ADO Analysis, page-21

Protect capital - that's a bit scary because the one situation you want to avoid is being invested in a company that needs to raise capital from the markets in order to survive !

We only have 12 months of cash and need those options to convert for another 12 months.

Without raising capital we don't exist. If the aust/global/chinese/US economies seriously tank, then companies become so risk averse that new deals are not signed(POC or batteries) and the stockmarkets are the same. Totally risk averse. CRs become very difficult and expensive. Consolidation guaranteed and a heavily discounted raise.

The markets are talking about the next recession within 2 years. And a big one. This unfortunately could be another reason for funds to limit investment in ADO. The deals and contracts written have to be good, solid, conservative, reasonable, attainable etc. before the funds will put there money into essentially a spec stock. Regardless of its future potential.

If my super was invested and I found the fund was investing in ADO before the revenue contracts were secured I would want to hang the fund manager up by his balls !

This environment would account for the lack of investment without revenues attached.