arloco---
This sentence that was made by the trustee sums up the issue of where common sense trumps "facts of law" in this chapter 7 case:
""However, a debtor may not obtain approval for extending secured credit unless it first establishes that it is otherwise unable to reasonably obtain unsecured credit, and the credit is necessary for continued operation.""
Pray tell,,,, how in the world does any public or private company "secure funding unsecured" ???
The above sentence, made by the trustee, is beyond understanding when you look at the risk factors of investing in penny stocks.
What difference does it really make when we are talking about Cdex Inc? After all, why did the trustee think that a company who has 11-12 years of straight in the red bottom line, going to go out and get credit or funding "WITHOUT" somehow securing that credit or funding? Wow, just how smart does one have to be to know that that ain't going to happen.
You are very well in tune with the past of Cdex. Mp dean through over $30,000,000 million dollars, to finally get to the brick wall in the road,,, where Dr. Poteet was through working for him, and investors where through funding him.
I will close with a most obvious point that is made on this board on a daily basis:
Most who post here, say the company and the tech is a fraud. So why the concern that very smart accredited investors want as much security as they can get, before they invest their hard earned dollars?????
What a revelation, investors who are willing to risk their money, want whatever assets they can get to protect their investment.
I think it is most remarkable that the Angel investors did not let Mp,Firmbach, and jr BK the company.
After all, according to most posters on this board, their is nothing at Cdex worth owning,,,, really?
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