Seeker]

DC stated: "Goldseeker's logic of the lenders converting as much debt into stock as they could and selling ALL of the stock to Retail at .0001 makes no sense at all.
By his estimate, they could only recover maybe $400,000 of the 17,000,000 owed them. Much better to work with the Takeover Groups and recover their money thru a new Radient-Diagnostic Corporation."

DC, it was certainly not the plan to sell all the stock at a few hundredths of a penny but plans don't always go as planned.

The problem was the lack of co-ordination between lenders themselves and between the lenders and the lawyers who were also paid in shares. The main culprits were the law firms who would absolutely DUMP shares on the market and take what they could get. Also one or more of the 5 lenders would sell more shares than the market would bear and soon the bottom just dropped out of the price.

When Radient did the reverse split and the lenders loaned them more money to get the filings up to date, I for one expected more discipline but the law firm was also paid in shares and they again just flooded the market.

If you want to blame someone for your shares having no value, point your finger at the lawyers.