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"I have already heard that this post has been sent to Loch/CDEX shareholders, as well as to the SEC contacts who investigated Loch/Cdex. Hopefully you can help them with your personal knowledge."
LOL! It's not personal knowledge, it is a matter of public record. Boone filed a form 144 with the SEC for that transaction.
Although now that I think about it, filing a 144 does not necessarily mean a transaction took place. OTOH, I can't possibly see how he would have let that filing expire without selling, not at around 5.00/share.
MS. Pennstreet has very legible posts and she likes to correct other posters grammar as well.
That last person posting under the "pennstreet" alias was not Ms. Pennstreet, it was either the uneducated, CDEx CEO or the original ontheedge/kidinsight/aussiekang/pennstreet after hoisting a few at the cantina.
You're right Kidd, pennstreet is quoting his own posts, then replying to it! LOL
Boone couldn't have cared less about having some worthless shares
disgorged when he sold 2 million shares at or near 5.00/share a year earlier.
He made his nest egg. The toothless shareholder lawsuit, spearheaded by Robert Stewrat and company worked out beautifully for the defendants.
It was almost like Stewrat was working for MP and the Boyz and not the shareholders.
Andy Badger was right.
Someone seems to have this investment group thinking there's still some money to be plucked out of this penny stock scam.
I wonder what investors were told to throw their money down the rabbit hole.
Must be hard to prevent those investors from reading the truth about Loch/CDEx on this form. In fact it can't be done, the only thing that someone can do to cover up old lies is to tell new, more outrageous lies, something that one small group of posters (posting under one alias) have been doing on a regular basis here IMO.
Mr. Stewrat has represented creditors and holders of large equity interests seeking corporate contol?
Say it wasn't so.
That seems to be the truth since it was allegedly attempted again in the most recent BK court proceedings where the Trustee prevented a "loan-to-own" scheme from being implemented by none other than the PP investors from Lubbock, TX- Mr. Stewart's investment group (fondly referred to as the oil patch boyos [TM- Crow])
Robert Stewrat a paid PP Hawk for both Loch Harris and CDEx? I wonder what PP investor would think about that.
Original Answer of Defendant Rodney A. Boone
In the District Court for Travis County Texas, 201st Judicial District
"1. Plaintiffs Robert Stewart and Mari Stassi are inappropriate representatives of the general shareholders' interests in Loch-Harris due to NUMEROUS past business dealings of Mr. Stewart with both Loch-Harris and CDEx, Inc. in which Mr. Stewart has received FINDERS' FEES for and has REPRESENTED creditors and holders of large equity interests seeking corporate control. Mr. Stewart has, on information and belief, conducted illegal proxy solicitations with respect to Loch-Harris over the internet."
May 17, 2002
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=47890008
" I know you read every SEC filing that Cdex has ever filed. There has never been one mention of anyone, including Mr. Stewart, that has been paid a commission for bringing in Private placement investors."
You do mean Robert Stewart correct?
As I recall, the accusation of RS being a paid stock salesman is in Loch Harris court documents, not a SEC filing.
AFA CDEx is concerned, I believe that they would be pretty good at keeping his name out of SEC documents for various reasons, and of course, that would allows him to get paid under the table.
Don't all penny stock scams have a company shill? That would seem to be a standard tool of the trade iffin' you were to ask me.
What was the name of that guy who allegedly had a meth detection business in the Phoenix area? How's he doing? Is business booming or did that little charade serve its purpose and has faded away? LOL!!
"Oh what a SCAM!"
Yes, I know that RS posts on this form, well... him, his wife and at least one other all post under the same alias.
That's been a CDEx tradition for years, hide behind an alias to post false information in an attempt to cover all the shady CDEx activity, or should I say, lack of activity.
Or both.
"You ask if he is and angel investor or and angel promotor? Really? lol"
"an", not "and"
Kapeesh?
Pennstreet, how much commission does ROBERT STEWRAT get paid for bringing in PP investors?
Is he considered an "angel investor" or angel promoter?
CDEx is a dying scam because no one believes the outrageous lies the company has to tell. Raping naive PP investors of their money is the only thing that keeps them alive.
The thousands of one-time investors have all moved on. There's no one left on these boards that doesn't know that CDEX IS A SCAM, not even the last remaining CDEx promoter posting on this board can refute the OVERWHELMING evidence exposing the CDEx liars and the CDEx scam.
"Maybe you should rethink blasting of Cdex. I mean, when the company becomes successful, how are you going to feel about all the people you kept from taking the risk and making good money?
BWAHAHAHAhahahahahaha....(gasp)...hahahahahaha.....
THIS SCAM IS DESIGNED TO MAKE MONEY FOR INSIDERS AND TAKE MONEY FROM STUPID INVESTOR WITH MORE MONEY THAN BRAINS.
But it is their money and they can do with it what they please.
If I'm going to give money away I'd prefer a worthy charity instead of lying, low-life thieves, but that's just me.
During litigation, I remember Robert Stewart was accused by the defendants of being a commissioned stock salesman for Loch Harris and as a result, requested the court to remove him as a plaintiff due to COI (or something to that effect).
*** Let me help you with the real facts concerning who made accusations. It was a fellow named Morovan who sent the court several inaccurate and misleading submissions concerning both Ms Stassi and Mr. Stewart. The lawyer for the defendants never had any issues with Stassi or Stewart. The Judge found no issue's or conflict's of interest with Stassi or Stewart. The court records are clear on those facts.
I'm not talking about lmorovan, I know his complete story in detail. I'm talking about how the defendants in the Loch Harris DA suit accussed ROBERT STEWART of being involved with selling Loch Harris PP's on a commission basis. The defendants claimed it was a conflict of interests to have ROBERT STEWART continue as a plaintiff in the suit.
Fact. All in court documents.
I wonder if current CDEx PP investors know the full history of ROBERT STEWART and his involvment with both Loch Harris and CDEx.
If they don't they need to become educated on the subject if it's not already too late.
Crow, I think you may be referring to Jasmine99. He was the one that initiated the original lawsuit against Loch Harris. Jasmine later accused ROBERT STEWART (the-later-to-be "Angel Investor" in the CDEX bankruptcy docs) of hijacking the lawsuit from him.
Robert Stewart and Mari Stassi became the plaintiffs in what turned into a DA suit which excluded Jasmine, the initiator of the suit, as a plaintiff.
As I recall, the ultimate benefit of that suit favored the scamsters and had little benefit for honest shareholders.
During litigation, I remember Robert Stewart was accused by the defendants of being a commissioned stock salesman for Loch Harris and as a result, requested the court to remove him as a plaintiff due to COI (or something to that effect).
I believe both the plaintiffs and defendants were all in cahoots and the DA was a well rehearsed act.
According to court documents, ROBERT STEWART appears to still be actively involved with CDEx in some capacity.
"CDEX Inc. investors chasing SCAM dreams"
That's not a smart thing to do. CDEx scam dreams have a ZERO RETURN.
Their big mistake was believing damn liars.
Amanita, I believe that's where CDEx got the idea to dream up the iG4. They saw what a real company can produce and wanted to copy them juat like they copied Sandia labs.
Of course, a penny stock scam company like CDEx can't even come close to producing Ahura Scientific's unique products, they can only try and con investors into thinking they have something similar.
Ahura uses in-house designed ASIC circuitry to produce such a powerful instrument in such a small package. I've been impressive with them for years. I had the opportunity to field test one of their units several years ago.
An incredible company.
You were just trying to be funny weren't you pennstreet?
Good one! LOL
"Waiting for the launch of the G4"
BWHAAAHAHAHAHA!
Wait a darn pickin' second, didn't the G4 already launch over two years ago?
Oh that's right, that was the CDEx CEO, Jeff Bumfield, in a PR, lying to investors of a public company.
"OH WHAT A SCAM"
14 years and almost 40 million dollars of investors money gone and what is there to show for it?
Nothing but yet another "revolutionary" product "just around the corner"!
Did I say, "OH WHAT A SCAM!"
They paid off the balance of their service contract and wanted it out of the pharmacy.
FACT
Pennstreet's reply:
Obviously they did pay the $30,000 dollars. A point to consider could be this, just maybe the CCT worked perfectly, but the hospital found that they used it at a much less rate of drug testing than they thought they would. The supervisor in the clean room sent a detailed usage note to the accountant at the hospital, and they determined that the usage was minimal. The head Pharmacist had seen the new G4 perform, and he had asked the supervisor to look at their usage of the CCT. Once the hospital staffers did their homework, they asked Cdex for a way to save money until the G4 makes its launch.
LOL, LOL again. Now I'm LOLROTF. Now back to LOL!
A point to consider "could be", "just maybe it worked perfectly..."?
Not bloody likely, or should I say, that's about as likely as the rest of your story!
What an absolutely hilariously concocted story pennstreet! LOL
Can you please provide the written communication from CDEx which can confirn your talltale?
I didn't think so! LOL some more.
Crow, nice summary of the CDEx scam. I like the the way you broke it up into a trilogy, makes for easier reading.
"There will be more of this is my guess, there is no one to service them (CCT's). Could lack of service led to or mean "unsafe" ?"
That's doesn't add up, if the units were unsafe CDEx probably would have breached the service agreement and the hospital wouldn't have be compeled to pay off the contract.
Similarly, if the units did not do what CDEx advertised (something they are well known for doing) that would also have been cause for trashing the unit without final payment.
I think the unit was just redundant (like you said) and just didn't add any additional benefits making it worth using.
I can just see CDEx dangling them the proverbial carrot by telling them of all the upcoming new features the unit will soon have- all total BS of course and not in the contract!
Could be why they originally bought the service, but after no new upgrades materialized they simple knew they'd been swindled and wanted nothing more to do with CDEx.
Hospital dumps CDEx's CCT!
Wow! That hospital must have wanted to get rid of their CCT real bad to pay $30K and tell CDEx to "take it away".
They paid off the balance of their service contract and wanted it out of the pharmacy?
That certainly is BAD NEWS, nothing good can come out of that. The hospital didn't even want to use it for the remainder of the PAID service contract? They didn't believe it was even worth the cost of the cuvettes to continue using it?
There is obviously something wrong with the unit. "Ineffective" is a nice one of putting it.
No worries, it can always be dismantled in the boneyard room and any parts of value sold on ebay for pizza money.
Mama mia!
When one has completed their DD as Amanita wisely advises it will become crystal clear that CDEx is nothing more than a stock selling scam.
That's nothing surprising since the vast majority of all penny stocks out there are scams.
The CDEx scam managed to bilk investors out of almost $40 million before it apparently has finally reached the end. Not a bad run as scams go.
What's entertaining now is watching the CDEx lies get bigger and bigger as they desperately try to weasel a few remaining PP suckers out of their money.
The CDEx scam seems to be dead in the water.
Has anyone checked out the CDEx patent app for the iG4?
I wonder how that patent app for the iG4 is coming along. I'm curious whether they've disclosed (as they must for patentability) more details about the "unique algorithm" that allegedly processes both the weak Raman signals and fluorescent signals without interference.
That is the essence of their patent.
Maybe the whole thing's a scam and they're trying to come up with something as they go along. Kinda like how they marketed the features of the iG4 before they even knew if it was possible to make.
DO NOT BELIEVE A WORD THESE HUCKSTERS SAY UNTIL THE PRODUCT IS VERIFIED BY A TRULY UNDEPENDENT THIRD PARTY- NOT A PAID CONSULTANT OR AN UNVERIFIABLE BETA TEST SITE. (I know of such a independent third party that has been wanting to test the iG4 but CDEx wouldn't even return their phone call.)
And I certainly wouldn't invest a dime into this company until such facts are firmly established.
Sacrebleu! No one working at the little strip mall shop in Tucson, Arizona again today?
Maybe they haven't paid their rent.
"Would anyone who is a Cdex direct investor not know if G4's were not paced?"
Yes.
"Hum, one might think that funding would have stopped a while ago, had that been the case."
That is exactly what one might think. One might think that several of the direct investors are not happy at all with the lack of information and will not invested further in what they now see as a scam.
"I mean, after all, many thought that Mp did not place CCT's, but he obviously did.
We have all seen where just the other day, one was returned to Cdex."
When a hospital returns a CCT because it is ineffective they wouldn't get conned into buying another model. LOL
You're exactly right on how CDEx has propagated their latest scam invention. Don't forget how they used the USPTO to publish a couple pages of an alleged 40-some-page iG4 operator's manual.
Remember the CDEx promoter that was in on that trickery? Yes, capnmike who has been promoting this scam for years. He posted the USPTO link onto this board.
No doubt that deception was good to convince some PP investors the iG4 ("i" denoting "imaginary") was ready to be launched as the CDEx CEO, Jeff Bumfield, falsely claimed over two years ago.
Available public information supports the conclusion that CDEx has no beta units in hospitals to date. No doubt why CDEx has remained cloaked in secrecy. A lower echelon CEO was brought on board and a new level of CDEX lies began. At least the minion made a good scapegoat during the bankruptcy proceedings.
NDA or no NDA, PP investors can't be told the hospitals involved in beta testing if they don't exist. That's why it's going to be tough to get the PP investors that rescued CDEx from bankruptcy to dump any more of their money down the rat hole.
My guess is that CDEx hawks are out trying to recruit a fresh group of uninformed PP suckers. Afterall, that's their core business.
According to the last SEC filing, CDEx is broke once again. 60K will only sustain these scam artist for a few weeks until they go begging for more money.
Of course, in order to do that they are going to have to tell some believable lies to keep the poor PP suckers still thinking that they're heading for a windfall.
The last time CDEx went broke they conveniently filed bankruptcy which wiped out all the previous shareholders and creditors. That allowed them to attract new investors to a company they could callously say was "debt free".
They offered the new investors a "loan to own" investment opportunity, but fortunately, the BK Trustee saw through their little scheme and prevented that from happening.
This company and its perps is a 100% scam and it turns my stomach to watch how righeous that they pretend to be.
Here is a prime example of how stock promoters have tried to glorify every failed product coming from Loch/CDEx:
"There is a technology that will change who medications can be looked at in every hospital in the world, by the Valimed G4 from Cdex Inc."
Who medication... what?
Anyway, beware of this type of hype, we've seen a hundren times before from these Loch/CDEx promoters.
Poteet really had mud in his face when he finally decided that he was the inventor and not Dr. Henry Blair. I guess he was confused who was going to take credit for the research which originated from Sandia Lab in New Mexico.
Prior to working together at Loch Harris, Henry Blair and Wade Poteet both worked together (circa 1995) at OSEM (Optical Systems Engineering and Manufacturing). At that time, Blair claimed to have a PhD in engineering and was the CEO while Poteet was considered a project scientist and astronomer!
So how did Blair change from an engineer to a physicist when he began working for Loch Harris and why did Poteet go along with the apparent deception? These are certainly troubling questions which can't be answered by the reply, "Dr. Poteet was too busy in the lab to know what was going on."
That was the explanation for why Poteet did not contact authorities when it became known that his test reports were being falsified by Loch Harris scamsters to the detriment of shareholders.
I believe that similar troubling events have continued to occur into the CDEx scam and are continuing today. Just look at the record, 13 years and some 40 million dollars later what does CDEx have to show for itself? Just another magical new product just around the corner that will revolutinize the world! Other than that- nothing.
So what do I think when someone praises Poteet and tries to put him on a pedestal as a white knight? I think that person has got to be crazy if he thinks anyone is buying his baloney.
In the Loch days, Poteet did nothing as his test reports were falsified and released as PR's yet he continued to work for a known scam for the almighty buck.
In the last couple years it is clear to me that he's actually participate in the deception.
Anyone that tries to paint Poteet as the white knight is just one of the scamsters.
AFA I'm concerned, he's as guilty as Boone, Baker, Philips or any other of the lower echelon thugs.
Thanks amanita, I didn't recall it exactly right, but close enough.
There are so many documented lies from these scamsters! Any investor that would sink further money into this scam has obviously not performed their DD and probably can afford to lose every penny that they have already invested.
Some are saying that they are willing to invest more if Brumfield asks for it. Yeah, right.
Only a complete fool would do that!
I remember in the BK documents CDEx claimed to have three iG4's. One was shipped to that world-class medical research company (LOL), the second was their prop used to stage demos and I imagine the third was their development unit kept in house. (If one is to believe what they wrote in the BK docs.)
So where would all the other beta units come from? There's no way they would buy additional units from the manufacturer; they're not cheap.
The answer is quite simple and Mr. Crow has already expressed it in a colorful way. Desperate little scam companies do desperate things and among those acts of desparation is flat out lying, something that they've been doing for the last 15 years.
Why on earth would they stop now?
No CDEx PP investors have been given information identifying beta test sites regardless whether they've signed NDA's or not.
CDEx remains a scam.
Yawn.
So what does one do when the "magical" new product that was pitched to these investors as being commercially launched over two years ago still no where to be found?
I'd claim that "we decided to beta test" the product before actually launching it, but "we can't disclose which hospitals have the beta units because it's all top secret." Who wouldn't believe that? LOL
Crow, correct me if I'm wrong, but there are no "angel investors". Didn't the BK documents refer only to an "angel investor" with tha initials RS?
I believe that the rest of the individuals that pennstreet is referring to as "angel investors" are nothing more than the PP investors that prevented CDEx from going Chapt. 7.
Well they seem to be fairly competent at being CDEx hucksters and it hasn't been a bad gig as gigs go.