Cdex, Inc. (fka CDEX)

[Crow3]

I think an interest rate of 42%* per annum may have been a contributing factor in the CEO and Pemmco offering a 430K line of credit. The higger the risk, the greater the rate of interest.

Loan Shark "vigorish" is typical of what happens when JB and his bunch does a loan. Remember the loan to GRIFFITH back when. 33 percent.

In this case a "line of credit" is a low cost way of doing it. No large initial outlay of funds.

The inevitable failure to pay even the interest when due, much less any principal with sale of product long before the "line of credit" is used up makes it certain that the end result will be joint ownership of whatever is left of CDEX by PEMCO + JB.