Avid Bioservices Inc (CDMO)

[Frustrated]

And you are 100% right about selling ATM shares. We know 2.7 million shares were sold between March 4 and June 13. If they even sold 1 share between June 13 and the July conference call sub $2, I will be outraged as they could have sold 40 million shares at $2.50 and announced the termination of the ATM. Yet conveniently on our run up the ATM was strangely out of operation.

So, I'm guessing they have some news that will help tier the next set of preferred at about $5 after the common trades around $3 for a bit. Or they are thieves. There's really no middle ground here IMO. I'm betting on the first option.

Couldn't agree more. The only other logical reason for not selling the ATM in the $2.50 to $3.18 range would be that their buddies did not want it at that price. You have to know you need to sell stock from here on in. I predict at least 5 million dollars will be lost in ATM profits due to either mgmt.'s ineptness or deals with their buddies. Can't see anybody accepting the preferred shares when they are selling above the open market. We will see after earnings. All imo.