Respectfully disagree, they have stopped all work on everything until they have funding. Read the filing carefully. Read it in the eyes of what a banker would if ADMD came to see you for money.
They are on less than fumes. They are trying to liquidate a broken reactor that is now obsolete because the new ones are more efficient. The radio knife is newer and is also better than this machine. Not saying they can't sell this but it will be very difficult in the times when VC funding, and commercial lending are actually quite easy. Also from a lenders position it would make more sense for a company to come to you as a lender and ask for funds for a new one that can be deducted over a depreciating timeline, better financing terms on newer commercial equipment, with a longer work life on the back end. It is written plainly with the 2B shares overdrawn and promissory that after the RS they will take any and all toxic debt to keep the payroll going and back pay. Keep in mind they already had to pay the handful of employees in stock less than a year ago. That only works so well before employees and stakeholders alike want actual funds as well.
I have been hinting at this for a while waiting to see if anyone else would figure this out. A startup with a bunch of 30 year old millennials with a decent college education could get funding for this (and have for medical devices) from a VC with just a straight equity deal and a royalty back end, yet this company cannot get funded for a "cancer cure". Now that is something to think about.
I haven't screamed this much but it is really time to call this what it is. Scam. A "job" for Jim and his friends folks. Seriously, quarter after quarter, year after year, now after decade....this will not happen. This company is essentially "Magic Cab" The Uber like 2 or 3 years before Uber. Only the guys for Magic cab aren't executors and it failed. The guys from Uber are. I sincerely think Jim doesn't have what it takes to start OR scale anything at all. The history and actions speak louder than his wants or words. I also think Carlton is more than happy to get 10% of his money with shares as collateral until he collects. They guy is in his mid 70s. He has made his families legacy already, he has property as well. Soon the SEC will be looking at Jim again, it's common when a perennial loser like ADMD raises the AS and then has to RS in less than 2 years.
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