Replies to post #40222 on Cdex, Inc. (fka CDEX)

[Crow3]

PUTTING A BIT OF LIGHT ON WHAT

[Crow3]

Did cdex REALLY have 400K in assets? If so, GEMINI argues, as soon as the pledged money from the LUBBOCK PEMCO LLC bunch exceeded 400K that ALL of the company would be pledged as security to said bunch. As the only SECURED CREDITORS, in the case of CHAP 7, or foreclosure, they would get it ALL.

But under chap 7, the assets would have been divvied up and all of the unsecured creditors would get a wee slice when liquidated. GEMINI, the biggest creditor could get the biggest slice.

In practice, one must doubt that liquidation would come anywhere near 400K.

SO JUST A "PIPER" DREAM.

But anyhow, the COMPANY got some money from that "BUNCH" and all is hunky dory, right STREETIE??? LOL!!

[Amanita]

Say it again with meaning...

"Debtor’s Supplemental Reply
mischaracterizes the nature of a meeting ...."

The debtor lied.

[Amanita]

Oh no the bankruptcy wasn't planned, sure..

"Mr. Stewart simply requested that Gemini write off the debt. "

In other words to save his million or so he wanted everyone and I mean everyone to just write off their monies. That is why we won't see what the note holders were offered. LOAN TO OWN...