Cdex, Inc. (fka CDEX)

[d4diddy]

November 22, 2006:

Investor No. 4: I have three very short to answer questions. How many
shares will there be outstanding after the new issue?

James Griffin: There will be 37 million, a little over 37 million shares
outstanding, which is where we are currently.

Investor No. 4: Okay.

James Griffin: Now if we are able to close a financing between now and
the special shareholders meeting, okay, I certainly would do that and that may
require us to -- well not may, but it will require us to issue more shares. So
by the time we get to the special shareholders meeting in Tucson in January the
9th, you know that 37 million might be 42 million or 40 million, I don't know,
it's hard to say at this point in time, but remember right now I only have 50
million shares authorized so I cannot issue more shares than what I have
authorized so until we have shareholder approval and we meet in Tucson at the
shareholders meeting might, right now I have 50 million shares available in the
authorized in the company and I have roughly 12.5 million shares available to me
to try and finance the company.

Such a fine line they walk on in scamcoland.