Avid Bioservices Inc (CDMO)

[Carboat]

Hard to disagree but the problem is the bod and mgmt. have such a cozy relationship that they may choose to just keep the lights on and pull down their stipends and salaries. Mgmt. can't just dismantle them. Unfortunately I can't see Avid being worth anywhere near $1.5-$2 a share. More like 2-3 time trailing revenues. Maybe $.50 cents but that assumes a separate entity with the right staffing for just Avid. Where do the rest of pphm staff go. Avid can't fund them. So a liquidation type sale would also require the layoff of most of the company. Can't see them doing that just because it would be best for shareholders.