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@ac123
This is the central question, not so easy to answer. In my opinion, at least certain key persons with the right technical knowledge and overview of former ADAM would be necessary.
The proximity to CERN with its bunker facilities might be necessary. Whether a complete relocation to Daresbury is feasible would require analysis. However, to make a final judgment, these persons would need to be available.
Establishing a new company, ADAMx, would not be a problem in Switzerland. It could then start anew, debt-free. It wouldn't be the first company to do so.
But was the BoD far-sighted enough in the past, and are they capable of shouldering this?
ADAM I am certain has not been liquidated. Please can you provide proof.
If ADAM ceased to exist I am pretty certain AVO would now be in administration. In the present climate if anyone is involved in significant fundraising deals they are taking an extraordinarily long time to complete, if there was no hope the AVO BoD could get this over the line they would be immediately put into administration.
An RNS which - as someone pointed out below - is pretty much a copy-and-paste of earlier RNS's.
However, the RNS of 02 Jan did state in addition that Swiss subsidiary ADAM had been granted a reprieve from creditors until 20 Mar 24. The Swiss link below (IWant, 10:24) indicates that this time limit is up, and that ADAM has been liquidated.
Is anyone clear on whether AVO actually has a functioning future if it no longer owns ADAM?
Probably Followed by penalties......and as such it's pretty much lottery, win or bust.....
Looks like we are going into extra time!
All over now, baby blue:
https://www.gov.uk/employment-tribunal-decisions?keywords=oncotherapy
And until now, no word from the BoD
Incompetent:
https://shab.ch/#!/search/publications/detail/62c56509-42d5-452d-898c-5a85a16fb927
‘’Are they just incompetent or evil?’’
‘’Well, at the end of the day, it doesn’t really matter’’
Bates vs Post Office
Two days to go. AVO readying the same RNS as in the last two months to express its surprise at another month’s “delay”. Or can they pull an Easter Bunny out of the hat?
DonkeyOatey - message noted, reply sent a few days back. Any joy?
I hope we're not tilting at windmills ...
Come on AVO. Time to put up or shut up.
I'm not a royalist, but I've always admired a certain you-know-who for her quiet dignity. She - and Britain - deserve better.
Sort out your funding and get the cancer treatment technology out there. Or liquidate, sell the patents, and let others complete the task sooner rather than later. We, the shareholders, may lose out. But at least those with this dreadful disease may reap the benefit.
They, and we, have waited too long. It's time to wrap this up.
Thank you for your informative reply. I knew we were not involved as we had not been rns'd but was fishing for an explanation. Thank you for your knowledgeable insight
Basil,
Electron beam therapy and proton beam therapy are distinct modalities used in radiation treatment. Proton beam therapy is particularly known for utilizing the Bragg Peak effect, which allows for maximum energy delivery at a controlled depth, minimizing damage to surrounding tissues. Just Google.
FLASH (Fast Linear Accelerator System for Hadrons) therapy is an innovative approach that delivers an ultra-high dose of radiation in a single pulse. This technique can be applied using both electrons and protons, and is designed to maximize the therapeutic effect while minimizing damage to healthy tissue. The LIGHT system developed by AVO is an example of technology that can deliver FLASH therapy.
A LINAC refers to a Linear Accelerator, which is used to accelerate particles along a straight path, as opposed to circular accelerators like cyclotrons or synchrotrons. LINACs are versatile and can be used to accelerate various types of particles, including electrons and protons. AVO's innovation lies in adapting LINAC technology for proton therapy, which offers several benefits. These include the ability to rapidly adjust beam energies without loss of intensity, which is crucial for targeting tumors at varying depths with precision. Moreover, linear accelerators for protons can be more cost-effective compared to traditional circular accelerators.
So, the CHUV plan is technically not comparable with what AVO has in the pipeline. But if AVO would be able to deliver, I'm sure the CHUV would think about to use this much better technology.
Lost chance.
CERN, CHUV AND THERYQ JOIN FORCES FOR A
WORLD FIRST IN CANCER RADIOTHERAPY
CERN, the Lausanne University Hospital (CHUV) in Switzerland,
and THERYQ (ALCEN Group, France) signed an agreement
for the world-first development of a revolutionary FLASH
radiotherapy device that will use very high energy electron
(VHEE) radiation to treat cancers resistant to conventional
treatments.
The device will include a compact linear accelerator based on
CERN technology, and will use very high-energy electron beams
of 100 to 200 MeV, allowing cancers up to a depth of 20 cm to
be treated using the FLASH technique. It has the potential to
decrease the overall cost of treatment, and its compactness will
allow it to be used in a hospital setting. It will be based at CHUV
and is expected to be operational within two years, with the first
clinical trials planned for 2025.
The moratorium on restructuring for A.D.A.M has now expired. We will see if the BoD did their job.
Er, what, Iwant? The directors will be all together at ADAM for a meeting?
Tomorrow, children, something will happen!
Tomorrow we will be ???!
What a delight, what a life
There will be in our office!
Very interesting what you said about shareholder activism, would you like to send me a Google email using my username and adding the current four digit year before the squiggly A symbol? It would be very good for some of us to see if we can get together the necessary 5% to call a meeting.
Hi guys been away on holiday and missed the conversation regarding machine and treatment room.
I can confirm from the presentation at Daresbury which I attended, they had a fully operational machine that they were constantly testing for different measurements and readings.
The treatment room does have the robotic chair in situ but the room itself was far from patient ready, to be honest thinking back it seemed lacking in preparation for the the installation. A comparison would be when you have started decorating the lounge with everything stripped back and the wife walks in with a new expensive light fitting and she says can you put that up to see what it looks like, loves it and won't let you take it down or if I put it up it ain't coming back down.
Sorry second quote is from 29 February 2024.
The date of that "last major investment of 80 million" RNS is also worth noting - 23 October 2023, some four and a half months ago.
Then on 9 Jan 2024 they posted:
"As part of the envisaged transaction (the "Financing Transaction"), inter alia, it is also expected that the Company would be required to restructure its financial liabilities with a view to providing a long-term financing solution for the Company to continue as a going concern. The Financing Transaction would also be subject to, amongst other things, approval by shareholders of the Company and consent from certain other stakeholders of the Company."
Then on 9 Jan 2024 they posted:
" Discussions with the Investor on the Proposed Financing Transaction have, since 1 February 2024, continued to make progress and the Investor has re-confirmed their continued commitment to the Proposed Financing Transaction. However there have been further delays encountered with the Proposed Financing Transaction and the initial tranche of funding has, as at the date of this announcement, not been received."
The real giveaway that this finance is nowhere near is: "The Financing Transaction would also be subject to, amongst other things, approval by shareholders of the Company and consent from certain other stakeholders of the Company."
This is basically a rehash of the recapitalisation and funding plan announced on 17 July 2023.
"The last major investment of 80 million"
Iwant, I suggest that you read the RNS a little more carefully.
The points to note are "non-binding" and "envisaged".
Hence they do not have an $80m loan, they merely hopeful of getting one.
"The Company has recently signed a non-binding term sheet with a third-party (the "Investor"). Under this envisaged transaction (the "Financing Transaction"), the Investor is expected to provide funding of up to c.$80 million which is intended to meet the Company's cashflow requirements through to the European certification of the LIGHT System."
There are certainly former employees of AVO and ADAM here who know exactly what is going on.
The last major investment of 80 million until the breakthrough is certainly not just for a few small cosmetic works. The last phase is always the most critical and always underestimated.
But that was no different with Medaustron, on the contrary.
I don't think there will be much news until the end of March, because that's when the question of ADAM's survival comes up. Perhaps the delay is even because of that.
In an RNS dated 18 Jan 2023 about future deliverables AVO said:
“Completion of building (for first patients in Daresbury) and approval for patient treatment in accordance with UHB guidance and requirements:
For patient use, the Daresbury site is required to comply with cancer treatment facilities, including planning and design. The Company and UHB have designed the building together in compliance with the relevant specifications. The Company requires the acceptance of the patient care space by UHB prior to use.”
The treatment room built so far is not yet adequate for UHB’s needs.
I'm a believer, then again I was a beleiver in Monitse and contactless payments and UKOG with the 'Gatwick Gusher' Not to mention NCYT and Avo.
I believe because I cannot see they will scupper the ship for a 'ha'porth of tar' The major shareholders know that sucess brings massive rewards, failure - NOTHING!