Replies to post #40250 on Cdex, Inc. (fka CDEX)

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UNITED STATES BANKRUPTCY COURT
Minute Entry
FOR THE DISTRICT OF ARIZONA
Matters:
JAMES M. MARLAR
Reporter / ECR: WESLEY STANGRET
Courtroom Clerk: CINDY TURNBULL
Bankruptcy Judge:
Date / Time / Room:
Case Number: 4:12-BK-02402-JMM Chapter: 11
Debtor: CDEX INC.
Hearing Information:
MONDAY, JULY 16, 2012 10:45 AM COURTROOM 329
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1) APPROVAL OF DEBTOR'S DISCLOSURE STATEMENT
R / M #: 70 / 0
2) EXPEDITED HEARING ON MOTION FOR ORDER ALLOWING DEBTOR TO UTILIZE FUNDS IN ESCROW
ACCOUNT FOR ORDINARY COURSE OF BUSINESS OPERATIONS FILED BY ERIC SPARKS OF ERIC
SLOCUM SPARKS PC ON BEHALF OF CDEX INC.
R / M #: 84 / 0
ERIC SLOCUM SPARKS, ATTORNEY FOR CDEX INC.
JAMES LEWIN, ATTY FOR NANCY WOLF, APPEARING BY PHONE
SARAH MOYED, ATTY FOR U. S. SEC, APPEARING BY PHONE
MARY O'HARA, SPECIAL COUNSEL FOR DEBTOR RE SEC ISSUES, APPEARING BY PHONE
JOSEPH MOTTA, ATTY PEMCO, LLC, APPEARING BY PHONE
THE DEBTOR'S PRINCIPALS ARE PRESENT IN THE COURTROOM
JEFF SKLAR, ATTY FOR GEMINI MASTER FUND, LTD.
JOE WATSON, ATTY FOR RYLES
LARRY WATSON, ATTY U. S. TRUSTEE, APPEARING BY PHONE
Appearances:
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UNITED STATES BANKRUPTCY COURT
Minute Entry
FOR THE DISTRICT OF ARIZONA
(continue)... 4:12-BK-02402-JMM MONDAY, JULY 16, 2012 10:45 AM
Proceedings:
ITEM 1: MR. SPARKS STATES HE HAS SPOKEN TO MR. LEWIN REGARDING THE TRUSTEE'S CONCERNS, AND HAS AGREED TO ADD
ADDITIONAL ITEMS AND AMEND THE DISCLOSURE STATEMENT. HE REQUESTS A CONTINUANCE.
COURT: IT SOUNDS LIKE THE DISCLOSURE STATEMENT CONCERNS HAVE BEEN WORKED OUT.
MR. WATSON STATES HE DOESN'T FEEL HIS OBJECTIONS ARE CENTRALIZED IN THE DISCLOSURE STATEMENT. HE FEELS THEY ARE
PLAN ISSUES.
COURT: THE CONFIRMATION HEARING WILL BE SET FOR AUGUST 24, 2012 AT 11:00 A.M. BY VIDEO.
MS. MOYED STATES SHE WROTE A LETTER WITH COMMENTS. SHE WILL NEED TO SEE THE CHANGES TO THE DISCLOSURE STATEMENT.
COURT: MR. SPARKS IS TO SUBMIT A REDLINED DISCLOSURE STATEMENT, AND IF IT MEETS THE DISCLOSURE STATEMENT CONCERNS,
A CONFIRMATION WILL BE SET FOR AUGUST 24, 2012 AT 11:00 A.M. (30 MIN.) MR. SPARKS IS TO WRAP UP EVERYTHING WITH THE
DISCLOSURE STATEMENT, AND HAVE THE ORDER TO THE COURT BY JULY 25, 2012 FOR SIGNATURE.
MR. WATSON STATES THE U. S. TRUSTEE HAS NO CONCERNS, OR OBJECTIONS. WILL THERE BE A DEADLINE FOR OBJECTIONS TO
CONFIRMATION?
COURT: GET RESPONSES IN THREE DAYS' PRIOR TO THE HEARING.
ITEM #2: MR. SPARKS EXPLAINS THE MOTION. THE DEBTOR HAS A NUMBER OF INQUIRES GOING ON AND ORDERS TO FILL IN THE
NEXT 60 DAYS. IT APPEARS THERE IS POSSIBLY ABOUT $700,000 IN NEW MONEY COMING IN FOR CONFIRMATION, AND HE WOULD LIKE
A COMFORT ORDER FOR MS. O'HARA.
COURT: CAN THE DEBTOR SURVIVE WITH WHAT IT HAS ON HAND UNTIL AUGUST 24TH?
MR. SPARKS STATES HE WILL HAVE TO DISCUSS THIS WITH HIS CLIENT. AFTER DISCUSSION, HE RESPONDS AND REPORTS THAT
AUGUST 24, 2012 AT 11:00 A.M. IS FINE FOR CONFIRMATION. HE WILL PREPARE DECLARATIONS.
COURT: THE MOTION TO ALLOW DEBTOR TO USE FUNDS IN THE ESCROW ACCOUNT WILL BE KEPT PENDING UNTIL CONFIRMATION.
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