News: ADR Adherium Announces Non-Renounceable Rights Offer, page-7

Hi Jamwolf

Thanks for pulling me up on that and my apologies.

Outflows quoted were for AHZ which I was also looking at, not ADR.

They had $1.2m in cash at the end of Q1 and as you say had forecast $1.875m in outflows for Q2.

What's your view on the raise?

ADR is very tightly held and on the numbers above you'd expect the sp to be more like $0.005 than a couple of ticks below the raise price so it is still well supported. Given the need for the cash I am going to subscribe for my allotment plus extra given buying at a discount on market won't help with them improve their cash shortfall.

Thanks again for the correction