Anteo has been a bad stock for the last 9 years (~ the amount of time I've been invested, not sure about previous). It had a nice run once and then slowly settled back to the low sp we see today. There have been some highs and lows with a lot of non-delivery on big potential. Some of you may agree, this is what a speccy stock is, but still, no excuses, all of us who have invested and remained invested have been disappointed time and again on promises of big deals, and not just one, many.
Previous leadership was able to progress the business from an unknown entity to trialing with some of the biggest bio-techs in the world. That said, very little has come to fruition with regards to big revenue.
The purchase of DIASource was by most accounts a disaster. I agree with much of this, however I am convinced had we not done that purchase when we did, Anteo would not currently exist. Good or bad, that's my take on that. I'm very happy they are no longer involved with us, as I don't think it was ever a true partnership. It could have been handled 100+ different ways to get a better outcome, but it wasn't.
The previous BOD had some major issues, and in some cases I believe were not acting on behalf of the shareholder and in some cases perhaps operating in very shady ways (if not illegal). In other cases, I believe leadership may have been doing their best for the shareholder, but were out of their collective depth and did not know how to progress. They simply didn't know how to convert the technology into revenue. In their defense, it isn't easy, but that's what they're paid to do, so to this point, they failed.
It's very easy to look back now and call out the failures of the past. That said, I remember enthusiasm from even the most vocal of current detractors along the way, and there were many (myself included).
So, those of you who know me through this forum or from meeting recently, are probably asking, 'why is bourbs all doom and gloom this morning?'. Simply put, I'm not. I'm in the mood I generally wake up in... hopeful.
Why? I've met the new leadership team and listened to what they are trying to achieve. I've reviewed the technology in batteries and believe it is good... really good. I'm not a battery scientist, but I'm in the resources industry and can see the potential in many different applications. I believe there is, dare I say it, potential.
Why is this time different? I'll let others pontificate on this. My simple thought is, short of some of the players in the game, the game ain't changed. This is about identifying why you exist, developing a value proposition for your core technology and getting someone to believe in it enough to buy it. That's not unique to ADO, that's pretty much every company.
One question I'd love to see ADO answer is why they exist.
- We know the what, it's the technology. The glue is there.
- The scientists in the business know the how. They know how to formulate to the nth degree.
- I question if we truly know the why yet.
If they can find that answer, the likelihood of transitioning from a flailing company to a revenue positive business with purpose increases exponentially. After meeting with the leadership at the road show, I believe they have an idea, but they need to articulate and cultivate that notion to get to the next level.
Again, I'm hopeful...
Have a nice Thursday, peeps, weekend is around the corner!
All IMHO, FWIW, DYOR, blah blah blah....
Expand
(20min delay)
