By Nigel Somerville, the Deputy Sheriff of AIM | Wednesday 4 April 2018
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.
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?
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