Adinotec

Adinotec AG is a German company associated with road-construction technology and headquartered in Munich, Bavaria. The company was established on 19 December 2004 in Griesheim under the name Neosino. Its original business concept centred on producing mineral nanoparticles for use in food supplements and cosmetics. The proposed technology involved mechanically reducing minerals to particles measuring roughly three to ten nanometres, with the expectation that smaller particles would improve absorption and product effectiveness. The scientific support for the claimed benefits proved insufficient, and the company subsequently abandoned its initial nanotechnology-focused direction. Adinotec then shifted toward polymer additives for civil engineering, particularly road construction and road refurbishment. Its principal offering became Perenium, a formulation used together with hydraulic binders to improve road sub-grades and stabilise road sub-bases. The product was initially associated with the nanoSTAB name and was manufactured through the subsidiary Poligate. Adinotec presented the technology as a way to reduce construction and refurbishment costs by improving the performance of treated soils and aggregate layers, although the available reference material does not provide independently verified figures for commercial adoption, project volume, or current sales. The company entered the public markets early in its development. With VEM Aktienbank, now known as DERO Bank, acting as broker, its shares began trading in the Entry Standard segment of the Frankfurt Stock Exchange on 4 January 2006. The company issued 1.35 million shares, which initially traded at €55.55 according to the cited historical material. The business reported revenue of €347,000 and a loss of €193,000 during the first half of 2005. In the first two quarters of 2006, revenue was reported at €900,000 while the loss increased to €800,000. These figures describe historical periods and should not be treated as current financial information. At an extraordinary stage in its corporate development, the annual general meeting approved a change of name from Neosino to Adinotec on 18 April 2008. In August 2009, management, with supervisory-board approval, announced a share-capital increase of up to €600,000 within the existing authorised capital. The plan included a cash capital increase of up to €200,000 through as many as 200,000 new shares offered at €10 per share, with subscription rights for eligible shareholders at a two-to-one ratio. Adinotec later encountered severe liquidity problems. The company filed for insolvency on 4 November 2015, citing inability to pay its debts. Insolvency proceedings commenced on 4 February 2016, with the company initially placed under self-administration. On 25 May 2016, creditors agreed to an insolvency plan requested by the court. The proceedings were formally terminated on 23 September 2016, after which the company was described in the reference material as debt-free and again possessing full legal capacity. The available sources do not establish Adinotec's current operating activities, ownership, website, product sales, or whether the company continues to market Perenium. Its historical identity is therefore best understood as a German road-construction materials and technology company that evolved from an unsuccessful or insufficiently substantiated nanotechnology concept, entered the Frankfurt market, and later underwent insolvency restructuring.

Adinotec was founded as Neosino on 19 December 2004 in Griesheim, Germany, with Edmund Krix as its founder and later chief executive. Its initial corporate purpose was the production of mineral nanoparticles for food supplements and cosmetics. The proposed process mechanically reduced minerals to particles of approximately three to ten nanometres, on the theory that the resulting materials would be more readily absorbed by the human body. The available account states that scientific confirmation of the claimed benefits was not forthcoming, prompting a strategic departure from the original nanotechnology programme. The company subsequently redirected its activity toward polymer additives for road construction. Its main technology used formulations containing latex and related derivatives in combination with hydraulic binders. The objective was to improve road sub-grades and stabilise sub-base layers during new construction and refurbishment. The product was initially marketed under the nanoSTAB name and was manufactured by the subsidiary Poligate. The later flagship brand, Perenium, was named after the Latin term associated with durability or long-lasting qualities. Adinotec positioned the road technology as capable of generating construction-cost savings, although the available material does not document the size of the customer base or the extent of deployment. Adinotec pursued a public-market financing strategy soon after its formation. VEM Aktienbank, subsequently known as DERO Bank, brokered the company's admission to the Entry Standard segment of the Frankfurt Stock Exchange, where trading began on 4 January 2006. Historical figures cited for the business show revenue of €347,000 and a loss of €193,000 in the first half of 2005. For the first two quarters of 2006, revenue was reported at €900,000 against a loss of €800,000. The company had issued 1.35 million shares, initially quoted at €55.55 according to the referenced account. On 18 April 2008, the annual general meeting approved changing the company name from Neosino to Adinotec. The renamed company continued to develop and promote its road-construction technology. On 28 August 2009, management, with the consent of the supervisory board, approved a share-capital increase of up to €600,000 under the authorised capital. The proposed transaction included up to €200,000 in cash capital through the issue of up to 200,000 new shares at a subscription price of €10 per share. Eligible shareholders were to receive subscription rights through VEM Bank AG at a two-to-one ratio. The company later suffered a liquidity crisis. On 4 November 2015, Adinotec filed for insolvency. A management transition occurred shortly beforehand: Edmund Krix left the chief executive role on 21 October 2015 and was replaced by Curt Alexander Papenberg. Insolvency proceedings formally opened on 4 February 2016, and the company was placed under self-administration. Creditors approved an insolvency plan on 25 May 2016 following a court request. The proceedings ended on 23 September 2016. The cited account describes the post-proceeding company as debt-free and restored to full legal capacity, but it does not provide enough current information to confirm the scale or continuity of operations after that date.

• 2016

  Insolvency proceedings concluded

  [1]Adinotecen.wikipedia.org

  After creditors approved an insolvency plan, proceedings were formally terminated on 23 September 2016.

• 2015

  Insolvency filing

  [1]Adinotecen.wikipedia.org

  Adinotec filed for insolvency on 4 November 2015 because of illiquidity.

• 2008

  Corporate name changed to Adinotec

  [1]Adinotecen.wikipedia.org

  The annual general meeting approved the change from Neosino to Adinotec on 18 April 2008.

• 2006

  Frankfurt listing

  [1]Adinotecen.wikipedia.org

  Shares began trading in the Entry Standard segment of the Frankfurt Stock Exchange on 4 January 2006.

• 2004

  Neosino is founded

  [1]Adinotecen.wikipedia.org

  The company was established on 19 December 2004 in Griesheim, Germany, initially operating under the name Neosino.

Road-construction technology focused on improving and stabilising soils and road bases through polymer formulations used with hydraulic binders, with cost reduction presented as a principal benefit.

• Road-construction additive

  Perenium

  Perenium was Adinotec's principal road-construction technology. It was used with hydraulic binders for sub-grade improvement and sub-base stabilisation in road building and refurbishment. The formulation incorporated polymer-related materials, including latex and derivatives. Adinotec presented the treatment as a method for improving road-layer performance while potentially reducing construction costs. The available sources do not establish current availability or commercial scale.

• Road-construction additive

  nanoSTAB

  nanoSTAB was an earlier product name associated with Adinotec's polymer-additive technology for road construction. It was manufactured through the subsidiary Poligate and represented the company's transition away from its original proposed food-supplement and cosmetics applications toward civil-engineering materials.

• Food-supplement and cosmetics ingredient

  Mineral nanoparticles

  The company's original concept involved mechanically grinding minerals into nanoparticles measuring approximately three to ten nanometres for use in food supplements and cosmetics. The intended benefit was improved absorption by the human body. The company abandoned this direction after the claimed effects lacked sufficient scientific corroboration in the historical account.

• 2015

  File for insolvencyStrategy

  Background

  The company faced an inability to pay its debts and reported liquidity problems.

  Action taken

  Adinotec filed for insolvency on 4 November 2015 and later entered proceedings under self-administration.

  Aftermath

  Creditors approved an insolvency plan in 2016, and the proceedings ended in September 2016.

  Source

• 2009

  Approve a share-capital increaseOther

  Background

  Management and the supervisory board authorised additional equity financing within the company's existing authorised capital.

  Action taken

  The plan provided for up to €600,000 of capital increase, including up to €200,000 through as many as 200,000 new shares priced at €10 each, with subscription rights for eligible shareholders.

  Aftermath

  The available source does not document the final amount subscribed or the longer-term effect on the company.

  Proposed share-capital increase. Up to EUR 600,000 authorised increase; up to EUR 200,000 cash component (28 August 2009)

  Source

• 2008

  Rename the company from Neosino to AdinotecStrategy

  Background

  The company had moved away from its original nanotechnology concept and was increasingly associated with road-construction materials.

  Action taken

  The annual general meeting approved the corporate name change to Adinotec on 18 April 2008.

  Aftermath

  The new name became the corporate identity used for the road-construction technology business.

  Source

• 2016

  Insolvency proceedings are terminated after approval of a plan[1]Adinotecen.wikipedia.org

  Bankruptcy

  Proceedings began in February 2016 under self-administration. Creditors approved an insolvency plan in May, and the proceedings were formally terminated on 23 September 2016.

• 2015

  Adinotec files for insolvency[1]Adinotecen.wikipedia.org

  Bankruptcy · Leadership change

  The company filed for insolvency on 4 November 2015 because of illiquidity. Chief executive Edmund Krix was replaced by Curt Alexander Papenberg on 21 October 2015.

• 2009

  Adinotec announces a share-capital increase[1]Adinotecen.wikipedia.org

  Other

  Management and the supervisory board approved a capital increase plan involving new shares and subscription rights for existing eligible shareholders.

• 2008

  Company changes its name to Adinotec[1]Adinotecen.wikipedia.org

  Other

  The annual general meeting approved the corporate name change from Neosino to Adinotec on 18 April 2008.

• 2006

  Neosino begins trading on the Frankfurt Stock Exchange Entry Standard[1]Adinotecen.wikipedia.org

  Other

  The company formerly known as Neosino was listed in the Entry Standard segment of the Frankfurt Stock Exchange on 4 January 2006, following arrangements brokered by VEM Aktienbank.

1. 1Adinotecen.wikipedia.org