Member Info for Piltick

No-one should be taken in by this dreadful negative spin. This is a disgusting blatant attempt to persuade shareholders to sell for a substantially undervalued price. See my earlier post below. Also see the brokers' forecasts. In my opinion, this business is worth at least double what is being offered.

"Finance sorted". Sorted?! £1.5M will last them about a month. Then what? And how are they going to pay back the rest of the loan?

Known receivables would normally refer to Income from Sales i.e. debtors due to make payment. But AVO have no sales, so no Revenue Income. The only known receivables I am aware of would be resulting from their quarterly VAT returns. So are they putting up their VAT receipts as security against a loan?

The 10 working days, aft4er 26th May, was up on Friday 9th June, so we should be hearing something shortly.

Look at the brokers' forecast for 2018 (per digital look.com): Pre-Tax Profit £4.7M (highest on record) EPS 9.63p PE Ratio 4.6 EPS Growth from 2017 28% Yield 3.5% That's based on SP of 44.3p. I reckon they should be offering a PE of at least 10 x 2018 Forecast EPS, which would be 96.3p. Even 10 x 2017 EPS forecast would be 10 x 7.53p which would be 75.3p, which would be 80% higher than the current offer. Stitch-up.

In my view (for what it's worth) they should be offering AT LEAST double the current offer.

In my opinion (for what it's worth) the SP should be far higher than it is currently. My feeling is that it is held down because of nervousness about the geographical location. Whether that will improve, or get worse, over time, we will have to wait and see.

My mistake, I have now seen the comment in the RNS dated 1st June: "Due to protracted regulatory submissions in France, Spain and the Czech Republic, the Company is now projecting the final read-out from the study in the second half of calendar year 2018.  The Company will issue an interim data analysis in the first half of calendar year 2018."

I'm not so sure that there has been a delay. Was it not always the case that they were expecting initial readout in early 2018, not final readout? Here's an extract from a posting on the ADVFN BB on 6th December (can't remember who posted it): "Evgen have raised a total of just £13m from investors since incorporation and they have enough cash to get them to early 2018 when they get the initial readout from both the Phase II clinical trials."

Last time the SP (mid) closed at 27.5 was on 15th May, and it's closed below that every day since. So yesterday, Tuesday 30th, was the 10th trading day that it has closed below 110% of it's par value. If I've calculated that right, then surely the requirement to call an EGM has now been triggered?

I see that they've got rid of one of the non-execs, who was advising against the buy-out, after 10 years service.

I certainly don't follow TW blindly, but I do look at what he says and do my own research to see if I think he is right. I lost a lot of money by ignoring him on QPP, believing that he was mischief-making when in fact he was dead right all along. So I'm a bit more careful now. But back to AVO: I sold out at around 60p at a substantial loss. I do believe in the technology and I hope that ultimately it proves to be a game changer for the patients, but I fear that the current shareholders may not benefit from it. Time will tell.

That's supposed to be PM44, not PM$$

PM$$ - It's really not about the machine any more, it's about the company's ability to survive. As long as Bracknor keep flooding the market with shares, and that's likely to go on for another 2 years, there is no way that they SP will be able to rise.

They have already got undertakings for 42.2% of the shares, so they are almost certain to get the number they need to get this through. Seems to me a well arranged rip-off. Remember the name Gary Ashworth for future reference.

And, of course, they've got to sort out their dire financial situation i.e. get rid of Bracknor somehow.

AVO's system (when it is complete!) will be more advanced than this. It will be smaller and cheaper, mainly because it doesn't use a cyclotron which is the huge piece of equipment required in current machines. Here is an extract from AVO's web site: "LIGHT is an acronym for Advanced Oncotherapy's Linac Image Guided Hadron Technology - the next generation of particle therapy systems that requires neither the massive infrastructure nor the extensive shielding that older and current forms of protons accelerators do. LIGHT uses innovative accelerators and hence does not require a cyclotron nor a synchrotron to accelerate the protons to the high energy levels needed." So this the very significant advantage of the AVO system. If only they would hurry up and get a working prototype up and running and verified!

It's more of the usual stuff from this lot - smoke & mirrors, and total lack of transparency.

Presumably we are still waiting for confirmation of Plowman's investment of £250K?

Am I right that there will have to be an EGM to get shareholder approval for the acquisition of Siyanda Smelting and 70% of Power Alt? So now presumably we are waiting on the shareholder circular to be issued.