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Crow, it was still a good theory and quite plausible.
It's comforting to observe what has happen over the course of several years. The once CDEx Longs are gone. A few still hang, hoping to recover any small fragment of their investment. That fact is unfortunate, but what's good is this scam is kuput.
Investors are smart to stay clear of this scam.
The scam artists which have been operating the Loch/CDEx scam are at the end of their rope. Why?
The simple power of truth.
Oh well, so much for CDEx pursing the counterfeit drug market, especially when they'd be competing with an FDA backed product.
So the niche remains, compounded, high-risk drugs for bambinos.
Wow!
If the iG4 was ready to be launched as Jeff B claimed, I'm sure the Kuwait company would have waited for the superior product.
As it stands, CDEx needed the money badly so they pushed the CCT knowing that they were readily available in the CDEx boneyard, probably just needed a few parts here or there, detailing, then a final calibration before shipment.
Of course the iG4 is certified, it is certified by the manufacturer, not by CDEx. CDEx doesn't make the core RA unit do they?
I don't claim that pennstreet as a fact, that's just the allegation.
Which by the way, judging from his CDEx presentation on U-Tube, I don't find it difficult to believe.
At least he can memorize his lines.
I guess they didn't have to fake any demos since no one showed up other than the the perps, although I had thought that some of the Lubbock group that are still hoodwinked may have attended.
What happen to junior? He should have attended also.
MP had a masters degree is nuclear engineering and was a lawyer. The new CEO allegedly does not have a high school diploma, and is a failed businessman, however, according to pennstreet, he understands the technology better than MP.
Trying to put the new CEO on a pedestal is not easy... or believable.
Hurray for Milchip, his view of CDEx has finally became crystal clear.
After watching these crooks operate over the years and knowing that 98% of one's investment is gone can allow the TRUTH to be told.
What a joke this little-hole-in-the-wall scam is. I guess they had to keep the company in Tucson, AZ because that's where Poteet and Cauthen operate their business, CP Systems.
Good clean air and dark skies for the astronomy bizness.
Poteet gets it his way, cuz without him CDEx has absolutely nothing. Poteet is CDEx.
I hope they have key personnel insurance on him, or is he an independent contractor?
How was it possible that CDEx failed to pay him. If Poteet walked, CDEx would have been finished. They sure seemed to get him back awfully easy when he did leave.
Boy, I guess you have to credit JB for convincing him to return.
That, or perhaps it's hard to walk away from easy money.
The iG4 will still be, if delivered, a medical instrument for a highly niche market just as the original Valimed has been.
And just as its predecessor, I believe that the iG4 will not perform as CDEx and pennstreet (their defacto message board spokesperson) claim.
No mention by CDEx of certification, what signitures are available, or who, if anyone, has independently tested the unit.
The only thing we have to go on is from a CDEx insider, from a known scam, that posts unverified information on an investment message board.
Is this guy serious, what idiot would believe a word he says without independent verification of the facts!
Like I said before, IF the iG4 is certified it's because CDEx is using another manufacturer's equipment like they did two years ago when they allegedly shipped a iG4 to an undisclosed company.
So what has CDEx been doing for the last two years? We know Poteet has been busy work with Harold at CP SYSTEMS.
CDEx had no money, they were totally disfunctional, they were insolvent with no one being paid. The CDEx scam was dead in the water. What a beautiful time to create the iG4 TO SUCK IN NEW PP SUCKERS!
The books show no R&D or production expenditures neccessary to manufacture the iG4, perhaps enough to buy a unit to cannibalize.
So Poteet had two years to take another manufacturer's Raman Spectrometer and add the features to allow the unit to measure {molar} drug concentration. Not only would that be difficult to do without the use of a cuvette, it would be virtually impossible to do with a multi-component drug admixture.
If that is what CDEx is claiming then I believe Poteet is the ringleader of this scam.
Not to mention their R&D and ramping up for production and sale of the illusive iG4 which was suppose to be "launched" into the market well over a year ago.
Why did JB "expect" the iG4 to be on ther market over a year ago. Was it ready to go or was he feeding people BS?
I'll bet if one looks at the records it wasn't even close to a being ready.
I don't believe a word this scam company says either Crow. The devil is in the contract details I'm sure.
However, they do openly claim that the units were shipped:
"...the company completed and shipped the 10 unit order of its ValiMed(TM) CCT drug validation system to Al-Essa Medical & Scientific Equipment Company in Safat, Kuwait ahead of schedule. The shipment completes the sale secured in December of 2012."
According to pennstreet and johnreiner, the balance on the order was 200K and CDEx has been paid. Where they came up with that I have no idea.
Do I believe them? Not for a second.
Yes, without question, the iG4 will require electrical certification in order to be accepted by any hospital.
Unless... the units are commercial, off-the-shelf and are already certified.
That makes the most sense to me. Buy the units from an existing RA manufacturer and add your own propietary software and doo-hickey that will read the concentration of the drug, whether in a vial, syringe or IV bag by just "throwing it into the belly of the beast" as pennstreet claims he has observed in ther lab.
The PR announcing the shipment of 10 CCT units was released March 25. It states the following:
"CDEX was contracted to deliver the 10 ValiMed CCT units in the first quarter of 2013 and receive final payment balance of the order within thirty days of shipment."
The PR makes no mention of whether final payment was received nor the amount of final payment.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=86070443
CDEx debtors have already been screwed royaly. Debtors were paid in CDEx stock at a value of .25/share.
They've already lost 72% of the equity in their stock.
Will they sell when the restrictions are lifted or will they continue to hold? It probably depends on whether they buy into the-light-at-the-end-of-the-tunnel BS from CDEx.
I'm reasonbly sure that the debtors aren't buying into any of the BS coming from CDEx and just want to recover whatever they can and be done dealing with the company, even if CDEx has a new CEO with a nice smile.
OTOH, some debtors may not turn down future business with CDEx as long as it's on a cash in advance (CIA) basis- COLD HARD CASH.
Not Mr. Baker. Mark Baker incorporator of CDEx.
It's one thing to rip off investors, it's another thing to mock them as you're doing it!
"I laugh when I think about the inner circles of Money managers and angel investors*, who have no college, and are worth millions!!!"
- pennstreet
How Loch/cdeX shareholders have been ripped off:
It's called "Sell PP Shares" till you've exhausted the supply, then think of a plausible way to start all over again- things like 'Asset Purchase Agreements', Reverse Splits and BK's:
Has anyone calculated how much they've been ripped off?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=86786148
Mark Baker & JB are both members of the San Diego Boys Club.
I believe they're both about the same age too.
True, but pennstreet keeps bragging that, since taking over, the new CEO has never been late with a SEC filing, AS IF THAT'S EXTRAORDINARY!
That was the only bragging rights he had, poor fella.
YOU'RE KIDDING, And pennstreet wanted readers to believe that the CEO, despite all his shortcomings, was at least filing with the SEC on time. LOL
Anyone that would take information coming from the Loch/CDEx scam for face value needs their head examined.
Investors have consistently lost their money with this scam. First, there was the the Loch -> CDEx APA which left shareholders with 97.8% of their investment gone.
Then, of their remaining 2.2% investment, CDEx does a 1:5 reverse split which reduced the small remaining shareholder equity by 80%.
But the scam artists were'nt through, they then did a 1:10 reverse split through the BK action which reduced shareholder equity by an additional 90%.
That leaves shareholders virtually wiped out.
And pennstreet tells people to average down, things are rosy, we're debt free when in reality they should just walk away from this scam.
Shareholders have the right to speak their mind pennstreet, who cares whether CDEx likes it.
If the shoe fits- wear it.
Crow, I've seen that type of hearsay before. A CDEx insider says the order will be worth 2 mil in the hope that the Closer will broadcast that information on the internet.
Someone tried that with me once, but I didn't take the bait.
The information that I was given was a 100% premeditated LIE.
As I said earlier, CDEx will be lucky if they get paid the balance on that order. I don't think the Kuwait company is going to be happy with what they get.
2 mil? LOL!
"Just because Mr. Brumfield expect to be placing units by a certain time frame, and that time frame was not met, did not MEAN, he lied, lol."
LOL YEAH, the savvy, experienced, CEO (with no technical background whatsoever) was only off by a year and a half and counting. Just an honest mistake!
Like MP, like JB, both the same- snakes.
If you call the CDEx office you'll at least know what not to believe.
I'm wondering if those 10 CCT units scaped together from the CDEx boneyard will do what CDEx claimed, or if they'll be returned.
One thing is for sure, if the Kuwait company is not satisfied I don't think they'll ever get their money back.
If they want a refund, they'll have to go to the accountant Helen Waite.
Yep, they'll have to go to Helen Waite.
At this point I refuse to believe that CDEx even made a sale to Kuwait without evidence. The last thing I'll do is take scam artist for his word.
I'm going to make a few calls.
John, please direct me to where Stevenson has made a techical evaluation of the iG4 OTHER THAN ENDORSING THE CONCEPT.
And you can't use hearsay.
WHERE IS THE WHITEPAPER.
You should know by now how well these scamsters can lie.
About the CDEx SCAM (Part II):
Fast forward one year to the ASHP Show December 4-8, 2011. CDEx claims that they've launched the iG4. Where? Into space? They further claim that they demonstrated the product.
TUCSON, AZ, Dec 06, 2011 (MARKETWIRE via COMTEX) -- CDEX Inc. (OTCBB: CEXI), a
leading developer of chemical detection products using patented technologies for
use in healthcare, safety and security markets, today demonstrated its recently
launched ValiMed(TM) G4 multi-component medication and narcotic detection system
at the 46th Annual Midyear ASHP Clinical Meeting and Exhibition. The ASHP
conference is being held at the New Orleans Ernest N. Morial Convention Center
in New Orleans, Louisiana, December 4-8, 2011. The ValiMed(TM) G4 will be
showcased at booth 247 at the conference.
The ValiMed G4 drug validation system helps healthcare providers ensure patient
safety and control costs by reducing medication errors. The patented detection
process identifies drug strengths and volume-by-weight in real-time, validating
proper dose, diluents and concentration of high-risk compounded medications and
treatment solutions. The VG4 device will help healthcare facilities comply with
Joint Commission compliance requirements and USP 797 guidelines for compounding
sterile preparations (CSPs), and will integrate with electronic medical record
(EMR) platforms.
"With the recent launch and commercial production of our ValiMed(TM) G4 system,
we are excited to showcase the system at the ASHP Midyear conference, where a
national and international audience of industry professionals will witness the
power of our technology. We are the first to commercialize an affordable
advanced measuring system, with multi-component capabilities that will enhance
and improve the quality of care that pharmacies and clinical professionals
provide. The conference should provide an optimum platform for our ValiMed G4 to
gain market penetration and build industry buzz for our system. We expect to
deliver several units over the next six months as the market interest continues
to spread for the VG4," stated Jeff Brumfield, chairman and chief executive
officer of CDEX.
CDEX's VG4 significantly raises the bar for patient medication safety and
pharmaceutical drug loss prevention. The ValiMed G4 provides cutting edge
features and benefits over existing systems available in the market. In addition
to validating high-risk medications before leaving the clinical or pharmacy
environment, the ValiMed G4 will also monitor and discourage the diversion of
controlled substances by validating the returned or unused narcotics from
patient treatment areas or surgery suites. Other applications for the ValiMed G4
system include counterfeit medication monitoring, regulatory compliance and
training of clinical and pharmacy personnel.
I don't believe the iG4 was demonstrated, or at least, not fully demonstrated. I don't believe the iG4 demonstrated its ability to measure the molar cocentration of any drug. At best, they may have had signatures to identify a couple drugs using a OTS RA, mocked-up to look like a CDEx product. Identifying a drug is no big deal, many companies can do that and more.
Here is what pennstreet, an CDEx 'specialist' had to say on Jan. 01, 2012 (over three weeks after the show) about
demonstrating the iG4:
"I believe the demonstrations for the G4 are going to be a well liked demo."
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70428659
It's slips of the keyboard strokes like that that convince me the iG4 still had not been demonstrated 'in a working, as advertised, condition'.
The iG4 WOULD BE A GOOD DEMO if they can get it to work as advertised which I don't believe they can.
At this show, the CEO, Jeff Brumfield, makes no mention of contracts which they allegedly made at the show. Why weren't shareholders made aware of contracts from the 2011 show until a year later in a November 28, 2012 PR. Are they making this stuff up?
Brumfield claimed that CDEx would be placing units over the next six months. A SIMPLE LIE.
It appears that JB was more than willing to play the "sell PP's based on a non-existant product" game from the very beginning.
About the CDEx SCAM (Part I):
Here is the first PR for the iG4. The concept was dreamed up when CDEx was in dire straight. A great idea, but ideas don't sell. Notice the PR wasn't released until after the ASHP Show had concluded. No doubt CDEx and its scamsters didn't want any potential PPers actually viewing the, non-operative, mock-up iG4 IF THEY EVEN HAD ONE ON DISPLAY.
Release date December 09, 2010
NEWS CDEX Inc. (OTCBB: CEXI) (www.cdexinc.com), a leading developer of chemical detection products, using patented technologies, for use in healthcare and security markets, announced the Company will exhibit its proprietary ValiMed G4 multi-component medication and narcotic detection system, at the 45th Annual Midyear ASHP Clinical Meeting and Exhibition. The ASHP conference is being held at the Anaheim Convention Center in Anaheim, California December 6-8, 2010. The ValiMed G4 system will be featured at booth 1908 at the conference.
The fourth generation of the ValiMed Validation System significantly raises the bar for patient medication safety and pharmaceutical drug loss prevention. The ValiMed G4 provides cutting edge features and benefits over existing systems available in the market. The G4 identifies the drug, the dose, the diluents, and is the first to feature multi-component compound detection. The G4 will have an enhanced software platform for improved accuracy and reliability, while able to perform non-invasive measures of compounds directly through IV bags, syringes and vials, offering lower risk of contamination with increased workflow. In addition to validating high-risk medications before leaving the clinical or pharmacy environment, the ValiMed G4 will also monitor and discourage the diversion of controlled substances by validating the returned or unused narcotics from patient treatment areas or surgery suites. Other applications for the ValiMed G4 system include counterfeit medication monitoring, regulatory compliance and training of clinical and pharmacy personnel.
What has Poteet designed at CDEx that works as advertised? Nothing.
What did Poteet design while with Loch Harris that worked as advertised? Nothing.
He's spent 14 years and millions of dollars working on products which have been used to sell PP's with no products which I'm aware of that ever worked as advertised.
Why has he allow this to continue unabated?
CDEx is always selling something that they don't yet have just to rake in PP money and Poteet has been a willing participant. He even helps with the advertising.
Pennstreet, you're not going to find to many bleeding hearts for Poteet. As far as I'm concern he's as responsible for the loss of shareholder equity as any of the known scamsters.
There's only one reason that I can think of why Poteet would continue to work for such a scam company as CDEx.
Easy money.
So what's happening now, business as usual. CDEx is raking in PP money by advertising the iG4- an alleged product supposedly under development for well over two years now.
If it's ever actually produced, do I think it will ever work as advertised- not a chance.
At least CDEx as been predictable, so has
Poteet.
There are no angels at CDEx, that's for sure.
Well... except for the one investor that always comes to the rescue.. what's him name?
Poteet is excellent at inventing gizmos that sell PP shares, but bad at making them work for their advertisied use.
Wait, maybe Poteet has been to busy in the lab to know that the company's CEO is lying about what the product can do.
Or maybe Poteet is telling the CEO what the product will do before he learns he can't get it to work that way.
Sound familiar. Its not just the company's CEO that makes a company look bad, its can be the whole crew including the chief scientist.
I certainly believe that's the case.
Normally, the chief scientist does not do parts assembly, nor does any member of "the science team" which in this case is lone wolf Poteet.
"As I have said for YEARS, it is the Science of the Technolgy that has driven the belief in getting the tech to market, lol."
You should be laughing because you have no idea about the science.
The science that both Loch Harris and CDEx have been advertising has completely changed over the years, I know as a matter of fact. There is no new science in a Raman Spectrometer, it's been around a long time. CDEx doesn't even make them. The only thing that Poteet is trying to do is get a concentration reading by incorporating a different spectral device into the RA.
I know what problems he's facing. Ain't gonna happen, not without lying about how well it works.
Your knowledge of science as a laymen is what information Poteet feeds you and how you deliver your version of it to PP investors.
Tell me, what is the number one obstacle in developing an iG4 as advertised?
Go talk to Poteet and get back to me.
Like I've said in the past, you're nothing more than a used car salesmen.
"The science" LOL