Radient Technologies Inc V.RTI.H

RE:RE:$9.5 Million shareholder equity wiped out - almost 50%

[hayman2000]

He was paid out in the last debt to equity conversion.  This will reduce their interest costs now.  And show some confidence from the CEO otherwise, why would he convert his sweet deal.

Shares for Debt Radient also announced that it has entered into a series of shares for debt arrangements with various creditors for up to $1.8 M at a deemed value of $0.10 per share in January 2021 and then followed up with a subsequent announcement for up to $6M at a deemed value that was adjusted to $0.105 per share. This includes $2.2M of conversion of secured debt from Akaura Holdings (owned by CEO Harry Kaura) and an additional $1M of conversion of indebtedness into shares by Fillmore Construction Management. This is a part of the growing faith and confidence in the business prospects for Radient and steps initiated by the new management to turn the business into a positive operating cash flow in 2021. Management strategy remains focused to de-lever Radient's balance sheet, ramp up operations and execute its business plans.