Yes that seems to be what is going on for this sought after cult classic.
Bill Allen and his friend/President of Silver Lake Pictures Ethan Terra, are getting the fans involved to get MGM ( they now own the rights ) to release rad and get this, do a sequel! Yes a sequel!

They have been getting in contact will all the stars from the original and getting fans to show just how much they want Rad on DVD.
For all the info and latest daily news check out Bill Allen's "Rad" Myspace page
http://www.myspace.com/theradmovie

They should name the sequel "Word". It would make more sense in this day and age.