Replies to post #38957 on Cdex, Inc. (fka CDEX)

[Crow3]

Quite simply, it is STILL wait and see. As it has been for over a decade.

ANY claim that the CREDITORS were enthusiastic for the plan, and that the cOURT DECISION was anything more than a PRO FORMA agreement is ridiculous.

[sea_urchin]

Crowe ... You saw it long before most of us. See your post 35047 from over a year ago.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=64529736

They've had lots of time to refine their technique.

Also ... remember the company's short-lived interest in oncology (now you see it, now you don't)?:

EXCLUSIVE DISTRIBUTION AGREEMENT

This Exclusive Distribution Agreement (this "Agreement") is made effective as of the 20th day of August, 2010, (the "Effective Date") by and between CDEX, Inc., a Nevada Corporation ("CDEX") and the signatories below (“Signatories”):

WHEREAS, CDEX owns chemical detection technologies and has developed products from these technologies for the validation of drugs and the detection of illicit substances, which it has marketed in several industries; and

WHEREAS, CDEX desires to develop products based on its technology for application in Oncology by raising a total of $1.5 million to fund technology and product development of such products; and

WHEREAS, certain Signatories (“Initial Signatories”)desire to establish an exclusive distribution network for products developed by CDEX for application in Oncology and are willing to provide initial funding of $280k towards the goal of $1.5 million, which will be met by additional funds from the Initial Signatories or by additional funds from additional Signatories (“Additional Signatories”).

NOW THEREFORE, CDEX and Signatories (each a “Party” and together the “Parties”) do hereby agree as follows:

1. EXCLUSIVE DISTRIBTION RELATIONSHIP

1.1. CDEX Grant of Exclusivity: CDEX hereby grants Signatories exclusive distribution rights within the United States ... etc

followed on June 15, '11 by this PR, reflecting the previous 8 months of the oncology agreement:

Second Quarter 2011 Financial Results
– Total revenues for the second quarter ended April 30, 2011 were approximately $96,000 a 47% increase compared to $65,000 for the second quarter of 2010. The $31,000 increase was primarily attributable to the oncology exclusive distribution agreement, ...

Kinda makes it sound as if they were selling something or other connected with oncology work/research/whatever, doesn't it.

And then oh dear the agreement was terminated just a couple of months later.

9. Deferred Revenue

During the fourth quarter of fiscal year 2010, the Company received approximately $483,000 under our Exclusive Distribution Agreement (“Agreement”) effective August 20, 2010, with a number of signatories including PEMCO, LLC and Messrs. Peter Maina, Thomas Payne (a former Director of the Company), Robert Stewart, and Scott Newby (“the “Signatories”). The Agreement grants exclusive United States distribution rights for all products developed by CDEX for application in the field of Oncology. The Agreement was terminated in the fourth quarter of 2011 and all of the then deferred revenue under the Agreement was recognized. 8,670,000 shares of restricted Common stock, valued at $433,500 were issued to terminate the agreement. The termination is reflected net of the remaining previously unrecognized deferred revenue of $364,833 in the statement of operations. The agreement was terminated to enable the unrestricted marketing of the new G4 ValiMed unit.

Read more: http://www.faqs.org/sec-filings/120201/CDEX-INC_10-K.A/R15.htm#ixzz2BtEsQDDU

I think it's fair to say a couple of things.

1. JB isn't clever enough to figger this out on his own; but he's had the invaluable help of his minion in chief, none other than our very own pennstreet.

2. They're perfectly comfortable sailing very close to the wind. After all, MP taught them how to fly under the radar and how to keep intelligent "investors" on his team.

imo, anyone who credits any of the cdex perps with an ounce of integrity and thinks their ship - or even just the dinghy - is ever going to come in is a foole.

Late in the city that never sleeps so all fer now.

[sea_urchin]

So maybe it IS another, new plan being figgered out. And therefore not anything the court has seen.

The assertion by JB was that important stuph would be happening by the end of the year. But he can claim the BK proceedings delayed things more than he and his team of pros realized and it'll now be St. Patrick's day before product income is realized from sales or leases (as opposed to freebee placements).

Maybe in the next PR he'll avoid nonspecific, grandiose, sweeping generalizations and just tell it like it is, item by item, from cuvettes on up, instead of serving up more hyperbole like "its leading edge products in the healthcare markets with the ValiMed G4 medication safety system and in the security market with its ID2 Meth Scanner and Pocket ID2 Meth Scanner." Leading edge products in TWO MARKETS, no less! W H O does he think buys that palaver!

Anyway, maybe this time he'll recognize that people are a lot smarter than he and his minions give them credit for.

One can hope.

If not, if it's just more of the same, plus ca change all over again.