Avid Bioservices Inc (CDMO)

[BCS Paladin]

Counting actual outstanding PLUS set a sides we have

and two Pipes filed that will use up all free common and all remaining preferred we are at the end of the road for financing our activities via dilution.

A very long time ago I started using estimated/potential Market Cap and dividing by 325 million for a guesstimates of PPS.

Phase III is the end of the road. We need to get a product to market. We need to grow up and sell sometime.

Don't forget the $150 MILLION Preferred Stock offering out there.

It was not filed to wait for a buyer/partner.

It was filed because we already have a buyer/partner.

Our next partner doesn't care historically about owning a majority of our shares but they do require majority/controlling voting shares/rights.

We will have enough money to completely see Phase III to the end.

This is still one of the all time best investments/gambles.