Except for Cummings, who was at the head of the table when the Diasource deal went down. He is not at the head of the table anymore.
Right. And there's more on that. But why he is still on the Board is beyond me. But never mind.
If that issue (material results/cycling of the batteries) is resolved, the financials will take care of themselves and the governance is already out of the way because everybody is gone !
Not really. They can get an injection of funds from a Battery deal and still manage to psss it up against the wall, like they did with innumerable CRs.
Regarding the financials...they are spending the cash in bank on the last through of the dice. If cycling is not resolved there will be a CR and possible consolidation. We do know this DV.
Well how convincing are they about the wisdom of their choices? They don't make a case why we need to hire 2 staff. Their business model has been pretty much CR's spend wildly and hope for the best. A temporary period of austerity, and reversion back. This is what worries me.
A consolidation must precede another CR. It's bleeding obvious innit?
I KNOW I'm not telling you anything new there! (Half the time you guys feel patronised because you don't realise my underlying or express points.)
My point is the damage was done with the dilution. More importantly, there has been no serious accountability over how and why that occurred and continued to occur.
@bourbasted is IMO absolutely correct in that, if the Diasource purchase hadn't happened ADO would not exist.
But also arguably the whole company has been a series of errors, based on wishful thinking, and worse, potentially mismanagement and vanity projects. In here there has been very little curiosity about other ways of looking at what might have happened. The loyalty people like GC has commanded for so long has been IMO ridiculous. At least, at least, this is changing.
ADO Price at posting:
1.3¢ Sentiment: None Disclosure: Held
(20min delay)
