Yes, interesting contradiction: if shares have been transferred away from "Retail Hands" in the past 18 months, who has been selling this past week, and why do so many shares keep appearing on the Ask under 0.0005?
I believe something entirely different. I believe that the absence of Schedule 13's means the entire O/S has been in retail hands for at LEAST the past 18 months.
I agree with you, runncoach, that there is no clear avenue of payment for the settlement. When Rosen filed the class action in 2011, Radient looked like a company that could pay. Radient was claiming shareholder equity in the form of $20 million value in their Jade holdings, and they were predicting $10 million revenues in 2011 from India. Unfortunately, the SEC asked them to prove Jade was worth $20 million, and Radient chose to value Jade at $0 instead. Suddenly, Radient had a shareholder deficit instead of shareholder equity. Radient was delisted from the AMEX. Then the $10 million India revenues proved to be false.
All easily verifiable in the SEC filings.
So, when a company dissolves like that, what does the plaintiff do? Continue to persecute the class action, knowing that there might be no money for an award regardless of the outcome?
DOES Radient have insurance to cover the $2.5 million settlement? They have 15 business days after April 22 to put the money into escrow. What will Rosen do if that money isn't palced in escrow?
I wish Radient would inform the public and its shareholders about the current financial and business condition. We want to know (a) what is the current debt, (b) does insurance cover the $2.5M settlement, (c) why did Radient let the FDA clearance lapse, (d) why did they let the European patent application expire, and (e) where is the company located now -- are they still in California?
