Hello Folks,
The time has come for me to bid farewell. After reading the 10QSB last week it became painfully evident that ADOT will not deliver a BB for a very long time. In fact it appears they are still developing the prototype and have not even reached the production stage. It appears that ADOT did not receive a payment this past quarter from their alleged customer, wonder what happened?
I am glad to see that Les took my advice and may sell Biomoda shares in order to finance ADOT operations. I proposed this a few months ago on the thread knowing that Les reads it, good move Les, glad I could help. ADOT has two options for financing their operations, sell ADOT stock or sell Biomoda stock. Unfortunately they cannot generate substantial revenues to fund their operations and maybe never will.
I still cannot figure out how ADOT publicly stated that they would deliver the first BB in Jan/Feb of 1998. It is a year later and they appear to still be working on the Prototype, talk about misinformation. Some people may even put it in much stronger terms.
Many of you are probably very tired of my negative posts and just want me to go away, but before I do here are the reasons why this became so personal with me:
1-98 purchased 100,000 shares of ADOT based on imminent release of BB.
7-98 called ADOT and asked to speak with IR, they put Les on the phone. I introduced myself and explained that I was a shareholder and would like to ask some questions(I am a friendly person by nature, as some of you know through phone conversations with me). Les became confrontational immediately and said he would not answer any questions. He then asked what I would do with my 100,000 shares, I said if he does not give me any answers I will dump them at market. He then told me to type a list of questions and fax them to him and his lawyers would call me within the week. I faxed my list of 4 questions,
a) will ADOT deliver a BB by 12-1-98
b) does ADOT have first right of refusal for Biomoda scanners
c) what is ADOTs current ownership percentage of Biomoda
d) any new customers(just fishing on this one)
A week passed and I did not hear from his lawyers so I PMd Brad figuring he was a conduit to Les, and sure enough Les called 30 minutes later. He told me ADOT would absolutely deliver the first BB by 12-1-98, ADOT does have rights to produce scanners and current ownership was about 22%. He would not say anything about new customers which is understandable, even if he did have one.
10-27-98 Mark Lewis called my house and left a message with my wife. I returned the call the next day and left a message for Mark Lewis. 10 minutes later Les called me and rambled on about lawsuits and "all the F---ing morons that post on the internet". He informed me that ADOT had hired a private eye and gone after some guy from Arizona who apparently was posting negative comments on ADOT. Les then informed me that when they have money they are going after more posters. He never said they would go after me, but the implication was pretty obvious. The kicker is that he offered to buy me out at .10 a share(stock was trading at .07 that day), I said no and he kept pushing it. Les said he would have his lawyers draw up an offer sheet and send it to me. They must have been the same lawyers that were going to call me back before, they never sent the offer. It is my opinion that Les wanted me gone so bad that he called me with implied threats of lawsuits and when he figured that would not work he tried to buy me out.
This is the man that runs ADOT. Think long and hard folks before investing in ADOT or maintaining a position here. I sold my remaining shares yesterday after reading the extremely dismal 10QSB. I was going to hang on for awhile because of Biomoda, unfortunately the Biomoda shares may be squandered away at current values (which do not reflect the potential value) until ADOT can deliver a BB which could be a very, very long time.
I wish most of you well and hope your future investments turn out much better than this one.
Thomas A. Burke
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