Advanced Oncotherapy – are the wheels coming off the Yantai white knight bailout?

Yesterday AIM-listed Advanced Oncotherapy (AVO) announced that the Long Stop Date for the completion of a Distribution Agreement with Yantai Cipu, already extended to 31 March, had been exceeded but discussions were continuing. This deal also involves the payment of £16.5 million to Advanced and it seems the cash is yet to arrive – indeed I wonder if the £13.5 million subscription cash arrived. That in turn leaves me wondering, yet again, what the cash position at Advanced is – and what about the £5.5 million Blackfinch loan which should have been repaid at the end of March (and is secured)? Are the wheels coming off the white knight rescue? Surely a full statement is needed?

Advanced Oncotherapy (#AVO) – Chinese authorities have authorised Yantai Cipu’s £13.5m subscription for shares

Why announce now? Advanced Oncotherapy (#AVO) says on schedule with development of LIGHT machine

Advanced Oncotherapy - saved by oriental white knight, but for how long?

With a litany of Red Flags behind it, you might wonder that AIM-listed Advanced Oncotherapy (AVO) has managed to raise any money at all, but this morning’s news is – it seems – good news. Cash coming in (and large quantities of it) should pay down the payables nicely and give the company some breathing space – although we are told that the cash is still in China awaiting approval to be shipped out by the authorities. Followers of the ShareProphets AIM-China Filthy Forty might consider that as an indication that the completion of the deal is rather open to question.

Advanced Oncotherapy (#AVO) – proposed £30m China distribution agreement & investment, to raise £7.4m at 30p

Advanced Oncotherapy Interims: cash-guzzler extraordinaire but the tank is empty

AIM-listed Advanced Oncotherapy (AVO) has released its interims results on deadline day. The highlights (if that is the right word) come from the cashflow statement, where cashburn appears to be almost £2 million a month. And then there is the company’s statement of working capital which, although technically correct, is a grossly misleading figure.

Advanced Oncotherapy – interims preview

Joining in with Cynical Bear’s run of interims previews, I thought I’d take a look at our old favourite, AIM-listed Advanced Oncotherapy (AVO). The history here has been nothing short of a disaster in the last 12 months or so, and appears to be now culminating in a potential cash-crisis.

Advanced Oncotherapy – is a family member of boss Dr Mike Sinclair worth £269,265?

Shares in AIM-listed Advanced Oncotherapy (AVO) are still languishing well below the par price of 25p and the company must surely by now be running pretty low on cash. But a look at the FY16 accounts throws up some interesting questions over remuneration.

Advanced Oncotherapy – how’s the cash position? Still a stonking SELL.

After a stack of RNSs earlier this year, it has all gone quiet at AIM-listed Advanced Oncotherapy (AVO) since the announcement of the termination of the Bracknor death-spiral. How’s the cash position?

Advanced Oncotherapy – ignore director buying, it’s a spoof

AIM-listed Advanced Oncotherapy has announced a director buy of 100,000 shares (about £17,750 worth). Dr Enrico Vanni, a NED, has gone into the market and hoovered up a few more shares to add to the series of shares acquired earlier this year as the company tried (and failed) to defend the 25p (par) share mark in the face of the Bracknor death spiral sales. Now he’s back.

Advanced Oncotherapy - technological milestones, but what about cash?

AIM-listed Advanced Oncotherapy (AVO) has announced that the final Coupled Cavity Linac (CCL) module (part of the LIGHT system) is ready for shipment to the company’s Geneva Testing facility. All very good news, no doubt, but what is the cash position of the company?

Advanced Oncotherapy – what is the position re Bracknor? Has it been paid off?

Tom and I covered this the other day, but I wonder whether we’ve missed a trick with regard to AIM-listed Advanced Oncotherapy (AVO) and its dealings with death spiral sharks Bracknor. Immediately prior to last week’s funding news my back-of-an-envelope calculation was that Bracknor still held £1.95 million of loan notes and a further £0.7 million from fees. Given that Bracknor held little (if any) shares, why has it not beaten a hasty track to get the loans converted so that it can sell into the resulting strength?

Advanced Oncotherapy – Bracknor gone, new loan for £3.9m. Is all suddenly rosy in the garden? Er…

AGM day for AIM-listed Advanced Oncotherapy (AVO) and it has pulled something out of the hat. The shares have shot higher, death spiral outfit Bracknor is history and Advanced doesn’t look like going bust now for at least 4 months. But is the deal as good as believed? Er..no.

Advanced Oncotherapy now just 10p to sell. When will Bracknor walk – or has it already?

Cynical Bear wonders whether there might be a read across to AIM-listed Advanced Oncotherapy (AVO) from today’s news from suspended-pending-clarification Kin Group (KIN) in the wake of its announcement that its funding partner had walked because the share price had fallen so far. Certainly, given the cash-back situation for any loan note conversion by Bracknor into Advanced shares there looks to be a point at which the situation breaks down..

Advanced Oncotherapy - is that the whiff of panic I smell at death spiral provider Bracknor?

Shares in Advanced Oncotherapy (AVO ) are again tumbling on this fine summer's day. Oh what joy it is to be alive. 350p at peak ramp less than two years ago, they are now just 10.75p to sell. Ouch, I just love the smell of burning share certificates belonging to Bulletin Board Morons in the morning. So what crisis looms? Take your pick.

Advanced Oncotherapy - the ramps become ever more pathetic - today's reeks of desperation

The stench of desperation at AIM POS Advanced Oncotherapy (AVO) is overpowering.It knows that insolvency looms, that the money is running out fast ( within weeks?) and that a blizzard of share sales from death spiral provider Bracknor will obliterate the share price in the last few days. The board know it. The advisers must know it. But they cannot bring themselves to admit it. The pretence goes on for a while yet. And thus today we have an RNS.

Chance for death spiral spivs at Bracknor to flog more shares, Advanced Oncotherapy (#AVO) has new video about Harley Street - yawn!

Advanced Oncotherapy - letter to Financial Reporting Council re uber dodgy accounts

In a sense this is not that relevant as Advanced Oncotherapy (AVO) is within a couple of months of running out of cash and going tits up but on a point of principle I have written to the my very good friends at the Financial Reporting Council as there are aspects of Advanced's 2016 annual report and accounts which stink more than a pile of rotting kippers left out at a sewage farm in the scorching midday heat. The letter follows:

Advanced Oncotherapy – Annual Report published: Guess what?????

AIM-listed Advanced Oncotherapy (AVO) has released its full Annual Report. Having looked yesterday at a few things I thought it would be worth a second look – especially in the light of a clean audit report from RPG Crouch Chapman. Mea culpa to myself and Tom who expected something different, but hang on a minute…

Advanced Oncotherapy – when the Final Results don’t tell you everything you need to know

AIM-listed Advanced Oncotherapy(AVO)  has released its final results RNS for 2016 with four days to go before deadline day  Bully for Advanced. But there are no notes to the accounts and why is there no no auditor’s statement – the very things that we were looking for. What is the company hiding? We are told that the report WILL be made availlable on the website but hang on...this is crucial!