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Unless a rival comes in and buys up the whole lot and can negotiate a license for the CERN beamforming tech, it's all pretty worthless. Any assets that can be sold will go some way to paying off debts to ex-employees, trade creditors & accountants, and it's very unlikely there will be anything for shareholders.

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 orders cut straight to the quick. There's no messing about with court judgements or bailiffs, debt collectors or anything of that sort, if you offer evidence of a debt to the Court and it is not settled or denied by the plaintiffs response within the allowed period (30 days), the WUO gets issued and that's the end of the Company concerned. It's a brutal process and proceedings are indeed swift. The order can only be rescinded if the Company applies to the court for a hearing and can show that it's debts can be paid. Maybe the BoD would stump up the necessary to do this but I doubt it.

I don't think Bertie8 was being serious, but a High Court will only issue a summons if there has been a suspected breach of law and a case has been prepared and submitted to the court by a lawyer. Whilst the BoD have been incompetent, that is not necessarily illegal unless they have been negligent or fraudulent in which case as directors they will also be financially liable. If that is so, let's hope they get what they deserve.

If AVO goes under, CERN will a creditor in respect of the license for the RFQ technology agreed with ADAM, and the license may then end subject to its terms.

If AVO is sold, the new owner will almost certainly have to negotiate with CERN for a new license, since it likely won't be transferrable. CERN will be able to ask for anything they like, as LIGHT will be useless without it. Not an attractive proposition for any buyer, and no doubt any agreement will take a long . . . long . . . time . . .

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?

I've been keenly interested in AVO for many years too, in fact before they were even AVO. I even designed some of the equipment and can see it in the videos. The problem has always been the BoD. All Scientists, Accountants and Medics, and nobody that knows anything about engineering and manufacture. Scientists are useless without the people who actually know how to get stuff made, and I suspect that AVO had too many of one and not enough of the other and nobody on the BoD could see it. Hence, it took way too long to get the machine made and they ran out of cash. Maybe now it's built those financial specialists on the board can use their skills to drum up the cash needed - but I bet they are pretty crap at that too. They need to be gone for this to go anywhere or it will all get wound up and sold for scrap. It's pretty heartbreaking to see - especially as I'm sat on several million shares . . . .

I'm wondering why there are no insider buys at this price - the lowest it has ever been. Have the BoD no faith? Mr Bradfield could probably pick up a vast amount of shares just emptying his petty cash tin.

This cannot be. At the moment AVO is worth a couple of average premiership players. If the SP drops to a few pence it will be worth a couple of championship players. The manager and board need sacking before it's worth the price of a pie at half-time. Miracle needed!

Can you sell what you can make, and can you make what you can sell? Avo may be able to secure more orders on the potential cost/performance benefits but they have yet to show how they can fulfill them. Construction of the first machine is an admirable achievement but what investors are looking for is a route to earnings from future sales and Avo need to explain how the machines will get made. Back along there was an industrialisation agreement with Thales - what happened to that? AParky hit the nail on the head, "the market seems to have come to the conclusion for the time being is that ok you have a working machine now what are you going to do with it."

Bimini,
Answers to your questions 1,2 & 4 will likely not be given, because there is nobody on the BoD capable of knowing them. We all well know how accurate their timelines have been. None appear to have any significant manufacturing experience, likely a cause of the many delays in getting the prototype up together (and that is what it is). So, who has any faith in the present BoD guiding the company along the path of creating a manufacturing concern? – not me. I was hanging on until a 230MeV beam was reached hoping to recover some losses (gutted). As to your question 5, hopefully an industrialised concern comes along and snaps AVO up before the present BoD delay progress into the cobwebs whilst other concerns currently building similar machines (and there are some) take the lead.

The Linac 2022 conference was very interesting with lots of accelerator people from all-over. Heard nothing to contradict the info in the last RNS, and the date you mention in your post could be very realistic. Got to be careful what I say on here.

LINAC is the main bi-yearly gathering for the world-wide community of linear accelerator experts. The conference will provide a unique opportunity to hear about the latest advances in research and developments on linacs and their applications. https://linac2022.org/ Jonathan Farr of AVO is an invited speaker on the future of medical linacs. His talk is the very last on the programme - hope he's not late . . .

I doubt they are going to say anything along those lines nor answer any questions of that sort. Went to the PABG (particle accelerator & beams) conference in Liverpool this week and saw nobody from AVO or anything posted. Quite a surprise since it's on their doorstep. Maybe the BoD terrified of loose talk and kept everybody away. This recent publicity is just old waffle and I can't think of a purpose for it unless they have nothing new and worthwhile to say.

I've been adding too, but it's got to the point where I can't afford not to if I want to get anything out of this. The upcoming AGM will be very interesting. By then the outstanding warrants issue will have been settled and there may or may not be further technical update. Whatever, everyone gets to vote the Directors in or out and some of the larger holders may not be happy with what I'm calling a lack of truth from the present lot. Who are they and what exactly do they all do? - you can bet they're amply rewarded for it.

At Last, some tangible evidence of progress. https://youtu.be/07TFUL5DzMU

Quite right. It was never the plan to dismantle the Daresbury facility. That will remain operational during the commercial installations at Harley St and elsewhere, and then retained as a testing & training site. Regarding potential growth, the global market of some $70 billion will be targeted by LIGHT, where the multi-room installation cost is some $40M compared with $150M for cyclotron-based systems. I think that's a big enough market for Avo to aim at.

Phil7390. I seen to be reading detail in it that you're not. "and is now confident in obtaining outstanding items in a timely manner (1).
(1). These include dipoles and quadrupoles as well as electronic parts required in the MAMMA (Magnetic Measurements for Medical Accelerators) and DRIPEC (Digital Regulation Interface for Precise Electromagnet Control).
It's NOT finished.

Phil7390 you need to read the RNS again. The machine is not fully assembled, it's missing critical parts which have not yet been delivered. It's the BoD that are saying the new certification data request was not anticipated, so if that's what you mean by out of the blue and ignorance you are at least right with that . . .

There have been too many delays, excused with gradual bleeds of the truth. What a truly massive amount of work they still need to do! There was never ANY hope of getting it done by the end of Q1 and the BoD surely knew that when they announced the last delay. To say that a regulatory request for measurement data confirming that the beam meets the required tolerances is something they did not anticipate is well, just obtuse. It is also revealed that far from missing some "thermal switches and semiconductors" it now turns out they don't even have some of the essential critical components (see note 1). In my view it's time heads rolled.