Avid Bioservices Inc (CDMO)

[BKT]

Endo,

I believe there were even more than the 10 million, just from a small sampling on this board. I had obtained a list a few years back, when we were talking about some strength in numbers and board issues. I have the list , but haven't looked at it in a while, but am pretty sure it was 10-12 million excluding dart, and most of the people had over 100,000 shares and some in the 300k or more range. It wasn't everyone on the board, since some weren't confident in disclosing, which I can understand. If I was to guess, I believe at that time, this board and related members would have easily been close to 15-20 million.

I was close to 250-300k at the time. If I was to also guess, I would think that number has dropped and maybe significantly. I for one have dropped my position by 3/4 on hopes of making some money elsewhere while the stock languished and management does what they have been doing for years. I occasionally pick up more and trade a bit, but waiting for AVXL to pop and will most likely add some more. I think the risk at .39-.40 is very small. Still think We are worth a dollar all day, and also believe shenanigans going on, whether that be management or some other entity keeping the price low, while someone accumulates.

Cautiously optimistic, but have never trusted this management team and their close ties with each other.

Hope that helps