Replies to post #29256 on Radient Pharmaceuticals Corporation fka RXPC

[GetSeriousOK]

Radient was insolvent in December 2012.

That is when they disclosed that they owed $900,000 for operational costs (vendors, suppliers, leases) and had no way to pay. That is the definition of "insolvent."

Even if UNI still paid Radient the $200,000 per year royalty fee after the last patent expired, it would not have saved Radient from death. $200,000 per year was a drop of water in the 55-gallon-drum of Radient debt.