It is certainly obvious that the IG4 is a bust, even if it was EVER seriously expected to do anything other than sell PP shares.
Halfway into 2012 it was declared that it was ready to ship with firm orders for 17 and possibly over 20 more possibles. This was declared as true before a sitting Federal Court. With severe penalties for lying.
Here it is halfway through 2013, minus 14 days, and none of this has happened. But the BK has been declared fineto and the plan for "recovery " approved. The JUDGE has retired and a new Judge with no interest in persuing dead issues appointed.
So cdex has gotten away with the lies, but now running out of money. Again.
Chap 7 or just abandoning the company seems to be the ultimate outcome.
Unless tha LUBBOCK/PEMCO LLC bunch has different plans, now speculated about but unknown to the public.
