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Prospector
Profile
204-01
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| Radiant Energy Corp. |
NAICS |
325998 |
| 40 Centre Drive
Orchard Park, NY 14127 |
Description |
Deicing Equipment Mfg. |
| (716) 662-0022 |
Employees |
11 |
| http://www.radiantenergycorp.com/ |
Revenue |
(mil) |
0.1870 |
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Income |
(mil) |
-2.4330 |
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Assets |
(mil) |
2.1650 |
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Liability |
(mil) |
3.5180 |
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(for the year ended 2001-07-31) |
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Category:
Restructuring
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Event:
Radiant Energy Corporation has received acceptance from the TSX Venture Exchange for the settlement of certain short-term, secured loans and series A debentures, with an aggregate principal balance of $2.45 million and the forgiveness of accrued interest equal to $344,592 in return for 18,163,022 common shares of the company. The settlement was signed between the company, 954740 Ontario Limited, a corporation controlled by John Marsh, an insider to the company, and Hara Enterprises Limited, a corporation control by Gregory O'Hara, an insider to the company, and with an arm's length holder of a series A debenture. Over the past 18 months, the company's financial goal has been to reduce debt. From June 2006 to the present, the consolidated debt decreased from $17.0 million to $9.2 million.
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Intellectual Property:
In 1993, Radiant started the research and development of the InfraTek system, which is used for pre-flight deicing of aircraft. The InfraTek system is a patented product that is based on infrared heat technology. [SEC Filing SB-2 09-14-01]
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Description:
Radiant Energy, through its wholly-owned subsidiary Radiant Aviation Services, developed and sells the only infrared alternative to traditional glycol-based aircraft deicing.
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Officers:
David A. Williams (Chair); Bruce R. Nobles (Pres., CEO & Dir.); Colin V.F. Digout (Sec., Treas. & CFO); Timothy P. Seel (VP); Robert D. Maier (VP); John M. Marsh (Dir.); Gregory G. O'Hara (Dir.); Steven D. Williamson (Dir.)
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Auditor:
Ernst & Young LLP
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Securities:
Common Stock-Symbol RDEGF.PK; Other OTC;
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