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The ironic thing about this AIM market is that whilst cpx should be much higher & no doubt will rise if successful with the summary judgement it would probably reach much higher values on the back of a rumour on reddit that musk sold his bitcoin to pay a forthcoming multi million dollar lawsuit. I'm not sure which one I'd rather come to fruition!

Based on the definition below best outcome will be a settlement or as in the words of OS this could drag on forever! Musk has even sold his bitcoin billions to pay up.

What happens if you lose Summary Judgement?

If you win the summary judgment, then you get to do exactly what you were trying to do before the motion was ever filed, which is progress your client's case towards litigation with a chance of settlement. If you lose, then you can either file for an appeal or tell your client to give up – but who would do that?

I wouldn't be that optimistic bimini. The first time summer was mentioned was early March therefore I believe they were referring to BST end of March to end of October being 7 months. The fact they missed out on £4m of funds from the 16m 25p warrants not being exercised resulted in a fund raise. This demostrates that the holders of those warrants weren't interested in providing financial support unless more shares with new extended warrants attached were forthcoming. There's no doubt about it they haven't got a handle on timescales and that is one hell of an understatement and are completely dismissive towards PI's. Their priority is to keep raising funds to pay the experts trying to complete this machine which will happen then mission accomplished for this lot. There is no way they could run a business to sell, manufacture, install and commission systems to provide medical services in the form of proton therapy on a global scale. I've held too long to sell now and in any case I still believe at these levels there is money to be made when the machine is completed so I'll be waiting but if it goes beyond October.........!!!

With the unpredictability of AIM I wouldn't be surprised that whatever is behind what appears to be over 4m shares sold ends up being good news and just leaves you more baffled and confused as to how these markets work. With so many more shares sold than bought and a slight increase in the sp at the end all is not as it appears with these trades!

Thanks after all that has gone on in the past you would think they would be clearer and more transparent with timescales. Personally I think it stinks to use the term summer and I would ask the question in a way that remininded them of those past timeframes. There is no doubt major investors including institutions know more and have been rewarded with 25p warrants equal to their recent funding probably to cushion the blow of earlier warrants expiring or being set at a much higher price. Funny that no rights issue with 25p warrants is ever offered to PI's. Having said that I welcome the information on the website showing the progress of the machine it is just the accountability for what they communicate is so poor. As I've said before it is why I think that when they have a working machine a proper company will come in and take over the execution of the next stage of manufacturing, installation and service delivery.

Thankfully Tesla have been named as the owners of Maxwell in this case which is good news because if the liability had shifted to the new owners UCAP and significant damages are awarded there would be as much chance of recovering the monies as getting paid by Ioxus

I don't know if the 19th July expiry date includes tomorrow's trading day but if we don't hear any news by then it looks like the recent raise is intended to see them through to 230MeV. I never did like the term summer used for a timescale if you do go to the agm BB and we still haven't had any news can you give them a grilling as to why they can't specify calendar qtrs infact ask them will it be Q3 otherwise we're looking at the flexible summer timeframe going into October

With both parties having filed summary judgments and maxwell having submitted 2. It might be that these are infact for discrete issues rather than the case as a whole. If so the outcome of these may determine the merits of a settlement prior to a court trial. Still many unknowns on this one and the wait goes on but it does mention a response due by 29th July so maybe we'll find out then

Don't know who the warrants belong to but below is the table from the 31st August 2021 RNS and from subsequent RNS's you can see about 4.5m 25p warrants have been exercised therefore leaving approx. 16m. This would have provided AVO with £4m of funds but now the recent fund raise has taken place to fill this gap I'm not overly optimistic that we will get news before the 19th July. If not at least the overhang of these warrants will have been removed although many more have since been issued and when the news does land there is a better chance of support for a higher sp with less 25p shares hitting the market.

Clarification regarding warrants



The following table summarises the warrants that remain in issue. The details in the table below are in accordance with the previous announcements made by the Company, although the dates of two outstanding batches of warrants have been incorrectly reflected in the last annual report due to a typographical error.



Issue Date

Final date of exercise

Exercise price

Number of Warrants

20-Jul-17

19-Jul-22

25p

20,468,687

26-Apr-18

25-Apr-23

70p

1,000,000

31-May-18

11-Jun-22

50p

450,000

31-Aug-18

31-Aug-23

100p

2,617,312

07-May-19

07-May-24

100p

3,500,000

31-Oct-19

31-Aug-24

100p

385,000

28-Jun-20

28-Jun-25

50p

5,000,000

Total

33,420,999

I think the timing of your purchases may turn out to be a wise investment. I tried the same approach of buying lots (at too high a price as it transpired) as the price was falling from all time highs years ago but the sp just kept on falling but fortunately I have been able to considerably lower my average by buying quite a few in the 20s.

The situation is very different this time around with visible progress of a nearly completed machine. Not sure how the sp will respond if news arrives this week with 16m 25p warrants due to expire on the 19th July but after that there could be a significant gain from these levels.

That is an excellent average BB unfortunately as I have not sold any since my original purchase some 7 or 8 yrs ago I've an average about twice that although, my HL account shows much lower as it doesn't take into account the share consolidation. I also have what I consider a significant holding a little less than you and my expectation is that this could easily be between £2 & £3 when those milestones are achieved and a full order book for the next few years of somewhere in the region of 16 systems. Still a long way to go and achieving 230MeV will be a huge breakthrough

No doubt cpx is becoming one of the better companies on aim and looks like it will deliver on the numbers going forwards. Why the sp isn't much higher based on what is currently being achieved is probably down to the aim market. At some point this will change and positive news on the court cases or securing a large deal within the 50m pipeline should result in a sp much higher than the broker forecast of 13p. Whilst it's taken some time to get to this point it's much easier to be holding these feeling confident and more certain of future prospects

That's what I did at 22.5p hoping it will get me back to break even on my entire holding soon

No problem & good luck with any investment I've been holding for years and added many times but still holding quite a few at a loss and hoping for better days soon.

From the Chairman's statement in the final results. It's also been mentioned FDA approval will be granted first followed by MHRA and CE but precise timescales unknown.

Everyone here is quite rightly just focussed on 230MeV and what impact that has on the SP. We'll worry about the other stuff after this ground breaking, long awaited never to be believed or seen announcement! Not sure about 19th July date following the last money raise....could be a long summer!!

We have continued to work with our clinical collaborator (the University Hospitals Birmingham NHS Foundation Trust) and Clarivate, a global analytics company, to define the clinical protocol for treating the first patients. These discussions have been held in close coordination with the FDA, the UK Medicines and Healthcare products Regulatory Agency (MHRA) and the European Notified Body, which we consult with on a regular basis. As a result of these discussions, the Company has been requested to provide new measurement data to confirm that the beam performance is maintained within the required tolerances for the clinical use both in terms of energy (i.e. depth in the body) and intensity (i.e. number of protons per second). Although these measurements have not been conducted with the final configuration for 230MeV, they indicate that the beam stability is not a cause for concern in the planned final configuration, a key step which is expected to de-risk the overall certification process. This request originates from the fact that the key LIGHT components are now assembled in situ at Daresbury and the underlying parameters have been optimised in recent months as the Company performs the verification and validation activities, a key step in ensuring product certification.

Still there:

https://www.cap-xx.com/products/cylindrical-cells-overview/#1594728461484-8780f652-9914

I guess the £1.5m loan has been repaid with the remaining funds hopefully sufficient to last until 230MeV. Couldn't agree more about the warrants and whilst they seem overly generous getting funds in this current climate has to be viewed as a positive though through gritted teeth. Still maintain 19th July is important with the 16m 25p warrants expiring and avo miss out on £4m. Maybe this raise is to fill that gap and another delay encountered. Announcing only 1 module remains to be rf conditioned without narrowing the summer timescale is not one for confidence building. As ever with avo hope for the best but expect the worst. Surely one day soon we'll see that rns and the relief for lth's here I for one will definitely be celebrating regardless of what happens to the sp. Will be nice to see discussions about how the next phase of commercialising light is progressing and seeing details of signed contracts and a growing order book.

Shares in green energy haven't been doing very well just lately & this has probably negatively affected cpx. The annoying thing is when those shares boomed cpx didn't rise to those crazy valuations. The key thing here is that cpx will soon release positive numbers based on real customer orders for applications that are being used now and are growing. Most other green energy based companies particularly the hydrogen energy sector are nowhere near as commercially advanced similar to where cpx were a few years ago. Hopefully positive numbers will allow cpx to differentiate itself and break out of the general market view that the green energy sector might be some years away from becoming profitable.

Trying to be optimistic maybe they are waiting for fda approval before announcing operation at 230MeV. Otherwise it is taking rather a long time to complete the final CCL rf conditioning.

I'll revise the switch on date to before the 19th July as that is the actual expiry date for the remaining 16m 25p warrants. Hope there is plenty of demand for shares to not only absorb these but also sustain a much higher price than where we are at present.