Hi Guys, just thought I would give an update on my experiences...

Hi Guys, just thought I would give an update on my experiences from the AGM yesterday.
Firstly, due to that Airplane Company that has never "done IT", I was half hour late, but luckily didnt miss a great deal.
I arrived on about page 3 of the presentation.

I must say firstly, that CEO Geoff is an incredible speaker, who engages well with the audience and was able to get his message accross with great passion and enthusiasm, and had the shareholders present hanging on every word he said.
The whole presentation was done without notes except for the powerpoint.

This leads me to be confident that he is presenting our company extremely professionally and have no reason to doubt that he would be enthusiastically received by any company that he commences discussions with.

Where to start?

The following ramblings are derived from the presentation and from very lengthy and exciting conversations with Geoff, Joe Maeji (inventor) Nevin (Chief lab tech) and director Richard Martin for quite some time after the meeting, both individually and in the end as a group (as I was the last to leave)

My recollections are are from memory, and wordings or phrases may be slightly different, but have tried to be as accurate in my interpretations as possible.
I will sum up at the end as to my sudden understanding of the whole time delay issues and where we are at.

Probably the first thing that has been mentioned already is the increase from 14 to 47 potential customers in current negotiations.
Of worthy note is that not one company to date has evaluated our product and decided not to continue working with us.
All are actively engaged, and in Geoffs words all are all still "irons in the fire"

Geoff stated that they are hopeful of Mix N Go becoming the industry standard, and responses so far from industry certainly support their belief that this is possible, which would put us at the top end of his projections.

One of the exciting statements by Geoff was that ADO has achieved an almost unparalelled level of access to confidential and incredibly sensitive information due to the level of trust attained by him.
We are given access to the products and processes being worked on by these guys that may be finding a cure for cancer or other such world changing and company making products, so as we can improve their processes and hopefully speed up their time to market.

It was quoted that some of the products being worked on, and that we can become involved in, can be up to 5 years in the making from conception to market.

Geoffs comment was " We only need to get one of these big guys accross the line and the others will follow in quick succession.

We are dealing in some cases with Equipment suppliers, bead manufacturers and IVD suppliers on the same product, and each party doesnt know we are working at allstages of the product due to confidentiallity agreements.
This is exciting that we are involved at many different stages.

Mix N Go is a standard off the shelf Anteo product, which can be broadly used accross the whole industry, but if needed can be individually tailored to specific jobs if required.
The potential exists to increase the current levels of sensitivity from the 6 - 80 range as shown in the presentation to potentially increase that another 80 times more sensitive as the need arrises.

Why so long to get deals done?

Joe explained that many of the big companies have projects that are planned and last for many years.
When they are commencing the project they decide what systems they are going to use, and once tendered or orders placed, is virtually impossible to get them to change mid stream, so we need to be there at the start of a new project, not one week later.
Some require specific instruments and machinery, which in a few cases arent easily adaptable to Mix N Go
Hence, we are positioning ourselves to be there at the right time.

The other factor is that their are many many variables in tests and results, and each company has to be confident that the product will perform as required through all the different variables.

One such example was given (not related to us), that a company was working on a vaccine (I think aids was mentioned) and had spent years developing the product and had progressed to stage 3 trials only to find that it no longer worked.
They went back through all of the data, and found that they had been using afro american blood samples throughout the whole development and the results didnt work on caucasians at stage 3.

This is partly why we have been working with a smaller part of the market to get our systems and procedures as well as having the answers to tricky questions allready having been asked, investigated and replied to on a smaller and somewhat less urgent and financially important scale than the high volume incredibly expensive part of the market, where a mistake or delay may cause incredible damage to our brand.
Geoff explained that this had happened to us where a lab rat didnt read the instructions and wasted 2 weeks of work.

Probably the biggest time for me is the sudden understanding after 14 years of what this all means.

Following the conversations from the meeting, I have given myself the following explanation as to why and how our Mix N Go works in the market.

Imagine we are a revolutionary engine manufacturer.
This engine was so revolutionary it could easily replace all engines in the world from trains, cars, planes and boats with the one model.
This engine would be between 6 to 80 times fater than those currently being used (depending on the application)
Ie a plane would be 6 times faster, a Ferrari 20 times faster and a mini 80 times faster.

This new engine would use up to 75% less fuel to run and save a huge amount of time for the manufacturers to instal and overall be far more reliable, virtually never breaking down.

We started discussions with Repco to have them instal them when an engine died in a second hand car.
This allowed us to guage the ease and response to the replacemnt job, and confirmed our findings on small scale jobs.

We are now in discussion with General Motors, Ford, Mitsubishi and just about all others in the car field, as well as Boeing and airbus etc in the planes field plus trains, boats etc.

They are now testing our engine to see if it works while doing the shopping, when racing the car around Bathurst and everything in between.
Does it perform the same in wet weather, in hot conditions, in the fog, underwater etc.

Next they decide it will do the job on one car say a mini, they now need to see if they get the same performances out of their people mover, then the same out of the 4 x 4 then a truck.

The next problem is, they are currently in production of say a commodore, and arent able to change engines mid model due to existing contracts with current engine supplier, as well as the changes required to the production line, let alone brochures and training, so Holden are deciding to program it in for the next model change.

This engine is so revolutionary and economical that once Holden start buying it, Ford cannot ignore it, and must also put it in to their production as soon as possible, perhaps even bringing forward a model change to keep up.

One of the things that has been experienced is not reading the apperently very simple instructions.
One lab rat recently decided to put the engines in backwards and kept making the cars for 2 weeks until it was found at the drive away stage that they didnt work.
He then decided to make a bendy tailshaft that went out the front of the car and wind its way to the back.


2 weeks of production lost, and you cant throw the cars out.
The company has now engaged ADO with all 6 scientists (I think that was the number mentioned ) working flat out to remove the engines and reinstal correctly so as not to lose the rest of the car.

This process is so simple even Geoff said he could do it (his words) and this guys simply used the wrong stuff to mix with or something, showing how important it is to get the whole process right, training included.

The statement that if required, they could make the tests more sensitive (make the engines go faster) by another 80 times, means they could potentially get a mini to go 80 times faster than the 80 times faster we currently can make it go.
Makes the stars seem no so far away with claims like that.

I am more excited than I have ever been about the company, and think we are very very near to getting our engine into a Commodore really soon.

Hope my interpretations and ramblings helps you to understand where we are at and why it takes longer than expected.

I would really like to thank Geoff, Joe, Nevin and Richard for their generous time in helping me to understand and be even more confident in our product than ever.

A last comment as put to Geoff by another share holder.
How much do you hope the share price could achieve.

After appearing to consider whether to respond or not and how, his response was roughly - This is in no way relevant or predictive, rather the ramblings and hope (in the same way we all hope to win lotto)of a shareholder, that my initial hope was for 50c, that has now changed to $1.00
He stressed that this was just musings and not any kind of accurate figure, as it all depends on people putting pen to paper and us having the money in the bank, of which there is no certainty.

But these numbers would be relevant to the income potential in the presentation.

Watch for the Commodore signing, as I can now see why Geoff has previously publicly stated that he thinks the signing of agreements will become increasingly shorter between them.

Any day now IMO.


Cheers
Phil