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I cling to the last shred of hope but I can’t help think that if anyone wanted to fund the company they’d have done it by now. Perhaps the investor is dragging it out until AVO gives up the ghost and then hopes to buy it out of administration. Meanwhile the bridging loan lender won’t lend anything until they’re confident of repayment - which rather defeats the object but who’d be confident when the equity raise has taken six months?
143 Harley Street - Light's last stand (on or off?)
As the saying goes it’s not over until the fat lady sings.
By tomorrow close either news, extension granted or securities cancelled.
There must be last minute negotiations as all parties so far would have expensed significant fees and at any time up to now if negotiations had failed the company would have had to announce administrators as they would instantly be insolvent.
typically the BOD are leave timing until the last minute.
If a deal is done I would hope a Nasdaq listing would follow and welcome removal from AIM. Still hope this disaster can turn around.
@meldrew44
30 Jun 2023 07:30
RNS Number : 5279E
ADVANCED ONCOTHERAPY PLC
At the request of the Company trading on AIM for the under-mentioned securities was temporarily suspended from 30/06/2023 7:30am, pending clarification of the Company's financial position.
@meldrew44
They have been suspended for some time and we are unable to trade. Is there a time limit on how long a share can be suspended before being deemed worthless?
https://aim-watch.com/project/trading-suspensions-overview/ Finally, when it comes to AIM, should the securities of any company be suspended for six months, the securities will be cancelled from trading unless an extension has been granted.
Perhaps we will be enlightened soon?
According to Hargreaves Lansdown, my AVO shares are now officially valueless.
It might help if they published last years Annual Report. They are nearly six months over the deadline, which can't help when you are trying to market the company to a new buyer or partner.
"As stipulated by Rule 19 of the AIM Rules for Companies the Company is required to publish its audited 2022 Annual Report by 30 June 2023. In light of the above the Company will now not be in a position to publish its 2022 Annual Report before 30 June 2023."
It's easy to imagine that if AVO had positive news to impart they would have done so by now. However, since it is the inept AVO BoD who are running the show, I wouldn't be surprised if an announcement isn't issued until just before 4:30pm on Friday. Just after the Bod realise they are obliged to issue one before the end of the day.
"when it comes to AIM, should the securities of any company be suspended for six months, the securities will be be cancelled from trading unless an extension has been granted." From https://aim-watch.com/
So I guess there'll have to be an announcement one way or the other before the end of the week.
Merry Christmas to all long-suffering AVO shareholders! It seems almost inconceivable that there remains any life in the old dog but we can hope for a miracle.
According to stockopedia, a full Year 2022 Advanced Oncotherapy PLC Earnings Release is due Tuesday, December 26th 2023. I doubt if it'll be before the 27th
Let's hope!!!
I believe we have to have an update next week either 27th, 28th or 29th December which could be the company seeking an extension as after 6 months of a share suspension the company could be delisted...unless an extension is granted.
Like many I remain optimistic that no news is good news and that clearly at this stage all parties involved in a financial re-structuring would have expensed significant legal and admin costs to this point.
Ever hopeful, Happy Christmas all and lets hope we can eventually celebrate with AVO and move into a prosperous New Year
Of an update before years end.
Gla.
It doesn't look good but not untypical of AVO's hapless BoD. They have a track record of poor management decisions going back many years.
I still hope for the best but have effectively removed them from my portfolio.
Yes, but you'd think the receivers would have been called in by now if there was no negotiating going on with a resolution in sight. Still could happen but last news was positive and I'm taking 'no news is good news' at the moment.
Does not present well on the cash front when things like this are happening?
I BELIEVE. DGAS..T for the other companies you mention. We have developed a market leading product. We have a 50 year lease on a double property in Harley Street, fully converted to accomodate LIGHT. We have a 10 mil market cap, so there is a definatley a deal to be done. Once we have found a company to take the reigns and another to actually make the machine on an industrial scale, we are off to the races. NO WAY ARE WE GOING TO BE LIQUIDATED!
Don't worry everyone - I really feel that Santa's on the way with this one. After the mining company being investigated for corruption, the biopharma company that went broke and the lithium miners who can't find lithium, this is the share that's going to turn the portfolio around. Keep believing
Dream on me thinks. I remember getting excited about Harley St being ‘nearly up and running’ back in the day and here we still are….
Surprised a big pharma player hasn’t taken this out, all the hard work and serious expense is done?
Then again it could be 20p by christmas but we would only have one share each, just saying 🤔
20p by which Christmas 🤣 can't see me doubling my money by this Christmas. Doesn't work like that on the AIM market, more likely to lose half of the money🙄
You obviously believe in Father Christmas! 🤣🤣😭😭
I think that we might not even be trading by Christmas but all the same I feel that, in this case, no news might be good news. I hope so. It's just a pity we've got such a hapless BoD.
Just to be trading again @2p by Christmas would be a start!!
First step-resumption of trading…
Then anything is a bonus.
Gla KITDH(kept in the dark holders).