CRDM.OB is no longer valid. It has changed to CADM.OB

[ScottishTrader]

Just saw this fromone of he yahoo MBs -

Cardima Receives FDA Market Clearance for New Surgical Ablation System
http://biz.yahoo.com/iw/060525/0131292.html

Not sure if I've ever seen a bigger 1 day agin
and it closed at the HOD too - dunno if this bodes anything for tomorrow, but with over 18million shares traded today, I'm sure it will have some volatility tomorrow.  Good luck if anyone decides to go in on it.  From the long term chart I reckon it could have some resistance around .32, but it could also just keep on ripping

Crazy.

[D&Data]

This baby is flying again...
+32%

http://finance.yahoo.com/q?s=crdm.ob

[bohemian]

On no published news today (that I could locate), CRDM is up 4 cents from 0.06 to 0.10 in the past couple of hours.  It has risen from 4.5 cents to 6 over the past month or so.
I've been underwater on this since May or so when approval was announced and I bought in around 0.17... anyone out there have better insight?
GLTA

[for3J1M]

crdm moving!. i almost bought at .12 yesterday. i have never traded otcbb before, so i decided against it. i cant find any news! currently .18

well, i bought 2500 @ .182  at 11:24 a.m( going to play with a small amt. on my first otcbb trade)

[setravis]

Here is today's closing chart for you all.......
The Golden Cross is about to occur....

[ScottishTrader]

Can we say it loud and clear???  3 Magic Lines baby  Oh yeah!!!

Looks ready to rock and roll!!!!

Looks like this is what is causing th speculation:

n July 2006, the FDA granted a review of the scientific dispute underlying the FDA's refusal to approve our PMA for the REVELATION(R) Tx micro-catheter System. The review will be conducted by the FDA's Medical Devices Dispute Resolution Panel and is expected to take place in either the fourth quarter of this fiscal year or the first quarter of fiscal year 2007. Obtaining FDA approval in the United States of the REVELATION(R) Tx micro-catheter system for the treatment of AF remains one of our highest priorities.

[ScottishTrader]

However, it sound like they really sold thier soul to he devil in order to continue as a going concern.  The chart looks good, but at any point the market could be flooded with shares due to outstanding warrants from Apix.  Apix also appear to have controlling voting interest in the company. 

Dicey 

Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet


Item 2.03 Creation of a Direct Financial Obligation
On January 15, 2007, Cardima, Inc. (the "Company") entered into a new loan facility term sheet with Apix International Limited ("Apix" or the "Lender"), which provides for the roll-over of prior loan facilities and an additional loan facility between the parties (the "New Facility"). As previously disclosed, on August 26, 2005, Cardima entered into a $3,000,000 secured loan agreement with Apix (the "First Facility"). Subsequently, on February 14, 2006, the Company entered into a loan facility term sheet with Apix which provided for the roll-over of the First Facility and the grant of an additional loan facility in the amount of $660,000 (the "Second Facility"). Following completion of the Second Facility, Apix continued to make additional advances to Cardima (the "Further Advances")(the First Facility, Second Facility, and the Further Advances shall collectively be referred to as the "Prior Facilities"). Through December 14, 2006, the outstanding balance owing to Apix, including accrued interest, exceeds $9,000,000 (the "Outstanding Balance").

The New Facility provides for the following terms and conditions:

o Additional Loan Facility. Apix has granted Cardima an additional loan facility in the amount of $5,625,000. Advances pursuant to the additional facility shall be made on a bi-monthly basis in denominations of $225,000 per advance (the "New Draw Downs").

o New Maturity Date. The maturity date of the New Facility and Prior Facilities is the earlier of (i) December 31, 2007 or (ii) the date that Apix makes a demand for payment. o Interest Rate. The Outstanding Balance and the New Draw Downs shall bear interest at the rate of 10% per annum.

o Facility Fee adjustment. The aggregate facility fee for the Prior Facilities and the New Facility shall be $500,000 (the "Facility Fee").

o Exit Fees. The aggregate exit fees for the Prior Facilities and the New Facility shall be $2,800,000. In addition, for each New Draw Down, there shall be an additional exit fee of $80,000.

o Preferred Stock. In full and final satisfaction of the Facility Fee, and in consideration of waiving existing defaults and extending the maturity date of the outstanding loan amounts, Cardima shall issue five (5) million shares of preferred stock to Apix (the "Preferred Stock"). The Preferred Stock shall carry the following minimum preferences:

o 28 votes per share at any general or extraordinary meeting of the common shares of the company convened by the Company or its shareholders for a total of 140 million votes at any such meeting;

o Convertible into common shares of the Company at any time at the sole and absolute discretion of the holder on the basis of two (2) common shares for each preferred share tendered for conversion for a total of ten (10) million common shares in the event all preferred shares are tendered for conversion.

o Price Adjustment to Existing Warrant and New Warrants. Pursuant to the Prior Facilities, the Company agreed to issue to Apix warrants to purchase 118,800,000 shares of the Company's common stock at an exercise price of $0.06 per share (the "Existing Warrants"). Pursuant to the New Facility, the exercise price of the Existing Warrants has been adjusted to $0.04 per share. In addition, the Company has agreed to issue to Apix additional warrants at an exercise price of $0.03 per share, as follows (i) 20,000,000 warrants for making the Further Advances and entering into the New Facility, and (ii) 3,800,000 warrants for each New Draw Down. All warrants have a term of ten years.

o Conversion Price Adjustment. The Outstanding Balance, New Draw Downs, Interest, and Exit Fees are convertible into shares of the Company's common stock at a conversion price of $0.04 per share.

o Registration Rights. The Company agrees to register a percentage of the shares underlying the loan principal, facility fees, and warrants on a registration statement that is to be filed no later than March 15, 2007.

[pompano]

Been watching this one for a few weeks, but I don't like it that much due to the last similar run it had on much higher volume.  I know it's got the 3magic lines now, but it would be pretty tough to break through .25.  I think the chart is kind of suspect.

[ScottishTrader]

I know, the more I read the more it sounds like a typical penny stock scam - the rpice gets bid up on expectation of major news, while some big company has them over a barrel - news hits the wires, the stock pops and the financing company then unloads masses of shares into the rising volume - the only way they can get rid of them.  I mean they currently have warrants outstanding for more shares than the total outstanding stock in CRDM.  Unless Apix really belive that they can make a lot more as controlling holders of CRDM, they are going to unload into any rally to recoup their loans.

I really like the technical picture but there is just no way I would go near it considering the mess the company is in.  Ugh 

[setravis]

Changed Ticker Symbol

'CRDM.PK' is no longer valid. It has changed to CADM.OB