Biomoda Inc. (fka BMODQ)

[The Rainmaker]

Looks like RPC is converting 120 million shares for 35 cents per share?

RPC has 36 million shares o/s and is about to convert $41 million worth of debt into 120 million shares. Doesn't that mean RPC is converting 120 million shares for 35 cents per share? $41 million converted into stock. Stock was down 40% on today's news of massive dilution.

Stock prices often drop down to their conversion price with these big dilutions. That would mean this one might be headed down to 35 cents if this holds true.


Exhibit 99.1 which should explain the drop in PPS , ie , major dilution exceeding the last reported O/S of ~ 36 million , by almost 300% increase :

http://yahoo.brand.edgar-online.com/DisplayFiling.aspx?TabIndex=2&FilingID=7595462&companyid=4985&ppu=%252fdefault.aspx%253fcik%253d838879

(TUSTIN, CA) Dec. 6 , 2010/Marketwire – Radient Pharmaceuticals Corporation (RPC) (NYSE AMEX:RPC News) announced today shareholder voting results and the completion of its Annual Meeting of Shareholders held Friday December 3, 2010.


Votes received by the shareholders of RPC were in favor of the execution of a financial stabilization plan through the approval of the following initiatives :
· Issuance of up to 25,311,388 shares of RPC common stock issuable upon the full exchange andcancellation of the Company’s outstanding notes and loans.

· Issuance of 2% of outstanding shares of RPC common stock in exchange for cash consulting fees due under the Company’s consulting agreement with Cantone Asset Management LLC.

· Issuance of up to 708,261 shares of RPC common stock issuable upon the full exchange and cancellation of underlying the Bridge Loan and related warrants conducted in September 2009.

· Issuance of 1% of outstanding shares of RPC common stock in exchange for cash consulting fees due under the Company’s placement agent of the Series 1 and Series 2 notes transaction completed in the first and second quarter of FY2010.

· Future rights for RPC management to issue additional shares of common stock upon exercise of the Registered Direct Offering Warrants if and when required pursuant to further implementation of the anti-dilution rights granted in the warrants.

· Issuance of up to 2,194,157 shares of RPC common stock issuable upon the conversion of the principal and interest of certain notes and excise of warrants issuable upon conversion for not holders extending the maturity date of the September 2010 note.

· Issuance of 85,648,836 shares of potentially issuable RPC common stock below the greater of a share of RPC’s common stock book or market value at the time of issuance issuable pursuant to the financings that RPC completed in the first and second quarter of FY2010.

· Amend RPC’s certificate of incorporation to increase the Company’s authorized shares of capital stock.

Radient Pharmaceuticals Receives NYSE Amex Approval for Debt to Equity Exchange

Radient Pharmaceuticals Corporation (NYSE Amex: RPC), a US-based company specializing in the research, development, and international commercialization of In Vitro Diagnostic cancer tests, announced today it has received approval from the New York Stock Exchange AMEX to issue RPC common stock pursuant to proposals approved by RPC's shareholders on December 3, 2010 (http://www.radient-pharma.com/pdf/press_releases/2010/120610%20ASM_Voting%20Results.pdf).

According to RPC Chairman and CEO Douglas MacLellan, "We are pleased with the NYSE Amex approval and believe this sets the Company and on a solid path for the future growth and financial stability. Based upon shareholder and NYSE Amex approval of the various note transactions, warrant conversions and debt exchange agreements, RPC is in a position to have up to approximately $27 million in debt and $14 million in other liabilities eliminated. As a result, we anticipate an increase of approximately $41 million in total shareholder's equity."