Member Info for Spikeyj

RobertSham 20th oct: “My short was £12.5 pp at 2.32p.”

RobertSham 24th nov: “… my short was 2.95p.”

good spot dan on his porky-pie about his short.
seems he doesn’t remember his own previous post.

but i think the bottom here will be suspension/zero, because of that
ongoing ferocious cashburn; aje asset will get sold off at firesale price
when adme no longer a going concern, and extremely unlikely imv that
there will be anything left for ordinary shareholders after other creditors
paid off. it will be a sad but deserved end to all the tall tales here over
the years since they renamed astar to turn it into a speculative oiler.

meanwhile, perhaps also worth noting that yesteday’s RNS refers only to
“potential development” of the barracuda field, not ‘the development of
the barracuda field.’ - perhaps tacit admission that nowt is happening there.

putting it another way;

ADME were meant to provide technical *and financial* support to the
barracuda development. - & DBI was meant to help provide funds for
ADME’s projects. - but it seems that DBI haven’t actually got the money
to do that. - and it seems that ADME are *very* seriously short of cash…

(hence, for example, that very recently heavily dilutive placing just to buy
an extra couple of months cash to pay BoD wages and keep the lights on.)

? so how on earth could ADME possibly provide
financial support to developing barracuda?

& how does that contrast with what ADME
claimed they could do, back in april 2021?

all very puzzling.

i note that ADME have never admitted that there ever
was any misrepresentation of (or by) DBI. so perhaps it is
consistent that ADME claims NNHL’s case is without merit?

i wonder what legal fees ADME will incur, & who will be paying them.

one wonders what is the nature of the alleged misrepresentation that
NNHL appear to be cross about, and how that might connect with an
alleged lack of funding. - potentially interesting to note ADME’s RNS to
market in may 2021 admitting how pathetic DBI are in reality, coming only
a few weeks after ADME had RNS’d completion of the barracuda transaction.

… i wonder if there’s some connection between people discovering the
truth about the DBI nonsense, and NNHL then disputing ownership?

i remember tresha.
sound, sensible, & polite.
(rare on AIM oiler boards.)

“They will use this money from raising to buy some [xxx] asset …”

no. the net amount raised from the placing would only really
be enough to pay the ‘admin expenses’ (BoD wages & expenses,
basically) for a couple of months. it was nowhere near enough to have
anything left over that could buy any kind of asset, even rubbish ones.

they will have to place again by end January latest, imv. - but i
think they will find it harder & harder to get anyone to play along.

i think that’s unlikely, as if it was a roll-over, then they are being
charged a rip-off differential by their broker between the two trade
rates. but fortunately we can agree to differ on our interpretations.

that would be a *very* different kind of risk profile to take on, compared
to just selling all the 20,000,000 ordinary shares when liquidity permits.

2.667 million shares dumped on friday at average 1.525, maybe they
hope another 3 or 4 days like that, plus some added volume on a bit
of panoro news, will let them exit somewhere between flat and 1.65.

hi dan, no, i think they will have problems doing it. … i think they’ve
made a bad punt that may well lose them money. but maybe they will
get away with it if enough new pis can somehow be suckered in soon.

but i think their motivation is just plain in and out flipping if poss, nothing
whatsoever to do with a genuine belief in underlying value for ADME. jmo.

rxdav: “I don’t see ‘lots of fear’ around…”

well, for example -
“Austria to go into full lockdown as Covid surges”
https://www.bbc.co.uk/news/world-europe-59343650

(as to whether that fear is justified or not, different matter.)

dan, if they can flip their 20,000,000 shares at 1.5p now, they are immediately
at breakeven on their punt, so zero risk, & could then sit on those warrants
for 20,000,000 shares at 3p as a totally free ride over next couple of years
(either as a long gamble, or to use as a backstop for some shorting games).

soz, i said i’d refrain from posting for a bit, my bad!

DanBrown83: “ … bulk of the raise was with
connected parties so won’t be much selling there”

the raise (i.e. for new money, rather than the debt conversion bit) was
for 31,666,667 shares new ordinary shares, plus those warrants at 3p
for an additional 20,000,000 shares given as a sweetener for monecor.

of those 31,666,667 shares, 20,000,000 are of them are for monecor.

so unless you think that monecor is somehow a connected party (?) then
no, the bulk of the raise was not with connected parties; roughly 2/3 of
the placing shares issued to raise new cash went to monecor, who will
almost certainly be trying to flip those 20,000,000 shares soon as they can.

(… but, of course, there’s a terrible lack of liquidity. so hessia,
whoever the heck they really are, don’t have much choice currently
other than to ‘hold firm’, since no-one sane would buy that big stake.)

not just financials, take at look at PoO, the oilers, BP/RDSB etc.
… lots of fear around concerning covid resurgent & lockdowns.

added, but smallish.

welcome back fp, nice to see you again, gl.

suspect 1.5p is more a ceiling than a floor, particularly given
whopping overhang of placing shares waiting to be dumped.

i think this company is headed to suspension / zero pence.

hope for your sake i’m wrong dan. good luck & atb.

think I’ll refrain from posting here
for a while, as show’s nearly over.

various other seriously rampy and unrealistic posts about ADME from
ginksy back in march. all there in his posting history for peeps to view.

company stooge, or just a stale placee hoping for a spike to get out?

ginksy, back on 31st march, when share price logged as 3.95p, you
were posting about osa claiming that barracuda was “the best deal he
ever made in the oil sector” (& that he was happy with DBI “credentials”!!)

.. and yet now you say, “We would be better off without
Barracuda anyhow” - wow, what a turn around from you.