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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.
The Bod have consistently demonstrated a capacity for gross ineptness that makes it unlikely they will succeed in what is an extremely complex attempt to rescue the company. They are too incompetent to have any hope of getting us through this. I'd gambled on LIGHT, on its own, being the factor that would outweigh their incompetence.
I was mistaken
The BoD are once more behind schedule in one of their many promised deadlines they've failed to meet over the years. They promised us a report in early October. Where is it? I would try to contact them to ask but that would be a waste of my time. They are in the habit of never answering awkward questions.
AVO have a brilliant product that could and should give them a wonderful future but is held back by the consistently woeful performance of the BoD. They may be excellent scientists but they're terrible business managers.
Forgive me if I'm wrong but those article seem quite old.
laingbuissonnews:
Advanced Oncotherapy secures up to £42m in new loan facilities
By Maria Davies -30th June 2020
And the Macfarlanes article seems to be dated 03 July 2020
What am I missing?
I expect SOS to do ok without JL
Last year's half year trading update was on the 18th October but it was announced at the same time as the AGM. It hasn't been announced so far, so my guess it might be after the effects of the roll out into Sainsbury's stores are know.
I don't see any significance in the low value of the transaction. I feel that It's significance lies in the fact it happened at all. I believe it's an indication of behind the scenes activity that makes it unlikely that AVO is heading towards being put into administration. Beyond that I'm just guessing.
I've been following AVO for very many years and experienced the BoD doing some weird and wonderful things. The things that stand out are that the long term members of the board have invested a lot of their own money into the company, have rarely sold any of their shares and sold none at all in recent years. They may be inept but they're very committed to AVO's survival and stand to loose a lot if it fails.
Laughton, I think you might be right. I think many people only comment about any product if they're not happy with it. I think those who are happy with what they buy, don't tend to comment so much.
A sale might appear to be the most likely possibility but there is that unexplained transaction to take into account. What was that about? I can't see it fitting into a sale but I can imagine it being in someway linked to ongoing financial arrangements to pay salaries, etc. It was only trading on AIM that was suspended. OTC trading might not be affected and no mention was made about the company ceasing to operate, or not paying salaries.
Does that make sense?
So have I
There have been fears in the past that China could be a possible contender to take over AVO, along with LIGHT. I don't know how that might work out for the rest of the world, or what CERN's stance on it might be. I believe that CERN might still own the IP and AVO 'owns' LIGHT under licence from CERN.
China has figured prominently in AVO's history since the days of David Cameron's premiership. One of their major shareholders and past director, is a Chinese woman, RhenHua Zang, who has given the address of AVO's Harley Street clinic as her contact address in the UK.
It's over 4 months since it was announced that AVO was in discussions with potential buyers of AVO, yet there has been no indication whatsoever of any progress on that front. I feel that the prolonged silence indicates either a general lack of interest on the part of potential buyers or a lack of commitment by AVO to selling.
Assuming that going into administration would be the least favoured option, that suggests to me that the recapitalisation plan might still be alive and kicking, if not yet complete, and there might be hope for us yet.