Negotiations are still ongoing regarding the debt conversion. I was told by Radient's I.R. department that as soon as an agreement is finalized the details will be released.
FDA cleared Onko-Sure 3 years ago as a 'monitor' only which is a small market compared to a 'screener' market. Even with the FDA clearance Radient still can't sell this product. Sales are moving even lower than $10K per month...expenses are $550K per month. Do the math and you will see bankruptcy is in the near future for Radient.
Those biotechs that get financing are looking forward to putting a new exciting product on the market. Onko-Sure has been on the market over 10 years and virtually no sales since. Radient has proven that it does not have a profitable product, so no one is going to put money here. Earlier investors are looking to get out of Radient any way they can and that was the original reason for converting their debt holding to stock.