Advance Nanotech (fka AVNA)

[BigGuy1]

If you're a shareholder, you may be able to force a meeting and elect a new board that would include yourself. Either contact the State of Delaware or a corporate lawyer about it.

Problem is the notes that cannot be re-negotiated leave the company with no assets except 30% of Owlstone which at the current Owlstone valuation would barely pay off the debt from the notes.

This wasn't a nanotech company, it was an investment company that provided capital for a bunch of companies. Owlstone worked out, but the way the debt was managed didn't.

So there's been some bad timing with 8% notes being issued at the height of the financial crisis, poor decisions and possibly financial slight of hand with the ownership of Owlstone going from a majority 80% to a minority of 35% , but it's happened over years and if you held shares it was your responsibility to be cautious as the last letter to shareholders said you should be.

I too figured this had great promise and still hold shares. Owlstone still holds much promise, but unless someone steps up and manages to convince the note holders to re-noegotiate, there's nothing much to be done.

The noteholders get paid first, then shareholders, so unless the company can stave off bankruptcy forced by the noteholders, the asset will transfer to the noteholders.

Biggest issue is we haven't hear from Owlstone or had an update for a long time. If there are things brewing and product announcements that were purposely not annouonced, withholding this info in itself could be considered market manipulation and the SEC may make an issues of it. But this is a very small fish in a very big sea.

IMHO the SEC should look into it too, but likely will find poor timing and decisions led to the issues, not someone running with the dough. In fact when he resigned Buttles and hs co. still owned 2m shares which could now be worthless.

I think there is a slim chance the company stays around, new directors appointed and the value of the asset (30% of Owlstone) increases to a point that the shares are worth something again. But this would take years, time the noteholders don't have.