Member Info for Spikeyj

DH990, problem is, you are mentioning financial facts & figures.

usually, posters on this bulletin board just use it to post insults
& accusations about other posters and their motivations, rather
than post about actual assets, cash flow, etc. of the underlying
company. - you are blowing their minds with proper numbers.

generally, investors in this company like a 'big man' story to
follow, rather than analysis of costs, profits and liabilities. the
preferred story normally goes along lines of: [AN-other rich man]
has bought share in this, therefore LTHs can't go wrong being
long because shurely rich men never buy shares that go down?

that timescale will make it interesting for the warrant holders.
clearly, they would very much prefer to exercise well north of
here, and there can be plenty of volatility here, so all other
things being equal it would be a bit daft to exercise them
too quickly. but if other market participants do start to see
that cash count-down clock ticking with only 7-8 weeks to
go before it goes kerbung (or has another tiny, discounted
placing to keep the nostrils above water) easy to see that
the warrants might quite quickly slip out of the money.

decisions, decisions.

stuy, i'm not fussed whether anonymous avatars on an
lse chat board choose to mock or not. why would i care?

time and again, it just demonstrates that rather than
discuss the actual assets, finances, BoD & corporate
history here, which is meant to be what a share chat
board is for, all the rampers can find to do is to try
to make personal comments about other posters.
that just shows the paucity of their arguments, imv.

i take the view that the folks who put their money
into adme did so as adults with their eyes open.
their money, their risk, on a small, extremely
speculative company gambling on the 'future
potential' of nigerian oil & gas in off-shore deeps.
this was never a widows and orphans stock, and
caveat emptor applies. i would feel fine if the LTHs
here made lots of money. but equally, i would not
care if they lose lots of money. other posters here
are not my friends & family, & not my responsibility.

my entertainment here does not come from watching
pis make or lose money. it's from watching the twists
& turns of all the attempted corporate shenanigans,
& sometimes from watching the odd price dynamics.

any competent adult who puts money into a tiny
speculative AIM stock dabbling in nigerian assets
should already be well aware it's a total gamble.

that's a million miles away from hard-working
adults doing careful, steady, responsible work
producing goods or services that benefit their
community, & earning fair recompense for that
honest labour. so i'm not that taken by the guff
about 'just trying to earn a better life for family'
that one sometimes sees on these AIM boards.

happy to chat more about aje, stefan/BoD, oil price,
ADME, finances, if you have anything to say about
that, but not interested in all the personal chatter.

jh, i do think this is headed to zero, but it remains
good fun to watch, particularly as they have such
history of producing sudden saviours at the last
minute who help them stave off administration,
'though never really fix the ongoing deficiencies of
a mediocre asset, ongoing high costs, & greedy BoD.

so previously they've produced GPDC, then dr hon &
'the chinese', then the sheikh. i wanna see what next!

E_AL, no need to be an 'expert'. DH990 is simply using
figures from the publicly available, audited results of
ADME, and some easy arithmetic. so if you think you have
spotted an error in his figures, just state the right numbers?

http://www.admenergyplc.com/pdfs/ADM-Energy-Plc-AnnualReport-2018.pdf

if the fees for those placing monies are *not*
already included in annual admin expenses,
then if those total fees for the £1.18million
are, say, £0.18m, then with a burn rate of
£135K/month ADME only has 7 weeks left
(unless someone gives them more cash.)

mcadder, none of the those bullet points
change the short-term *cash* issues that
DH990 noted. e.g. it's good for ADME that
the OML licence renewal was approved,
but that doesn't give them any additional
cash to meet liabilities over next few months.

do you think DH990 has missed out any extra
cash that is coming ADME's way soon, or that
DH990 has overlooked any specific cost-cutting?

DH990,

bear in mind that the £680,000 april placing money
and the £500,000 august placing money were both
given as *gross* amounts raised --> likely that *net*
amount from those two together more like £975K or
just under, as 20% fees would not be at all unusual).

(or are you reckoning that admin expenses include placing fees?)

... presumably, whoever they owe that grenada money to will become
progressively more likely to ask for that back if they think that adme
is on its way towards running out of cash. (bad to be last in the queue.)

a little last week.

"May 29, 2019 0 comment
Dear Shareholders,
We are pleased to up date shareholders on progress this year for the Company. We are aware as well that shareholders have asked for more frequent information so will publish a quarterly update moving forward. "

september now, so it's more than three months since
whetstone said they would publish quarterly updates.

still not even a single comment from whetstone
about britdaq throwing them off that platform.

i am not sure you understand the business model
for lse, knigelk. they make their money from the
advertisers, who pay them in proportion to the
number of visitors to their site who might view
the adverts - so just so long as people keep on
viewing the ctag board, it pays lse to keep it open.

obv i don't know what peel's average is,
nor what their strategy is. but market
makers are just like any other market
participants, i.e. they will always *want*
to sell at a profit, natch, but sometimes
they will not get it right & will choose
to cut their losses on a trade that has
not worked out for whatever reason.

market makers are like everyone else,
they just need to ensure that *overall*
they have more winners than losers...
60+%wins, 40-% losers, pretty decent.
52% winners, 48% losers, won't pay
their costs. .... <50% heading for P45.

(writing as an ex-market maker, long ago)

adrian, if you don't like my posts, you are very welcome
to filter me. in the meantime, i am simply posting about
the company, its shares and BoD, and related market
dynamics re financing and share price. i am not being
personally abusive to other posters here, nor am i
preventing others from discussing this company. to
the contrary, i would be very interested to hear from
a poster like mcadder what his evidence or rationale
is for his assertions about the company & its warrants.
(in other words, to have discussion about the company.)

as you will be aware, it is not a requirement for posters
on lse chat boards to own shares in the companies they
post about, nor is it a requirement to post optimistically.

why not try to explain what aspects of this company
make you believe that it represents good value now?

"....the sheik's sudden unexpected departure should imo rule him ineligible to exercise them..."

you've said this before. he was given his warrants for taking part
in a placing month ago. the placing went ahead. the company
duly received the placing money, & has not subsequently given it
back or done anything to reverse or cancel the placing. so why
would the sheikh become "ineligible" to exercise his warrants?

you are of course fully entitled to make whatever wild and hopeful
guesses you want, but do you have even the tiniest piece of evidence?

kentan 09:24:
"The RNS is utter bulls**t ...
Sheikh changed the name of the company to his initials ADM ..."

no he didn't. it was the BoD of MXO who chose to
change the company name to ADME, not the sheikh.
maktoum was never on the board, so never his decision
to make (even if he might have wanted them to do so).

...lots of shuffling going on to blame the sheikh
for the mess, but divert attention from the BoD.

are you trying to claim that no nomads ever
choose to end the relationship with their AIM
client? surely you know better than that, patch.
- sometimes it is the customer that dumps the
nomad, sometimes the nomad walks in disgust.
nomads are not obliged to stick with the client.

i don't know if adme will lose their nomad or not.
but there's a pretty nasty stink surrounding what
has happened with this company over last 1/2 year.

fca probably won't do much, it seldom does.

but there are fewer nomads around these
days than there used to be, so adme needs
to be careful that the current nomad does
not walk and leave them to get suspended.

i do understand why plenty of holders are pretty unhappy with
the sheikh's actions. but isn't there also a responsibility with
the **BoD** for the way that they represented to shareholders
and potential investors what the sheikh's involvement meant?

the RNSs were issued by the BoD and the company,
not by the sheikh himself. and it was the BoD that
decided to rename company to ADME, not the sheikh.
that gave a certain impression about the sheikh's role.

e.g. 28th june RNS:
"Richard Carter, Chairman of ADM Energy, stated: " [...]. In addition to the progress at Aje, the support received from the Private Office of His Highness Shaikh Ahmed Bin Dalmook Al Maktoum, and his subsequent appointment as President, will add considerable experience, enhanced networks and access to capital."
&
"The investment by this entity, which is the wholly owned private office of His Highness Shaikh Ahmed Bin Dalmook Al Maktoum, is a strategic investment in the Company. The Strategic Investor has a portfolio of privately held investments that focus on energy projects, LNG terminal development, commodity and oil trading as well as other industries. The Strategic Investor has the potential to add considerable value through the use of its knowledge, network, experience and access to capital.

As part of the agreement for this strategic stake, the Company has offered the Strategic Investor the right to appoint one person to the board of directors, subject to requisite regulatory approval and process. The intention is for the appointee to take over as Non-Executive Chairman of the Company. As announced on 11 June 2019, His Highness Shaikh Ahmed Bin Dalmook Al Maktoum has been appointed President of ADM Energy in a non-Board role. Specifically, it is intended by this role that His Highness will help leverage his network and bring new opportunities and contacts to the Company."

15th april RNS:
Stefan Oliver, the Company's CEO commented:
"I'm delighted to welcome an extremely influential and knowledgeable strategic investor into MX Oil who I believe can bring significant value and provide access to opportunities and partners who we would not be able to access without them".

yes, they've been clear throughout that he was not on the BoD.

(that's the point mcadder was finding it rather hard to grasp
over the b/h weekend, when he was arguing that the sheikh
would not be "entitled" to those warrants after he had resigned
from BoD .... but sheikh was *not* on BoD, & *still has warrants*.)

i presume that this RNS is meant as some partial response to
suggestions from folks like sharepops that the sheikh's share
sale might constitute some kind of insider dealing. adme RNS
is meant to imply that sheikh did not have inside information.

(me, i have no idea whether he was an insider or not when he sold.)

maketeanotwar,

thanks for your comments,
no offence intended, but i
simply don't believe you.

atb.