Radient Pharmaceuticals Corporation fka RXPC

[Gold Seeker]

From the SEC filings:

"DEFERRED REVENUE

Deferred revenue represents the unamortized portion of a $300,000 exclusive
distribution agreement with a related party. The exclusive distribution
agreement expires in October, 2005 and requires the related party to market and
distribute the Company's products and to purchase a minimum of 10,000 DR-70(R)
kits per year. The Company is amortizing the balance of the exclusive
distribution agreement as income in the statement of operations over the term of
the agreement, totaling $15,517 for the three-month period ended March 31, 2001."

"During the three months ended March 31, 2001, the Company generated $59,747 from
product sales compared to revenues for the three months ended March 31, 2000 of
$2,585. The increase in revenues is due to a greater number of orders for OEM
products, sales of DR-70(R),"

The above revenue was almost twice the revenue received per quarter in 2010. What happened? Why did it all cease? RPC had an agreement to sell 10,000 kits. Sound familiar?

Sales all fell flat and distriubtors ceased selling Onko Sure when the complaints of false positives made the test unsellable.


All of the above is from a filing made in May 2001.

http://sec.gov/Archives/edgar/data/838879/000109581101502309/a72702e10qsb.txt