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Hagar1,

Firstly excellent post some great information gathered there.

I agree completely that there needs to be a lot more clarified on the "Icarus" group, considering we are in all sense giving them an asset for an upfront pittance and relying on a long term royalty. Also, considering Phil Thomas is advising their group, we would have to assume he would know how to get the best parts of company for as cheap a price as possible. ADY shareholders have to be worried as most companies wouldn't have their ex-CEO working for the opposition in an acquisition deal.

Apart from the deal, there has to be serious questions asked about where this group is procuring funds from and the fact ADY effectively has no control or recourse on non performance for four years. It quite frankly smacks of desperation from ADY's board, considering we being the owners are being offered a deal on unfavourable terms with massive risk.

I can't see how shareholders can vote for the deal with so much uncertainty.