How to kill investor confidence? Ask executives at Radient Pharmaceuticals (RXPC). They know where and from whom to find the worst convertible debentures.
Today Radient Pharmaceuticals (RXPC) released form PRE 14A with the following statements:
Radient Pharmaceuticals Corporation (“RPC” or the Company) is holding this Special Meeting of Stockholders at its California office, located at 2492 Walnut Avenue, Suite 100, Tustin, California, 92780 on November 4, 2011 at 11:00 a.m. (PDT) for the following purposes:.
- To amend our Certificate of Incorporation in order to increase our authorized shares of common stock from 750,000,000 to 5,000,000,000 shares;
- To amend our Certificate of Incorporation to authorize the board of directors to implement, on one or more occasions, reverse stock splits at ratios aggregating up to a 1:100 ratio;
- To authorize a 2011 stock option plan whereby an aggregate of up to 10% of the total fully diluted issued and outstanding shares of common stock may be issued and awarded to employees, consultants and directors of the Company, up to a maximum of not more than 500 million shares of common stock; and
- To transact such other business as may properly come before the meeting and any postponement or adjournment thereof.
Radient Pharmaceuticals Corporation
2492 Walnut Ave., Suite 100
Tustin, CA. 92780-6953
Tel: (714) 505-4461
Fax: (714) 505-4464
Good luck RXPC (or whatever ticker will be after reverse split) to your future endeavors.