Radient Pharmaceuticals Corporation fka RXPC

[guardiangel]

Mr. Dcspka....The write down was for a purpose I suppose... If the company had placed a value to CIT then Rosen law firm would not have settled for a measly 2.5 million..Like Paul Harvey use to say.. "And now the rest of the story"... Like I said.."CIT is alive and well"... You do Gr8 DD and your logic is superb...Like I said earlier..Who cares about the momos getting shares and flipping..Let the creeping takeover group continue taking their .0001 and .0002 shares...Notice that if you had sold your 50 million ..You would not have gotten .0003 on February 24 and March 24..The creepers would not allow you to buy back at .0001 or .ooo2..The highest it got on Friday on the ask was around 24 million shares...You would have gotten .0002 for your 50 million shares and have to buy them back at .0002 and/or higher..You wouldn't be able to buy them back at .0001 because the creepers have placed a buy of 650 million or slightly less. They continue to play the same trading game..You would never be able to buy back at .0001 wiyh that scenario..So whoever says buying at .0001 and selling at .0003 or .0002 is not privy to "Back Door Listings/ Creeping Takeover concepts....Shall I educate them?


creeping takeover

Definition

Gradual acquisitions of the shares of a company with the goal of gaining a controlling interest. Shares are purchased over a long period of time in an effort to keep the share price down. There are typically limitations before how far the strategy can be used before a formal bid on the company must be placed.

William wanted to merge with Radient in 2010..The creeping Takeover was the only way to control the company because the outstanding shares were priced at around 1 dollar at the time with around 60 million outstanding..The shareholders at the time were claiming on the boards they wanted $2.50 for their shares.. A merger with Provista would not be feasible and the company was not worth that amount of monies..Then the 2011 lenders come in and lend us 8 million dollars. The agreement was to pay it back at $750,000 a month. We paid them back for two months (1.5 million) and then decided to not pay them and more..Therefore, they took us to New York Supreme court to recover their monies...The lenders and Radient came to an agreement. The lenders decided to recover their monies for Radient shares...

"Sometimes, a purchaser or group of purchasers will gradually buy up enough stock to gain a controlling interest (known as a creeping tender offer), without making a public tender offer. This bypasses the Williams Act, but is risky because the target company could discover the takeover and take steps to prevent it."

January 07, 2011 09:40 ET
Radient Pharmaceuticals Receives NYSE Amex Approval for Debt to Equity Exchange

TUSTIN, CA--(Marketwire - January 7, 2011) - 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.

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."

http://www.marketwired.com/press-release/Radient-Pharmaceuticals-Receives-NYSE-Amex-Approval-for-Debt-to-Equity-Exchange-NYSE-Amex-RPC-1377210.htm

Backflip takeovers

A "backflip takeover" is any sort of takeover in which the acquiring company turns itself into a subsidiary of the purchased company. This type of takeover can occur when a larger but less well-known company purchases a struggling company with a very well-known brand