The Lubbock PPers lost ALL the money they PUMPED into this obvious pseudoscience phony tech penny scam. I think that is a fine outcome. Wade gravy-trained his way for 17 years with LOCH and CDEx without ever producing a single gizmo that could be successfully marketed in any significant amount - regardless of which CDEx CEO and marketing clowns were promoting the failed gizmos: Malcolm Philips Jr., the Texas-licensed professional engineer (per his own resume!) and failed lawyer who was kicked to the curb by Winston & Strawn, Greg Firmbach, the Huzella-buddy who was CEO of CDEx for awhile, not Jim Griffin while he was CDEx CEO, nor El Gordo - Mister Bankruptcy himself, Jeffy Bumfield.
Nobody could sell Wade's failed pseudoscience projects - not Decatur, not Baxa, not CDEx.
The test units did make quite/quit/quiet a splash in Puget Sound though. Whoops-oops, better not mention THAT debacle.
Only Wade got rich off this pseudoscience tech penny scam. He bought a bunch of real estate with the proceeds from 17 years of "consulting" for the LOCH and CDEx scams.
The Lubbock PPers lost it ALL. Every penny. As it should be. Fools and their money ..., as the aphorism goes. And just in time for the collapse in oil prices too - so no CDEx gizmo to locate oil fields will be forthcoming. Bummer for the Lubbock PPers. As it should be.
But the pièce de resistance is that the Lubbock PPers never figured out who the Professor was - the Professor who told people from the beginning, with the bogus ELF demo that Wade did on the Capitol lawn, that the 'tech' story was baloney and that intractable background problems would make all of Wade's claims and the tales he told the PPers and others impossible. Neither Wade nor any of the various CDEx staff knew much (or anything perhaps) of modern instrumental analytical chemistry, and why the dream gizmos of Wade and Henry Blair would never ... could never ... work as advertised or claimed.
Had the Lubbock PPers (and others who lost their "life savings" in the LOCH/CDEx 17-year scam) listened to the Professor, think of how much money they would have saved!
If only Henry Blair or Ole Wade had found the magic ray they claimed at the SPIE meeting where they were basically laughed out of the conference, then they might be up for the Nobel prize. As it is, they are up for the Ignoble prize, and the Lubbock PPers are definitely overwhelming favorites for the Financial Darwin award.
LOCH/CDEx - a 17 year ongoing scam that skinned both retail penny stock gamblers and PPers over-and-over for 17 years.
ELF can fly! Over a kilometer detection of landmines or drugs or IEDs or oil or counterfeit booze/smokes/olive oil/vino/you-name-it!
Only it was all a lie to sell shares in the scam.
$45 million bucks - poof - all gone. But at least Wade skimmed a bundle off that pile over the 16-17 years of this ongoing "tech" scam. All that money could have been saved or invested in Apple or Google or real tech stocks - if the conned investors had listened to the Professor who is not a JT nor in St. Pete or anywhere around there. Ever. The guesses were never even close - not even remotely so.
And now all that money is GONE - all GONE. All that is left is a shell that is a delinquent SEC filer. And Huzella's "ton of bricks" Schedule D capital loss carryforwards.
As it should be. And is.
AI
