Four years after Medinex Systems Inc. went public in a splashy $21 million stock offering, separate offers have been made through U.S. Bankruptcy Court auctions to buy certain assets and its corporate shell for tiny fractions of that sum.


The Charles and Donna Weaver Trust has offered $225,000 for certain assets of the Internet-based, medical-services company, according to a motion filed earlier this month in Bankruptcy Court in Idaho. Donna Weaver was a former Medinex board member and one of the Post Falls companys most stalwart financial supporters over the years.


The assets that the Weaver trust has offered to buy include $106,000 in accounts receivable plus computer hardware and software, says John Munding, Medinexs Spokane-based bankruptcy attorney. As part of the transaction, the trusts $791,000 claim against Medinexs assets would be forgivenin essence, taking that claim out of the bankruptcy proceedings, Munding says.


Donna Weaver declined to comment on the transaction.


However, she and Colin Christie, Medinexs last CEO, are listed as the sole directors of a new company incorporated in Idaho on March 20, called MxSecure Inc., according to the Idaho Secretary of States office. MxSecure lists the same address in Post Falls as Medinexs last office, at 804 N. Lincoln.


MxSecure was the name of one of Medinexs primary products, a Web-based medical messaging program.


Separately, Focus Tech Investments Inc., of Houston, Texas, has offered to pay $52,500 for Medinexs corporate shell.


Munding, in court papers filed May 6, says the corporate shell had an intrinsic value to prospective companies looking to go public without incurring a substantial expense.


Medinex, formerly called Netivation.com Inc., previously owned several Internet businesses, and at one time employed as many as 180 people. Last November, Medinex employed just 11 people.