Radient Pharmaceuticals Corporation fka RXPC

[Gold Seeker]

I do not think this will ever make it to a chapter 11 filing but you are certainly correct about the lenders being owed a ton of money. It's close to $30 million now. There is no takeover group other than the Aussies and they don't have any shares either.

Any share exiting chapter will belong to the DIP, New investor/s, the lenders and management. All of the current shares will be cancelled. There is absolutely zero reason to leave any of these shares valid.

My question is this. What would be the value of giving the lenders a bunch of shares for the shell? A new investor is not going to want to share and they have to have a plan for a product to make money. There is no product other than DR70. Mac tried all he could with DR70 and it was not enough. Neither was CIT.

Personally, I think the Aussies might make a little money selling and distributing DR70. Radient was making 330k in 2011. The Aussies should be able to keep some of that coming in to their private company since all their equipment will be free.