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Demmo, that's kinda what another poster said:
"I would be nervous too, especially if those interested parties familarize themselves with the postings of PENNSTREET, KIDINSIGHT and ONTHEEDGE, then seek their true identity.
Do angels sweat?"
Crow, who knows what the real story was behind the Kingsmen Island demo. How can anyone believe a word these scam artists say?
The only thing we know for sure is that the ELF/EM-1 was 100% accurate in finding freshing dug holes where land mines USED TO BE.
I was just going to comment on the interesting people getting copies of the court docs, among them are no less than three SEC attorneys.
It doesn't look like Loch/CDEx is going to pull off the same BS that they did in that Texas court. The results of that case cost honest investors 30 million dollars.
"Creditor Ryles declined to convert his note to stock when approached to do so by CDEX and its representatives, including CDEX’s “angel investor” Robert Stewart."
Looks like Mr. Ryles knew best.
Like father.
HEY! PENNSTREET come on back and post, you can even change your alias once again, we won't mind, it'll just be nice to have you back. After all, it only takes 1-2 posts to know that you're hiding behind another alias.
BTW, are you a personal friend of this guy?:
CDEX REPRESENTATIVE ROBERT STEWART
TIA
OH WHAT A SCAM! (TM- someone ?)
Are you talking about "Angel"?
DaCiscoKidd, I suppose since you didn't say, "Hey Diddy, guess what I shot at Augusta?" I shouldn't ask.
If you got on the course after the tournament that is.
You really should read the CDEX BK docs- facinating.
As Crow posted, seems like there's a group of "family and friends" that CDEX has disclosed in the court docs that are willing to invest, but only on a senior lienhold basis- if CDEx goes belly up, this investment group walks away with all of the assets.
Nice way to pass the hot potato (TM- Stk) and continue to keep the tech top-secret eh?
The US Trustee was concerned, calling it a possible "loan-to-owe" strategy where the investors would be "lying-n-wait".
Make sure you put those last phrases in the book, it sounds cool.
They're lyin' sunsabiches (TM- Crow) and have ripped-off honest investors for MILLIONS!
" Well heck says JB back...I got this G4 which is gonna pile up a sight of revenue when I get the money to work on it some more."
You mean the iG4?
The one Pennstreet and Kidinsight claim they saw working? Aren't they both CDEx insiders from Lubbock, Texas?
Who else has claimed they've seen it operate? And I mean verified by an independent third party and not a rigged demo at a trade show?
How many complete signatures do they have- signatures that use both Raman Spectroscopy and their UV fluorescent spectroscopy in a single test measurment?
The court should have a closer look at that before granting CDEX DIP financing. THEIR WHOLE PRESENTATION TO THE COURT FOR SUCCESSFULLY RESTRUCTURING IS BASED ON A PRODUCT THAT THEY DON'T EVEN HAVE READY TO SELL.
LOCH/CDEX has a long history of FALSELY promoting concept products that they don't have or that don't perform as advertsied.
Crow, is the trading info on this site accurate?
Amazing the BS that CDEx has pulled over the years, but thank goodness the world is round and has come around to 'do unto them'.
CDEX's first DIP emergency financing request was a doozie, asking the court to grant CDEX permission to obtain 1.5 million in secured loans against their $480K worth of assets shows their arrogance. They submitted no plan, no budget, no names of investors- nothing.
The Trustee saw it as a "loan to own" strategy where outside investors loan the company money against a senior lienhold on all CDEX's assets.
The new secured investors would be "lying-in-wait", if CDEX defaulted, the lienholders take everything and all current unsecured creditors get zilch.
In essence, it was a transfer of the tech scheme which was immediatey shot down by the Trustee.
Touche'.
As the Trustee noted, it's a 'red flag' when a undisclosed 'investor group' offers a million dollar loan against less than 500K in assets.
Especially when default means the lender can seize all the assets from the company.
It's a different kind of APA! LOL
"Loan-to-own" "lying in wait"
Remember the loch/CDEx "Asset Purchase Agreement" or APA?
What did shareholders get?
45.3 LOCH shares for 1 CDEx share.
Then CDEx did a 1:5 RS... remember?
Then there was futher dilution as they authorized more treasury shares from 40 million (after the RS) to 300 million.
And the whole time the PPS was waning.
I'm wondering if shareholders will be that lucky this time, really.
"Further, of course, is the curiosity question of who else (besides that poster) the SEC met with in LA. I don't think it's just a cowinkydink that said poster suddenly lost his voice right after that meeting, which meeting he was so excited to attend."
Where did you hear that 'that poster' was going to meet with the SEC in LA?
How do you know that 'that poster' was telling the truth?
Is 'that poster' someone that you normally believe or is the poster a habitual liar?
"This BK was planned not forced. Hopefully the trustee will root this out."
As I said earlier, they stick fairly close to the same blueprint. Last time they sued themselves with the help of insiders Mari and Robert as moles, this time they're bankrupting themselves with the help of the 'Rogue Three'.
There is absoultely NO WAY that CDEx was caught off guard, this has been planned all along.
Notice how hard Pennstreet/Kidinsight tried to shift blame to the 'Rogue Three' while praising JB. Same exact con game as last time.
The results will be the same as well, the crooks come out on top walking away scott-free, the shareholders get screwed once again.
"WHY is JB so anxious to give baxa their escrow money?"
I was wondering the same thing.
"And why is he claiming that he has now got some funds from somewhere coming in to replace them?"
CDEx is trying to persuade the court to grant the financing by using fairytale numbers. Did you take a look at the 'Exhibit A' spread sheet?
Buzz, CDEx has no orders for the G4. In their reply to the Trustee's objection to the financing, CDEx included a projection of G4 sales. CDEx forecasts sales of 2-4 units every month starting in May, 2012 and ending in February, 2013 for a total of 28 units.
They are just forecasts, not orders.
"But why would Gemini formally oppose CDEX getting the 1 million in the first place? Wouldn't ya think that they might have better prospects as well? along with the rest of us?"
Because Gemini is not a secured creditor and if CDEX defaults on the million dollar loan the senior lien holder will be first in line to gobble up all of CDEx's assets. Gemini and all other unsecured creditors will get nothing.
Shareholders are at the very back of the line.
CDEX is forecasting that they will sell 26 G4 units within a year. How many Valimeds have they sold in the last 8 years?
Ohhh that's right, no one knows! LOL
It seems that this U.S. Trustee has dealt with a penny stock scam or two in the past:
"Without a budget in place, a proposed interest rate of 12% that must be paid to avoid post-petition default, and the lack of historical financial performance by this Debtor, the U.S. Trustee is concerned that the proposed financing is merely a shield for a potential "loan-to-own" scheme by investors/creditors lying in wait. Red flags are further raised when the Debtor is seeking authority to borrow 1.5 million dollars secured by assets valued at only $425,000.00. Clearly significant prior investment exists as evidence by the issuance of over 109 million shares of common stock with 17,000 investors...."
My hat off to the U.S. Trustee!!!!
The trustee wants to know where the 1 million is coming from, but CDEx seems to be dodging the question only saying that the investment group is SEC accredited.
I think all CDEX shareholders would like to know who's willing to loan a million bucks to a company with total assets of under 500K and over 2.5 million in liabilities. Something stinks like rotten fish.
Does a voluntary Chapt. 11 filing effect the credit of the CEO?
All those exhibits include in CDEX's petiton to the court reminds me of MP and the shiny PSSS brochure- total BS.
They haven't told the court that the only thing they have is a Valimed and ID2 that don't sell and a G4 that is a pipedream.
I don't know about you Crow, but I'm in complete agreement with Gemini Master Fund's objection to CDEx's attempt at obtaining 'senior lien financing'.
It appears once again that CDEx is attempting to keep everyone in the dark, in this case, not providing the details in their petition.
I hope Gemini makes CDEx fill in all the blanks.
Maybe someone will posts these court documents. it's a interesting read and all shareholders that still have hope should follow this BK case.
CDEx has asked the BK court to expedite an order to allow up to one million $ in emergency funding to continue operations.
Thank you Arloco and Crow.
This is interesting:
"This system is an end of line machine that provides the hospitals pharmacist with a detailed analysis of the compounded admixture that has been prepared by the technician in the clean room of the inpatient pharmacy, by seeing through the IV bag, syringe, or vial. The machine provides the pharmacist the detail such as the drug, diluent, the dose by concentration or percentage, and the volume by weight."
I agree with Sea_urchin. At least WP layed the egg, but he may not have sat on it until it hatched. The marketeers got a hold of it and by the time it hatched it sure didn't look like a gosling.
The ELF, VAMMP, Myth Gun, Valimed... all advertised with either false or misleading information IMO.
Never the complete truth.
And now there's the Valimed G4 which several posters here (including myself) do not believe exists AS ADVERTISED.
Ahhhh HA!! I knew that it was ASD's chick that hatched from that Golden Plastic Egg!
Maybe the new chick, if it ever hatches, will belong to the international giant, Thermo Fisher (once Ahura) with a gazillion patents on Raman Spectroscopy.
When the CEXIQ shares become worthless and the new CEXIV shares become valid, I wonder how honest shareholders will be treated?
I would be pleasantly surprised if shareholders receive a 1:1 transfer from Q's to V's if that's how it works.
I won't be surprised if there is dilution like a 1:5 exchange ratio- 5 Q's for one V.
That's why I find it interesting that more shareholders aren't selling and the PPS hasn't plummeted further.
Crow, so who's the goose?
I can think of only one person associated with this scam that has trancended Harris, Boone, Bakers, Philips... etc, and all their cronies.
Amanita, so what are you saying, the scam contnues? LOL
Pennstreet, where is the "thank you d4diddy"?
"d4diddy, What a very good question. How is such a feat possible at Cdex?"
I don't know pennstreet, that's why I asked .
Now, are you going to answer it, or continue in trying to sell the 3-4 rogue creditor story to readers?
"Then, it sure makes one wonder why Cdex did not just file Chapter 7 and shut the doors, does it not."
Lawsuits up the ying yang ... for one.
"I wonder what really is the rule when the USPTO makes an error. Just wondering."
The rule is that CDEx is at fault, I already cited the USPTO policy remember?
"Failure to receive notice of fees due does not shift the burden of compliance from the patentee to the USPTO" (paraphrased).
Based on the IP assets listed in the BK filing, Mr. Brumfield allowed 3 trademark applications, the Valimed patent and 2-3 patent applications lapse under his watch as CEO.
"The patent mess has been taken care of my Mr. Brumfield and the Cdex patent Attorney. Let the internet catch up to the facts and all eggs can be removed."
You failed to mention the trademark 'mess', but that's OK. Good thing I called the 'mess' to your attention otherwise it would never of got cleaned-up.
I feel that a 'thank you d4diddy' is in order.
Mrs. Amorosi will be pleased.
Pennstreet, the Valimed patent has "expired" and requires a petition to be file and fees to be paid in order to reinstate it.
"When I addressed the trademarks issue, the trademarks issue is on the same footage as the patents. The USPTO had been sending notices to the wrong address, which was their error."
You are wrong, the expired patent and abandoned trademarks are not "on the same footage."
I was told that “abandoned” or “expired” classifications are not relevant in any event because they can be revived at any time within 365 days of the classification, so if any of these occur because of clerical errors, they are corrected immediately and restored."
What you stated above is correct pennstreet, the remaining trademark applications which were either abandoned or expired can be revived or restored, but only to their previous status which were just TRADEMARK APPLICATIONS. None of the abandoned applications were ever granted registration.
If CDEx chooses to restore them, they will return to their previous status as active trademark applications.
CDEX has ony one registered trademark, "Valimed", and has no other active trademark applications in the works.
One cannot file a trademark application with the USPTO, abandon it, then claim to have a registered trademark.
So I'll say it again Pennstreet, what is important are the facts, you cannot claim you have a patent or registered trademark if it's not true. Not even if you think you can get a patent granted or a trademark registered in the future.
Ask any patent attorney- THAT'S THE LAW
A SIGNIFICANT NUMBER OF THE IP ASSETS LISTED IN THE BK FILING ARE FALSE AND COULD BE MISLEADING INFORMATION TO ANY POTENTIAL INVESTOR.
Mr. Jeffrey Brumfield needs to ammend the BK filing lickity split IMO.
"Keeping the doors "open" (which they have NOT been in a while) or answering a forwarded phone call (when they even answer it at all) is not a "Win"... It just keeps this SCAM scamming !!"
I was wondering how it's "business as usual" at CDEx when they have little or no money and a whole bunch of unpaid vendors.
Are the employees working for free?
Who's paying the overhead?
The Loch/CDExx insiders have a CEO change with Capnmike once again leading the charge with threats of unleashing damning evidence against the old CEO, MP, whom they all once praised and worshiped as their savior.
And once again, there's no doubt in my mind that when the dust settles MP will walk away unscathed just like Boone and Baker did when they skipped out of this scam with all their ill-gotten gains a decade ago.
DA lawsuit by insiders, Chapter 11 BK by insiders, it's all the same means to an end in penny stock scam land.
Bravo Capnmike, bravo kidinsight/pennstreet/ontheedge, ya'll are like well-oiled machines watching out for the honest shareholders.... or at least giving them a warm and fuzzy feeling inside.
But just as before, the inevitable outcome of all their courageous efforts is that shareholders are going to get screwed.
One word of advice, since you guys seem to be so easily fooled you really should listen to the (spit) Bashers and mount your charge again the Bad Boys when we tell you to and not after the company becomes insolvent.
It almost seems like ya'll are working for them and not the honest shareholders.
Pennstreet, what is important are the facts, not what is or isn't going to happen in the future.
The fact is that Mr. Brumfield has listed a significant number of IP assets in the BK filing that CDEx DOES NOT HAVE.
The fact is that several patents/trademarks have either expired or were abandoned under Mr. Brumfield's watch as CEO.
"Maybe knowing who to talk to about Cdex Patents would be a good thing to do..."
Maybe? LOL! You can talk to The U.S. Patent and Trademark office and review file wrappers for each patent or trademark. It is all publicly available on their website at uspto.gov
Go do it Pennstreet, learn the facts and stop down-playing something THAT EVERY INVESTOR or POTENTIAL INVERSTOR HAS A LEGAL RIGHT TO KNOW- THE TRUTH.
A SIGNIFICANT NUMBER OF THE IP ASSETS LISTED IN THE BK FILING ARE FALSE AND COULD BE MISLEADING INFORMATION TO ANY POTENTIAL INVESTOR
No need to argue this point, just watch what happens in the next few weeks..."
There has been no argument and you are now aware of the facts.
Pennstreet, are you telling me that you have not informed Mr. Jeffry Brumfield of the blatant errors in the BK filing which he signed under penalty of perjury? CDEX lists ten (10) IP's where only three (3) exist.
"If it is about the BK, and the Patents, by all means, clear it all up."
Currently CDEx has one trademark (Valimed) and two patents (XRF and cuvette), the Valimed patent has been cancelled. I believe it would be a good faith move to contact Mrs. Amorosi and make the corrections voluntarily while CDEx still has that window of opportunity.
Listed under SCHEDULE B- Personal Property, page 13, line item 22 titled Patents, copyrights, and other intellectual property CDEx has listed the following:
1. TRADEMARKS: Valimed, Pocket ID2, Valimed G4, ID2 Meth Scanner
Here is the USPTO status of the above trademarks:
VALIMED- Active Trademark
Pocket ID2- Dead (application abandoned)
Valimed G4- Dead 9application abandoned)
ID2 Meth Scanner- Dead (application abandoned)
2. PATENTS: 7,106,826; 7,554,658; 7,154,102
Here is the USPTO status of the above patents:
Patent No. 7,106,826- Active (XRF)
Patent No. 7.554,658- Active (cuvette)
Patent No. 7,154,102- cancelled (Valimed)
3. PATENTS PENDING: 11,822,020; 60/817,101; 13016-0023
Here is the USPTO status of the above patents pending:
Patent Application No. 11,822,020- Abandoned (5/09/2011)
Patent Application No. 60/817,101- Expired (7/01/2007)
Patent Application No. 13016-0023- "the number cannot be retrieved as entered"
PATENTS PENDING: 11,822,020; 60/817,101; 13016-0023
Here is the official USPTO status of the above patents pending:
Patent Application No. 11,822,020- Abandoned (5/09/2011)
Patent Application No. 60/817,101- Expired (7/01/2007)
Patent Application No. 13016-0023- "the number cannot be retrieved as entered"
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