I have been following this transition from VNA to AFT carefully for over a year now. I think it is a mistake to connect AFT with the old mis-management at VNA - that prejudice is not objective.
There are no AFT directors or management who were involved with the mismanaged VNA era. Sanford is the only one remotely connected and he resigned as CFO when he saw the mess and only came back on condition that he be given control. In the subsequent two years, Sanford has cleaned up the mess, changed the corporate identity and obtained shareholder agreement to construct a completely new business.
Even the large shareholders from that era are gone. There is simply no connection.
AFT is now Sydney Admin. based with MXT being London Operations headquartered. The major shareholders are all new and the top 20 own 56% of the company.
If the UK SARS testing confirms MXT's view that the system is effective, I think you will see rapid deployment via the Chinese Master Licensee before the northern winter and the threat of another SARS outbreak returns.
What has been sucessfully transferred from VNA (and is the only reason the old carcass was put into intensive care) is the $80m tax losses. MXT does have a REAL product and the need is EXISTING and not invented. There are customers awaiting regulatory clearances so sales will start soon in my opinion.
