is ado a buy ??, page-45

I can understand the angst felt by many shareholders about the long time it has taken to start to generate a significant income stream and increased share price when Company announcements led us to believe that this should have occurred more than two years ago. Accordingly I sent an Email to GC yesterday seeking specific details which may satisfy shareholders. A copy is set out hereunder and I advised GC that I would be posting it on this forum.

Geoff,

I am a long suffering shareholder of ADO and I am more than a little disappointed with the lack of real progress in the Commercialisation of the company’s product into the massive market which can beneficially employ it in their testing processes. Tests, according to your announcements, clearly demonstrate that by using ADO’s product costs can be significantly reduced whilst producing greater efficiency and accuracy in result.

As a result of your announcements we were expecting significant contracts to be signed 28 months ago. However, nothing has yet happened. In December last year you suggested that a signing could still be expected as the year was not yet over even though there were only a very few working days left. Once again we have been left lamenting because nothing has happened. Just as well we did not hold our breath.

We continually hear that there are numerous Companies testing our product and that not one of them have said no. Perhaps now is the time to let shareholders know what the exact position is in respect of all of the enquiries made and testing undertaken to confirm the efficacy of the product and the progress that has been made in respect of each initial enquiry or approach received by ADO. The information can and should be provided in a simple table format listing each of the steps from initial approach to the signing of the contract and the receipt of income from those contracts. There need be no breach of confidentiality as each of the columns in the table need only show the numbers at each stage of the process with no names or percentage of Royalties included until it is agreed that they can be released.

The provision of this information will at least enable shareholders to see what progress is being made as it is progressively updated. Therefore if ADO has received 88 initial contacts or approaches we can then readily see how many have progressed through the various stages/steps and how many are now at the stage of entering into contracts. Such a table will identify for both ADO and the Shareholders any stage in the process where delays or difficulties occur so that proper remedial action can be taken to overcome or remove these obstructions.

As I have previously stated, no breach of confidentiality need be involved through this disclosure in a table format as numbers and not names would need to be provided and that would alleviate Shareholder concerns about the lack of progress, particularly when announcements have clearly indicated that the expectations were that contracts should have been concluded long ago with a significant income stream being generated together with a large incremental increase in the value of the shares.

Hopefully GC will provide a response that will appease the restless Shareholders who, I feel, are justified in venting their frustration at the time it has taken for meaningful results to hit the financial statements and share price.