There has been a lot of loading up of shares lately by observing the way this has been trading.
Results of Operations For the three months ended September 30, 2010, the Company had net income from continuing operations of $0.02 cents per share, compared with net income of $0.01 cents per share for the same three month period in 2009.
Executive Commentary -- Jon Buttles, Principal Executive Officer "As we discussed in our shareholder letter on November 2, 2010, we have commenced a strategy to refinance or restructure our indebtedness and provide an ongoing business for Advance Nanotech. The initiatives we are pursuing are primarily based on and driven by the value of the Owlstone shares held by Advance Nanotech. As disclosed in the shareholder letter, Owlstone has initiated a private financing at a valuation of $0.70 per share. Based on this valuation and Advance Nanotech's holdings of approximately 14.0m shares, there is approximately $9.8m of value residing within our Owlstone holdings. We are currently in active discussions with our noteholders regarding providing a reasonable extension that allows Advance Nanotech the requisite time to monetize a portion or all of its position in Owlstone to satisfy the $7.3m of notes as set forth in the table above. Subject to the approval of our noteholders, we intend to settle our notes through some combination of 1) exchanging Owlstone shares for notes, 2) selling Owlstone shares to repay notes, or 3) refinancing our notes with fresh capital. We have received preliminary indications from certain noteholders that would prefer to exchange their notes for commensurate value of Owlstone shares. Of course, there is no assurance that such a restructuring can be completed. We have also identified and are evaluating operating businesses that may serve as the operating platform for the Company going forward, assuming we are able to complete the restructure of our indebtedness. We are working aggressively to satisfy all constituents to preserve as much value for our shareholders as possible, and are appreciative of the support we have received from shareholders and noteholders alike."