Avid Bioservices Inc (CDMO)

[itsabouttime]

In regard to the S-3 mixed securities shelf filing registration breakdown. I see the eventual dilution in the preferred conversion into common which I thought would line up around 2016. Would this be correct? If so the timing on this could be coinciding with P3 Sunrise news events.

25,113,278 common shares reserved for issuance under outstanding option grants and available for issuance under our stock incentive plans;
2,714,717 common shares reserved for and available for issuance under our Employee Stock Purchase Plan;

273,280 common shares issuable upon exercise of outstanding warrants; and 34,220,116 common shares issuable upon conversion of our outstanding 10.50% Series E Convertible Preferred Stock (1).