Ann: Chairman's Address and Presentation to AGM, page-238

semiretired - some more facts to remind you why ADO is in this financial state ;

Cumming and Martin were CEO and CFO respectively from 2009 onwards and responsible for presenting the board with the DIA acquisition proposal and a workable transaction.
Each had other commitments , Cumming as chair of sienna and director of medical aust and Martin as director of First Cape & probably like cumming at sienna/med aust he was also paid a director fee.
We won't talk about conflict of interest or lack of focus at this point.

In December 2015 it became clear to both that the proposed financing would not eventuate because the financier lost trust in the ADO financial position, (probably related to revenue forecasts) and there was no plan B other than to tap s/h for larger contributions to capital raising. I certainly got a call to contribute more .
cumming/martin and FCM all underpaid their sub underwritng agreements and the DIA vendors were left to come to the party by providing vendor finance.

This has been documented, lodged with ASX and commented on by posters - its fact. The architects and implementers of this disastrous acquisition strategy were the executive , cumming and martin.
professionals always have a plan B. As no plan B, enter Bergen.

Every single action taken by ADO from March 2016 onwards was based on the implications of the DIA purchase contract and protection clauses that the vendors required to protect their asset and loan to ADO .

If you were selling your house to a buyer who told you at the last minute that they were short and needed you to partly fund their purchase of your house, what additional controls would you place in the contract - plenty im sure especially after you looked at their bank statement and realised that they actually had no income from employment ( read product revenue for ADO ) and dubious capacity to repay your loan to them.

Please check the facts via the ASX releases from December 2015 onwards .
DIA are not the bogey man and didnt cause ADO to fail - it was already at that point due to 7 years with cumming/martin running it and an ill executed transaction.

Unfortunately the truth hurts .