Without even knowing the finer details, this is great news IMO. I have been wanting ADO to raise capital for some time now, and what better time than when the sp is @$0.16.
I would expect them to raise about $5 million at around $0.12-$0.13, this money would be used to advance smaller contracts and probably also to help with ADO releasing their own company branded products.
I have a truckload of these at an average in the $0.06s and I even managed to offload some @ $0.20, so from a long term holders perspective, I think this is brilliant!
If you had followed the company closely over the last few years, you would understand that not having enough cash to pursue all of the live leads has been a major drawback. This is the reason we don't have more contracts when 90 odd companies are testing.
I believe we started working with the smaller companies and devoted our resources there, but as larger companies became interested we shifted focus up the chain, until finally we were working with Phillips and Alere. Once this happened we devoted resources to these companies and the smaller ones fell by the wayside. This also explains the long time it has taken to get contracts over the line, its very hard when you have needed to constantly shift focus with a small number of resources.
IMO this money will open the door to a larger resource pool and a lot more contracts! ADO has around 90 companies testing and nowhere near that number of scientists, in fact I believe it is around 15? Maybe someone can elaborate on this?
Regardless, its onwards and upwards from here.......well after a day or two of trader selling, lol.
ADO Price at posting:
15.5¢ Sentiment: LT Buy Disclosure: Held
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