Avid Bioservices Inc (CDMO)

[north40000]

1) Assume an entity or family exists that has already acquired an amount of shares, perhaps a little less than 5% or about 10,000,000 shares. Further assume that the same entity wishes to acquire more shares, say 175,000,000, at a pre-arranged price, having been in contact with PPHM management, perhaps contingent on success of Sunrise.In a partnership arrangement, the matter rests there for awhile---minutes or days or months--- much like Roche original investment in DNA[Genentech]and subsequent total purchase or TO.

2) In a takeover the entity[partner] or family could later or even immediately make its offer for remaining outstanding shares[namely ours and those of Dart and institutions] at an offer price[cash or shares or combination] that would be a substantial premium to current PPHM price or better yet the above pre-arranged price which itself I would assume would be quite a ways above the current price. The premium for those remaining shares would be enough to satisfy all of us.

3) I wonder whether Boehringer-Ingleheim has thought about becoming a public company. I also wonder how many family members are involved in ownership of that now-private company. I wonder whether PPHM could be purchased with shares/cash of that private company turned public and headquartered then abroad, in some tax-free exchange. Just one example.

4)At least item 1 above and preferably 2, would be made known to SHs well prior to 10/15