Living, I do not think the Aussies will pay for a chapter 11 filing nor will they be able to find anyone to provide DIP financing with the $25 million plus debt.
IMO, you will not hear anything more from these guys. Once they look into Radient in more detail, there is nothing to be salvaged other than the remaining antibody and equipment. If they want to attempt to transfer the above to Australia and attempt sales from their own company, that is about all there is left.
Let me ask you a question. Knowing what you do about the lack of sales of DR70, would you put up any financing? The last patent expires in 5 days and at that point, GCDX could make whatever they ever wanted to and not pay Radient a dime. Also, UNI can make and sell whatever they want and not pay Radient a dime.
Who would provide funding for a chapter filing?
The answer is NO ONE but if they ever do, you win and get all the points.
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