GC sold quite a number of shares for around 15 cents, and exercised options (which may have been around 9 cents, but I am not certain of the latter figure, nor of the numbers of shares in each case). He used the funds to pay for the options, so tipping money into Anteo, while gaining a greater shareholding.
How is this a fine act?
He profited from the rise, and used none of his own money to buy the options.
FACT:
Hard working people have put their hard earned cash into ADO and lost it and he couldn't use any of his own money? To make a gain against the then SP anyway?
If I'm wrong on the precise amount, not 28c but 15c the fact remains that he bought without tipping his own cash in AND he sold on a profit.
FACT:
HOW MUCH was the guy being paid?
Hurrel meanwhile became Chairman in an absolute panic because of the removal/resignation of Bouris AND the fact that we were about to have an AGM. Like within days!
He was unexpectedly parachuted into the role.
Why you all bang on that Hurrell would be expected to bail out ADO with his own money when there was such a profound mess not of his making caused by earlier rainbows and unicorn decisions (inflating ADO's diagnostic prospects spending freely) is really weird.
The reality is you don't get a sudden change of terms/reversal by a financier at the late stages of a funding deal UNLESS something has been discovered at the final stage. Which is due diligence. This is well understood in the financial world I can't understand why any of you think it's paranoid conspiracy theory in here. It's how the financial world works.
Talk about conspiracy theories. Hurrell was scientific advisor to Ferghana Partners. That's the extent of it. He wasn't a financier. I bet he's glad to be rid of ADO. What a nightmare.
What's interesting is that people talk about defamation in here yet the accusations run thick and fast. Including from you.
The claims of going to ASIC over the AGM. What happened? Nothing! Because it simply wasn't illegal.
Nobody admitted to being wrong on that. If I get it wrong, I admit it. But not so much as a oh, yer..well maybe I shouldn't have been so indignant.
It never occurred to some of you guys that Hurrell and Studley basically righted the ship? Yet it's me with the paranoid theories. OK. You talk about defamation. OK.
The reality is that unless and until ADO ceases to look like a dud, nobody will be interested.
ADO Price at posting:
1.2¢ Sentiment: None Disclosure: Held
(20min delay)
