Replies to post #37724 on Cdex, Inc. (fka CDEX)

[d4diddy]

"But why would Gemini formally oppose CDEX getting the 1 million in the first place? Wouldn't ya think that they might have better prospects as well? along with the rest of us?"

Because Gemini is not a secured creditor and if CDEX defaults on the million dollar loan the senior lien holder will be first in line to gobble up all of CDEx's assets. Gemini and all other unsecured creditors will get nothing.

Shareholders are at the very back of the line.

[Crow3]

Actually, GEMINIs loan would be effectively XXed out. CDEX would pay them sumpin along ONLY if they felt like turning honest and doing the "right" thing. LOL!! Of course, assuming that the COURT
approves the new loan, and JB can deliver a bright new future!!

AND if the COURT approves whatever reorg plan that they come up with.

GOTTA tell you though that it is unlikely...and the court is much more apt, I firmly believe, to change it to a Chp 7.