Hospital purchasing is a very conservative process. If you look at the sorts of questionable arrangements between commercial pathologists and medical practitioners in the form of kickbacks, or other inducements, you can see that cosy arrangements exist that aren't easily disturbed. That has to be the case for 3) big pharma or just big manufacturers who always want to crush the little guy.
Also in politics responses are to pressures, not problems. So who applies pressures and how is a very interesting proposition.
1) Nothing wrong with ADO's product, demonstrably so.
2) ADO's risk management left a lot to be desired however, in terms of recogning the reality of cosy arrangements. We had a scattergun approach, then we cosied up and apparently gave a lot of information away.
(GC became extremely defensive, hostile even when I raised the latter as an issue).
Some of it has been just plain old bad luck, with a company being taken over and stalling arrangements with ADO as a result.
But we should have been alert a lot sooner to the risks, and been more strategic instead of issuing more shares like confetti. IMO.
ADO Price at posting:
1.8¢ Sentiment: Buy Disclosure: Held
(20min delay)