Tom Winnifrith often reminds us that if we owe the bank a quid, we are in trouble, but if we owe the bank a million quid it is the bank which is in trouble. In the case of AIM-disaster Advanced Oncotherapy (AVO), the debt is £10 million – which it cannot repay by the settlement date as it is running on vapours.
Advanced Oncotherapy (AVO) has raised another £1.37 million via the issuance of secured convertible loan notes. Great. £6.345 million of such CULS have now been issued but such is the profligacy of this abomination of an investment that this money will last for only a few more weeks. By the end of May the Fat Lady could well be singing. So who would benefit from that?
Over the the past decade Nigel Somerville and I have warned folks about this dog with fleas, almost as many times as I have had inappropriate thoughts about Cheryl Cole. With the shares in the minus 99% club, I guess we are already vindicated but today comes yet more bad news for Advanced Oncotherapy (AVO). As Old Mother Mike Walters, who is the sort of man who would have tipped this cash guzzling POS which has deceived its investors on a serial basis, would have said as he apologised for another duff share tip: “Oh dear, Oh dear” We start with the dreaded words “strategic review.”
Paid for researcher Hardman may keep on telling mug punters that AIM-listed Advanced Oncotherapy (AVO) is a great company with a target price of gazillions, but the reality is that this cash-guzzling outfit which keeps on failing to deliver any income, is running out of funding options as the price crashes ever lower. Just how bad could it get?
The shares are now just 4.25p, down another 32% today. The bare facts are that Advanced Oncotherapy (AVO) is running on fumes. If it does not raise fresh funding asap the Fat Lady will be called in for an emergency gig very soon indeed. The problem, as we have noted many times, is that par value is 25p.
It seems that no amount of ramping can help AIM-listed Advanced Oncotherapy (AVO) now. The company is in deep shit – and has essentially admitted as much. I would suggest also that the recent note from pay-as-you-go “researcher” (to be polite) Hardman is also an almighty sell signal. At the root of the problem is the cash-guzzling nature of the business, but with a 25p par price and the shares now at just 7.5p it is clear that shareholders are about to take a bath. Or the whole shooting match could follow fellow proton therapy outfit Rutherford Health (RUTH - ex-of the Aquis lobster pot) to the great central bank in the sky. Anyone holding is, in my view, insane.
Each month, Advanced Oncotherapy (AVO) needs between £1 million and £2 million to keep the lights on. And to date, each month Odey Asset Management has been writing a cheque, buying shares at 25p (par value) to keep the show on the road. But the shares are slipping and is this farce about to end prompting a share price collapse?
Paid-for investment "research" prostitute Hardman has released an update on AIM-listed Advanced Oncotherapy (AVO). This means that 1) the company is desperate for cash (no surprises there!), 2) a placing is on the way and 3) that Crispin Odey is sweating over his multiple purchases at a premium at 25p per share when the shares were trading below the 25p par price, given that they are now worth just 11.25p per share. I have much time for Odey, but he has surely called this one spectacularly wrong on multiple occasions.
We all know AIM-listed Advanced Oncotherapy (AVO) faces a funding crisis: it was sending around £2.6 million every month to the great central bank in the sky during the last reporting period, the interims to June 2022, when it had just £2.5 million of cash left over. Worse still, only a fool (step forward Crispin Odey?) would pay the par price of 25p for equity trading in the market now at just 12.25p. So without a capital reorganisation, the company is truly skewered.
I have commented extensively on this issue. I cannot understand how Odey is not both creating a false market in shares in Advanced Oncotherapy (AVO) – so inflating its AUM - but also knowingly and deliberately losing money for clients. I have written to the FCA asking it to examine the matter
Request that you investigate Odey Asset Management over share dealings in Advanced Oncotherapy
AIM-listed Advanced Oncotherapy (AVO) has announced that it has raised another £1.5 million from an existing institutional investor at 25p per share, the par price below which the law prevents the issue of confetti. With the stock having closed last week at just 16.75p, this is surely pure madness on the part of that institutional investor – who we are reliably told is none other than Crispin Odey. How his compliance officer is allowing this, heaven only knows.
Study showcases the potential superiority of LIGHT! Shouts today’s RNS from Advanced Oncotherapy (AVO). That would be the LIGHT Proton system that is not yet up and running? Yes that one. Great. So, who did the study? Er…
I do not believe that Advanced Oncotherapy (AVO) will ever generate a cent of positive free cashflow as the demand for the proton therapy services it will offer at some point in 2023 is, in my view, already fully catered for with existing capacity. Others, notably a fund management firm run by a chap who looks remarkably like Daddy Pig, father of Peppa, disagree but what we might agree on its that, until late 2023, there is no doubt that Advanced will continue to guzzle cash. Which makes the next bailout placing only a matter of time.
AIM-listed Advanced Oncotherapy (AVO) has announced yet another fundraise – this time for £6 million (before expenses) for the issue of another 24 million bits of confetti and associated warrants at 25p – the par price of the shares (below which it is not permitted to issue stock). The grateful recipient of the latest round of paper? Step forward clients of Odey Asset Management as Crispin Odey’s outfit doubles down yet again.
AIM-listed Advanced Oncotherapy released its interim results to June 2022 this morning – deadline day (never a good sign). The numbers are horrific – and so it seems are the prospects!
The end of August is generally regarded as the end of summer here in the UK, but the official date for the beginning of autumn is actually September 23 for this year. It is a moot point for most, but not so for AIM-listed Advanced Oncotherapy (AVO) – which had been promising that its first LIGHT medical proton bean unit would be up and running by the end of the summer.
The real problem Advanced Oncotherapy (AVO) faces, as I explained here, is that there is not enough demand for its Harley Street proton centre to make a profit even when its LIGHT system is up and running. But for now, LIGHT is not up and running, the company is guzzling cash and that brings us to today’s latest keep the LIGHTs on fund raise. Advance really is taking the piss with its excuses.
