Avid Bioservices Inc (CDMO)

[Protector]

bidrite, there is no COMMITMENT when a CEO, PPHMs SK, makes a statement in which he HOPES to bring something to fruition in a given period.

It is a forward looking statement that IS NOT under the CEO only doing. He cannot force the terms, neither sign both sides of the contract. Hence when some statement is made of which those hearing it know that its success depends on another party, there is no commitment.

A commitment would be that SK said that they will sign a contract for sure with XYZ within the year and that they are only tuning things for final. That means the CEO has something in his hands by which he can make such statement because the other party cannot get out without damages.