AVGG.. $0.10 Just go cheaper,, But
will AVGG survive.. I have according to the last 10Q figured that AVGG has at present over $0.50 per share in cash and about another $0.20 due.. The SEC says it now want's some and has frozen the assets of the company....AVGG's burn rate was at present less than $0.06 per year so interest should accont for half of it.. The charges below are for prior periods but the SEC has frozen the accounts of AVGG..
I hope the funds are still there and if so down the road we could see a reverse merger or dividend.. IMO the current management is gone and we have a clean shell.. How long it will take to workout is anyone's guess but I think 24 Mo's would be a good estimate for starters .. First thing to find out is how much cash is/could be left.. The SAGA is below.. I'm long well over 60K of AVGG after sales and purchases yesterday,, but had bought much of it below current prices during the past few years.. My DD was good but it's still almost impossible to guard against fraud if someone want's to commit it.. Not saying that fraud has occred here but it don't look good..hank
On June 22, 2010, the Securities and Exchange Commission (the "SEC") filed
a civil enforcement action in the United States District Court for the Southern
District of New York against Advanced Technologies Group Ltd. (the "Company"),
its Chief Executive Officer and President alleging violations of the Securities
Act of 1933, as amended in connection with certain securities offerings
conducted by the Company and its predecessors between 1997 and 2006 and seeking
preliminary and permanent injunctive relief, disgorgement and civil monetary
penalties. The SEC also seeks provisional relief in the form of an order
freezing the defendants' assets and prohibiting destruction, concealment or
altering of records pending final disposition of the action.
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