Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Started: Hopester, 12 Jun 2024 11:49
Last post: Iwant, 18 Jun 2024 21:52
Provisional announcement of bankruptcy A.D.A.M. SA
Debtor
A.D.A.M. SA
CHE-114.005.079
Route du Nant-d'Avril 150
1217 Meyrin
Date when bankruptcy proceedings were opened: 05.06.2024
Can't seem to get the link to work, Iwant could you please just give us an idea of what it says? Even though I have a feeling I know already, thanks.
Https://shab.ch/#!/search/publications/detail/eb96c3c2-ae0c-461b-a1e2-8fb0474a8619
Gone !?!?
So sad to see this project falter on the home straight.
This technology could have been a game changer and God knows we need some revolutionary treatments in the ongoing battles against cancer.
My hope now is that someone with deep pockets picks this up and hurries it over the line. There are desperate people waiting for treatments like this.
It will be interesting to see if this technology can be brought into operation with a few expensive tweaks, or if there is some fundamental, insurmountable issue that has not been divulged to investors.
It's been an interesting but costly ride. Adios AVO!
Started: CuriousInvester6, 11 Jun 2024 07:32
Last post: 4theLongterm, 11 Jun 2024 10:27
Closing date for any offers 5pm tomorrow. What a shame that they couldn't get this over the line under the existing company structure, plenty of questions regarding company management but at the end of the day a potentially great opportunity missed. As an investor I was sold on the concept and the future benefits to patients as well as the financial potential, but that is now over. Good luck to anyone picking up the assets / IP.
I guess it is finally the end of the road
https://www.hilcovs.co.uk/sale-list/oncotherapy/
Farewell fellow shareholders clearly a casualty of the defunct AIM market.
Started: Iwant, 22 May 2024 05:45
Last post: Iwant, 22 May 2024 05:52
Compulsory strike off... Not company strike off.
autocorrection was too fast
Good news, perhaps still a chance. Today the company strike off has been suspended
Started: LittleMissInvest, 15 May 2024 11:21
Last post: Iwant, 21 May 2024 19:19
Broomtree, if you follow the link that I posted here on May 15, you will find a new PDF that mentions a two-month deadline.
Haven’t seen anything published but HL removed holding today saying doesn’t have a listing?
Not sure what the exact state of play is as the date I seen for possible finance was end of May?
AVO has been lying in a coffin since today and is waiting to be cremated on 21 July, unless a miracle happens before then and the BoD wakes up from its coma.
Compulsory strike off is likely due to not submitting accounts or other required documents. They need to submit these documents to prevent the strike off.
Started: PM44, 17 May 2024 14:44
Last post: PM44, 21 May 2024 16:37
Thanks Meldrew, I fear you are correct, cheers!
PM44
I believe that everything that happened while the shares were in our ISAs will have no impact on profits outside our ISAs. It's only what happens to the AVO shares now they're outside outside our ISAs that will have an impact on our investments outside our ISAs.
It's only my opinion, so I could be wrong.
Many thanks Kenj, I am a bit doubtful about survival but if it does survive it will be a bonus. My concern was that the loss was made within the isa and that, I believe is not allowed against profit elsewhere? But having been transferred to a share dealing account, I am now not sure of the rules. Cheers.
Thinking about this again, I am not 100% certain that this loss can be carried over to the dealing account. However, if HL have transferred the shares from your ISA to a share dealing account, then they have effectively transferred the loss as well. Unless this is clarified to the contrary, you have little to lose by submitting the loss. If it is wrong then HMRC can reject it. It is hardly a tax fraud.
PM44,
Yes, you can use the loss to reduce any capital gains you make in this tax year, once the company is officially listed as deceased by the HMRC. Don't jump the gun though. They have only been removed from AIM. They have not been declared insolvent yet. There is still a small chance that they could pull a rabbit out of the hat.
If you make no capital gains this year, the loss can be carried forward to offset gains made in future years. There is no limit on how many years the loss can be carried forward, but you will need to keep a record of any carried forward losses, as HMRC do not display this on next years tax submission.
Started: Stuinv, 15 May 2024 12:17
Last post: Iwant, 16 May 2024 12:09
And again, nothing from the BoD.
21 May 2024 First Gazette notice for compulsory strike-off
This document is being processed and will be available in 10 days.
Started: Iwant, 9 May 2024 08:06
Last post: kenj, 14 May 2024 17:59
"So if AVO take another year or two - or twenty - to get re-financed, shouldn't be a problem. "
Unfortunately there is a major problem; the company is almost about out of cash. They cannot survive much longer without new funding, and if their creditors call in the debt, insolvency beckons.
RNS 9th Jan
"As of 8 January 2024, the Company had negligible cash resources. The current liabilities of the Company include an estimated £28 million owed to trade and other unsecured creditors and £41 million[1] of financial debt."
And if black humour is any protection against serial disappointment, I might point out the following ...
The papers tell us it will take 685 years to clear the NHS backlog, currently at 7.53 million.
So if AVO take another year or two - or twenty - to get re-financed, shouldn't be a problem.
I can always leave my shares to my grandchildren - or to their grandchildren.
They are updating website - see recent 'AboutUs/NewsRoom' article.
Might also suggest Twitter (@AdvOnco) and LinkedIn (Company/advanced-oncotherapy-plc/).
Also, this board (if anyone hears anything please post).
Many thanks for the info, does anyone know how do we now get any news or information from the company? I have looked at their website and there is no updates on the situation.
Hi ac123,
As Meldrew44 has pointed out your holding of the shares has not changed. It is simply the share value and tradeability that has been affected by the suspension.
Every shareholder still owns the same percentage of the company's shares that they held before the suspension and later cancellation. If the company manages to get it's refinancing plan accepted by its creditors and potential financiers, then you will be asked to vote to approve the plan, but this is likely to involve a sizeable dilution.
Sadly, I can see no light at the end of the tunnel. Each RNS seems to repeats what has been said before, and move the target a month or two on.
Started: CuriousInvester6, 9 May 2024 08:18
Last post: CuriousInvester6, 9 May 2024 12:10
This link maybe worth reading as AVO would possibly fit this scenario. What ever the outcome a further news release has to be made until such time the company is declared insolvent or ceases trade. In the event financial negotiations are near conclusion the petition to wind up on 15th May 2024 could be opposed.
https://www.hilldickinson.com/insights/articles/delisting-option-and-opportunity-some
The important aspect regarding this rule 41 announcement concerns a change made by the LSE I believe in 2015 which states:
Guidance on Rule 41 - the LSE is also proposing to amend this guidance to make it clear that the LSE may agree that shareholder consent is not needed to cancel the trading of AIM securities where the company maintains or will be admitted to trading in an EU regulated market or an AIM Designated Market. This replaces the current reference to "comparable dealing facilities"
Can anyone else comment on this, as of now the company has not been declared insolvent or ceased trading.
This is a new one for me as under Rule 41 notice has normally to be given and 75% of shareholders approve, unless I read the following:
It should be noted that there are circumstances where the Exchange may agree that shareholder consent is not required for the cancellation of admission of a company’s shares, for example (i) where comparable dealing facilities on an EU regulated market or AIM designated market are put in place to enable shareholders to trade their AIM securities in the future or (ii) where, pursuant to a takeover which has become wholly unconditional, an offeror has received valid acceptances in excess of 75% of each class of AIM securities. The company’s Nominated Adviser will liaise with the Exchange to secure a dispensation if relevant.
There must be more news to come. Not sure how this would impact SIPP and ISA holdings but hopefully a new listing / takeover. Could this be a Nasdaq listing?
Started: billgreen, 7 Apr 2024 12:30
Last post: Iwant, 9 May 2024 11:28
Anybody around there on 15th of May to join this "event?
Petitions to Wind Up (Companies)
In the High Court of Justice
No CR-2024-001904 of 2024
In the Matter of ADVANCED ONCOTHERAPY PLC
(Company Number 05564418)
and in the Matter of the Insolvency Act 1986
A Petition to wind up the above-named company of Advanced Oncotherapy PLC (Company Number 05564418) of 143 Harley Street, Ground Floor, London, England, W1G 6BH whose nature of business is other human health activities, presented on 28 March 2024 by SOFTCAT PLC, Solar House, Fieldhouse Lane, Marlow, Buckinghamshire, United Kingdom, SL7 1LW claiming to be a creditor of the Company, will be heard at The Business and Property Courts of England and Wales, The Rolls Building, 7 Rolls Buildings, Fetter Lane, London, EC4A 1NL on 15 May 2024 at 10:30 (or as soon thereafter as the Petition can be heard).
Any person intending to appear on the hearing of the Petition (whether to support or oppose it) must give notice of intention to do so to the Petitioner or to their Solicitor in accordance with Rule 7.14 by 16:00 hours on 14 May 2024.
The Petitioner's Legal Representative is Paul Abdey, Brachers LLP, Somerfield House, 59 London Road, Maidstone, Kent, ME16 8JH Telephone: 01622 690691, Email: paulabdey@brachers.co.uk (Reference number: 300/STA6120.7789)
Still nothing today. Seems like Avo may be settling debts when necessary. I'm not sure if this gives me hope or not!
It's not in the Gazette yet and it should be by now. That could mean that the court have not accepted the petition for some reason. Maybe if the debt was small they have settled it.
Winding up petitions:
“ From start to finish of a winding up petition, that is from the issue of the winding up order to the court making a formal order to wind up the company, it can take approximately 8-10 weeks. This however assumes that all of the steps proceed smoothly and for example, the winding up order is not disputed or adjourned.”
I guess AVO are still playing for time
On another board, I referenced Monty Python's Black Knight. All his limbs are lopped off, but he still keeps coming. "It's only a flesh wound, come back, you cowards ..."
For AVO, we've seen employee tribunal rulings, ADAM dissolved, now this Mabey group's winding up order.
Nothing serious, you almost hear them saying, just another month ...
They are losing enough companies off Aim without kicking them off.
"Regulator is a joke". Second that.
Interesting set of articles by Charles Archer on why AIM is broken, and possible solution.
I use Ballox's convention ...
bubbleyou.bubbleyou.bubbleyou.share-talk.com/aim-market-reforms-heres-15-ideas-by-charles-archer/
Not neccessarily 7 working days to present a solution, the petition could be contested based on the same fundraising negotiation position as we preseume ADAM made in Geneva.
Winnifrith is a joke IMO, the main problem with AVO is that they didn't move from AIM a long time ago, it is not performing well for many companies in the UK market and is somewhat dysfunctional IMO.
When the company achieved 230 Mev if they had been a Nasdaq company the share price would have rocketed. Then we had the issue of Odey the largest shareholder at the time with 11% having to raise funds urgently and having to shutdown due to sexual misconduct. While I agree the company could have better funded themselves and prepared for such eventualities, Odey was a major factor out of the control of the company and collapsed the share price as a result.
As investors will know the technology is a revolutionary change in Proton therapy and should AVO survive they will be a major disrupter in the market. Having invested well over £200 million and all those with knowledge of LIGHT and the fact the company was progressing well with certification of a completed LINAC sysytem I sincerely hope they can conclude the financing arrangements. The fact that this has come this far is perhaps hopeful and also the fact that ALL other major shareholders and the board never sold any shares at all speaks to the confidence they had.
Winnifrith on his website makes a fair point, why has this share not been thrown of AIM?
Regulator is a joke
Deal or No Deal, 7 working days to present a solution!
I might add, it's good to see this board has not descended into the aggressive tit-for-tat name-calling that so many others fall into.
[ Even though, with the suspension, we have more reason than most. ]
Long may that continue.
Started: Birch86, 30 Apr 2024 18:48
Last post: ac123, 1 May 2024 10:46
Well, it is something. AND the article has been posted on the website within the last 24 hours.
For what it's worth, I emailed the LSE regulators to ask whether there was an absolute limit
to the time a share could remain suspended.
They could not clarify beyond what we already know - i.e. that a share is suspended initially
for up to 6 months, but can be extended.
So there's no reason in principle the extensions cannot be repeated indefinitely.
Wow, I want, nice spin.
Can't see a message of hope in a paper that probably started life last year. It hardly shouts staff and suppliers to get paid after a year of waiting. However, let's see what the next RNS says, I may be wrong.
It appears that there’s a resurgence of activity at A.D.A.M., marking a significant development after a prolonged period of inactivity. Both Jonathan and Anna are working at A.D.A.M. This update, sourced from a March 2024 journal entry, has been recently highlighted on the AVO homepage in their newsroom section. To be optimistic that the upcoming RNS will provide us with comprehensive insights beyond the usual content replication.”
Still posting on LinkedIn about research ?? What is going on
Started: MammaC, 23 Apr 2024 11:19
Last post: iWantThatOne, 29 Apr 2024 21:26
There’s no deal to be done I’m afraid, Driving. AVO directors are in denial, they’re down in the bunker issuing the same holding RNS every month (just two days to go!) in the misguided belief that “investors” are still trying to work through the fine details of a deal. They’ll keep going until the very last second, when they are legally required to call it a day.
Please can we resume trading!!
Just get a deal signed, for heavens sake!!
Share has been suspended now for 10 months. It appears we are being given as much rope as is required to get a deal done. No deal can be done without the lifting of restrictions on the sale of ordinary shares as detailed below
Shares In Issue: 537481209
Not in Public Hands: 25.43%
Comprised of the directors’ holdings and shareholders holding 10% or more of the Company’s shares capital. Details of any restrictions on the transfer of securities: pursuant to the terms of the Subscription Agreement announced 6 December 2018, Liquid Harmony has agreed not to sell or dispose of any interest in Ordinary Shares to any competitor of, or hostile bidder for, the Company which would result in such person, together with persons acting in concert with them, being interested in Ordinary Shares carrying in aggregate 5% or more of the voting rights attaching to the Ordinary Shares in issue from time to time. There are no further restrictions on the transfer of securities."
Clutching and straws comes to mind! Personally I can’t see all this work coming to nothing, unfortunately I don’t see shareholders playing any part. A speculative for the wider good’ investment that is t likely to do me any good but hope for those it might
Could you provide a link to that information?
I hope so. But as long as we don't have further details about it, I will not open a bottle 🍾.
Does anyone know what is the status with the petition in UK?
Good Lord - is this the first substantive good news we've had since Jun 23?
ADAM has not been liquidated but has regained its normal status. This means that a financial solution was found at the last moment to avoid bankruptcy and cancellation.
????
Https://shab.ch/#!/search/publications/detail/4c9ae79b-8cc6-45f9-98db-b7c61dc9bbb5
Started: basil1717, 7 Apr 2024 12:48
Last post: basil1717, 7 Apr 2024 12:48
Loan or liquidation. Guess we will know tomorrow!
Last post: CuriousInvester6, 3 Apr 2024 14:53
Thanks I missed the link, I have no idea if Adam can be saved or bought out of liquidation? But I guess the fact that AVO has not gone into administration as of now means there is still hope.
@CuriousInvester6
Follow the link in my post to the shab...
@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
Started: ac123, 24 Mar 2024 12:04
Last post: ac123, 24 Mar 2024 12:04
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.
Started: basil1717, 21 Mar 2024 15:24
Last post: basil1717, 21 Mar 2024 18:18
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!
Started: Driving, 23 Feb 2024 16:55
Last post: AParky, 9 Mar 2024 17:43
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.
Started: CuriousInvester6, 29 Feb 2024 17:33
Last post: CuriousInvester6, 29 Feb 2024 17:33
Really the BOD could have at least varied the announcement today and added a little more detail. For example why the delay? This transaction has been delayed so many months and each time the BOD give another month-end deadline that they miss. The fact that all parties are still engaged with the mounting advisors and legal fees is the only consolation I have that perhaps this deal could be consummated. I hope its this year!
Started: ac123, 28 Feb 2024 18:02
Last post: ac123, 28 Feb 2024 18:02
Looking back at previous RNS's we see that even back in October last year the shape of a deal was already in place,
including long term finance of $80M and short-term bridging loan facilities. From press reports we also knew the likely benefactor, entrepreneur Seamus Mulligan and his Nerano group.
So what's the holdup?
Yes it's a lot of money, but where's the sense of urgency? (And where was the foresight a year ago?)
We note that even if the company started trading tomorrow, timetables for first patient treatment and certification are going to be put back at least 8 months. What worries me as well is that vital equipment currently lies mouldering away in a forgotten basement, while hard-won skills are being lost by disaffected keyworkers who probably can no longer give a damn.
Come on AVO. Time to put us out of our misery. Or to get back to work.
Started: spot2020, 20 Feb 2024 17:12
Last post: iWantThatOne, 22 Feb 2024 19:21
Just a few more days in February before we’re told - shock horror - that there has been an unexpected delay in receiving funds from the investor but we really hope we’ll get something in March, folks!
Spot . It's beyond reasonable, we should know either way by now, is it alive or dead. K
The days and weeks tick by . . . .
I don't know what the procedure is for listed companies, but if one of the current creditors (and there must be some sizeable ones) runs out of patience and applies to the Court for a winding up petition to be issued, my understanding is that the Company must notify the exchange immediately, whether the debt is then settled or not. This must have consequences. WUO's tend to bring about prompt action of one form or another, and sooner or later one creditor will surely do this? How long can this state of limbo carry on?
Started: AsItReallyIs, 4 Feb 2024 20:12
Last post: Iwant, 14 Feb 2024 13:49
The China issue may be more realistic than is currently believed.
A major investor comes from China (a pharmaceutical company, which has secured the distribution rights in China) and P-Cure, the previous supplier of the patient positioning system inclusive Philips CT, is financially linked to China, with a company that is already active in this field. P-Cure had massive financial problems and got involved with this Chinese company. Perhaps someone else here can explain more details.
In any case, P-Cure was financially reorganised but at the same time became a competitor.
The LINAC accelerator technology, which is much cheaper and better at the same time, is still missing.
The BoD also has more than just share packages, which may mean that other priorities play a role. Odey started a sold out of their shares (everyone knows why), which caused the last drop-down of the SP. No-one knows what's happening actually.
As the BoD does everything behind closed doors, there is plenty of room for speculation.
I think it's time that Nicolas Serandour lifts now the secrets that everyone knows where we are.
I fear unfortunately, that in this situation, it will hand up in the hands of America or China and make them handsome profits.
@PM44
Yes, I have invested and not a little. Because I know the technology and know that the system can work very well. There are no more technical showstoppers. The system is doomed to be a success once the prototype in Daresbury has been completed and a tumour or water phantom can be irradiated with it. The final financial investment is missing and that is solely the fault of the BoD and there the CEO as he is responsible for this task.
I Want, I think you have a very valid point and I wish I read this advice many years ago when I invested considerably. Are you invested?
A typical mistake is to underestimate the time needed for development and the certifications required in medical technology. The 230 MeV was an important milestone, the proof that the engine works. But before the "aircraft can fly safely", everything else has to be right. These are no longer unsolvable problems, that's sure, but it is a lot of work. And it was precisely for these tasks that time and therefore money ran out. On the other hand, you often can't tell investors the real development times because they don't have the patience to wait due to today's expectations that everything has to make a lot of profit very quickly.
A proton therapy system is the largest and most complex medical device in the world. The market for such systems is immense and so are the profits after market launch. But this requires investors who understand this and have the patience. And I think that's what the BoD is not ideal for to find them.
Michael Sinclair, former CEO, once said that he would never have agreed to lead this project if CERN had told him how big it would really be. But then, as it progressed and he realised it, he understood also the potential behind it. There are people I trust to convince investors for such large-scale projects. Michael Sinclair certainly has a good charisma for it and I hope he's still in an active role. Another person, not at AVO, but involved in high tech complex projects is Bertrand Picard, who I would have tried to get into the BoD. He is even not fare from CERN. I had the opportunity to meet him in person in Payern. He has the necessary charisma and vision plus the technology interest for such large-scale projects, which ultimately benefit the general public.