I had a few aha moments from the presentation and questions...

I had a few aha moments from the presentation and questions yesterday at the AGM.

Firstly the idea that Mix&Go is a baseline product that needs tweeking to fit in with various companies tests, rather than a generic 'one size fit's all' product.

So this is why ADO have 12 scientists in their lab producing a tailor-made Mix&Go to work in different applications.

To me this means that not only the intellectual property is protected from the original recipe, but the customer is unlikely to change, once Mix&Go comes off patent, as to reproduce their particular blend might prove difficult and risky for the adopting company. It would also involve more testing and possible approvals....... so once hooked they will be unlikely to change unless the benefit is disruptive. Even then, as ADO has experienced, this market is risk averse.

So the intellectual property is protected for at least 20 years from the original patent in 2002, although the recipe has changed with more patents applied for since then, from my understanding. This looks like a long income stream to me.

The second AHA moment, was around the comments from Mark Bouris (Chair), that he understood the problem was not with the product but with the sales. The thinking of targeting as small bunch (dozen) companies and 'going hard' rather than a scatter gun approach with many was refreshing to hear. The approach of going to the middle or the top rather than trying to go through all those levels when starting from the bottom........ Bravo!

He also talked about some need to create a better understanding within ADO around the psychology of change.
This seems to be a great strength of his to understand how to coach others into changing. In my work i tend to use the link below (hope it works) to understand where people are at. I have people struggling to return to stage 1, but I keep demonstrating 'need awareness'!!

(It's the first google link pdf)

The 7 Stages of Transformational Change
Coaching the “Journey” of Changing


Test results are all well and good with 1700% improvement, but the market only cares about the $ results. (looking at case study 1) Mark Bouris understands the need to crack on and pick the ones who can be lead into the 'new normal'.

The third aha moment for me was when pushed (thanks to the pushers) the CEO said that affy/ebio would start producing products with Mix&Go in them this quarter for sale. Which means we should see those royalties flowing and will kick the need for capital to maintain operations down the road. But they were very non-committal around earnings figures. Either they are bound by confidentiality or just don't know.

When will we see the money?

The consensus at the bar seemed to be in the 4C July 2013

All very frustrating.

The case studies, in my mind, was all about why the change processes didn't work in the target companies.

I agree with the chairs thinking of targeting particular companies and driving them through the change process to take on mix&go........They need their hand held and be actively coached towards taking on ADO's technology. They can't be trusted to follow instructions and will yearn to return to being 'blissfully unaware'.

Aside from that it was a pleasure to meet so many of you in the flesh and realise what a genuine and decent group you are; eyeball the board and see the commitment in their faces to avoid failure; and see the passion for results from the shareholders........ I think they heard the message load and clear!

Thanks for the beers ds....... when the amber cleared all that was left were empties........