Replies to post #17379 on Radient Pharmaceuticals Corporation fka RXPC

[lakeshore555]

I think Radient petitions for Chapter 7.

Especially after reading this new 8K. I think Mac has figured out how to walk away from the mess and get royalties after the dust settles.

MacLellan and Boswell have new business ventures. Radient is dead, and the debt is prohibitive. Chapter 7 means the Radient Corporation doesn't have to go to court for the CA, although MacLellan still has to.

I don't think a class action award would amount to much -- RPC stock tanked for many reasons, not just the Mayo PR's. But I think there is no money to pay lawyers to defend the Corporation. Chapter 7 solves that problem.

MacLellan is basically the only BOD member. If he gets $100k from UNI he can pay it to himself as back salary, then pull the plug, and UNI gets to do whatever they want with DR-70.