Questions for management?, page-19

There are so many question's to be answered right now, I'm not even sure where to start?

I have waited patiently through 5 years of "almost there" announcements regarding any number of deals, only to come out of that with a change of strategy, and on to the next thing?

Now I don't disagree that a change of strategy was needed, because clearly what we were doing was not working, but someone ultimately must be held accountable for the companies direction over the previous 5 years.

I have been refraining from posting on here because right now my confidence and trust with this company is at an all time low, and I am not the only one. I have recently been chatting with 5 other ADO shareholders, and every one of them totally agrees that there are just too many question's currently unanswered.

The wording in countless quarterly reports, announcements and briefings over the last 5 years had led me to believe that we were close to any number of large deals, but time and time again those big deals never materialized. Often these deals were passed off in a small paragraph or never mentioned again? I actually remember a time when there were over 100 companies actively assessing M&G, I mean what happened?

It was extremely disappointing to me, to get the NO from POC1. I understand that everyone was saying they expected it for the first device, but the cold hard fact is, we were only expecting it because the company had alluded to it for the last 6 months or so. It was talked about less and less in the Quarterlies and from what I have heard it was mentioned back at the site visits that there was a chance we may not be on V1, and that then filtered through to hotcopper etc.

The thing I don't like is that if you read through all of the info regarding POC1 over the years, imo you would be lead to believe that we had done so much good work for them, that there was almost no chance we were not going to be doing a deal with them. Yet we sat by wondering why we could not name them, while other "partners" were coming out as part of the project constantly.

No matter what anyone says, we put a large amount of effort into this deal, almost 5 years work, and in the end it seems to mean very little. I just think to myself, surely at some stage we had an indication as to how good our tech was, and if we were going to be used? Otherwise why spend so much time on it?

The BBI deal was the same. Yes they let us announce that we were working with them, and it drove the share price up, but what then? Shuffled back to the side a few months later.

Too many times over the years have potential deals with ADO, been like the last ever episode of the Soprano's, just a nice slow fade to black, only to leave you sitting there wondering if there is more to come.

So now we have moved onto different projects again, and we are getting more of the same wording that described the last 5 years worth of deals, what are we to think now? No wonder there are questions that people want answered.

Looking at the battery tech, it looks absolutely phenomenal, but because of the current lack of trust, I look at it and can't put a current value on it at all. Again as usual there are far too many question that need to be answered before any real value can be placed on it. Is it really as outstanding as it looks, or are we just another in a long line of research companies with our take on a better battery?

I think that more than a few investors have lost trust with the company over the last 12 months, and that is what is leading us to want to know more than we used to. I am no longer happy just to sit back and trust that thing's are ticking along nicely, because sometimes they are not. I actually want to know some details of what is happening, drill down on things, not just scratch the surface and move on. I don't care about names of companies and am happy with confidentiality, but we can clearly say what we are doing from our side without breaching that.

I stated that I was selling shares immediately after the announcement for capital preservation, well I have now bought most of those shares back this week, so I obviously still hold out a glimmer of hope that after a large number of redirection's, we may finally get somewhere.

I honestly believe that DIA puts a base value on the market cap of around 40-50 milllion, so basically ADO is valued at almost nothing right now. It is because of this I am willing to continue to give them a chance to finally prove the worth of the M&G technology. The only difference is, this time I will be fighting for more information from the company, and at least personally holding the directors accountable for the direction and success of the company.