Member Info for Spikeyj

always appreciative of jatw’s posts, & more broadly the interesting
chat on this board … educational, and generally polite. a pleasant
contrast to the chatter on some of the junkier AIM-ish shares.

ginksy, i doubt very much that’s true. the traded volumes don’t support that,
volume has generally been pretty thin for a long time, and nor are there large
declared shorts. much more likely, about stale bulls trapped in from various
higher phases, including various placees in from significantly higher levels. jmv.

that’s strange, earlier i suggested contacting one of this company’s directors, &
copying in a financial journalist into the correspondence — but LSE admin seem
to have deleted that post. … i wonder why? … seems a pretty reasonable course
of action to suggest for shareholders who are struggling to get a response from
this company about a potentially worrying situation with little clarification being
provided to date by ADME itself. - feels a bit like someone wants topic squashed.

? you could try mailing lord bellingham at house of of lords office,
and copy in a financial journalist to encourage a little follow-up?

they are obliged to convene a general meeting soon, to try to get
authorisation to issue those warrants to monecor. ? that may provide
an opportunity to try to ask the BoD about what is happening here?

no wonder osa said in that interview that he didn’t think that
people should try to do their own research / look on the internet;
much easier for him if people don’t try to look under the bonnet.

lol, and i got to buy ‘em back at 1555, not 1625, thank you mr market!

as i suggested in october, conservative dividend rebasing, but also looks
like the market thinks takeover/breakup prospects here are receding.

one way or the other, ADME should try to provide some clarity.

poor AZN taking another pasting.

“The one thing that we can all be sure of in this [*******] is that there will be an investigation.”

not so sure of that myself really. this is AIM, & at the slimey end of AIM
where micro-cap oilers live. the usual outcome when things go horribly
wrong is simply that pis lose their money, and it is very seldom indeed
that anyone is actually investigated, found responsible or punished. jmo.

dan, if that’s the case, then potentially it’s an FCA matter re market abuse,
& LSE admin should be asked to remove these threads for the same reason.

agreed dan, difficult to work out what is actually going on, but something stinks.

if ADME are indeed acting properly & by the book, they should be coming out
with guns blazing to offer clear and transparent information about the situation.
as it stands, they have said almost nothing for ages about barracuda. red, red flag.

would suggest that shareholders may wish to consider contacting
both nomad and the aim regulator about these issues at this point.

even if ADME is disputing NNHL’s assertions, surely it needs
to be RNS’d to shareholders that a cease and desist notice of
this kind was issued, and how ADME is responding to this?

looks pretty damning, tbh.

why is this share still trading?

it’s a high risk share for many other reasons too dan.

it’s not just about their cash burn, but also about things such as their serial record
of incompetence, the broker they use, dreadful communication, grandiose promises
which consistently fail to materialise, lousy diligence on potential partners & funders
(e.g.sheikh & DBI) and awful investment choices (e.g. aje, marginal fields, barracuda).

my guess on the CPR; their consultants took an initial look at the data
that was already easily to hand; they then told ADME, (a) from our first
scoping of the stuff you sent us, we suspect the likely outcomes may be
somewhere in this broad range, & (b) in order to narrow that down, and
produce a report that would meet full CPR standards, we would need to
do X & Y, and that is likely to take Q time & cost you Z … so please let us
know (& of course send another cheque!) if you do want us to proceed?

taking into account expenses for the placing, at £200K per
month cashburn on ‘admin’, *this money runs out by by the
start of January*. they still have no other sources of income.

“The news on AJE [sic] is actually positive, if they can utilise the existing
infrastructure, then the CAPEX costs on Phase 2 are greatly reduced -“

the issues facing ADME going forward include credibility
& reputation. on past performance from ADME and osa,
personally speaking i don’t believe a word that they say.

the next placing will need to be a lot sooner than
that. this raise only brings in enough for about *two*
months of their ongoing ‘administrative expenses’.

presumably they are hoping that they can use news of a
panoro/petronor deal to market a larger raise by end dec.

ADME will fail as a going concern if they can’t raise again then.

the RNS is a bit slippery about the warrant numbers. it says
6.666,667 warrants, but actually each warrant is for 3 shares,
so in reality they are warrants over 20,000.000 ADME shares.

although placing price is superficially 1.5p, morecor is also getting
one 2 year warrant with exercise price 3p with every placing share…
so in terms of how much monecor really thought it was worth paying
for ADME shares; = 1.5p *minus* [fair value for a 2 year 3p warrant].

from the tone of the RNS, sounds rather like they are giving up on barracuda.
suspect that the initial findings from the CPR simply don’t support the idea
that they can develop it economically, though it remains a possibility that
they don’t have finished CPR yet because ADME has failed to pay for it. jmo.

https://www.thetimes.co.uk/article/astrazeneca-could-go-from-hero-to-villain-7xjstmtn7?shareToken=02069fec8255d14c905353258ba30cab