Getting rather bored with the line from the usual suspects who constantly parade the same tired old arguments about the failure of ADO and its management over the last 5 years. ADO was a total basket-case back in 2009, then under the stewardship of Jamie Henderson and cohorts. The capital raising at .06c (with a free attaching option exercisable at 1.2c) was when I first became involved, due in no small part to my awareness of the work GC had done with another, unlisted bio-tech, (Bio-Sceptre) prior to his joining ADO.
Naturally, I have traded my initial position on several occasions but suffice it to say, the stock owes me nothing and I still hold a significant stake.
I'm not big-noting, just setting out my circumstances.
I wanted to comment on the relentless selling, rather than the underlying fundamentals (on which, surprise, surprise,) I am still positive. It sticks out like dogs balls, to me at least, that the major shareholder has been responsible for the bulk of the selling, due to some sort of funding arrangement enabling the fund to participate in the most recent issue. Whilst this is my supposition only, it has been alluded to as well by other posters and today's announcement regarding placement stock finally being issued would seem to support this theory. Whatever, given the fact that a micro-cap like ADO managed to actually complete the acquisition in crap markets was a huge effort and all natural buyers would have presumably been sated at that time...to then have to cope with the unnaturally large selling on a daily basis has ground the SP down. Of course there has been disappointment with POC1, wrongly so in my view...after all, the results ADO were getting apparently exceeded Phillip's benchmarks, but tinkering with the protocols established by ADO quite likely altered the results achieved outside of ADO's labs...my guess only again but seems plausible.
GC, despite the cheap shots, has worked extremely hard for the company but it is a very tough sector and I have no doubt that he is leaving at the right time and the new bloke could and should have the requisite skills to maximise the groundwork established by GC.
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Last
2.7¢ |
Change
0.000(0.00%) |
Mkt cap ! $67.22M |
Open | High | Low | Value | Volume |
2.7¢ | 2.9¢ | 2.7¢ | $17.68K | 634.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 541015 | 2.7¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.9¢ | 4693635 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
6 | 537498 | 0.027 |
7 | 653551 | 0.026 |
13 | 1982099 | 0.025 |
7 | 2179250 | 0.024 |
4 | 1110217 | 0.023 |
Price($) | Vol. | No. |
---|---|---|
0.029 | 4693635 | 4 |
0.030 | 359200 | 3 |
0.031 | 75000 | 1 |
0.032 | 191382 | 2 |
0.034 | 428717 | 4 |
Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
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