Cdex, Inc. (fka CDEX)

[Crow3]

JB and MINIONS can modify the plan..they are still gotta make progress reports to the trustee. Damnfino what the Court will consider adequate progress or whether the Referee would bother to complain to the court if she sees inadequate progress. I do not believe that the court not the referee really gives a toss.

JB said he needed money. The LUBBOCK bunch came forward and offered to furnish it if all the creditors agreed to take shares in lieu of money, and agreed That LUBBOCK bunch would be the sole "secured creditor" from now on. The creditors overwhelmingly agreed. No appealing alternative existed. So they agreed.

No skin offa the Court nor the referee if CDEX does not get the plan done. Maybe the LUBBOCK bunch have a plan that I cannot see. I dunno. From what I can see, the plan is to sell PP shares, as per usual. I do NOT believe that they will find enough suckers to survive for long.

I cannot rationalize a scenario in which they can avoid being broke again in a few weeks..probably by FEB when the next annual report is due to the SEC or MAR when the next quarterly is due.

That is NOT a prediction, but an analysis which is based on what I can see from my perspective as an onlooker of long ACQUAINTANCE
with the LOCH/CDEX SCAM.