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Even a few of our detractors have now come around
AIM-listed Advanced Oncotherapy (AVO) has announced that Odey Asset Management is coughing up another £4.5 million as part of a £6 million fundraise to add to its investment in March of £2 million, again at 25p a pop – the par price. So is this an act of faith by Odey, or a case of if you owe the bank a million quid then it is the bank which has a problem?
AIM-listed Advanced Oncotherapy (AVO) is certainly keeping its Brokers – SI Capital and Allenby – busy. Only in April the company raised £1.7 million, although the funds weren’t in the bank when the announcement went out. In March the company rattled the tin for £2 million – plus an additional loan of another £1.5 million. Now it has rattled the tin once again – to raise just £800,000 (before expenses) as the company strains to keep its head above water.
AIM-listed Advanced Oncotherapy (AVO) has updated the market this morning on progress towards its first fully operational LIGHT system. The news is, for a change, good in that there is no further slippage. But will that last?
On 12th April 2022 AIM-listed Advanced Oncotherapy (AVO) announced an equity fundraise of £1.735 million at 25p a pop – a premium to market, but only at par price. We were told that the fundraise has been conducted through a direct subscription with the Company (the "Subscription") for a total of 6,940,000 new ordinary shares. So the money was in the bank, right? Wrong….
AIM-listed Advanced Oncotherapy (AVO) finally announced the fundraise that was obviously coming yesterday – at 25p, the nominal price (and the lowest price allowed by law). But the funding round is inadequate and the company will have to return to rattle the tin once again in a couple of months’ time.
Yesterday all of you said i should sack him. But the sad old geezer has texted me today. I relay what he wrote and ask, in today’s edition of the Moral Maze, if I should still sack him? The answer I think you will give, bears direct relation to both musicMagpie (MMAG) and Advanced Oncotherapy (AVO) which I discuss. I also cover Petropavlovsk (POG), Amala Foods (DISH), Zak Mir, Richard “Nobody Likes me and I do not care” Jennings and Lift Ventures whose IPO seems not to be quite as “imminent” as Zak told us it was two months ago.
I start with a few words on some odious remarks made by Ukranian President Zelensky and a few more on Radio 5 Live Rugby commentary which was just so bad it was off the scale. Then it is onto share buying which is a sell signal, referencing two Nigel articles this weekend on UK Oil & Gas (UKOG) and Advanced Oncotherapy(AVO) but bringing in incidents at Amur Minerals (AMC), Nanosynth (NNN) when it was the Strat Aero fraud and Jim Mellon’s Condor Gold (CNR)
I noted at the beginning of this month that AIM-listed Advanced Oncotherapy (AVO) needs to get a fundraise away pronto, but that its shares were threatening to drop below the nominal price of 25p, below which it cannot issue new shares by law. On Friday the shares closed at 24p (mid) and I would suggest that Advanced – or, rather, its shareholders – have a big problem.
AIM-listed and surely sort of cash Advanced Oncotherapy (AVO) announced yesterday morning that Prof Stephen Myers, executive director and the chairman of ADAM – Advanced’s development team in Geneva – had bought a total of 140,000 shares. At 27.64p (on average) that is £38,700 worth of stock. It sounds quite impressive, but this is certainly not a situation where it is advisable to follow director buying. In fact, I take the opposite view: the shares are a sell.
AIM-listed Advanced Oncotherapy (AVO) has announced that its first proton beam therapy unit at Daresbury has once again been delayed. First it was due in 2021, then the end of 2021, then Q1 2022….now we are told more tests during Q2 and then finalisation of the integration of the remaining high energy accelerating modules and reaching the 230MeV target over the summer. That sounds like Q3 for Mr Godot to finally make an appearance. Or not.
Happy St David’s Day and happy pancake day. I start with the spread betters and Russian stocks notably Petropavlovsk (POG), Eurasia (EUA) and Polymetal (POLY). Then I look in detail at MGC Pharmaceiticals (MXC), how it legged over investors in November and is a massive short even now before turning to Vast Resources (VAST), Advanced Oncotherapy (AVO), Cellular Goods (CBX),Novacyt (NCYT) and Avacta (AVCT) my big sector short which has seen its shares collapse to 46p but could easily halve again within weeks.
I see that shares in AIM-listed Advanced Oncotherapy (AVO) are down to just 26.5p – only a penny and a half above the nominal price. Normally that might not be an issue, but Advanced is a serial non-deliverer of promises and has had to place at regular intervals until now. So what chance a bucket-shop placing to keep the lights on whilst we await the ever-delayed first LIGHT system to even offer a sprinkling of hope for some revenue?
Well surprise, surprise! AIM-listed Advanced Oncotherapy (AVO) has announced that the first fully operational LIGHT system has been delayed from the end of this year to the end of Q1 next year. I noted HERE that the delay announced this morning was pretty well baked in. Given that we have moved from “could slip into Q1 2022” to “around the end of Q1 2022” in the space of less than two and a half months, it seems to me that further slippage is highly likely. Indeed, despite this morning’s announcement, one wonders whether any progress has been made at all since the announcement of diabolical interims at the end of September. So there will be at least another quarter sans revenue……what about the cash?
Oh dear, oh dear, oh dear. AIM-listed Advanced Oncotherapy has announced its interims to June: the numbers are predictably dreadful but the killer is surely the indication of a delay to the completion of the company’s first proton therapy LIGHT system.
AIM-listed Advanced Oncotherapy (AVO) announced yesterday, Friday 3rd September, that funds due in to settle the subscription announced back on 11th August would not be arriving in full for up to an additional two weeks. Yet on 31 August – just three days previously – the subscription shares were due to be issued on Friday. Hmm.
Back on August 17th I pointed out that according to AIM-listed Advanced Oncotherapy’s FY20 Annual Report, all the warrants exercisable at 25p issued back in July 2017 should have expired. Yet the night before, after-hours, the company had announced the exercise of 500,000 of those warrants. Last night the company slipped out an explanation at 6.14pm in its Result of GM announcement.
Here is an odd thing: last night, after hours at 4.48pm, AIM-listed Advanced Oncotherapy (AVO) announced that someone had issued an exercise notice in respect of 500,000 warrants issued back in July 2017 to subscribe for ordinary shares at 25p. Application to admit the shares has been made and admission is expected on or around August 20th. So what, you might ask. And that brings me to Advanced’s Annual Report for FY20.
Who is Negma the death spiral provider to the fraud Supply@ME Capital (SYME). Negma probably thinks all its Christmas have come at once and cannot believe its luck being able to flog so many shares onto moronic mug punters thanks to a recent, utterly unjustified, rally? Well here are a series of remarkable coincidences for you to consider.
AIM-listed protons beams for cancer outfit Advanced Oncotherapy (AVO) announced a proposed £40 million fundraise yesterday – the largest to date – at 40p per share, a 17% premium to its average closing price over the past month, and a 13% premium to the previous close. I have to hand it to the company, that’s a great effort. But does it make the shares a buy?
When I last wrote about AIM-listed Advanced Oncotherapy, at the end of October last year, it had just announced a placing at 30p per share to raise £7.7 million and my back-of-a-fag-packet suggested that despite the new money, it was placing ahoy. Well, yesterday that placing duly arrived with £6 million raised at a rather more impressive 40p. So will this be the last time the company passes round the hat?
AIM-listed Advanced Oncotherapy (AVO) has announced a fundraise at 30p to raise £7.7 million (before expenses) – as predicted HERE by yours truly. Time for another glass of Ouzo, methinks.
Yesterday AIM-listed Advanced Oncotherapy (AVO) announced a new joint broker in the form of SI Capital. Today we have a ramptastic update…..should we draw a conclusion?
I see that AIM-listed Advanced Oncotherapy (AVO) has appointed a new joint broker, in the form of SI Capital Ltd. Normally for an AIM-listed company surely one broker would be enough – unless someone wants to rattle the tin.
It was announced this morning that AIM-listed Advanced Oncotherapy (AVO) has drawn down an initial $10 million on its secured convertible loan package totalling $30 million with Nerano Pharm – a financing vehicle wholly owned by significant shareholder Seamus Mulligan. So is this a death spiral, and what’s the catch?
I cannot help but notice that shares in AIM-listed Advanced Oncotherapy (AVO) have fallen below their par value of 25p. For some companies this would present a bit of an embarrassment but for cash-guzzling AIM Casino plays with zero income it is surely a disaster. Since it's hard to see how a GM could be called in the current environment, will Advanced simply run out of (other peoples’) cash? And then there is the small matter of construction at Harley Street, which must be a tad tricky at the moment. On 20th February I noted the following:
I suspect that ShareProphets readers already know the answer: that the news is really not all that great and thus it looks like a ramparoonie of the first order! Surely it could not be placing ahoy, could it?
Nigel Somerville is too nice a guy to ask if a company has been a very naughty boy indeed. I am not. I note his piece earlier on Advanced Oncotherapy (AVO) and it seems obvious that, while Nomad Allenby probably does not give a flying feck, the question should be asked. And so I have written to the Oxymorons at AIM Regulation asking them to investigate
AIM-listed jam-tomorrow cancer treatment purveyor Advanced Oncotherapy (AVO) announced yesterday that it had signed up The London Clinic to run its Harley Street clinic proton therapy centre which is under construction. Well, sort of: the deal had reached a Memorandum of Understanding. This is course good news – except that it had already signed up Circle Health to run operations, and I fancy the real reason for yesterday’s RNS was revealed in CEO Nicholas Serandour’s comment where he reveals that the previous deal with Circle Health has lapsed. I wonder when Circle walked……
At the Woodford Patient Capital Trust (WPCT) AGM this year that scallywag Neil Woodford suggested that if I had any interest in beating the disease that would incdeed kill my dear Uncle Chris within weeks, that is to say cancer, I should be getting behind the joke company Rutherford Internationbal (RUTH) into which he had spunked vast amounts of other folks cash. This is a common meme among shameless promoters.
AIM-listed Advanced Oncotherapy (AVO) announced a fundraise on Wednesday – great news! Or is it? I wonder how much cash it will actually have when all the money comes in – and why, AFTER the fundraise, did researcher-for-hire Hardman produce a report telling us all what a bargain the company is? Then there are loan and outstanding salary conversions and the total – £18.4 million – is still short of a year’s spending, and won’t all arrive until the end of September. It looks a bit desperate – especially when the loan to top up the equity raise will cost up to 15% a year in interest.
I start with a few notes on tomorrow, logistics and the funeral of Uncle Chris Booker. Then it is onto Yourgene (YGEN), Thomas Cook (TCG), Advanced Oncotherapy (AVO), Amur Minerals (AMC), and the dog St James House (SJH) formerly known as the Boxhill hound.
In today;s bearcast I discuss Alpha Growth (ALGW), Advanced Oncotherapy (AVO) and Optibiotix (OPTI) as well as Spain, the latest crisis in the special place in hell that is the EU.
AIM-listed Advanced Oncotherapy (AVO) announced director and significant shareholdings this morning, following its latest fundraising in December and resulting share issues yesterday. But it seems that one of the directors has been – undisclosed – selling!
Shares in AIM-listed Advanced Oncotherapy are up by 30% today on the back of yet another technological update and a Flash Note from its paid-for research ramper-in-chief GPSL, the second in less than a week. Of course, yesterday the shares were down by around the same amount which all leaves me wondering when’s the placing?
AIM-listed Advanced Oncotherapy (AVO) released its FY17 numbers this morning. Looking through the numbers presented it is clear that the company was running on fumes last December. We are told that the company is in a stronger financial position since 31st December 2017 having secured £33.3m of financing post period end, but I wonder how much stronger?
AIM-listed Advanced Oncotherapy (AVO) announced this morning that Bracknor, the death spiral funder, still had convertible loan notes to swap for shares. This, despite the RNS of 19 July 2017 telling us that the Company does not intend to use the Bracknor facility in the future. As part of these arrangements the Company will issue 7 million warrants to Bracknor. These warrants are exercisable at 25p and may be exercised at any time over the next five years. Anyone would have thought that was the end of the matter. Apparently not.
AIM-listed Advanced Oncotherapy finally got around to updating the market over its Blackfinch loan which matured on 24 March and was secured on its Harley Street premises. But it seems that the company can’t tell the truth!
I start with the latest developments on Julie Meyer and hint at what is coming next from myself and also from John Galt. Julie you ain't seen nothing yet. Praise be the Lord. Then it is onto Westminster Group (WSG) and someone almost as loathsome as Meyer, that is to say ex Tory MP fat Tony Baldry. Then I look at Eden Reseearch (EDEN) which fat Tone knows well, Pantheon Resources (PANR), Advanced Oncotherapy (AVO), the tossers at the FT, Jubilee Metals (JLP) and other Beuafort Securities victims and Interserve (IRV) and the tools at the FCA.
As we know from AIM-listed UK Oil and Gas (UKOG), the best thing to do when faced with an awkward question is to move the goal posts. And so this morning we see AIM-listed Advanced Oncotherapy (AVO), rather than ‘fess up over its overdue loan from Blackfinch which is secured on its Harley Street premises, telling us that it has signed a lease with the UK Government’s Science and Technology Facilities Council to establish a UK testing site for its LIGHT (proton therapy technology) system. I wonder what Advanced is going to pay with!
And the next video is the bears with myself, the Dark Destroyer Matt Earl, the Bard of the Boleyn Lucian Miers and a cameo by Nigel Somerville on Advanced Oncotherapy (AVO). On the agenda Telit (TCM), Tesla (TSLA), Mitie (MTO), IQE (IQE), RM2 (RM2),Avanti Communications (AVN), AIQ (AIQ) and a good stack more.
AIM-listed Advanced Oncotherapy (AVO) has still not updated the market over its Blackfinch loan which was due to expire at the end of March, a loan which was secured on the company’s Harley Street premises. I also have doubts (still not answered) over the cash from China. But on re-reading through the note from Goetzpartners (which sent Advanced stock much higher on publication) I wonder if I have inadvertently been taking some of Tom Winnifrith’s mushrooms.
In the main bearcast of the day I start by asking what payoff disgraced Dave Whitby got at worthless insolvent POS Andalas (ADL)? And were mugs who backed the latest placing told where much of their cash was going ( i.e. to Whitby). Feel free to contact me if you are an Andalas owning mug. The fat Lady arrives at Nighthawk (HAWK) and looks to be in the wings at Nature Group (NGR) while new problems emerge at Imaginatik (IMTK) - a former Rob Terry fave but I speculate on bigger worries that the Quindell fraudster faces - and at Management Consulting (MMC). I think the fat Lady may well also have an appointment with Widecells Group ( WDC) shortly. I comment on 4 reasons why Advanced Oncotherapy (AVO) shares may be falling and on looming results at Optibiotix (OPTI), where we own shares.
So after my piece HERE wondering why AIM-listed Advanced Oncotherapy (AVO) was up 20-odd per cent it turns out that a research note was put out on the RNS system. The research note was from an outfit called Goetzpartners Securities Limited, which claims to be a leading pan-European investment bank and research firm. Right…. So who paid for this research, and is it worth the paper it is written on?
As yet AIM-listed Advanced Oncotherapy (AVO) is yet to answer my questions about the Blackfinch loan which is secured on its Harley Street premises and which was due to expire back on 24 March. It has also ignored my questions about the Chinese funding from Yantai Cipu as to whether any funds have actually arrived with Advanced. These two questions seem to me to be pertinent to Advanced's very survival, but all we have had is a wall of silence. You would have thought the market would get jittery, but out of the blue today its shares are up a whopping 22% (last seen).
Yet another day passes and still AIM-listed Advanced Oncotherapy (AVO) has not answered my questions, and so I ask again – now for the eleventh time. They are serious questions and with the wrong answers I would struggle to see how the company is solvent. But Advanced continues to ignore the questions. So here we go again….
And so yet another day passes and still AIM-listed Advanced Oncotherapy (AVO) has not answered my questions, and so I ask again – now for the tenth time as we head into double figures.
Yet another day passes and still AIM-listed Advanced Oncotherapy (AVO) has not answered my questions, and so I ask again – now for the ninth time…..here we go again:
Yet another day passes and still AIM-listed Advanced Oncotherapy (AVO) has not answered my questions, and so I ask again – now for the seventh time. At this rate Jeremy Paxman’s score of 12 (against Michael Howard) is in danger. I have had it pointed out to me that Paxo asked the questions face to face, and in that regard I can’t match him. But at least (now) Lord Howard had to reply – even if he evaded the actual question. Anyway, here we go again:
Yet another day passes and still AIM-listed Advanced Oncotherapy (AVO) has not answered my questions, and so I ask again – now for the seventh time. At this rate Jeremy Paxman’s score of 12 (against Michael Howard) is in danger.
Another day passes and still AIM-listed Advanced Oncotherapy (AVO) has not answered my questions, and so I ask again. What is happening with the Blackfinch loan which had a 12 month term starting on 24 March last year, a loan which was secured on the company’s Harley Street premises? And has the company actually received any cash at all from its white knight saviour Yantai Cipu in China?
This really is getting a bore. For the fifth time, I ask what is happening with the Blackfinch loan which had a 12 month term starting on 24 March last year, a loan which was secured on AIM-listed Advanced Oncotherapy’s (AVO) Harley Street premises. And for a fifth time I am asking if the company has actually received any cash at all from its white knight saviour Yantai Cipu in China. But first, there is a question raised by Drunken Sailor.
Ok this is embarassing but I will admit on tape what we were up to. It is our guilty pleasure and involves Deacon, Scarlett, Gunner, Avery and Will Lexington. Then I look at WPP (WPP) and the deeply unsatisfactory and unfair way Sir Martin Sorrell has "resigned" - this smells all wrong. Finally I look at why Advanced Oncotherapy (AVO) and Frontera (FRR) are not answering or evading questions - it is because they are both bad companies. If you like bearcasts then remember that at UK Investor on April 21 one of many highlights will be a live bearcast with myself and Paul Scott. Make sure you book a free ticket HERE using the promotional code WINNIFRITH.
My thanks to two eagle-eyed ShareProphets readers who have posted in the comments sections of my pieces asking about AIM-listed Advanced Oncotherapy (AVO) and its funding from Yantai Cipu in China, and the now expired, secured (on Advanced’s Harley Street premises), Blackfinch loan. We’ve still not heard a thing about either which is rapidly drawing me to a conclusion as to the answers. Not to worry: I’ll ask (for the fourth time) again tomorrow. But, with big hat-tips to Drunken Sailor and Daniel Victor, it seems that Advanced isn’t even getting over the line at Harley Street before two other proton therapy centres (one of which is up and running already) come on stream. It seems that first mover advantage has already been lost.
I have asked the same questions of AIM-listed Advanced Oncotherapy (AVO) twice before but there has been nothing forthcoming from Advanced Towers. Here we go again, on the day that marks three weeks from the end of Advanced’s loan from Blackfinch, a loan which is secured on its Harley Street premises and a loan which has not yet been announced to have been paid back. Advanced may be coy about answering, but it seems the market has been voting with its feet.
It is now a week into April, yet AIM-listed Advanced Oncotherapy (AVO) has not updated on its loan from Blackfinch which was due to be repaid – I thought – at the end of March. In fact, it appears that the loan matured on 24 March. Worse, the loan was secured on Advanced’s Harley Street site and, it seems, the equipment earmarked to be installed there. One wonders what would be left if Advanced lost that. Surely a statement is a fortnight overdue as to what is going on?
Not this one but one I recorded yesterday with my pal the king fraudster Sam Antar who created the original Panama Pump. Sam was on fine form and I shall unleash that podcast in a couple of weeks time but it was awesome. I pick up on a few themes from it and discuss Ascent Resources (AST), Advanced Oncotherapy (AVO) - read Nigel's brilliant piece, about a company where I own 1 share so I can attend GMs, HERE - and Strat Aero (AERO). If you like bearcasts then remember that at UK Investor on April 21 one of many highlights will be a live bearcast with myself and Paul Scott. Make sure you book a free ticket HERE using the promotional code WINNIFRITH.
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?
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.
Today Joshua and I have coffee with the fit young mums then we are off to go to his first business lunch. I have a work lunch and my boy is coming too. That is the deal for folks wanting to meet up on a Wednesday to Friday. I start today's podcast with ADVFN (AFN) and On-Line (ONL) talking pure 100% unadulterated crypto bollocks. Then it is onto Advanced Oncotherapy (AVO) - good news yes but given its track record of allowing insider dealing, misleading customers and investors and, arguably, wholesale securities fraud I would not buy. I look at The People's Operator (TPOP) and question the wording of today's RNS - the shares are 71% down but this could well be toast by Christmas - look at the wording again! Finally a few words on the latest news from the boiler room and the dog Sabien (SNT)
Cometh the day cometh the broker who will raise cash for any old shite even if it is bust both before and not long after the exercise, as long as it can hand stock at a huge discount to its mates so they can flip and earn lots of lovely jubbly commission as well. Peterhouse Corporate Finance meet Strat Aero (AERO).
Some companies are so transparent. I look at the RNS from Savannah Resources (SAV), do the maths and predict a placing within weeks. I then crow about one I called earlier, Applied Graphene Materials (AGM). Then it is onto Interquest (ITQ) which is back on the AIM casino thanks to Nomad Allenby, a firm that I take to task for being morally bankrupt. I look at Johnston Press (JPR) which is nothing to do with Luke Johnson who is also mentioned. I then look at Advanced Oncotherapy (AVO) and i3 Energy (i3E) as well as the dog Haydale (HAYD)
I must rush. The fit young mums are waiting. Ahead of that, Advanced Oncotherapy (AVO) really should comment on the weirdest rumour which I relay. Redcentric (RCN) answers one question but many remain. Then Sound Energy (SOU) hype takes the acid test of a trade sale of its Italian assets and the real value is exposed. Sound really is so much hot air. Finally a look at the CVA and rape of shareholders and creditors of Kin Group (KIN) by broker Peterhouse and the new, crony capitalist, directors.
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.
We know how much you all like a good competition - especially when there is no prize whatsoever! So with deadline day tomorrow for interims - and a good few still being worked on it seems - how many disappointments will we get by the close of the RNS system tomorrow night?
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.
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.
Links with Arsenal, massive cash burn, China, always missing goals (like the Arse) - that was BNN Technology (BNN), shares in which have been suspended today along with its CEO and China boss. I look at BNN in detail plus Telit (TCM), UK Oil & Gas (UKOG) after my weekend pieces HERE and HERE. I cover Blenheim (BNR) after its joke RNS today and also the dog Advanced Oncotherapy (AVO) after its latest spoof. The Mrs says my headline is crude & arguably homophobic, but I know you will love it and it is not if you take it in context.
It is all very well saying that tiddly little companies like Advanced Oncotherapy (AVO) or Eden Research (EDEN) are worthless cash guzzling frauds heading for 0p but they are just very hard to short. That both stocks will hit zero is a given. In the end frauds always run out of other people's money. What you want are stocks you can short which look almost certain to collapse. And right now you need them badly as a hedge. A hedge against what?
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?
Like Richard Poulden, CEO of PCG Entertainment (PCGE), I have a bit of time for Brian Kinane at Riverfort. As someone who believes in transparency and clear communication, my view is that Brian is trying to bring some of that to the world of small cap funding, particularly where the dreaded phrase “ death spiral” is concerned and there’s a few points here to be applauded. It still doesn’t prevent the obvious question being aimed at Mr Poulden though – WHY RAISE MORE FUNDS NOW?
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.
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?
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?
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.
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..
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.
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.
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:
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…
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!
Advanced Oncotherapy (AVO) shares have fallen from a ramptastic peak of 350p to just 13.5p to sell as at last Friday. But sell you should as I explained again today HERE. The question is what will the shares be trading at ( mid) as at next Friday which is a critical deadline. What do you think? Let's gloat on the professional graves of scumbag crony capitalist Dr Michael Sinclair, arch share ramper Alan Green and PR low life Paul "Queenie" McManus. With a deadline of 7 AM Monday 26th vote now in the poll below.
Yesterday I revealed to you the 18 shares I own and thanks for all the comments. For the avoidance of doubt that portfolio started at zero four and a bit years ago and we have more than trebled our money to date. It happens. But I lied to you, the portfolio is incomplete. I own two other shares.
AIM-listed Advanced Oncotherapy (AVO) has announced the latest death spiral on steroids conversion by Bracknor: £400,000 into 1.6 million shares. But with the shares sitting a country mile below the 25p nominal price they have to pay £190,000 back. That works out as 11.875p per share and thus means that Bracknor gets its new confetti at just (effectively) 13.125p. Not bad, bearing in mind that the lowest daily VWAP came in at 15.79p.
I have never seen a loan like this. It is sheer desperation from a company that faces imminent insolvency. Make no mistake, Advanced Oncotherapy (AVO) is on the way out and corporate death will occur very soon indeed.
Shares in doomed Advanced Oncotherapy (AVO) are now 15.25p to sell, compared to a 25p nominal price. That means that as death spiral provider Bracknor desperately tried to convert c£3 million on loan notes into shares to flog to eliminate its exposure under the spoof arrangement with Advanced it will demand fees of 40p for every £1 of loan note converted. As it scrambles to convert notes and flog shares before the fat lady waddles onto stage from the wings (where she is already warming up), the share price will continue to tank making things even worse. So what to do?
With its hand forced by my article HERE, Advanced Oncotherapy (AVO) has clarified, i.e. changed, the terms of its death spiral deal with loan sharks Bracknor. It states "This reaffirms Bracknor's prior and on-going support for the Company and its shareholders." Dr Michael Sinclair you are talking bollocks. It has changed a death spiral to a death spiral on steroids.
Wakey wakey Michael Sinclair and the other tossers who run Advanced Oncotherapy (AVO). Time to get out of the luxury gym ( membership fees paid by grateful shareholders) - you need to be issuing a statement don't you? Bracknor? 10 days? Capital Reorganisation? Ring any bells? Come on, call your useless PR man Paul Queenie McManus and tell him to stop promoting the Eden fraud and get a release ready for you.
AIM-listed Advanced Oncotherapy (AVO) has this morning announced another conversion of death-spiral loan notes by Bracknor. That is not news – there have been plenty already and there are many more to come. But for the third time in succession we seem to have different terms being applied. Surely it is time for the company to tell the market what is going on?
I can’t help but notice that in the wake of a couple of Bracknor death-spiral loan note conversions, shares in AIM-listed Advanced Oncotherapy have rather slipped again. Indeed, having scraped onto the 27.5p watermark on Monday last week (and thus avoided an EGM to drop the nominal price of the shares) as the result of spoof boardroom buying, it has been one-way traffic ever since, down to 22.75p last seen.
Well, well. How do you issue shares at a discount to par? Simple: pay a whopping fee to the subscriber. AIM-listed Advanced Oncotherapy (AVO) has announced another loan note conversion under its death-spiral funding package with Bracknor and a new fee seems to have appeared which might just derail discussions between the company and its auditor as they work on the going concern statement for the forthcoming FY16 results due out by the end of next month. Oh dear, oh dear.
Well this is most bizarre! Lobster-potted Bracknor has converted another lump of its death-spiral loan notes. That, of course, is not a great surprise until you study the detail of yesterday morning’s announcement from AIM-listed Advanced Oncotherapy (AVO), where we discover that the conversion shares have been issued not at the lowest daily volume-weighted average price of the past 15 days (21.35p) as per previously announced conversion terms, but at 25p (par price of the shares). Why has Bracknor elected to pay a 17% premium?
Well it looks as though D-day is today after all for the triggering of an EGM to drop the nominal (par) price of AIM-listed Advanced Oncotherapy (AVO) stock so as to allow Bracknor to resume its convert-and-dump operations. With the shares edging a little higher this morning, one is tempted to wonder whether some heavy boardroom buying might be enough to lift the shares back over the 27.5p mark just in the nick of time. But there is a fair way to go, with the stock still 2.25p short of salvation.
Under its Bracknor death-spiral funding package, AIM-listed Advanced Oncotherapy (AVO) has to call an EGM proposing resolutions to drop the current nominal, or “par”, 25p price of its shares by at least half in the event of 10 consecutive closes below 110% of nominal (ie below 27.5p). But the company has never defined the closing price used: is it mid-price, bid-price, offer-price at close, or perhaps some more convoluted closing daily VWAP (volume weighted average price) calculation? But one thing is for sure, the match is right next to the blue touch-paper. Is it today or Monday, fellas?
Advanced Oncotherapy (AVO) has announced that NED and highly respected senior clinical oncologist at Great Ormond St and Barts Dr Nick Plowman “will” invest £250,000 in the company – at 30p a share, a 36% premium to last week’s close. Why am I not convinced that this morning’s announcement is anything other than the most desperate of spoofs in a long line of spoofs here?
ShareProphets readers don't expect an immediate implosion on Advanced Oncotherapy (AVO). They're leaving it to Father Christmas to do the job. We asked you when the shares would hit 0p - you said!
AIM-listed Advanced Oncotherapy (AVO) has a calendar year-end and as such its six-month deadline to publish accounts falls on 30 June – the end of next month. That means getting an audit done which will involve, amongst other things, agreeing the Going Concern statement. Yesterday’s share price plunge might have more than a small bearing on how conversations go in that regard.
Shares in AIM dog Advanced Oncotherapy (AVO) closed Friday at just 21p. That is below the 25p nominal meaning that death spiral provider Bracknor cannot convert any more loan notes without taking a huge loss and, if that continues, it means the company will go tits up in the summer. Or the former Malcolm Stacey darling will need to approve a capital reconstruction to set a new nominal (2.5p?) which will see the shares plunge, so meaning Bracknor physically can't convert loan notes so Advanced will go tits up this summer. So when will its shares hit 0p or be suspended from AIM? Vote now in our reader poll - deadline midnight tonight.
You can’t say you have not been warned. This morning shares in AIM-listed Advanced Oncotherapy (AVO) have fallen firmly below the nominal 25p price of the confetti. Companies are not allowed to issue shares below their nominal price and that, in turn, means that for the time being Bracknor is lobster-potted with something like £2.5 million of convertible (death-spiral) loans which it cannot convert. My heart bleeds….
Oh dear. Oh dearie me. AIM-listed Advanced Oncotherapy (AVO) has released a TR-1 from institutional investor Aviva showing that it has been dumping shares and went below the disclosable threshold to 2.44% last Friday in terms of its directly held interests. It had a further 0.66% interest via loaned out shares. Meanwhile Advanced Onco shares today fell below the 25p nominal price of its confetti, leaving death-spiral funder Bracknor in a bit of a pickle just five days after ponying up tranche 2 of convertible loans which it can’t convert for less than 25p. Ouch.
The final two pages of listings of AIM-listed Advanced Oncotherapy (AVO) Exec Chairman, Michael Jeffrey Sinclair’s company officer posts on the OpenCorporates.com website add another 27 entities to our previous tally (after ignoring a further 6 double entries) of 113 appointments to bring the total up to 140 jobs in an illustrious career. And so we have the final scores-on-the-doors – as well as an interesting observation.
AIM-listed Advanced Oncotherapy (AVO) has announced this morning the drawdown of the second tranche of £1.3 million (nominal - £1.235 million after the 5% discount) on its convertible loan note (aka death spiral) package with Bracknor. Good news – the lights will stay on for a few weeks extra. But the second half of the statement is a bit of a puzzle, raising more questions than it seemingly tries to answer.
Well that explains it then! Yesterday I noted my amazement that AIM-listed Advanced Oncotherapy (AVO) had issued yet another ramparoonie director share purchase RNS on Tuesday and that the shares had raced back above not only the all-important 27.5p mark, but above 30p. Now we know why: Executive Chairman Dr Michael Sinclair was in the market filling his boots with 200,000 shares at an average price of 30.44p. Shame he didn’t pile in when the shares were hovering around the 26p mark so as to save himself a few quid.
We are nearly there. Hurrah! The OpenCorporates.com website lists 153 company appointments for a Michael Jeffrey Sinclair spanning some six pages. Today we move into page four to see how the rate of dissolutions looks.
At no-one-is-watching o’clock last night (5.48 pm) AIM-listed Advanced Oncotherapy (AVO) slipped out an announcement that it had drawn the £2m second tranche of cash available under its one-year loan deal with Blackfinch. With my maths suggesting that the company was close to running on fumes that extra £2m to keep the show on the road pro tem will come in handy.
Phew! 153 company directorships to plough through from the career of AIM-listed Advanced Oncotherapy’s Executive Chairman. He sure has been a busy chap. Actually the number is dropping slightly as a few more double entries come up on the OpenCorporates.com website – just as well. Having looked through the first 30 entries on Sunday (29 after sifting out double entries) and the same again yesterday, we come to the next 30 from our search of the career of Dr Michael Jeffrey Sinclair.
AIM-listed Advanced Oncotherapy (AVO) – teetering on the brink of having to call an EGM to reduce its nominal share capital under the terms of its death-spiral funding package with Bracknor – has announced yet another director share purchase, the fourth just this month (if we ignore the botched 7am RNS of 4 April). As ever, this is just a spoof in order to encourage more buying in the market so as to allow Bracknor to offload more of its death-spiral conversion shares as Advanced hopes and prays for the next £1.235 million tranche of funding before the coffers run dry.
Yesterday we wandered through the first page of search results on the OpenCorporates.com website to look at the record of AIM-listed Advanced Oncotherapy (AVO) Executive Chairman Dr Michael Jeffrey Sinclair. There are rather a lot – here comes page 2.
As shares in AIM-listed Advanced Oncotherapy (AVO) again sit below that all-important 27.5p mark which, if continued for 10 trading days, will trigger a EGM to reduce the nominal value of the company’s shares, a quick trip to the Companies House website reveals the debenture paperwork (HERE) related to the company’s recently announced loan deal (with spoof 100p conversion terms) with Blackfinch as announced on 27 March (HERE). Most of it is legalese, but on page 36 we get some cracking tit-bits. Such as the planned expenditure on the Harley Street premises (some £19.14 million) as against potential resale values of between £9.44 million and £10.71 million – and that is just for the kit and fitting, not for the value of the property itself. As security (including the property) for a £3 million loan (with an option for a further £2 million) it is quite something!
This morning AIM-listed Advanced Oncotherapy (AVO) announced another conversion by Bracknor. Having previously converted three lumps of £100,000 of death spiral loans, Bracknor has gone for £200,000 worth this time – but at the lowest price yet, just 26.74p. That leaves things looking decidedly sticky for the company, which got authority to issue Bracknor with enough loan conversion shares based on the assumption of an average loan conversion price of 44p and the associated warrants at 57p.
Under its death spiral funding package with Bracknor, AIM-listed Advanced Oncotherapy (AVO) has to call an EGM to seek shareholder approval to reduce the nominal price of its shares (currently 25p) by at least half if the closing share price is below 110% of nominal (ie 27.5p) for ten consecutive trading days. And that brings us to the latest spoof director share purchase announced this morning (which hasn’t worked: the shares are down 4% last seen this morning).
AIM-listed Advanced Oncotherapy (AVO) has this morning announced another loan conversion by its white knight death spiral funding provider Bracknor. The lack of liquidity of late makes it hard to imagine that Bracknor is having an easy time offloading. Meanwhile the shares have again slipped and now sit below the threshold at which an EGM to reduce the nominal price of the shares is triggered. Oh dear….
AIM-listed Advanced Oncotherapy (AVO) has announced a second conversion of death-spiral loan by Bracknor. As per the first conversion, it is £100,000 (nominal) but this time the conversion price was just 27.89p. Given that the recent EGM gave approval for the company to convert the full package at an average 44p per share that might mean a bit of a headache.
Following the botched Director Dealings RNS of Tuesday, this afternoon AIM-listed Advanced Oncotherapy has ‘fessed up to another foul-up. This time it refers to an RNS released way back on November 7th last year when the company announced that it had issued 266,668 new shares from the exercise of options at 87.5p per share. Except that it hadn’t.
It seems that AIM-listed Advanced Oncotherapy (AVO) is so desperate to get out any good news it can that it rushed out an RNS yesterday morning to notify the market of director buying and got the numbers wrong. Oops. Great work in checking and verifying there by Nomad Stockdale Securities.
Heck my family has been waiting 40 years for this day as I explain HERE you must allow me to have some fun! To the markets and I have a detailed look at Sabien Technology (SNT) which is talking absolute bollocks today, at Johnston Press (JPR) and then at China New Energy (CNEL), today's ramp of choice but which stinks to high heaven. Then I discuss whether I have been too harsh on Advanced Oncotherapy (AVO). The answer is that I have not been hard enough. Ahead of a GM on Friday which I am attending the stance remains sell with a target of 0p.
So after all the questions, AIM-listed Servision (SEV) has provided answers. The AIM Rule 26 pages have been updated (after a year, vs 6-months under AIM rules), the personal guarantee of head honcho Gidon Tahan to white knight investors Cascade has been clarified and yesterday lunchtime we even had a TR-1 showing that Cascade was indeed holding the shares issued to it at over 400% of the previously prevailing share price ahead of the announcement of the funding package. But I still think the whole deal is a massive spoof and here is why.
My father is being charmed and buttered up by the quacks at Warwick Hospital and I am off there shortly for a pre operation chat. Ahead of that I look at Tesco (TSCO) and its fines today - we really have got white collar crime all wrong in this country. Then I look at Genel (GENL), Tasty (TAST) which is really not very tasty at all, Advanced Oncotherapy (AVO) which is is utterly inedible and Sound Energy (SOU) where the issue is valuation. Surely the good news is in the price already?
It has arrived! My £52 costs and 32p investment in one share in AIM dog Advanced Oncotherapy (AVO) is not money wasted.
It seems as if my father has drunk all the ouzo. Who can blame him? But how will I celebrate if the fraud Cloudtag (CTAG) is booted off AIM today? Join in the fun with our Cloudtag termination clock HERE. Elsewhere I look at Bowleven (BLVN), gosh I loathe its management team, Advanced Oncotherapy (AVO), also run by tossers, and Strategic Equity Capital (SEC).
Ho ho ho. Even as it faces insolvency those wags at Advanced Oncotherapy (AVO) do so with a sense of humour as they try to spoof us all with news of an even more desperate financing which will keep the lights on until late June. Dr Michael Sinclair you should go on the stage. You really are a hoot.
I comment on the hopeless response of smug MPs and the established media to yesterday's terror attack on my own website in a podcast HERE. On the markets I look at expectations management at Next (NXT), at how we know or knew about the balance sheet at Toople (TOOP) covered HERE by Cynical Bear or Advanced Oncotherapy (AVO) heading for 0p and covered in detail by me earlier HERE. I look at Public Services Properties (PSPI ) and what its AIM casino departure says about RTOs and contingent liabilities - which reminds me again of New World Oil & Gas (NEW). Finally I have a detailed look at the strange world of Paternoster Resources (PRS), not a stock you have to own in any way. PS Cynical Bear is not me. Can you see any typos in his articles?
It is just eight days to the GM of Advanced Oncotherapy (AVO) where shareholders are being asked to approve the issue of gazillions of new shares for the Bracknor death spiral. Since the alternative is going bust within weeks if not days then the result is a gimme although I intend attending - as the owner of 1 share - to ask some searching questions. But the collapse in the share price - the stock is now 31.5p mid, 30p bid tells you there are even bigger issues and that Advanced is, quite possibly toast whatever.
Clearly this is the story of the day. I reflect on this from various angles. I then move onto Franchise Brands (FRAN) shares in which surged 16% forcing a suspension. No insider dealing here guv, walk on, walk on. Then it is onto Bowleven (BLVN), Yolo (YOLO), Starcom (STAR) which I may have called Starvest but I meant Starcom, Van Elle (VANL), Nyota (NYO) and finally the uber dog Advanced Oncotherapy (AVO) which is in freefall. Hah! Death spiral shylocks Bracknor your spoof is not working is it! On the subject of terror I mention that evil bastard Martin McGuinness.You should not speak ill of the dead but for this unapologetic murderer and for those in the media who praise him as a good man I make an exception HERE. Mr McGuinness was a wicked man who sought no salvation in apology and repentance and, if there is a hell, his soul is right now burning at the heart of it.
Dad and I got back from the hospital and were sitting down to lunch. water for me, wine for him. After a morning with a range of Shipmans he deserved it. Who should bound in but the vicar from our old village of Byfield. I told him that I had recently written an article about wringing his neck HERE. He then gushed out a stream of left wing views on Trump, Brexit and other matters that were so barking mad that even my Guardian reading father was a bit taken aback. A bitter attack on Uncle Chris Booker was the final straw. No wonder the CofE is going to the dogs. On the podcast that followed I cover Orogen (ORE) where we are in and backing Adam Reynolds again, Nyota (NYO), Audioboom (BOOM), Andalas Energy (ADL) and Advanced Oncotherapy (AVO).
Death spiral provider Bracknor does not buy shares in companies. It loans the desperate, cash at pound of flesh rates which it then converts into shares at discounted rates and flogs to mug punters. That is the classic death spiral model. But to get such a death spiral away it needs a perception of market liquidity and also to avoid a complete short term collapse of the share price. And that brings us to Advanced Oncotherapy (AVO).
I have been greatly distracted not least dealing with this utterly brain dead and vile Cloudtag (CTAG) shareholder who has been spamming me with the most ghastly abuse all day. I look at the Bob Diamond bid for Panmure Gordon (PMR) and what it means for the wider broking/corporate advisory sector. I then turn to Premaitha (NIPT) and the wider issue of the pointlessness of commissioned research. I touch on Management Resource Solutions (MRS) in light of the news earlier HERE but now the way it is really trying to screw shareholders with a 5p placing. There is comment on Jubilee Platinum (JLP). Then it is back to two old favourites: Advanced Oncotherapy (AVO) and Milestone (MSG). Woof Woof.
Advanced Oncotherapy (AVO) is, as you know, utterly desperate to create buying interest in its shares so that death spiral shysters Bracknor can dump £13.7 million of equity onto the market over the next year. That is not going well and so Advanced today boasts that it has paid investment analyst prostitutes for hire, Hardman, to publish a glossy note. This report is so unbelievably unbalanced that I can only assume that Hardman outsourced the work to the Bulletin Board Morons on the LSE Asylum. Folks can see through this shite and the shares are down by a penny at just 40p bid which is very bad news for Advanced as explained HERE.
I have already covered the admissions (HERE) and lies (HERE) flagged up in today's notice of a GM published by Advanced Oncotherapy (AVO). The great news is that the GM is on March 31 in London, a day when I shall be in the Capital. As the proud owner of 1 share bought earlier this week I shall be there for a bunfight. Just 32p for so much fun - bargain! Get your beer & popcorn ready. Why not come along to join me in giving the board hell over all the lies and other matters? There is free beer on me at Wedge Issue afterwards. But there is a far more serious problem for the shysters.
In today's bearcast I look in detail at Highlands Natural Resources (HNR) a true POS. I cover Angus Energy (ANGS), Saffron Energy (SRON) and Advanced Oncotherapy (AVO).
Heading to zero, serial liar Advanced Oncotherapy (AVO) has today called a GM to approve the issue of a blizzard of shares to obliterate its share price via death spiral. More on that later but the documentation throws up another issue other than the lies refered to earlier HERE, why will Advanced NOT come clean on short selling by death spiral provider Bracknor.
Advanced Oncotherapy (AVO) has today called its GM to approve the issuance of more shares to feed the Bracknor Death Spiral - more on that later for the document is, like the company, a joke. But first lets go to a big fat monstrous lie it told last year to help get that bailout placing away in September.
On the agenda today, I start with a twitter spat with Hugo Rifkind a man who is where he is today thanks to who is Daddy is not his innate lack of talent and who is tweeting nonsense about a matter he has no experience of. After that thrill there is news on UK Investor Show, nappy changing, the ethical dimension in investing in pharma companies, Advanced Oncotherapy (AVO), W Resources (WRES),Domino's Pizza (DOM) and a discussion about residential property and non resident speculators.
I am beginning to think that the 32p I invested in buying one share in Advanced Oncotherapy (AVO) may be dead money sooner than I think. The silence on certain matters relating to the £11 million it owes Metric is deafening and leads me to believe that on March 31 this company could be insolvent. Or is it already insolvent? The first question is whether Advanced has breached covenants on the loan already and so is in technical default, i.e. insolvent. If that is the case investors should be told at once should they not. Perhaps hapless Nomad Stockdale might force a clarification of this matter?
Yesterday I asked Advanced Oncotherapy (AVO) to answer 16 questions. I regret to say that as at 12 noon today now undertaking had been given to answer the questions and that therefore I am now at war. As such as I celebrated International Women's day by having a good looking 28 year old blonde run her fingers through my hair I decided to buy one share in this POS company. Bring on the EGM and AGM says The Sheriff of AIM and I hope that other folks out there will also buy one share so that we can get the mothers on this board to answer some very valid questions. In this podcast i also look at how if I was running the fraud at Eden (EDEN) I would buy some time before all is revealed. I also comment on Solo Oil (SOLO) and on the budget and our irresponsible chancellor Hammond who is the real villain of sterling weakness, not Brexit.
Shares in Advanced Oncotherapy (AVO) are sliding again today. Last time I looked they were 32p bid and they are heading rapidly towards the 25p mark at which point Bracknor will not be able to forward sell/convert loan notes as explained HERE without GM sanction. Thus the loan shark death spiral provider - which is pro tem exposed to the tune of well over £1 million will be flogging shares as fast as it can. Meanwhile Advanced just won't answer my 16 questions HERE. But there is something else going on which you can see if you check out the Bulletin Boards and it is quite remarkable and shows this company is toast.
Cynical Bear says that I am just being far too kind to Advanced Oncotherapy (AVO) with my 15 questions earlier today. Oddly I have yet to get an answer and nor will I as the company contemplates insolvency and other matters. But back to Mr Bear who says I should have asked a 16th question concerning another possible case of lying.
For years Advanced Oncotherapy (AVO) has ramped its shares to get away placing after placing with ramptastic investor presentations. But that was before I started asking all those horrible questions for which there was no answer. and Winnileaks started obtaining toxic leaked emails. Last night the company had a presentation in London. It has another in Zurich this morning. Warning Swiss folk and tax dodgers quotes about the London chinwag include "everyone left unhappy" and from a long term bull "I am just throwing in the towel." The shares have crashed by 23% to 36p bid so far today. The target for me remains 0p. But for those folks going to the Zurich meeting here here are 15 questions Advanced can't or won't answer:
When AIM uber dog Advanced Oncotherapy (AVO) announced that instead of going for non dilutive funding ( as no-one would provide it) it was being forced to resort to a dreadful £13 million death spiral from loan sharks Bracknor, its shares were 65p. When the death spiral started the shares were 58p. Now it just £100,000 of the death spiral loan notes on the first £1.3 million tranche converted, the shares are just 43p to sell. Bracknor now has three reasons to panic.
Hallelujah! Xtract Resources (XTR) finally managed to issue the long-awaited DFS at 4.23pm on 28 February. It’s taken me a bit of time to comment on it as I’ve been scratching my head thinking to myself: “Is that it? Is there a page missing? What now?”
The bell in this podcast is not Aidan Earley's libel suit arriving but the workmen returning after lunch. I explain why they are here - blame the Mrs. In terms of stocks I cover Prairie Minerals (PDZ), IGAS (IGAS), Milestone (MSG), Xtract Resources (XTR), Amur (AMC), Advanced Oncotherapy (AVO), NCC Group (NCC), Northern Petroleum (NOP) and Saffron Energy (SRON), Redcentric (RCN), MXC Capital (MXCP) and a few other matters. Smiley face.
Advanced Oncotherapy (AVO) the company with sod all cash, that is a cash guzzler, with no sales and which has persistently misled both investors and customers has moved up a gear with its death spiral funding and the shares have fallen again to just 49p to sell. Boy how sleazey former director, the Blair crony, Lord Evans of Watford must be glad that he dumped all his shares at 120p just ahead of the last big placing and during a closed period. And there has been no sanction at all. Bully for him. Now back to the death spiral.
Hello Share Tumblers. Uncle Tom has had Advanced Oncotherapy (AVO) under his gimlet eye for some time now. A few months ago, after a particularly worrying piece, I sold all this family’s holding for a stonking loss.
If you had raised £10 million for the AIM dog Advanced Oncotherapy (AVO) less than 5 months ago at 100p then your stance on the stock - at 54p-58p- would be some sort of buy. Oh no. broker Beaufort who did indeed raise that cash has today downgraded its stance to, what may be termed a corporate "hold" (i.e. sell) and makes it clear that the shares will fall allowing lower entry points. I should cocoa. Beaufort today opines after the Bracknor death spiral announcement of Friday - the underlines are mine:
Having promised "non dilutive funding" ad nauseam, on Wednesday AIM listed POS Advanced Oncotherapy (AVO) announced a £13 million death spiral funding with are shylocks Bracknor. On Friday it drew down tranche one and promptly served up another dose of smoke and mirrors for punters. The death spiral dance is now underway. Advanced announced that:
Hello Share Swingers. The most arduous element of share-shifting is having to make big decisions, knowing that the wrong choice can cost you thousands of pounds. But which is the correct way to make a choice? As the markets are not open at the weekend, this is a good time to examine the ensible way to make a your decisions in future.
Don't you just love our new Cloudtag (CTAG) countdown clock on the right hand side of this page? I am already assembling material old and new for this presentation at UK Investor but the clock is a jolly jape is it not? Elsewhere I never cease to wonder at the stupidity of some investors. I look at Amur (AMC) in this respect. I then look at Weatherly (WTI) which is telling you, plain as day, that its shares are worthless. I explain a few hard facts and ask new questions about Advanced Oncotherapy (AVO) and then have a butchers at Rosslyn Data (RDT) shares in which have just hit a new all time low. I wonder why? Smiley face, smiley face.
Yesterday I pointed out how the £13 million death spiral Advanced Oncotherapy (AVO) had signed with loan sharks Bracknor would see its share price collapse. It should but there is worse news in store - that of insolvency looming in just five weeks time. Insolvency you say? What are you talking about? Let me explain.
I have noted before that some death spirals are in fact a decent way for companies to raise cash, cheaper and less share price destructive than a bucket shop placing. But the Bracknor deal announced today by Advanced Oncotherapy (AVO), which had promised non dilutive funding but clearly does not mean a word it says, as I explained here earlier, is a total rotter. It will crater the share price as Bracknor makes a killing. Let me explain why.
When it looks like placing ahoy, sounds like placing ahoy and smells like it is placing ahoy it usually is placing ahoy. I look at the numbers for Corero (CNS) and Amur Minerals (AMC). In this podcast threatened by the greed of morbidly obese three legged cat Oakley, I also cover NCC Group (NCC) following up from yesterday's late in the day article, Advanced Oncotherapy (AVO) Beowiulf (BEM) and TrakM8 (TRAK). I also look at the laughable PR of worthless crap company Fitbug (FITB). There is a stand alone bearcast on the joke news from Servision (SEV) HERE
Serial misleader and worthless bag of AIM listed shite Advanced Oncotherapy (AVO) today announced that it has secured death spiral financing for £13-26 million from the lowest of the low DS funders, Bracknor. That is bad enough and will see the shares forward sold to buggery, as I will outline in a separate piece. What is worse is that it exposes Advanced for again misleading investors.
Last week's Bulletin Board Moron contest produced a number of splendid entries demonstrating that the "World's Most Successful Growth Market" attracts "the World's stupidest investors". You can see the full range here but the winner is an Advanced Oncotherapy (AVO) owning moron.
Advanced Oncotherapy (AVO) has finally fessed up to the truth of its bust up with Sinophi and is paying the Chinese $250,000 to settle - even last week house broker Beaufort was, with an Advanced steer, suggesting the Chinese would be paying Oncotherapy several million quid. Lets remind ourselves of a timetable of lies, deception and non disclosure.
This is becoming something of a ritual. Advanced Oncotherapy (AVO) is tardy in releasing very bad news but eventually fesses up. But it misleads investors. Its (now very clearly former) partner Sinophi then, effectively, accuses it of lying. Oh dear, for the second time Sinophi has stated that (almost insolvent) Advanced is telling porkies.
If I sound more like my father that is a good thing for he is honest and precise in his use of language, although he would not use some of the "french phrases" which occur in this podcast. I discuss the use of language and how wording has an exact meaning - this is in relation to Coral Products (CRU) which needs to clarify something. I do not think it is a fraud and it can easily blame its useless Nomad Cairn. After what it has signed off for Cloudtag (CTAG) few will fail to accept such an excuse. I then move onto deliberate lying by AIM Companies which is actually quite rare. Gross over-promotion is quite common. I explain the difference. Cloudtag and Advanced Oncotherapy (AVO) are mentioned in detail in this section. In discussing what is a fact I refer to my article of yesterday on Holocaust Memorial Day which is HERE
I had a couple of contacts attending Thursday's attempted rampfest by floundering Advanced Oncotherapy (AVO) hosted (for a fee) by the sleazy IR promoters at Proactive Investors. I am grateful to one financial analyst - who is short of the stock - for his notes.
You think that following director share buys is smart? Not always. I start with Coral Products where old Joe Grimond really is spoofing us all with a recycling of a dividend that really should not be paid. Coral also highlights those scallywags at Cairn signing off on another RNS lie just like they do for the fraud Cloudtag (CTAG). Then I look at Quindell (QPP) in that vein and at Avanti Communications (AVN) commenting on its refinancing completed today. Then it is onto the hot gossip of the cash crisis at Advanced Oncotherapy (AVO) where I have another story breaking this weekend. Finally I touch on the troubles at Guscio (GUSC)
Apparently some folks think that Cloudtag (CTAG) is just a bad company not a fraud. I explain to such folks the difference between a fact and an opinion (Latin scholars are aware of this already) and why exactly that makes this company a 100% fraud. Its shares are now just 4.75p to sell but the target remains 0p as it is a fraud. Then it is on to the importance of NEDS and what they are there for ref Advanced Oncotherapy (AVO). Then I move to Ashley House (ASH) and a bit of macroeconomics, to Grand Group (GIPO) and onto Galantas Gold (GAL)
On December 2 2016 I suggested here that Advanced Oncotherapy NED Tim Lebus had had enough and was walking. The lying snot-gobblers round at Advanced declined to comment. Guess what? He has walked with immediate effect today. It gets better, if you are a bear.
Criminal Aidan Earley says thatmy work destroys great British Companies. That is what Rob Terry used to say too. What is the difference between those two fraudsters? About £50 million and so far only one has served time. I discuss Winnileaks triumphs today on Advanced Oncotherapy (AVO) and Strat Aero (AERO) and why they vindicated my work so much. Then I look at BT (BT.A), Rosslyn Data (RDT), Cloudtag (CTAG), Sunrise Resources (SRES) and LGO Energy (LGO).
Yesterday I goaded AIM weasels Advanced Oncotherapy (AVO) to come clean on the status of its relationship with Chinese distributor Sinophi, HERE. It seems the world moves quickly because Advanced has today announced that Sinophi has, as of yesterday, "terminated" its orders and at a stroke the order book goes from $150 million to nil. But this smells all wrong and at the same time means that Advanced may well go bust within five weeks. Let me explain.
Advanced Oncotherapy (AVO) said in September that it would secure additional non dilutive funding by the year end. Today it is clarified where it stands but has neglected to point out how perilous its financial position is. Net current assets will be negative within five weeks which begs a real question regarding whether this company is solvent
Weekend press reports (not in the UK natch as the British press is ignoring this £2 billion City scandal for reasons one can only imagine) suggest that the FBI is now investigating. Already in France there have been arrests including that of the CEO of Areva - Atomic Anne - which bought AIM & TSX listed Uramin for £2 billion and had written all of its assets off as worthless within three years. There is also a major new investigative book out on the scandal due out on Thursday. I am sure my good friend Jim Mellon will be ordering an advance copy. Elsewhere I look at Vislink (VLK), at the train wreck waiting to happen at Advanced Oncotherapy (AVO), at Fitbug (FITB) and Cloudtag (CTAG) and then finally at SalvarX (SALV) - placing ahoy on this related party express train to planet hype.
AIM (very) bad boy Advanced Oncotherapy (AVO) did its best to ramp its shares following the shock loss of its entire order book back in November. Or was it October? Glitzy promo videos and spoofing share purchases by NEDs phased out to have maximum effect on fooling the gullible managed to get the shares back to c90p. But now folks are looking behind the smokescreen of bullshit and the shares are tumbling again, to 73.5p. Since this company has committed securities fraud my target remains 0p. The questions are mounting fast.
I start with thanks for all the offers of support in dealing with the criminal poltroon Aidan Earley of Worthington (WRN) - now in liquidation - infamy. I then look at Advanced Oncotherapy (AVO) and the questions it is NOT answering. Then I touch on Audioboom (BOOM) before going onto Parallel Media (PAA) before ending up with the basket case that is Inspirit Energy(INSP), its bleak future and its links to the Teathers Financial (TEA) scandal. Finally I brace myself for a night of woe tomorrow.
As joint house broker to the exponent of Securities fraud that is Advanced Oncotherapy (AVO), Beaufort has to sound bullish and has thus reiterated its speculative buy stance today. But read the note carefully. Beaufort is frit. I have highlighted key phrases that have not appeared before for you. Key phrases which show goalposts being moved and a broker that is sick of being made to look foolish.
It is now 11 days since I published details of leaked emails which showed that AIM scumbag Advanced Oncotherapy had withheld awful trading news from investors as the company launched an open offer. That is clearly securities fraud. Almost as bad, the emails showed that the timelines the company had held out to both customers in China and investors in London for product delivery were just fantasy. And that is why customers walked. Heads should have rolled. Hapless Nomad Stockdale should have forced a statement. And having told its house broker (Beaufort) that a much needed refinancing would happen by the year end, we need an update on that too. Instead...
In today's bearcast I look at the A to E of AIM fraud. It covers Advanced Oncotherapy (AVO), Boxhill (BOX, Cloudtag (CTAG), Daniel Stewart (DAN) and Eden Research (EDEN). Can you remember which two of those have sent me a fascist lawyer's letter?
Time is running out for Advanced Oncotherapy (AVO) as it scrabbles for additional finance but this time it really needs to start telling the truth to potential backers. In fact before I reveal more leaked emails I invite it to correct some previous lies told now.
Hello Share Shiners. The decaying share value of Advanced Oncotherapy (AVO) after and during inquiries by Uncle Tom will have left a fair few of us nursing losses. My own shortfall after selling my shares is not to be sniffed at.
Yesterday I published extracts from leaked emails that show that Advanced Oncotherapy (AVO ) kept very bad news regarding China contracts from investors as it launched and conducted an open offer. That is monumentally serious. In the US folks would already be doing a perp walk fort that but even our useless regulators will do something here. In normal circumstances the company would issue a response via RNS but here we are a day and a half later and even though the shares slumped yesterday and are sliding again today we hear only a deafening silence.
I am utterly shattered after day three of the olive harvest - a photo article is HERE. Please note Cloudtag (CTAG) morons I can't respond to your inane tweets at once every day. Cloudtag shares have raced ahead today. I explain why and why it won't last. As with all frauds the target price is 0p. Talking of which I also discuss Advanced Oncotherapy (AVO) which seems unwilling to comment on today's bombshell revalations and African Potash (TOAST). I also look at Mirada (MIRA), Interquest (ITQ) and Aeorema Communications (AEO)
AIM promote Advanced Oncotherapy (AVO) and Sinophi have already publicly disagreed as to whether the $120 million order by the Chinese has been "terminated" or not and and on when it was "terminated". Advanced announced the bad news on November 24 suggesting no termination, Sinophi used the T word and said it told Advanced in "early November". A source out East has ensured that I have now obtained access to confidential emails from Sinophi to Advanced which show that Advanced was aware of problems far earlier and at a time when it was soliciting funds from investors. It did not tell those investors. Heads must roll.
I am utterly wiped out after day one of what looks like being a cracking harvest. A full photo report is HERE. In the podcast I discuss votes tomorrow in Austria and Italy and what they mean and why we bears are feeling good about the lack of a Santa Rally. Trump was Santa this year and that rally is over. I explain why I disagree with Malcolm Stacey's article today. I then look at a number of AIM stocks set to slide and why, as I refer to Steve's piece earlier. In focus: Avanti Communications (AVN), Advanced Oncotherapy (AVO), Telit (TCM), Boohoo (BOO), Tungsten (TUNG), Fastjet (FJET), Cloudtag (CTAG), African Potash (AFPO) and I have a few words about Worthington (WRN)
Tim Lebus is a non executive director at Advanced Oncotherapy (AVO). Well sort of.
She was horrified. I am not sure she agreed with my line that the mainstream press were part of the problem not the solution but she agreed that AIM had its issues. On the bearcast today I look at Red Leopard (RLH), Formation Group (FRM), Mobile Streams (MOS) and its charming CEO - Andalas (ADL) - whose CEO is a tosser - Strat Aero (AERO), Finnaust (FAM), Inspirit (INSP), Plus 500 (PLUS), Advanced Oncotherapy (AVO)), TrakM8 (TRAK) and Cloudtag (CTAG) plus one way of looking at it which sees 300 companies on AIM as a sort of fraud.
In the face of relentless pressure from this website, embattled Advanced Oncotherapy (AVO) yesterday put out a statement attempting to draw a line in the sand over its falling out with Sinophi, whom it had claimed was set to buy $120 million of machines from it. It has failed. the statement begs even more questions and the shares remain utterly uninvestable.
Though I may have pneumonia thanks to Paul Scott, I am now safely in Kalamata looking up at the mountains where I live when in Greece and the storm clouds are ominous. So back to the stockmarket I look at Finnaust (FAM), Audioboom (BOOM), Avanti Communications (TOAST), Condor Gold (CNR), Advanced Oncotherapy (AVO), Webis (WEB) and Anglesey Mining (AYM) which is spouting bullshit today as it places.
I must rush. Woodlarks beckons and then it is Greece. But first I look at: Advanced Oncotherapy (AVO) in light of last night's bombshell HERE, TrakM8 (TRAK ) - chatting to Paul Scott - Pantheon Resources (PANR), Bushveld Minerals (BMN), FastForward (FFWD), Jim Mellon's reported comments and Mosman oil & Gas (MSMN).
Advanced Oncotherapy's (AVO) much ramped JV with China based Sinophi is falling apart in the most embarrassing of ways. Advanced announced its first deal with Sinophi on March 25 2015, a statement made by Sinophi should have the FCA and AIM regulation crawling all over this one.
In this bearcast I start with yesterday's party with my wife's colleagues, the Guardian reading sociology lecturers. I was biting my lip hard. Then it is onto Trakm8 (TRAK) and a general point about acquisitive companies - the specifics of my latest triumph are covered HERE. Then it is onto Cloudtag (CTAG) and a detailed look at the numbers for Advanced Oncotherapy (AVO) in terms of when it will run out cash, then onto Boxhill (BOX) and more questions for sleazy Lord Razzall. I then cover Premier Oil (PMO) and the stock that left podcasting share ramper Justin the Clown living in a cardboard box, Andalas Energy (ADL)
I have spent the morning reading a few Bulletin Boards. I feel dirty in admitting to doing this as it is something I do very rarely and only when no-one is watching. Specifically I looked at threads on Cloudtag (CTAG), Strat Aero (AERO) and Advanced Oncotherapy (AVO) for instructive lessons in both human behaviour and also the nature of all the best frauds.
Yesterday shares in Advanced Oncotherapy (AVO) plunged after it fessed up that a critical deal worth up to $120 million with a Chinese entity had encountered problems. Those who backed a big fundraise just weeks ago are already 26% down. But the incident begs massive questions about the timeline of disclosure and RNS statements that appear to be utterly untrue. I have written to the FCA & AIM Regulation, as this appears to be market abuse, outlining my very specific concerns and demanding an urgent enquiry and, if appropriate, that sanction be taken against those responsible. The letter is below:
Hello Share Mongers. About two years ago I suggested you take a look at Advanced Oncotherapy (AVO). I was glad I did as I seem to recall that the shares rose from about 3p at the time to around 18p.
How is that for a Thanksgiving mixed metaphor of a title? In this podcast I look at denial, red flags and bending the rules on the Casino. Among the companies covered today are: Advanced Oncotherapy (AVO), Cloudtag (CTAG), African Potash (AFPO), Fastjet (FJET) and the insider dealing, Mkango Resources (MKA), London Capital (LCG), Audioboom (BOOM), Milestone Group (MSG) and I flag up that Steve & I have a hot share tip you can access for just £5 coming up very soon HERE
How many commercial orders does Advanced Oncotherapy (AVO) have for its Proton beam machines? I put it to you that the answer is zero but that it has always been zero. This company appears to have over-egged the pudding on a serial basis, allowing it to raise vast sums. The FCA should be now launching an urgent investigation into this matter demanding to see original "commercial sales" paperwork in order to see if Advanced has been as transparent as the rules dictate.
There is no explanation at all given for today's resignation, with immediate effect, of Lord David Evans from the board of Advanced Oncotherapy (AVO). If it had been planned, as a result of illness or some other matter, it would have been announced with other board changes on October 10 and 27. Make no mistake: the reason that Evans has "resigned" is my scoop of 6 days ago regarding his share dealings - Congratulations you Blairite low life you have met The Sheriff of AIM.
Earlier today I pointed out how Lord David Evans, the senior NED at Advanced Oncotherapy (AVO) sold his entire holding of shares during a closed period and just ahead of a major placing. He appears only to have told the company this week, although the share sales took place between 19 August 2016 and 16 September 2016. This is a massive breach of AIM Rule 21. I have written to Marcus Stuttard, the head of the Oxymorons at AIM Regulation.
On 30 September 2016 Advanced Oncotherapy (AVO) announced not only its interim results but also a large placing at 100p. In the run-up to a placing and in the eight week closed period ahead of numbers surely no director could dump his entire holding? Surely not? Think again.
As indicated at the time of its bailout £10 million placing on September 30th, Advanced Oncotherapy (AVO) has now announced that it is to raise up to £4.8 million via an open offer at 100p. With the shares at 102p to sell, I'd rather sign up to spend two weeks alone on a desert island with crooked Hillary droning on about how being a rape enabler makes her a good feminist, than accept this offer.
I am in a bad mood because a) baby with no name is screaming a lot and I am tired and b) some little shit for brains round at Beaufort Securities was slagging me off to a client today. This little turd of little brain turned out to have his facts wrong and so I am now officially on the warpath and, hence, go through today's morning note from Belfort and dissect its utterly 100% shite research on Strat Aero (AERO), Advanced Oncotherapy (AVO) and Servision (SEV). I also look at Audioboom (BOOM) and Kodal Minerals (KOD).
Advanced Oncotherapy (AVO) announced its interim results on 22nd September 2015 and so you would expect that it will be publishing numbers for 2016 within the next week or so. The main question is whether it will be accompanied by a desperately needed placing of at last £35 million? But as we await that I wonder if the company would care to update us all on the true state of its UK sales pipeline. Telling the truth is not too much to ask is it?
In this podcast I refer to my non financial podcast today on the great Olympic Con - sport is not making Britain Great again (HERE) and also to part 4 of the new series: The Chairman's Blog by Sir Benjamin Dover HERE. Then I go onto how the corrupt financial press and PR flunkies use and abuse you as readers and investors with special reference to bank closures and Lombard Risk Management (LRM) in the Mail on Sunday and, especially, Advanced Oncotherapy (AVO) in today's Sunday Times.
I am challenged to comment on Cenkos (CNKS) as an investment in light of todays news on its role in the Quindell fraud (HERE). Okay, I do my best. Then it is on to Techfinancials (TECH), Advanced Oncotherapy (AVO) and some friendly advice for Malcolm Stacey, Gulf Keystone (GKP), XCite Energy (XEL) and then I end with Avanti Communications (AVN) where I hope you understand the historical analogy.
I start by looking at the collapse of Crowdmix and how it so remoinds me of 2001 and what is says about the tech bubble, someting that is very much on my mind right now, as you can see HERE. Then I look forward to tomorrow in Shipston but more imprtantly to the demise, later today, of Worthington (WRN). I cover Ariana Resources (AAU) where I am cross and puzzled, Advanced Oncotherapy (AVO) - how is the placing going Belfort? - Weatherley (WTI) and Ferrum Crescent (FCR)
A few words on logistics then after today's debacle at Highlands Natural Resources (HNR) I explain why the shares are worth just 3p (or less). Then it is onto PCG Entertainment (PGCE), Jiasen (JSI), Belfort Securities and its morality vacuum, Tungsten (TUNG), Onzima (ONZ), IGAS (IGAS) and Solo (SOLO). Finally, more than a few words about Advanced Oncotherapy (AVO)
I have spent the morning getting twitter grief for this article but the one polite twitter enquiry concerns BoxHill (BOX) and I answer that in this podcast as well as explaining why shares are both up and down since Brexit - it all depends how you look at it. I also cover Gulf Keystone (GKP), Bluebird Merchant Ventures (BMV), Advanced Oncotherapy (AVO) and Avanti Communications (AVN), I meant to talk about Bovis (BVS) but forgot. I shall try to remember tomorrow when I am down to make a gooseberry crumble. I shall report back on that over the weekend.
Getafix is still on holiday and without his enthusiastic endorsement trading activity in Advanced Oncotherapy (AVO) has all but disappeared. But as a consolation the old boy has sent us another holiday snap which is begging for a suitable caption. Yesterday's picture produced a standout winner from the 10 entries as you can see HERE
I start with a few personal issues and then in this bearcast I explain why the mountain list of red flags at cancer play Advanced Oncotherapy (AVO) matter but what will be the killer blow and when I shall deliver it.
On 25 March 2015 Advanced Oncotherapy (AVO) announced what it claimed was a major breakthrough in China, what it termed the "first major sale of a LIGHT system" in China. Well that was the headline. The customer was a firm called Sinophi. The shares zoomed on this $40 million order. Jolly good news. 37 days later the company raised £20 million in a placing at 8p. But did anyone care to look underneath the PR spin? No. Lets start with Sinophi Healthcare Limited.
Beaufort Securities is joint broker to grossly over-ramped Advanced Oncotherapy (AVO). That means a fat retainer and also a good slug of the commission earned for the regular placings this company needs to keep paying its bloated boardroom payroll and other costs. The commission on the May 2015 fundraise at 8p would have been £1 million. Coke & hookers all round! Except for the shareholders, that is, as the share price is now 5.25p and its going to fall further as the next placing is imminent. So how do you ramp a stock ahead of a placing?
