Lake, The 2011 lenders attempted to get their shares registered via an S3 which would not involved an extensive review of Radient. An S3 was filed in early 2011. The SEC responded accepting the S3. I happened to have an email address of the corporate review section of the SEC. I immediately sent them proof that Radient did not qualify for the quicky S3. In their next filing, Radient did indeed state that the SEC had sent them notice that they did not qualify for the S3 and the S1 would have to be filed. The S1 never got approved and the lenders had to hold their warrants and notes. In the meantime, Radient began paying off the lenders with proceeds from the notes hoping their registration would get approved.
When you cheat and get caught, it hurts. I don't like crooks.
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