ADO (ASX) Gold Coast Investor Showcase June 2015

Originally posted by Eddie30 ↑

Brickwalls, I think you are being overly critical in your claim about straw grasping. If the Financial statements were presented in such a way that you could readily identify the various components of income returned by the company these problems would not arise.

The company's income comprises of Grants, sales of products, collaboration fees, subletting of office space and who knows what else. I have raised on this forum the fact that it is not possible to work out how ADO is actually going in the marketing of its various products and formulas. How can you tell if sales are in fact increasing and when they will reach a significant amount that will become a positive source of income.

Merely saying that scientists are being paid $80,000 and being charged out at a $100,000 does not mean that ADO is actually making money on the deal. It is a long established and accepted fact that base salaries incur about a 40% on cost to cover such things as LSL, Holiday pay, Sick leave rent electricity and other overheads. As not all of the work by scientists has been done at the collaborators establishment then some of these expenses will be incurred. Even if a lot of the work is done at the establishment of the collaborator then some of these overhead expenses will still be incurred.

The Financial reports as presented do not permit these various components to be readily identified, if at all.
Therefore it is prudent to ask questions to establish the true factual financial position of the company to determine if the investment by shareholders is worthwhile. This is what is called due diligence.

If the management of ADO had applied proper due diligence to some of their failed involvements we would not have been given so many false hopes of the company making deal arriving so many times. I think that we were perilously close five years ago and we have been given false hope after false hope and there is still no real indication if or when such a deal may eventuate.

All we continually hear is that everything is going well and that it is not our fault that a deal can't be signed off on. It is always someone else's fault or things completely beyond our control. Proper due diligence should have eliminated some of those false starts that led to nothing but frustration for shareholders who have been given false hopes by the promising statements made by the company that have not materialised.

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edie said:
If the Financial statements were presented in such a way that you could readily identify the various components of income returned by the company these problems would not arise.

Something you seem to be overlooking: confidentiality for commercial reasons. We don't want to indicate to future partners what revenue we are currently making from where, as this can limit future deals. This is standard practice.

False starts, delays can never be eliminated. What you are saying about due diligence is untrue, it is not a guarantee of future deals and I wonder how you got to believe it does. The commercial world is far more complex than you want to understand.

Please stop trying to bag out ADO management, it's embarassing to watch.

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Last 1.9¢		Change 0.000(0.00%)		Mkt cap ! $46.90M

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1.9¢	1.9¢	1.9¢	$23.42K	1.233M

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