waterchaser, I have been studying this company since 2004, when I got in for the FDA play. It was called AMDL then.
I have not owned its stock since Jade mutinied in 2009. (That was the year they left, wasn't it?)
I find this to be the most fascinating story on Wall Street. I thought they were going bankrupt in 2010 after a dismal 2009 10-K showed that DR-70 was a failure and the CEO's guidance wasn't worth the cocktail nakpin it was written on.
But a certain stock "analyst" decided to promote the company right after that 10-K caused a lot of shorting.... and the ensuing short squeeze in April 2010 allowed the company to borrow money and keep going. This "analyst" did it again in January 2011 when he saw another chance for a short squeeze, and he was successful again, allowing Radient to refinance THOSE defaulted loans with NEW loans which they defaulted on within three months.
Longs held their breath and waited for that "analyst" to come to their rescue one more time, but Radient had diluted and the opportunity for a short squeeze was gone. That "analyst" disappeared in 2011, leaving some broken dreams and depleted brokerage accounts. Radient had to admit in 2011 that (a) there was no Mayo Study, (b) Jade was not an asset after all, and the company had a shareholder deficit, not shareholder equity, (c) the "$10 million India Sale" was not a sale after all but a failed distribution agreement, (d) onko-sure was a dud -- generating $300,000 gross revenues at an operational cost of $10 million.
Delisting. Reverse split. Massive dilution. Debt conversion that didn't even keep up with interest, let alone pay off the defaulted loans. Threats of personal lawsuits by the lenders, met with threats of bankruptcy by Radient. Fast forward to today: 5 billion O/S at .0001.
Anyone bother to contact the T/A? that last 500 million in the A/S is gone, isn't it?
Oh, and the PATENTS. I question whether a patent for an unprofitable device is worth much, to anyone. I used to do patent searches at the library, before the internet.... Fascinating to see all the patents for products that never made it to market, or made it to market but were unprofitable. What is the value of a patent for a device that won't turn a profit for anyone?
