The reason this stock i9asn't going anywhere is NOT the class action.
This stock isn't going anywhere because:
1. the company hasn't filed financials since 4th Qtr 2011.
2. The company no longer has a manufacturing facility or a physical office.
3. All employees except the CEO and one other officer are gone. There is nobody to answer the phone, no IR, nobody manufacturing anything.
4. the A/S of 5 billion appears to be completely issued now. We don't really know, because the T/A stopped divulging the O/S several months ago when it was 4.5 billion.
5. The company has one product, a test called DR-70, and the patent expires in July 2014. A new patent application was submitted in 2009 but it was rejected by the Patent Office -- the patent app is now an RCE re-submitted in 2013.
6. The only place DR-70 had even modest revenue success was in Asia. Radient has now licensed DR-70 to UNI for $100,000 per year, and that license includes all intellectual property.
7. The last time the debt was divulged (end of 2012), it was $14 million, and ALL loans were in default. At that time, the company also reported $900,000 in operational bills they were unable to pay.
Those are the facts.
Now for some conjecture: #5 is important because the Patent Office has been delaying RCE's for years -- DD RCE and Patent Office.
#6 is important because there are no other revenues coming in for Radient -- just that $100,000 license fee per year.
#7 is important because Radient has no way to keep up with the default and penalty interest on those loans, let alone repay the principal.
Any counter-arguments are welcome. Conjecture about a takeover is not welcome. No entity will take over, buy, or merge with a toxic company like Radient.
