A begfest is what a company attends does when accredited investors won't take meeting with you.
ADMD per their own SEC filing has stated that no one will finance them and they have received no interest of financing. In fact the only ones that previously would, wanted shares to secure it with, now they cannot even get those lenders. When a company has to pay to speak before a room filled with companies that may lend to exceptionally risky garbage companies like ADMD that have no revenues and none of their own IP without licensing..that is called a begfest. If you do a search of the "lenders" that attended the last one ADMD spoke at the majority of those companies were highly, highly toxic investors. In fact they were some of the worst in the industry. Look that up, it is 100% accurate. What is not known is if they were given an offer but refused it due to the terms. I would presume that Cadwell wouldn't jeopardize his control and preferreds. in this economy where two teenagers can get million for just an idea, startups getting tens of millions based on a potential market that has zero market today, and companies that have been around as long as ADMD can get tens /hundreds of millions in financing...it tells other investors their is nothing here. If this company cannot obtain funding for a product that is game changing, in a industry that already exists, with someone with a pedigree of Cadwell that makes a very clear statement. I know if someone came to me and asked to invest some money in something and the majority of my competitors, colleagues, and other people I respect that also lend money wouldn't do it..I wouldn't either. In this market there are so many other things in which to invest in that offer a better return, more security, and have shown better time management as well as real exceptional effort.
-Actions speak louder than words. Read their last few Qs, no one wants in. Despite what anyone says. Their legally binding Sarbanes Oxley SEC filings tell the truth
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