CIT and Jade have no value.
Radient admitted on their final annual report that CIT was worthless. Today, nobody is working on CIT and nobody has any PLANS to work on CIT. If you don't believe me, contact Dr. Chang at Florida University and ask him.
Jade said "Goodbye" to Radient in 2009, but Radient continued to claim that their "Jade Holding" was worth $20 million. The SEC didn't believe Radient's claim that Jade was a $20 million asset, so they forced Radient to either prove that valuation. We all know what happened then: Radient admitted to the SEC that the "Jade Holding" was worthless, changing Shareholder Equity into a Shareholder Deficit and causing the stock to be delisted to the pinksheets where it lost 99.99% of its value.
The Merger Rumor Proponents are now claiming that Radient lied to the SEC about the value of CIT and Jade. Apparently the Merger Rumor Proponents believe this was done to falsely make the shell appear to have zero assets, making it some kind of merger candidate despite the $20 million unresolved debt.
To summarize: the "longs" believe that a company that lied to the SEC, stopped reporting financials, defaulted on ALL its loans, declared itself insolvent, revoked share registration, cut all communication ties with shareholders, and disappeared without resolving its defaulted loans is a "Strong Buy."
And they rejoice in the fact that they still own shares in this company.
ahoo.
