Ann: TGA Registration Update, page-454

Another great post captainblood. However, I temper my expectations with the history of this company's lack of success in ever closing a deal. There have been so many times over the last 12+ years I have been invested in ADO where it has appeared, or we were led to believe, that success was 'imminent'. But on every single occasion they fell at the last hurdle. Every single time. Yes, I'm aware that it was always someone elses fault.

To make matter worse for holders, they never ever explained what went wrong but continued as if nothing had happened. When shareholders call to enquire they receive a curt, 'no comment'. Do you remember Josh Soldo? He joined the company with great fanfare. Wonderboy. But he left and they didn't even bother to inform us but buried that information in the quarterly.

Am I a little paranoid? Could be I suppose, after years of apparently imminent success vaporising like an early morning mist. I'm intrigued at the sudden silence of Matt Sanderson. I also can't help but wonder if large holders are so abruptly dismissed as are we mere mortals. I wonder at the smackdown of last year's battery news by the board releasing the cap raise right on top of some market enthusiasm. Are we actually selling substantial numbers in Europe or are we being allowed to believe that only to be informed at a later date of another roadblock?

Shareholder communication is woeful and past experience leads me to the same conclusion over and over. The company hides their incompetence and failures behind 'commercial in confidence' agreements and plain failure to inform. My respect for this board continues to diminish.

But don't get me wrong. I am quite confident that eventually ADO will be successful but it won't be through the skills of management but through the tech developed by our scientists.