RE: SpikeyJ3 Jun 2020 22:15
27th april CEO bought only £15,000 shares at 2.4p... that is way *less
than one month’s pay packet* for him from ADME. he’s been around
for a while, but he hasn’t bought any other shares, according to RNSs.
--> token amount of shares bought from an excessive ongoing paycheck.
short term loans made in april ‘20 to keep company afloat until they
can get another placing away, repayable by nov 2020, at unspecified
rate of interest, with 8,333,333 million freebie 2.4p warrants attached.
newcomers to ADME should be aware, although ADME sells some oil
from the two wells it does have, none of that cash goes to ADME; it is
all still required to pay installments of the outstanding project level
debt. so ADME has no income stream which will help it drill new wells
as those deplete, or pay for that additional slice of aje, buy any new
assets, or make its contribution to an overall field development plan.
meanwhile, it continues to spend a heck of a lot on BoD renumeration.
the company has zilch cash, but it does have authorisation to issue
huge amounts of new shares... hence, the company seems to have
warmed up sharetalk, align and docH to get the ramp underway,
ready to offload all those placing shares coming to market soon,
(& maybe give those lenders a chance to dump some 2.4p warrants.)
jmv.
I’ll leave you to it now, bon chance.