Member Info for Bimini

The AGM was held Wednesday.....last year questions taken from the floor, meeting well publicised, a full presentation by the CEO, all component parts manufactured and delivered or on schedule for delivery, upbeat and informative. This year nothing....virtually a meeting behind closed doors where AOB was not even on the agenda. I suggest the way this is now shaping up the BOD is buying time and in the weeks to come when frustrations overflow and tempers rise they will put out an RNS putting the lack of progress down to Covid 19....shameful

It would appear, looking at the share trade volumes and no large buy/sell orders, that the common held opinion is the AGM will produce nothing by way of significant news......the market is not risking at this time any move buy or sell until such time as clarity (or lack of!!!) is made public. I am astounded at the paucity of updates from the company over now 7 months and unless this changes and transparency is demonstrated the sp will plumett as shareholders lose patience. I still believe this will happen on the 29th and accordingly will buy a few more in anticipation.

The AGM is in 18 days time......one expects there will be a flood of new "buy" orders commencing next week in the anticipation of positive news regarding the V & V, Certification and manufacturing/production at that meeting. I also think we will see a clear, updated project timeline plan. The company really cannot afford to be anything other than totally transparent on these issues, after all these months, and as a result I do believe we will see a significant price increase in the SP.

Meldrew44.....look no further....the following are lines from the opening summary in the Hardman report of Dec 2019:
"In the past 18 months, the project has been de-risked through important technical milestones. AVO is now working on the verification and validation phase, prior to CE marking and LIGHT being used on the first patients. Meanwhile, AVO has entered into a research collaboration......that is virtually a repeat now 7 months down the line without a single bleep on the advancement of V & V or anything else telling other than we have secured more funding....the most telling information in the Hardman report is that costs have escalated over 20% in the past year and we have secured funding for a further two years which SHOULD see the company over the line....as you say it is hard to not to be sceptical!!!!

The Covid 19 lockdown has provided AVO a most welcome 3 month respite as regards technical development and progress towards a fully tested and functioning machine.....no spotlight on them......continuing silence over the past 4 months.....no updates on delays, furloughing staff, agreements on manufacture, marketing strategies.....during which time circa £1.4M a month exits the door.....BOD GET A GRIP.

I have read and enjoyed the different opinions over the past days on AVO's performance from different long and short term holders, identifying the potential strengths versus the lack of performance by BOD and lack of tangible adherence to Timelines and I question what will be the true outcome when the next RNS or Annual Report/AGM comes out?
What will be the SP on 31.7.2020 after these events?
My bet is Refinancing...Timelines missed thru Covid 19 and first treatment mid 2021 subject to....

Zoff…..if that is the case, regardless of 2 months lost through Covid the project timelines were never accurate and information from AVO has been misleading to say the least!!!!

Just a thought......Covid has provided a wonderful excuse to provide reasons for not meeting project deadlines again....not a word on whether staff have been laid off/furloughed....what work is ongoing...steps to conserve cash?
AGM in July!!!...sp moving steadily downwards.....we need news now not 3 months down the line.....AVO needs to put out an RNS now to instil confidence.

The RNS of 0.4.2020 refers to Delivery and Assembly....this was advised in December....it appears AVO were going to miss another deadline critical to treatment of the first patient in HS in Q4. The delay, combined with Covid19, has lead to yet another financing now at a very disheartening SP of 0.25p when on Feb 20th the SP was 0.40p. What is more worrying is the fact that this refinancing might not be sufficient to carry them over the line if the date for delivery is 2021. The RNS refers to "Commercial Orders" to be advised in due course....what is there to say whilst there is still no date for delivery. As a LTH, like many others, the events (or non events) of the past 4 months have shaken belief and its a long way back to make the SP of £1.85 cited by market analyst.

Provided the current pandemic does not adversely impact AVO's project planning can anyone help with technical input on:
We are now in April and we understand treatment of the first patient will be in Q4 2020. Working backwards by what date does Verification and Validation have to have been completed to meet the deadline......how long will it take to dismantle the machine in the North, transport it and reassemble it in Harley Street together with the Operational software and then test before the first treatment. This must take "weeks" hence we must surely be closing in on an announcement on progress and news on potential sales, production plans etc.

I also took stock of the full impact of the words re the manufacture/delivery of all components and the impact down the line on honouring past timeline commitments...…..however on the other more positive side if I were in one of those areas where the marketing of the machine has been focused i.e. China and S.E. Asia, USA, and parts of Europe and I see one machine "sold" I would be out of my blocks very quickly to get my order in to secure my machine in the line for delivery as long as my contract protected me for adherence to delivery and other pertinent terms......very encouraging and sp should see rises as the market reacts.

Hi Guys...….I am looking for some guidance from you technical guys. I have studied past project plans and see detailed timeframes for machine build and test up to December 2019 but have been unable to get any handle on how long "final testing" and the subsequent "validation and accreditation" might take. Furthermore can anyone hazard a guess at when machine build would be put into action bearing in mind first treatments are scheduled for Q4 2020. Also who carries out the validation process.

Vanilla......well spotted....the answers to many of the questions posted on this site over the past months are answered in the one article on the AVO website...….the machine is fully assembled and ready for validation.....on schedule to treat patients as projected.....expecting to be taking purchase orders once certification is in hand (shortly)....confirms plans to build and lease 8 machines per annum......et al......why no RNS or direction to this article from their PR outfit is beyond me...….now watch the SP rise on this citing.

In the Results and Presentation of 25.7.2019 it states of the CCL's required 6 have already been delivered and the final 7 will be delivered early Q4 2019. Also it stated the Treatment Room Hardware will be delivered end of Dec 2019. In the RNS of 30.9.2019 Half Year Report it confirms the above targets and goes on to state "Resources of the company are increasingly focused on verification and validation activities an important step for verification". No time lines or detail were offered for the latter crucial steps.
Since these statement I am not aware of any information from AVO which confirms the deadlines were achieved and to provide updates on the status of final testing, validation, certification, regulation et al. Such information would be hugely comforting to confirm earlier statements of "huge project de-risking" which in turn will stabilise and support the sp.
If I am missing pertinent information please someone do clarify.

Zoff/iWantThatOne…...some months ago we were told the technical problems had been considerably "derisked" and now we should and trouble free path to a completion...…..the fact that now we see the "easy" milestones being missed by not weeks but months is to say the least troubling...….why is this occurring and where is the accountability?.....couple this with the fact that every month that goes by sees another £1.5m disappearing in overheads, which figure will increase considerably once we approach production and the picture looks bleak. As previously commented the silence from the executive and their PR representatives giving valid reasons for the delays is further reason for concern. The longer this situation continues the faster the SP will drop and the more difficult/impossible it will be to realise the £1.55 share price prediction of some weeks ago.
How does one get AVO to provide the markets with this crucial information?

Zoff or anybody with the information...….what exactly, according to previous RNS's and reports, are the key milestone technical dates which have been specified to the market by AVO and its advisers.....this would include both future dates and dates in the past which have not been met?

How in heavens name can a share drop 13.33% when there has not been an RSN and the share trading has only marginally favoured sells rather than buys. Please will someone offer a plausible explanation as I m at a loss both mentally and financially. What does the market know we don't?

Over the past days there have been many informative posts concerning the technical development of the unit and the regulatory testing to take place in Daresbury. However, as was pointed out in one post, a finite date by which the unit will have been proven at the 230mev levels is still "H2 2019"......I can only assume a more accurate date cannot be posted by AVO because it is dependent on factors outside their control. Hence the news the markets need to hear could be 5 months away. Since 17th May 2019 to 1st August the sp has dropped from £0.52 to £0.38 (26%)…..without some comforting news on this front the sp will continue its downwards trend as shareholders lose belief and bale out.....these are the bare facts much as it hurts me as a long term holder and a believer in the product.

As a long term investor I admit to apprehension ahead of the upcoming AGM. If no technical up date is put out before the 25th then the likelihood is the upbeat news will have to come from another direction....Harley Street....Cheshire testing site....newly elected executive expertise....positive finance in place....positive vibes from potential customers et al..... et al.
The truth of the matter is the company is burning £1.4M a month in overheads....the costs to make ready test facilities, Harley Street, manufacturing sites etc is eye-watering. Every month that goes by without positive news on a proven machine capable of operating at the required output is dire for the company and will result in the SP dropping at a faster rate than present. Ahead of the AGM we need some positive news!!!!

It is more than worrying that there has been no release of significant news for over 3 months. If the company has to wait until the final successful machine trial testing at 230MeV is complete, scheduled for mid year, then the sp will be on its knees due to the current cash burn at £1.3M a month as a minimum. The slow trickle of sell orders, both big and small, is impacting the market and reflects the shareholder uncertainty resulting from the no news situation....the trickle will become more a flood the longer that news is not forthcoming.
Please AVO and their PR appointed firm let us have something!!!