Member Info for Spikeyj

ginksy, as i suspect you already know perfectly well, the cashburn
here is upwards of £200K each & every month imo, going from their
own published figures in previous RNS. (goodness knows what legal
costs will be adding to that since barracuda issues have boiled over!)

they would have had near zero cash at the time of that last
placing, from my reading of the accounts. £475,000 was the
gross amount, i.e. *before* deducting costs and fees for the
fundraising. so net amount probably not much over £400,000.

with £200K+ cashburn a month, & *net* placing for c £420,000,
means they only raised enough to keep the company lights on,
& pay those excessive BoD pay & perks, **for about two months**
(because they have *nothing* else bringing cash onto their books,
since all the dwindling oil sale revenues from aje just disappear
straight into that gaping black hole of project level debt…)

and of course this doesn’t take into account any money that
adme would need to find to pay its share of costs for any future
development, drilling or deals. £200+ burn every month is just
the standstill costs to put money in the leccy meter week to week.

aimho.

(lol, what could possibly go wrong
in this best of all possible worlds?)

waiting for a 7xx.

added a bit this morning.

smaller = more nimble (if we’re lucky, lol).

pleasant day.

21:23, sounds really trustworthy, transparent, & good basis to invest..?

and nope, no-one except the insiders has any clue how deep that
project debt hole still is, because they’ve never, ever released any
concrete information about how much that debt is, & what kind of
rates & charges add to it. there may or may not be “discrepancies”,
but the market has never been told what the debt position is meant to
be in the first place, let alone what it might turn out to be after an “audit”.

? - bit hard to know how cheap or not something might
be, given the ongoing serious lack of info about things
like that - buying this rather like buying a pig in a poke?

meanwhile, sad times for ADME when a million shares fetch only 8 grand.

all the debate about potential asset values & asset ownership
misses the much more immediate existential threat, ADME
has b***** all cash, burns loads every month, and so is at very
serious risk of ceasing to be a going concern in pretty near future.

aimho.

gl all honest folks. (which narrows the field down a bit).

don’t forget monecor too, meant to
be a big holder, & very underwater.

(or frankly, anyone else currently long.)

(if someone wanted to take control to liquidate the company, would
make no sense not to fight for all possible assets before liquidating.)

evidence, ginksy?

ginksy, please could you explain why you think that align would not
themselves be able, and wanting, to “protect” adme’s “rights” to
barracuda in court, if they ousted osa & co? - align are long adme,
so why would they not want to fight to keep/prove a supposed
company asset? … i would be interested to hear your theory. tia.

? are you osa, or a relative? - i ask, because
you seem to be posting utter nonsense.

i’ve asked you before where there is any evidence at all
that there are significant short positions against adme, but
the most you’ve come up with so far is robertsham’s chatter.

?… do you have any other evidence that there are
significant shorts, rather than just a bunch of heavily
underwater longs worrying that the ship is going down?

ginksy, you seem to be implying that align are “shorters”.

that makes no sense, as align are very *long* here
(unless the RNS/TR1 history is completely wrong).

*if* ADME do have a good court case re barracuda, then they still have
that good case whether or not it’s osa, align, or someone else in charge.

https://www.thetimes.co.uk/article/informa-at-mercy-of-events-after-big-sale-8b05nnp6t?shareToken=a78623b50d75edab8ecd4e03b5f9ce3e

meanwhile, i note that over on twitter align have said they
are a *debt provider* to adme (as well as a large shareholder).
interesting, though not entirely surprising. i don’t recall adme
saying before who it was that was loaning them money (? tho’
possible of course i missed something previous about that?)

[hat tip]

for what it’s worth, someone claiming to be richie j from align has posted
over on advfn today, saying that align will make a full statement about the
situation at the weekend, and advising shareholders to ignore what he
describes as conjecture by third parties “with limited knowledge of matters”
in the meantime (and he particularly advises shareholders to ignore me).

hopefully, if align put out a statement, that may in turn
prompt ADME to put out a fuller statement of their own.

(obviously, i have to no way to know if that ADVFN poster really
is who he claims he is, but me, I believe he is who he says he is.)

? support resolutions #1-3, oppose #4, & shareholder
action group to propose a better candidate for CEO ?

(but unlikely to make difference, and imv probably better
to just exit any holding here while shares are still trading.)

? do align have any history of successfully managing
other companies such as a nigeria-focused AIM oiler??

seems a case of frying pan or fire.
…ADME doomed either way, imv.

re the legal dispute and court case:
(1) who got the company into this pickle in the first place?
(2) why weren’t the shareholders told about it long ago?