Trading halted as Radient Pharmaceuticals Receives NYSE Amex Approval for Debt to Equity Exchange

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By Staff and Wire Reports   
Friday, 07 January 2011 09:50
Shares of Radient Pharmaceuticals Corporation (AMEX:RPC) were halted by officials this morning.


Over 1 million shares had traded hands during pre-market hours this morning before Amex officials halted trading in the stock. The company specializing in the research, development, and international commercialization of In Vitro Diagnostic cancer tests, announced today it has received approval from the New York Stock Exchange AMEX to issue RPC common stock pursuant to proposals approved by RPC's shareholders on December 3, 2010.

According to RPC Chairman and CEO Douglas MacLellan, "We are pleased with the NYSE Amex approval and believe this sets the Company and on a solid path for the future growth and financial stability. Based upon shareholder and NYSE Amex approval of the various note transactions, warrant conversions and debt exchange agreements, RPC is in a position to have up to approximately $27 million in debt and $14 million in other liabilities eliminated. As a result, we anticipate an increase of approximately $41 million in total shareholder's equity."

BioMedReports ran a special report about the company this morning.

It can be found here: http://biomedreports.com/2011010762156/radient-positioned-to-deliver-significant-cancer-test-profits.html





BiomedReports is not paid or compensated to report news and developments about publicly traded companies. Full disclosure can be read in the About Us Section

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