Adl31 Mar 2019 22:21
Now my opinion of adl, just my personal opinion of their business plan....
Go out and buy into expiring licenses (TOE, Badger, Bunga) of which are and never will go anywhere, raise a lot more money against them then that is required and buy into them, the owners are never going to say no as it’s miney for nothing. Example...
Raise £1 mill
Pay £300k for “asset”
Pocket £700k
Asset expires, company move into next. Asset owners pocket £300k, company £700k shareholders shatter, do this a few times then consolidate and start all over again.....
Just my theory and my not be true at all but does fit with the companies behaviour!
Colter the slight exception but look into everything else they have taken part in, look what they have raised against each asset and try and work out where all the money has gone.
Even with colter, apparently they should of had about £600k left prior to side track, they should have had enough for any sidetrack but they then choose to raise £1million against approx £200k needed?
Simon & co where is all the money gone???