Avid Bioservices Inc (CDMO)

[JJ1223]

The RS is a way to mask the ineffective spending patterns and high salaries of the leadership team. Each BOD member has more options today than they had prior to the last RS. There is no reason why it would make any difference to me if PPHM were an OTC stock. It does however make a major difference to the BOD and those with unusually high salaries and options paid for poor performance. I do no believe the total available shares will be reversed, and that to me is the rub. The company would rather sell shares above $2.00 as long as they can. All plans appear to be stalled, and that is not a good indication for the future. Thirty seven jobs are now listed, but the can't seem to hire even a janitor. To work for a company with their track record would be a risk. They plan to continue their pursuit of working capital in the same manner they always have...selling shares and keeping investors in the dark. At a bare minimum, SK, PL and CJ should resign for the good of the company, and all managers should take a 50% cut in pay.