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Email question about RPC

|Includes:Radient Pharmaceuticals Corporation (RXPC)

A question representing many of the ones we've gotten via email today:

-----Original Message-----
From: "Greg" <****@*********>
Sent: Friday, June 3, 2011 12:41pm
Subject: Rpc

Are you still upbeat about RPC? nothing seems to be going on for them lately..


Two days ago, as part of our research for an upcoming report we had a long chat over coffee with one of the major note (debt) holders that RPC was supposedly going to have to file banruptcy because of. The gentleman was very pragmatic in telling us that the investment group he is part of all feels good about several very positive things that are continuing to develop at RPC and that his group is very close to working out a deal with the company which, in his words, "will reflect very favorably for the company and their shareholders." When I asked him to handicap that scenario and when it might happen he said "I'm 95% sure it will happen very shortly. Certainly long before the final meeting with the Amex takes place."

These people have single-handedly bet millions on RPC, and their technology and are very likely aware of certain developments- i.e partnerships, financial projections, that have not yet been made public so to hear those comments was interesting, but certainly not any different from what we have been hearing from other sources about this "incredibly bleak" situation.

We also thought one of his comments were interesting given today's tabloid article. He said: "If the SEC or Amex had even the slightest hint that anything was suspicious or iffy about the company they would have shut them down already. This is a major U.S. exchange and we know they put the company through the paces during their hearing. We also know that RPC showed up very well prepared and had some big guns on their side; including that SEC investigator who was able to present some overwhelmingly strong evidence in favor of Radient."

Developing, but the tabloids have obvisouly made some progress which is impressive given that no one will even speak to them given their reputation. We've now gone from "the India order is completely bogus and the the distributor is made up" to "the Indian distributor has financial difficulties." Nice!

The company is scheduled to make a presentation at ASCO.

Stocks: RXPC