Cdex, Inc. (fka CDEX)

[Crow3]

The key words are VOLUNTARY CHAP 11 bankruptcy. Initiated by JB.
As CEO and Chairman of the BOD.

Made necessary by CDEX lack of operating funds and demands of all creditors.

The BANKRUPTCY was necessary to get court approval of the REORGANIZATION plan, which was also necessary because the ANGEL INVESTORS made it a condition precedent that THEY BECOME THE ONLY SECURED LENDERS TO CDEX before they would provide operating funds to CDEX.

Court approval assures that no debtor can make further demands on the assets of the company while it continues business as usual.
Assets on hand including any parts, etc, purchased and not yet paid for become nevertheless immune from creditor demands.

UNFORTUNATELY business as usual is just more SCAM activity. CDEX has taken the money and used it for salaries etc and have sold nothing of significance but VALMED 3s out of a junk room to KUWAIT.