OTCQB:ADOM - Post by User
Post by
Treemoneyon Feb 02, 2021 8:33pm
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Post# 32454250
My bullish thesis
My bullish thesisTL;DR History:
2017 company IPOs - Without much of a leg to stand on as a start up it quickly drops below NASDAQ requirements and relists in the OTC venture market. Company operates without any real notable growth or direction over the years that follow. Company can't raise capital due to non-dilution rights within the 8M outstanding warrants. The company is essentially struggling to keep its nose above water with 10 pounds of bricks on its feet.
Queue 2020:
Reynolds James L. had stepped down as CEO to retire. September is a big month, the company picks up previous GreenPower Motor Company Inc.'s CEO from inception to 2019 - Phillip W. Oldridge. Mr. Oldridge led GreenPower from 0 revenue to year over year revenue doubling, from that legwork it continued into 2020 and pending the change in US government the stock (as with many others) soared.
With Mr. Oldridge at the helm, within 5 months the company has:
- Relieved itself of the non-dilution rights by replacing warrants with shares freeing up the company to raise capital.
- Set up a letter of intent for a merger with EVT - a vancouver based EV company operating in a similar industry with a brand in western Canada and California.
- Secured desperately required capital through a PIPE agreement to fund growth as well as the EVT merger.
- Get's listed as an approved dealership for New York City Clean Trucks Program setting up sales opportunities in New York.
The company with pipe financing will have a market cap @ current price around 65M - which is undervalued relative to others:
- Workhorse 2b
- GreenPower 800M
- Ayro 240M (after recent financing)
Competent leadership can make all the difference when it comes to getting a start up off the ground. It takes knowledge of how to secure financing and we've seen the fruits of Mr. Oldridge's experience shining through already.
GLTA!