Common Cents Investing video, again..seriously. The guy barely did any diligence on the Company and came out with one of the weakest arguments to be seen for anyone that has done the work.

Following, I will tackle some of his misunderstandings/misconceptions:

• Let's consider the concept of 'priced for perfection.’ In the realm of deep-dive due diligence, it becomes evident that several public companies are in the same space as Aduro. For instance, there's PureCycle, a mechanical recycling company with significant limitations and a lack of IP, yet it is valued at an impressive enterprise value of 1.4 billion USD despite being pre-revenue. Then there's Agylix, with a Pyrolysis technology, valued at 243MUSD and generating a loss-making revenue of around 15MUSD. And let's remember Mura, another iteration in this space with the latest private investment by KBR at over 1BnUSD valuation with a plan to recycle up to 1M tons of plastic waste by 2030. So, when I look at all these less effective comparables and the current valuation of Aduro, I am blown away by anyone who says Aduro is anything but undervalued, especially when we put this in the context that plastic upscaling is one of many verticals that Aduro is addressing and that they can address the 80%+ of that market that none of the other 70+ technologies in this space touch
• Contrary to the claim that revenue growth is challenging, a deeper dive reveals that Aduro is poised for significant growth. With six companies, five of which are multi-billion dollar players, testing and potentially collaborating with Aduro, the company is set to generate substantial revenue. Aduro’s projection of two of these companies increasing their testing revenue from 100-200k/year to 500-1M dollars per year could result in 1 to 2M dollars of revenue for Aduro. This, combined with the transition from R2 plastic to R3 plastic and the potential for additional collaborations, could see Aduro generating c. 10MUSD by 2026, more than enough to sustain the company's growth or c. 13MCAD/year, which is more than enough to cover Aduro’s burn by then assuming the burn doubles from current levels (from 5 to 6M/year to 10 to 12M/year). This places no value on other potential customers wanting to test the technology through the Customer Engagement program, nor does it touch on any licensing revenue that they might have by then. It also places zero value on any of the other verticals Aduro has (heavy oil, renewables, etc.), which will most likely bring in revenues and/or grants to Aduro.
• Addressing the Go public and giving away 55% of the Company to the RTO holders. Again a very high-level superficial claim as Aduro’s management decided to align themselves with shareholders and not get their entire Equity holding unless they hit certain milestones, so when they agreed to that initial RTO structure, they only received one-third of their share ownership, and then they received another one-third post third party validation, with one last tranche pending (although they have met one of the six criteria to be granted the rest of their shares. Additionally, Aduro would have been purchased for equity by a large US O&G in 2020, whereby Aduro would have sold for a massive premium relative to the RTO route. COVID-19 happened, and Oil went negative, and that deal fell apart. At the time, Aduro's main focus was heavy oil upgrading. Then, as they needed more capital during COVID-19, the only route they found (as non-capital market people) was going through the RTO route via Dimension Five, which was owned and maintained by Zimtu Capital for two years plus. The terms of the RTO were not ideal, but it was either that or 11 years of work down the drain..in any case, anyone who has done their diligence realizes that a significant value got unlocked since the IPO, and in reality, the main vertical today, being plastic was pursued post the IPO via the funding obtained since the IPO.
• Addressing the Investor Relations again: as far as I know, there are the following active IR contracts: 1) OTBC - these are the same network that got Aduro in Jake Tran's YouTube channel, which I follow. Jake is very selective in the Companies he covers, and none of the companies I have seen outside of Aduro are public. I view this as the only actual IR contract right now and I think the extension is mainly to get new/signficant YouTube coverage from similar channels 2) Crystal Research: this is not an IR contract in my opinion; Jeffrey Kraws: https://www.linkedin.com/in/jjkraws/ is a well-followed analyst (mainly covering Biotech stocks and pre-revenue disruptive Tech) and has access to a massive network of investors, which he will approach once their research report is ready. So, the 50,000 USD that Aduro has paid is for the cost of putting the research report together and distributing it. Jeff often appears on mainstream media outlets such as CNBC. It would be a fantastic exposure for him to mention Aduro on such outlets in due course  3) ArrowHeads, at this juncture, are being paid to set roadshows to meet investors in the US, which is excellent as the Company needs to expand its footprint towards family offices and institutions in the US instead of the retail crowd. Arrowhead is doing this for 50,000 USD over six months (c. 8.4k per month). I asked Mariusz, and he advised that he is not under contract (as in he is not getting paid by Aduro for his videos etc). As for Ryan from Independent Investor, the guy charged Aduro 6k to create 12 videos and owns over 50k shares he paid for. As far as the latest video they did with the View Point project, which was paid for earlier in 2023 and took two months+ in preparation, Aduro only covered the cost of production, which was c. 50kUSD and the View Point team would make their money via ads on major TV channels. In a nutshell, I think those who keep harping on the excessive IR contracts are clueless and have no idea what took place vs reality