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Advanced Oncotherapy - Question 16: were you lying on November 24?

By Tom Winnifrith, The Sheriff of AIM | Tuesday 7 March 2017

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

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.

In the RNS on 24 November 2016 it said:

"the building work for the Harley Street site is expected to start in early January with completion of the building works expected by March 2018"

Now yesterday it said that excavation will start 27 March and it could take 62-96 weeks to build and and then 52 weeks for fit-out!. Advanced now reckosn that it could be ready for installation by H1 2019 but by my maths, it could also H1 2020 in a worse-case scenario.

That's some change in just over three months. There is no way that Nov RNS could have been correct, although I guess it may depend on what it means by "building works" So to add to tthe earlier 15 questions Advanced will not answer is

16. How did your Nomad verify claims you made about the Harley Street timeframe on November 24.? can you show that the claims were true? Why should we believe any claims you make now about timescale or indeed anything at all?

The shares are now down to 33p bid. Keep selling. Target price 0p.

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