Avid Bioservices Inc (CDMO)

[Protector]

4OR, if those shares have not been bought by a party that wants them then the only place they could have gone in in the MM's shelf (they call it inventory).

If the MM had to BUY 12.5Mil shares he would not have taken them at the same price but frantically brought the price down while absorbing. However, this was impossible here because they were ALL sold at once. An MM would have NEVER taken them on inventory. So there must have been a buyer.

Or the other way around there was a buyer and there must have been a seller. I think that we had a SELLER and a READY buyer. The transaction went at the bid price, so the seller came down to the buyer. This COULD have been the ATM masked in what we might think was Russel traffic. We'll know when reported as I don't think PPHM needs the ATM at this point with most cost cut down from trials, increasing Avid revenue and margin and 61Mil$ on the bank. This is an OPINION because it is all hard to say!