ADO

4.76%

2.2¢ anteotech ltd

Ann: Appendix 3B-ADO.AX, page-53

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Sojourner

6,521 Posts.

1922

11/07/16

12:46

Post #: 18240124
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Originally posted by bellcurve ↑

Good on you Bourbasted for doing fine. You're a stronger poster than me Gunga Din because i'm not doing fine.

There is a good chance that ADO can survive and can thrive following the incorporation of Diasource.

I assume we'll know soon enough when ADO issues its activities and financial statements for the fiscal year ended June 30.

By my reckoning, in this report we should get a pretty reasonable idea about how the Diasource acquisition is performing, even though it's been only a half year in ADO's ownership.

It's possible that Diasource has pulled a rabbit from the hat and things are going swimmingly.

That said, i'm disturbed that ADO has seen fit to issue 500,000 notes convertible into 18.6 million shares.

Disturbed because i assume this money wasn't available from internal sources.

If the issue of convertible notes becomes a trend it will throttle the company, rendering my modest shareholding worthless. Actually, it's modest in the grand scheme of things, but for me it represents a fair chunk of my capital, already reduced substantially in value.

Sadly, ADO is dealing with Bergen: a New York-based vulture fund.

Sadly too that with all the hype over the three or more wasted years i've held equity in ADO, they've never pulled off a deal of substance for Mix 'n Go. Oh, the opportunity cost.

High hopes were held for the battery project, but that whole area is transmogrifying so rapidly that to imagine ADO is in the game is like fantasy.

I await the next substantial report from the company with interest and not a little trepidation.

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"That said, i'm disturbed that ADO has seen fit to issue 500,000 notes convertible into 18.6 million shares." - Bear in mind that the issue of this $0.5m USD of convertible notes were agreed to months ago back in March when they executed the agreement. The total confirmed commitment in March was $2m USD worth of convertible notes. $1.5m USD worth of notes on execution and $0.5m USD of convertible notes 120 days from then.

If you are only disturbed now, then you probably missed that detail when they told the market back in March.

ADO Price at posting: 3.9¢ Sentiment: Buy Disclosure: Held
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Ann: Appendix 3B-ADO.AX, page-53

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Ann: Appendix 3B-ADO.AX, page-53

Top Stories

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IGO kicks off earn-in copper drilling on-site Encounter's Yeneena play as it adopts new identity

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Red Hawk upgrades Blacksmith with DSO mineral resource at the Eagle Deposit

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Horizon firms up ore reserve for Boorara ahead of FY25 Q1 development decision

Monadelphous inks $200M contract with Woodside to help build Pluto LNG – but will it make Scarborough cheaper?

Nine's staff strike as Paris Olympic coverage begins

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