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By Nigel Somerville, the Deputy Sheriff of AIM | Tuesday 17 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.
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?
They really are simple questions – why has Advanced Oncotherapy not answered. Has it something to hide?
Surely if the loan had been repaid we would have been told by now. Surely if it had been rolled over we would have been told by now. But instead, silence.
And the subscription from Yantai Cipu for 29.9% of the company (the shares HAVE been issued) in return for £13.5 million remains in some doubt as there has not been a TR-1 from Yantai, and there is still no sign of the boardroom presence for Yantai we were promised. Indeed, the further payment of £16.5 million under the distribution agreement is, Advanced told us on 3 April, still outstanding.
Is Advanced suffering from a lack of cash?
The silence is deafening.
Never miss a story.
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