Hi EMF:
You raise good points. No one should be offended. When a start up company is behind delivering the goods by almost a year and counting, how can you have no doubts?
About canceling contracts, I noticed that Adot's last PR stopped mentioning the 3 other contracts worth 2.57 millions. My guess is that you are right and they have been cancelled. Since the first customer names were not divulged anywhere, we cannot verify anything including the new 7 potential customers.
The only positive remarks about ADOT are:
1-Brad's visit verified new computer equipment were in place
2-Brad's visit verified new technicians were hired
3-ADOT hired the inventor of their patent
4-ADOT moved to a new location
I think the next good sign should be the hiring of a sales manager, or the new sales brochures are available for a shareholder to see, or the delivery of the first BB 5 months away.
I will be surprised if Les will sell his biggest asset, Biomoda, before the IPO. Les can get 10 times the amount he can sell the Biomoda shares now, but in the year 2000 (per GUY's timetable).
If you still want to get out, it is your choice. I suspect a very small pop
on the next news from Lung check result, unless we get National exposure from TV, WSJ, BW or Barron's.
I suspect a much bigger pop after the test is done back east in a couple of months. Also, once the lung check results are announced you have to expect that Biomoda will need 9 to 10 million dollars every year. That means, some financing from somewhere soon that will cause a pop in Biomoda's value, thus ADOT.
Hope this helps, either way you decide.
Take Care
Fred |
