ADO

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Yes, no-one has taken responsibility for past bad decisions and...

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19/11/17

10:29

Post #: 28926323
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Originally posted by benthree ↑

Those at AGM would have heard but perhaps not understood Studley's closing comments & implications and been unable to join the dots, as follows

1. accumulated losses for ADO from 2010 to 2017 , 8 years are circa $32.54m and will increase after 17/18 year ; implications being shareholders have empty pockets and Geoff Cumming has been CEO since 2009 - 2016 and director since 2016 - this financial disaster is largely his responsibility. Remember responsibility metric - CEO/management do and recomend to boards & boards oversight

2. CEO Cumming in 2012 AR stated positively ADO was well placed with $4.8m cash to last 21 months to March 2014 .The 30 September 2017 4C showed $6m cash which will certainly be much lower by 31 December 2017 release of 4C : implications being that cash position is similar to 2012, the runaway is very short and shareholders are financially exhausted therefor no lessons have been learned.

The above are facts drawn from annual reports .

Another fact, which is always ignored is multiple focus ex CEO Geoff Cumming still maintains with his role as Sienna Chairman ( from 2009 onwards ) and director role at Medical Australia ( also over same period ) - all whilst Anteo was moving to and then facing a financial disaster from which it almost failed to emerge.

You might care to check each companies annual report from 2009 to 2017 to determine what fees ex CEO geoff Cumming was paid annually and remember his role @ Anteo was full time to March 2016 when his responsibilities were removed by the board as a direct result of his DIA funding fiasco.
So during this Anteo paid employment he continued to take time for paid role of Chairman Sienna and Director Medical Aust - very nice extra earner if you can arrange it.

Shareholders need to wake up and do some elementary research of your own rather than rely on Trump like statements of false facts .
old proverb " if you always do as you have always done , you will always get what you always got ".

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Yes, no-one has taken responsibility for past bad decisions and failure to close many deals of the 90+ companies that were trialing mixngo.

Now we have 2 camps pointing fingers at one another through anon proxies on a forum!
Kids!

Both camps now need to work together for the future of the company.

Anyone know how much Polaris testing will cost? Not cheap i imagine. $$$ will disappear v.quickly.

Last edited by zentrify: 19/11/17

ADO Price at posting: 1.6¢ Sentiment: None Disclosure: Held
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