Pennstreet:
Thanks for the prompt and detailed reply.
An additional 30 to 40 million shares to secure new investment dollars seems reasonable. No doubt CDEX needs an influx of cash to stay in business. Based on your estimate of new shares needed, why ask for 200 million shares? You might answer that JB would not issue the excess shares--however, JB has no track record and has not earned the trust of shareholders, including myself. While 30 to 40 million additional shares without significant news may not be fatal, the issuance of 200 million additional shares without significant news would drive the pps. to shockingly low levels... like we are not already at a shockingly low level!
Also, JB must be saying something to potential pp shareholders to get them to invest in a Company that has been mismanaged, has been run by crooks, and whose "science" team has yet to hit paydirt in over a decade.
Yet JB remains totally silent with respect to the common shareholders. Not a word from him...no CEO Statement...no justification for asking for 200 million additional shares...nothing...nada. You suggest calling him. I suggest that he talk to ALL shareholders.
Finally, you state: " Mr. Brumfield would not be the least bit concerned about issuing himself more shares to maintain his percentage interest in Cdex, imho."
I believe you are making this statement to affirm that there is nothing wrong or illogical with JB issuing shares to himself to maintain his percentage interest in CDEX. I agree with that statement to a certain extent... that being with the proviso that he be mindful and diligent in not significantly reducing the percentage interest that I and other shareholders hold in CDEX. If he is not being a mench and is selfish in his attempt to maintain his interest, then he should be very concerned about issuing himself more shares.
So let me summarize: I do not know JB from Jack Sheet. I do know that he's requesting that 200 million more shares be authorized, where you acknowledge that he needs nowhere near that many new shares for new investors. Therefore, there exists the possibility that some or all of the excess shares will go to JB, who you also acknowledge would not be the least bit concerned about issuing more shares to himself to maintain his percentage interest in CDEX. I also know that JB is talking to potential private placement shareholders, but has yet to speak to his public shareholders. I also know that JB essentially took over by default, was not sought for his present position, and has no experience in running a public/tech corporation. I also know that the science team has yet come up with a successful, reliable, marketable product in over a decade and that not all this can be blamed on previous management.
So I remain wary, to say the least.
AI
