Member Info for Bimini

Can anyone give an opinion on the current cash at bank following the recent frantic activity involving CLN's and the deferment of the £10m loan. It would appear the liabilities still exist they are merely delayed.... which ostensibly means no actual cash has been raised or am I missing something. No doubting the capabilities of the machine and its global potential but there must be doubt that potential Investors/Buyers would "gamble" on working with the existing BOD.....therein lies a major problem. Many platforms are making this suggestion be it fair or otherwise.

I agree totally with IWTO's comments...AVO, over the past months, must have recognised the short term funding issues but failed to raise these to support the monthly operational costs through to accreditations and the first patient treatments. One assumes this could have been achieved with relative ease rather than the limited "drip drip" funding put in place. Raising the prospect of needing £50M to £70M in these turbulent markets based on the lack of fiscal strategy to date, has spooked the markets and as time now is so short to running out of cash to support operational costs they are caught between a rock and a hard place. It would appear that the sp on AIM is tied no longer to the volume of trades but on the prospect of their raising the required funds in the short term. The sp dropping 10% of its value yesterday based on recent trades is ludicrous.

I posted when the sp was £0.20 that there was little to support the sp without positive news on both short and long term funding. For months LTH have been beating the drum about lack of communication regarding everything other than the massive market potential and reaching 230MEV..the latter a magnificent achievement, unfortunately not recognised by the markets. With the share now heading towards zero this is makes raising finance even more difficult in these turbulent markets.....one assumes the BOD has been trying to do this since the subject was raised early December. Couple this with now trying to raise £50 - £80M (why so high?) by a BOD untested in global manufacturing and production with a "communications" and "strategy" track record such as displayed over the years does not auger well. Any potential financier one would think would want control of the company and BOD before committing such funding.....time is not on the side of AVO. I have no idea of the worth of the IP but I do know if its a case of Administration the costs will be enormous. As a LTH over many years I hope I am wrong.

At the final hurdle the RNS is released whereby the BOD have "bought" another 3 months grace in which to save the company before the inevitable happens...in spite of this lifeline the markets today appear not to accept the BOD is capable of raising the necessary Finance....talk of "further costs cuts" will have little impact in the short term. We need to see a blue tide of "buys" over the next days to build confidence and one or more of the global boys in this arena ,with deep pockets, to step up to the plate and benefit from what ostensibly should be an enormous future income stream.

I agree with you IWTO. The sp has dropped from £0.20 in a very short space of time because of the lack of informed comment from the BOD. As pointed out in earlier posts the major contributor to this sp drop is the critical funding situation which should have been addressed following the Presentation late last year and a total failure to advise the markets on the steps being taken to put this in place. It is not just the funding to bring a validated machine to production and the market it is the fact the company must be very close to trading insolvently unless they have cash reserves of which we are not aware....for the BOD to have sat and watched the deterioration over the past 2 months without any attempt to clarify matters and provide support is unprecedented.

I don't think so BB....there is little to support the sp except for the potential of the IP....without news on the critical Funding issue time is now the biggest threat to the sp.....the lower it drops the less hope of the BOD putting in place a rescue plan.... other viewpoints will be most helpful.

As a LTH I am continuing to hold my position. However unless extra funding was obtained since August 2022 the company must now be running on fumes as the Cash in Hand at 30.6.2022was £2.3M and they raised another circa £6.3M in August....with monthly expenditures running at circa £1.3m they must be close to the brink of breaching trading standards. Unless the BOD advises on the "true funding situation/possible takeover plans" within weeks to allay shareholders fears the sp will continue to nosedive and administration looms large. As posted earlier this week "communication" from the BOD continues to haunt AVO's ultimate success.

Will some one please provide the logic behind the movements of the sp in this market. Over the past 7 days trading there have been over 60 buy orders totalling in excess of £130K and the sp moves £0.01.....in the same period there were circa 8 sell orders for some £8K. Today 1 significant sell order for over £14K results in a 5.5% fall of £0.015.
With this kind of volatility to sell orders and the likelihood of imminent firm and positive news on Funding, Accreditations, Sales or accelerated Production plans the future looks bleak. The BDO must and is aware of the level of concern expressed on this platform by the many well informed lth's who are well informed and hold significant shareholdings but until such news is released the sp will continue its downwards spiral as there is nothing to support it in the shorter term and no way in the longer term through Q4.

Since the achievement of 230MEV there have been views expressed on the downward spiral of the sp as opposed to the expected doubling. It was hoped the Investor Presentation would provide much needed support for the sp by setting out a clear strategy to the future expected "promised land". My take from the presentation after reading 2/3 times was the stark facts:
1. AVO's Balance Sheet could not support the commercialisation of machine i.e. the costs of manufacturing and production.
2. First patient treatment circa 1 year away.
3. No expected news on further orders until machine fully proven.
Company overheads alone in this time span will be approximately £20M let alone commercialisation......a bleak outlook in these turbulent times in spite of certain well healed shareholders. There is no doubt the machine will be a global success in due course and extremely profitable down the line WITH the correct funding and management.
Many shareholders are pulling out and many will re-invest in Q3 next year when the sp will likely be 0.10p or lower following further share dilution. As LTH I knew this weeks ago and could not bring myself to pull out and will now see the ride out with fingers crossed!!!!!

"The Company's executive management team will present the recent operational progress achieved on the LIGHT machine, the commissioning and certification process, current market dynamics and how the Company's business model and commercial strategy are expected to lead to the successful rollout of LIGHT."
Here is the opportunity for the BOD to give the detailed information requested over the past months with particular emphasis on the last 3 points....have they got the commercial skills to bring LIGHT to the global markets will influence the big backers and dictate AVO's future prospects.

Vanilla.....I agree entirely with your comments and also share your concerns over the continual drop in the sp as sells outstrip buys in spite of the reaching of 230MEV output which I and many other LFH expected to virtually double the price. As the first treatment together with gaining the necessary validations and accreditations is now a year away the need for major funding becomes paramount as the monthly expenditures can only increase as plans for production take
hold. This can only mean further share dilution and unless some very positive news on orders, interim production, speeded up accreditations or other solid and reliable news I can only see the sp dropping below £0.10 over the next months. For many investors a year is a very long time to sit on this investment without any prospect of considerable support in sight and which can only come from very few sources. Let us not forget the sp was over £0.40 and on an upward trend less than a year ago.

As anticipated and predictable....further dilution by a major shareholder presumably to shore up confidence....however this cash injection will cover the monthly costs for less than 3 months. What has happened to the "Investors Day planned for October...is this still on the cards?

The company is to hold an Investor Presentation in October - date TBA. The sp will continue to dribble downwards due to the "wait" time before first patient treatment in Q2 2023....in the mind of many the only key to success. I look at the situation differently. What investors need be shown clearly at the presentation are answers to key questions:
1. A detailed timeline project plan for successful machine validation, global accreditations, software for positioning et al and plans for the customer structural installation.
2. Has a manufacturer(s) been appointed and are production plans now existing. How many machines can be produced annually and will machine production start BEFORE 1 above is finalised. Have suppliers been identified and critical supply issues addressed to avoid any potentially expensive delays.
3. Information on existing sales orders and what steps are now being taken and where to obtain further orders....once 230MEV was achieved it was suggested this would follow. Are "customer machine lease/financing plans" now finalised ready for potential sales.
4. Doubtless costs will now escalate so detailed cashflow projections to identify future funding needs and where these might be raised.
5. Is a take-over a possibility bearing in mind AVO has achieved its Technical/Medical objectives?

Cites!!!

Like other LTH's I am truly surprised that the sp has remained static in spite of the most recent achievement. I suggest the raising of further funding will be more costly than previously but will not be problematic bearing in mind the de-risking. I have just read the new Hardman report (thanks B) and with regard to future production can someone provide insight to the technical aspects. Hardman sites there are 1500 parts to the machine but how many are "common" parts for production and are there any potential supply issues as AVO are dealing with "world class" suppliers. Also will the machines be transported to one dedicated assembly site or to the individual sites for assembly and validation/testing.
Previously talk centred on an annual production of 8 machines...is this still the aim or can this be increased. I note monthly costs have now increased to circa £1.8M as expected and will no doubt increase more rapidly now as the pace increases and costs escalate....I would hope the Investors Day in October will shed light on these issues but will still appreciate other views.

Oh Meldrew44 you are so cynical!!! "The summer of 2022"....... sounds like a Romantic Novel - long and drawn out. Autumn is not yet here but I question why I am wearing 4 layers in doors with the heating fully up and when going outdoors I have to put on gloves and a heavy overcoat. I have just read the deadline RNS again and yes it does say the end of summer 2022 and NOT 2023.
You will have noticed the sp got hot last week and went to 0.245p but realisation and caution has now kicked back in!!!
I do hope the BOD do not issue yet another excuse based on the tragic and turbulent events of the past few weeks.

Hi pekingduck...I do believe your appraisal of the market potential of a fully functional proton machine is accurate...this has been clear for over 2 years and AVO and their presentations and market proposers have beaten this drum during this time....sticking to a deadline of the ever expanding date of a the machine operating at 230MEV (end of summer....see previous postings) is now the critical factor as doubt over AVO's ability to meet this target are being challenged as demonstrated by the fall in the sp. YES if they meet the target date excellent BUT if another delay/excuse comes out then the confidence in the BOD will drop to NIL and the sp will drop below the £0.20...they have got to provide confidence and info to the market on progress to instill confidence....we all want it work but over the years investors have been mislead/underinformed and project timelines have been a disaster.

BillieBunter and Jayber......tie them down tomorrow if the opportunity arises....good luck!!!

Guys....to release this now "oft" repeated "broad brush" global market information 1 day before the AGM does not inspire confidence in the BOD tomorrow clearly stating the deadlines and time scales relevant to the machine working at 230MEV, relocation and setting up Harley Street, giving indicative dates for certification and validation and a positive month by which the first patient will be treated. All other information is at this time irrelevant and merely muddies the waters and adds to shareholder frustrations and their confidence in the BOD's abilities to bring this to fruition. It is self evident that a fully operative machine at 230MEV will take the market by storm and we have known that for many months....give us the facts not a re-hash of previous information feed.

Hi CuriousInvester6.....your frustration and concerns are shared I suggest by all LTH's...each month AVO do not meet the "poorly specified and inexact" deadlines another circa £2.3M disappears from the coffers and the sp takes another beating. As expressed by others on this platform the term "summer" is so open to interpretation but put simply it provided the BOD with a window of nearly 5 months to be in a position to say 230MEV has been achieved....it did not does not inspire confidence in their PM abilities and the excuses over the years are well recorded and known by all. The AGM on 29th July SHOULD be the golden opportunity to give investors insight into the progress on reaching the 230mev, the current Cash position, further Sales Orders and plans for production or take over (as has been suggested by others). If this does not happen and we get more "blah" then I think you will see a massive move to exit this stock.