Amanita~~
CDEX INC investors lose everything!
*** Well, to say the least, Cdex market investors and Private Placement Investors have had a very very rough road to hoe. Imo, these next 6-9 months will define the G4's potential in the market place.
Quote:
CDEX Chairman and CEO Jeff Brumfield said the company was forced to file for bankruptcy reorganization after failing to win the approval of creditors on about $2.5 million in unsecured debt remaining on a $4.5 million note.
"win approval of creditors" in other words instead of the money owed them the creditors were offered what?
*** They were offered the only thing that any public or private company can offer when there is NO cash to return to the investor, "STOCK".
Here's a clue what they were offered:
Quote:
"Last June, the company announced that its debenture holders converted about $1.9 million worth of notes to 22.2 million shares of common stock."
*** That is how it sometimes works in the risk investment world of chasing dreams. There are never any sure things when risk are involved, and there are always risk involved.
So, take some worthless shares in this SCAM for the monies you are owed, the monies that went into what? That's right the pockets of the perps, like poteet and bumfield and McCommon.
*** Those monies also went into all those educated Doctors, Engineers, and Technical staffers that you mentioned before. Including ryles.
Quote:
Brumfield said 14 of the 17 individual investors backing the original note agreed to restructure the debt, but without the full cooperation of the noteholders the company was unable to proceed
*** That is how the agreement was structured.
Seeing the list of note holders in the bumfield caused bankruptcy indicates that it was all former employees a VP, the ex CEO and an engineer who rejected the wall paper for cash offer made by bumfield. I bet the others like old Robert Stewart and of course bumfield himself lost their collectives butts (hilarious). It tells all future investors that it was former insiders who knew the truth of the SCAM and rejected the idea that they be treated just like another sucker investor. And so it goes.
*** Mr. Brumfield was the ONLY reason there was even a chance for the note holders to get the opportunity to receive STOCK. Otherwise, Cdex would have went through a Chapter 7, and the note holders would have received zero wall paper for their cash. Is it really hilarious when anyone has lost their investment dollars on any deal? Really? Imo, it is a shame, when the word "hilarious" is used when referring to investors "losing" dollars.
A smart CEO would have cut a deal with these former insiders, however that is another truth that investors are aware of , that bumfield is not the brilliant business savvy scion you seem to think he is but rather just another loser running from his own business failures and bankruptcies dragging his special needs a job kid with him.
*** A smart CEO leads by character and integrity, and "treats" ALL note holders on the EXACT SAME PLAYING FIELD. A non-prudent and deceitful CEO would take your advice, and cut a "DEAL" with greedy former "INSIDERS". Mr. Brumfield's actions spoke clearly as to how a PUBLIC CEO should conduct business with 17 note holders. It was the ex VP, the ex CEO, and the ex lab tech that caused the chapter 11. The public record states it clearly. I provided you with the legal and very public written truth on that topic.
Still there it is again, what did bumfield do to keep this from happening, nothing. The plan all along was to bring in someone with bankruptcy experience, someone who was a pro at losing. ole jeffy.
*** Mr. Brumfield was brought in, so that the technology and Dr. Poteet would get the investment dollars into the company to continue the effort to bring the products into the market place. The failure of the voted in politician's in Washington DC caused the Real Estate failure that took thousands of real estate companies down, as well as hundred's of thousands individuals.
By the way no one believes bumfield's lies in any form, especially his own press releases.
*** The last time I checked, I did not see the name of " no one" in an SEC filing of invested dollars. Mr. Brumfield has his believer's, and that too, is an undisputed public fact.
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