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BTW, I'm having some trouble finding Jeffrey Brumfield's California Brokeage License.
C'mon does he really have an active license?
http://www2.dre.ca.gov/PublicASP/pplinfo.asp
"Mr. Brumfield has his brokerage license, and the real estate in California is coming back."
Oh, you're now trying to convince readers that Bumfield is making money in real estate which has allowed him to lend money to CDEx at 42% interset? LOL
What happen to his job as CEO of the CDEx SCAM? Not much to do these days I take it. Maybe Poteet can hire him part time to work along side his partner Harold at CP Systems, Poteet's real job.
So the infomation that I received is true, CDEx doesn't have enough money to pay the CEO his exhorbitant salary?
Amazing! Oh what a scam!
"Mr. Brumfield is running this company, and putting his earned salary back into the company that he very strongly believe's in.!!!!!!!!!!"
Now that's interesting because what I was recently told is that CDEx doesn't have the money to pay Brumfield. It's not that he's putting his pay check back in the company, he can't get his money out.
So is that how he's able to loan the company money? If he can't get his money out at least he can tack on another 42% if CDEx can't pay him on time? It's not a belief in the company, it sounds like a way to fatten his already exhorbitant salary.
Kidd, is that what you're referring to? It sounds about right because where is Brumfield (with a recent bankruptcy) going to get money to loan CDEx other than his deferred salary?
"So sorry you missed seeing Dr. Coates, maybe you ask the neighbors to give a shout out as he walks into the Cdex office."
If Coates were to actually visit the CDEx world headquarters shop in the Tucson strip mall, shareholders will immediately be informed. As of now, no one has seen hide nor hair of him unless he was smuggled in wearing a halloween costume the other day. But even then, no one has reportedly been in the shop for several days, not even the special needs kid.
"Coates can do that comfortable from his house here in the east without ever wasting his time at the strip mall joke they call headquarters of cdex."
Of couse he can, and besides that, CDEx probably doesn't want him near the strip mall shop that they call their WORLD HEADQUARTERS anyways (TM- Nasfan). LOL
And you're right again, stating that Poteet is neck deep in the nonsense is an understatment. There was a time where Poteet allegedly didn't have the money for a new pump for his well, now I hear he's living high on the hog.
I wonder how his long time partner Harold is doing, is Wade sharing the wealth?
"Again there is no proof at all that Coates has even been to the small rental headquarters of the SCAM. If Coates does involve himself in attempting to make the prop g4 work it could take years and require a ground up restart."
I agree with you Amanita, I think if Coates is going to get involed with the development of the iG4 into an actual product that works it's going to take time.
What CDEx has done in the past is push products into the market that have not worked as advertised and should never have been released. As I've always said, what this SCAM has been doing consistently is selling half-baked products in order to sell their real product- PP's.
Not one product that CDEx has ever produced as stood the test of time, not one. And Poteet is neck deep in all this nonsense.
Maybe Coates Has already made some suggestions without bruising Poteet'e ego. According to a recent CDEx PR, it appears that they have changed one of the three detection methods. They no longer cite spectral reflectance, but instead cite UV absorption as one of their three detection methods.
Of course they still have the big problem of getting consistent results with UV absorption without the use of a cuvette.
There will be no magical instrument where you just "throw the drug into the chamber" and it identifies the drug and strength in every case. If they actually produce a G4 it will be exactly like their past products, a wishy-washy half-baked product released to sell PP shares imo.
We just won't learn about the short commings at first, but eventually THE TRUTH ALWAYS COMES OUT.
Amanita, nice summary of the dismal state-of-affairs of the CDEx scam. Looks like they're entering desperate times once again.
---------------------------------------------------
"Cdex moved pass the Penny Stock scamster stuff, when a true business man and leader was brought in by pper's."
"No hype on bogus pr's, as was the norm from the loch days and first 9 years of Cdex."
-pennstreet
---------------------------------------------------
The above statements are clearly unfounded. It's business as usually at CDEx, They're operating exactly like they did when MP was CEO. Everything is exactly the same, to the tee. Same ol same ol.
"Speaking of the management team, has anyone seen this guy John McConnell?"
There lies your answer Amanita.
"John McConnell, Director, Outside Sales Security Division
Brings 20 years of science and marketing experience to CDEX.'
What security division?
"Small appliance repair..."
The iG4 prop seen in the CDEx video sure is a bulky looking dinosaurs. I don't know why they didn't purchase something smaller and more modern.
They must have bought it second-hand off E-Bay or something.
I read in Coates bio that he had experience with spectrometer minaturization so I did wonder whether he had worked with Ahura (now Thermo Scientific) in the past.
Their 2 pound Raman spectrometers and the associated software are absolutely state-of-the-art. Amazing devices designed from the chip level up by a dozen PhD's working full time at Ahura.
"Diddy, you constantly pumped SMITHS DETECTION too. What about our CDEX Director having a background with those folks ????"
Sorry Viking, you got the wrong poster with that one, I've never pumped Smith Detection. Ahura yes (because they're so awesome), Smith Detection no.
"d4diddy, did you see the CDEX announcement made it to Bloomberg ???"
Yep, so what does it all mean? CDEx's IR firm is doing their job?
"Coates wasn't so much appointed as something as he was "hired"."
I don't believe there's any question that Coates was paid as a consultant. That's what he does. Receiving shares that do nothing but depreciate in value and get constantly watered down doesn't feed the bull dog. Once hired as a consultant, CDEx can spin it any way they want to make it look good.
What I wonder is just how much of the Valimed design CDEx is willing to disclose to Coates. It wouldn't take much for him to see what works and what doesn't work compared to what has been advertised.
Paying for expert testimony is par for the course with this scam. That play goes back all the way to the Loch Harris days with Wilson's white paper critiquing ELF.
No pennstreet, I am not saying that, are you?
"I think the 42% per annum is a lie."
You can think whatever you want, you know that your opinion is highly sought after around these parts and much appreciated. LOL
At least you didn't say that it was a 'factual fact'. That would be a repetitious redundantcy and just wrong.
Let's review the terms of the loan. There's two parts, a 12% per annum component and a 10% flat fee component for the duration of the loan which is a four month period. In order to combine the two components the 10% flat fee has to be converted to a per annum basis which makes it a 30% per annum flat fee.
They still can't really be combined because the 12% is a compounded APR and the 30% is a flat fee interest rate, but what the heck, saying it's like a 42% rate of interest loan is not 100% accurate, but it's close enough to gets the point across.
It shows what a sweet deal Bumfield made for himself and it provides plenty of motive for offering the loan. Is the loan secured? If CDEx defaults on the loan repayment can CDEx be taken over? Perhaps a further possibility as Crow has implied?
It seems like a COI for Bumfield to me.
"I think the 42% per annum is a lie."
Your a CDE
I don't believe the alleged CDEx funding has anything to do with hospital testing because I don't think the iG4 works well enough to be tested by a hospital.
I believe the CDEx staff knows this to be a fact.
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 higer the risk, the greater the rate of interest.
Is the end game obvious? Every twist and turn that CDEx has ever used to perpetuate this scam has ALWAYS end the same way, insiders lining their pockets and shareholders left with nothing. So yes, the end game is obvious.
*12% APR + 30% flat fee interst
Why do poster speak so negative about CDEx?
Because they're scam artists and have been doing this for the last twenty years. Sure there have been a few name changes along the way but the scam remains the same.
No one likes a scamster.
The scam artists at CDEx are trying to sell the light at the end of the tunnel once again while investors stand in total darkness.
Remember what happen the last time they attempted that, investors got ran over by the train! LOL
Oh well, just goes to show you that just because an investor is accredited doesn't mean he's savvy. Naive? No, naivety has passed, the lesson should have been learned, sucker is the correct word.
You also have to bear in mind that CDEx is a company that has been lying every since they changed their name from the scamco Loch Harris to the new scamco CDEx.
They're a bunch of damn liars running an on-going scam.
It's sickening to watch these crooks operate.
Amanita, that's funny that CDEx is claiming to "commence production of thr iG4", the last I heard they haven't even gotten it to work as advertised yet! There has not been one independent testing of the device! Not only that, there has not been a single case where someone has seen it work (other than the stories told by an on-line CDEx promoter).
And I don't believe there every will be.
Demmo, we both know that no one is buying into the CDEx Scam anymore. That ship has sailed a long time ago.
That's not to say that the scam artist that are running this dog and pony show aren't still trying to squeeze water out of a rock.
It just ain't like the good ol' days when investors actually believed the blatant lies these crooks told. Now the schemes and lies are so obvious it's funny!
Bumfield and Poteet, what a joke!!
The loan or revolving line of credit secured by CDEx is at an interest rate of 12% per annum with any repayment on the principal subject to an additional 10% fee:
"The Borrower may prepay any part of the principal of this line of credit at any time before maturity; provided, however, that any such prepayment must be in the amount of 110% of the portion of principal intended to be satisfied by such prepayment."
So it's basically a 22% interst loan, but only 12% accrues interest during the 4 month loan period while the remaing 10% is due on any repayment of principal.
A 10% interest over a 4 month period is almost like a 30% APR. Add on the additional 12% and it becomes better than the Griffin/Brumfield loan deal of a few years ago!
Of course this one is a Brumfiel/Brumfield deal which might be why it is the governed under the laws of the State of Ohio without regards to its conflict-of-law provisions.
http://en.wikipedia.org/wiki/Conflict_of_laws_in_the_United_States
No, I did not say that the iG4 uses cuvettes. However, what I implied was that without the use of a cuvette it will be very, very difficult to reliably measure molar concentration (drug strength).
If CDEx pursues the use of a build in scale, they can measure drug strength indirectly given the specific gravity of drug solution but that would not be as accurate.
"CDEX: The VG4 system uses a patented detection process providing a real time (within seconds) and quantitative (strength/concentration)..."
Not without a cuvette!
"What Next??? Positive ID of the wee green beings from space now living IN LUBBOCK, and putting on light shows?? NAW, no money in that!!"
These CDEx scam artists do try to stay trendy. I wouldn't put it past them to claim they've developed a method to detect the Ebola virus in its early stage of infection.
The solar pump scam scalped a few investors during the energy crunch years, Eliminating Landmines Forever (ELF) was trendy during the Princess Diana era. MP baited a good number of investors with his "suite of airport security products" after 911 of which zero products were ever produced. The CDEx scammies tried unsuccessfully to lure in PP money with the failed Meth Gun when the crystal meth was in the spot light.
Of course, the biggest failure of them all was Valimed. Why? Because they actually put the product into production- all 25 of them. That venture allegedly was launched when a member of the CDEx staff stumbled upon the medical error problem while at a doctors appointment. They even used the Tamiflu scare to try and promote the product- another failed attempt at staying trendy.
Now it's the newest embodiment of the failed Valimed, the G4 or Valimed fourth generation. Once again CDEx is playing off the latest trend in mobile 4G communication networks. Cute
So I say let's get busy in the lab Poteet and come up with a iG4 app for early detection of the Ebola virus. (The only drawback, you'll have to actually build a iG4 that works as advertised.)
It's smart, it's trendy and it will put an iG4 in every airport in the U.S.A. and beyond!!!
Cha-ching (TM- buffyz)
The CDEx Scam has burned thru almost 40 million dollars with nothing to show for it!
Can a scam get more obvious than that?
On their website IAA Financial is tryng to sell the "Respect, Integrity... etc" crapola just like Hanover Elite.
CDEx, IAA, HE... all peas in a pod.
"Is CDEx using Consultants (fake Angel Investors) to bring in unsuspecting Angel Investors ????"
You mean company shills?
I believe that CDEx does use shills, I believe that they've used them in the past and that they're using them now.
It's an effective tactic for any penny stock scam.
I don't remember Brumfeid having grey hair in that CDEx G4 video. Did he have a make over to look more distinguished for the show?
That's what scamsters do.
Looks like more of a scamsters convention to me. Out of all the attendees, how many do you think are legitimate companies? Maybe 10%?
They all look like hungry vultures.
Who's that rolly-polly guy in the middle of the CDEx picture sporting the grey beatnik beard? Jeff Brumfield?
Waiting for the 8K.....
"An accredited investor, a very educated doctor, and a person who is much in demand, as Dr. Terrell is, does NOT just invest dollars into a company for stock that he feels may NEVER be worth anything, imo."
Accredited or not, doctor or no doctor, in demand or not, none of those are prerequisites for making a smart investor. And only a fool would invest if they believe the stock will never be worth anything.
Just another gullible investor that's been hoodwinked by professional scamsters if you ask me, but perhaps he's smart enough to play the pump and get out before the dump.
Thank you Gentleman, your posts have answered my questions about how Coates and Terrell are being paid, how the CDEx scam has set up investors at the conference for easy pickin' and the true nature of some of these so-called "angel investors".
No wonder pennstreet was so sure that CDEx would secure financing at the conference that he wanted to place a wager with me! LOL
It all makes perfect sense and is consistent with how the Loch/CDEx PENNY STOCK SCAM has operated over the last 15 years!
A 100% STOCK SELLING SCAM!!
Does anyone know how much CDEx paid for Dr. Coates bio and participation in the funding drive?
Desperation time at CDEx once again. Apparently the angel investors have exhausted their patience with the false expectations of CDEx and the staffs exorbiant salaries. What's Bumfield making, somewhere around 25-30K/month and CDEx has only 45K left in the bank! LOL!
No more angels and no products to sale, no wonder CDEx has to go pitch at the Investment Conference. one thing is for sure, if the attendees at this conference are truly "bankers" as the name suggests, no one is going to touch CDEx with a ten foot pole. For those that can't comprehend the sentence above it means that no bank would ever, ever be associated with the CDEx scam. Ever.
If CDEx does manage to secure funding, it will no doubt be with sharks that can smell blood in the water. It wouldn't be good for anyone except the CDEx insiders that will continue to pocket the money through their exorbitant salaries and consultant fees.
I'm sure that the angel investors aren't going to like the idea of their investment getting watered down, but that's how the scam works. Investors come, then they fade away, no one stucks around and complains for too long. How many investors are still with CDEx after almost 14 years? I say ZERO!
Looks like desperation time again for CDEx. Apparently the angel investors have exhausted their patience with the false expectations of CDEx and the staffs exorbant salaries. What's Bumfield making, somewhere around 25-30K/month and CDEx has only 45K left in the bank! LOL!
No wonder CDEx has to go pitch at the Investment Conference. I thing is for sure, if the attendees at this conference are truly "bankers" as the name suggests, no one is going to touch CDEx with a ten foot pole.
OTOH, if there are penny stock investors attending, they just might smell the opportunity to make a few bucks off a good scam.
I'm sure that the angel investors might not like the idea of their investment getting watered down, but that's how the scheme has always worked, just ask any Loch/CDEx investor.
"...every filing with the SEC and Court deny's straight out that the company did not plan for bankruptcy."
Exactly.
Thank you.
Of course Brumfield and company planned the CDEx bankruptcy well in advance! There is no doubt about that and no one is denying it!
Chap. 11 BK is what they wanted, trying to blame it on employees that just wanted to be paid what was owed them in cash instead of worthless treasury shares is just ridiculous. CDEx would have proceeded with the BK regardless what the note holders did or did not do.
Let's not forget CDEx owed their vendors and other creditors millions of dollars, the note holders were just their scapegoat.
The BK wiped out CDEx's debt, shareholders equity and allowed the scam artists to attract new PP suckers with a fresh pot of treasury shares.
Like they really wanted to prevent the BK!! LOL! Po...lease!
"In the case of the G4 claims were made BEFORE necessary steps were completed. So actually the G4 has never really existed."
And who is the only person at CDEx that had the scientific knowledge to establish plausible claims in the first place?
a) Jeff Bumfield
b) Bumfield Jr.
c) Dr. Wade Poteet
d) The pizza delivery boy next store
"Just a demo mockup clobbered together in a futile attempt to attract investors and PP buyers. Seemed to work over around LUBBOCK...but nowhere else."
I was thinking that they must have purchased a COTS Raman Spectrometer which are more than capable of identifying drugs through their containers. Anything they attempt to claim beyond that like measuring the molar concentration of a drug thru a vial would be 100% pure hogus pogus.
Adventages of such a scenario:
- they would already have UL/CE certification (albeit, they're never going to put it in a hospital!)
- they'd have the RS manufacturer's technical staff available to assist in setting up a selected number of drug signatures for demos.
- the other claimed features of the instrument would be a lot easier to fake if it could actually identify a couple of drugs in they containers. The 'wow' factor they'd get from that would help tremendously in carry out any slight-of-hand deception.
- CDEx would have a device to use as evidence in their defense if the scam was busted.
Disadvantages
- With zero credit, CDEx would have had to shell out $25k - $30k for the spectrometer which is something that they would have much rather put in their pockets!
So where are all the mid-east sales?
TUCSON, AZ, Mar 25, 2013 (MARKETWIRE via COMTEX) -- CDEX Inc. (otcqb:CDEX), a leading developer of chemical detection products using patented technologies for use in healthcare, safety and security markets, today announced 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. The units will be placed in service at medical facilities throughout the region along with testing supplies for initial operation. Each unit placed requires additional service for installation and ongoing product support by CDEX for two years from the date of delivery.
"The on time completion and delivery of the 10 CCT units is a demonstration of our team's ability to execute timely. The future sales of supplies and service related to the initial transaction of these units will further our recurring sales and service revenue. The Al-Essa Group will utilize the ValiMed systems to underpin their client's efforts help assure the highest patient safety and to fight narcotics diversion in the healthcare systems they serve," stated Jeff Brumfield, chairman and chief executive officer of CDEX. "Our agreement with Al-Essa Group provides CDEX Inc. access to markets in the Middle East and could be a key foothold to build our international reach in the Middle East for our Valimed technology. We intend to showcase the Valimed G4 system to their customers once final testing is completed and the contracted units are shipped to U.S. customers during the second quarter this year."
Lies, lies, lies. Why is Brumfield still the CEO? Understandably, CDEx was in dire straights when they brought in Brumfield to spearhead the planned bankruptcy, but why is he still here?
"The company intends using the ValiMed G4 as a lab instrument for a research and development project to determine the shelf life of parenteral admixtures with regards to potency over time."
That's a blatant lie!
I strongly believe that this subtle change in the description of how the G4 works is very significant. It appears that CDEx is no longer claiming the use of spectral reflection, instead they are now claiming UV absorption.
What is claimed in their patent is spectral reflection:
"The photoelectric detection processes include Raman scattering, fluorescence and spectral reflection ..."
In their latest PR they have a new description of the detection processes. They're now claiming:
"ValiMed solutions rely on a unique combination of specialized spectroscopic measurement techniques -- including Raman, UV absorption and molecular fluorescence -- to accurately analyze, identify and determine the concentration of a drug/dose within seconds."
Why the change? Simple, they couldn't get it to work using spectral reflection. They had to go back to UV absorption, the same technique they used in the past which requires a cuvette to accurately measure drug concentration.
As I've said before, there's no way they're going to toss a vial, syringe, bag or whatever into the device and measure drug concentration- way, way too many varibles influencing accuracy.
Of course, this is what I believe to be true, others may think differently and be wrong. LOL