Avid Bioservices Inc (CDMO)

[biopharm]

Tampa, a line item was not explicitly pointed out... just a link, but here goes, this line is why we should all be sending in a registered letter to Peregrine/SEC/Nasdaq.

Now here is a partial argument and we must go back to the vote to INCREASE the authorized shares last year and here is why. Was there any partnership talks/emails in exchange between the company and others (Big Pharmas or research institutions..etc..etc ??) and if so, shareholders are due to all access of these negotiations because it is highly likely that "Authorized Shares" would be part of the deal to give that Big Pharma party or research institution a certain percent ownership in Peregrine Pharmaceuticals... correct ?

Further, if part of the strategy of negotiations of that Big Pharma was to INCREASE ownership in Peregrine Pharmaceuticals, then now we fast forward a year later to this current time "AFTER" some negotiations take place that a Reverse Split is brought, it would very likely be due to support a negotiation deal where the other party was seeking a bigger ownership in Peregrine Pharmaceuticals.

Can Peregrine request a RS based on the price under a $1 ?? Certainly yes and that would be their argument, legally.

Could a stock be manipulated downward, under a $1 in order to force Peregrine into a situation like this that covers them for the reasons why they would request such a RS ? Certainly yes

Could ALL shareholders reading this realize what is going on and ALL send in registered letters to Peregrine/SEC/Nasdaq and bring up all circumstances on going and request to see the records of when negotiations began and certain stock trading activities, along with stock ownership from Broadridge Corporate Issuer Solutions ?? Certainly yes and when all the facts surface, things may change big time.

Remember, the "COMPONENTS" that comprise the common stock capital account include ==>> authorized shares !!, WHEN we are talking negotiations with any other Big Pharma and these are the reasons why authorized shares are important, in deal making and Big Pharma will stock at nothing to control PS Targeting rights... including sabotage and holding a stock under a buck to possibly force a RS and all the while, knowing.... authorized shares are their for the taking (of control of PS Targeting) and ultimately force some retail to accept a much cheaper buyout than originally planned.

Shareholders better start to understand how Big Pharma works and all better start sending in and making their voices heard--- that we want ALL shares, including prior-negotiation talks of possible AUTHORIZED shares to be reduced... just like all common shares would be reduced.

Again, this is all IF IF IF Peregrine goes this route and shareholders should all take precautionary steps now, vs later when its too late.

Page 21 of 48 states:

Accounting Consequences

The Reverse Split will not affect the common stock capital account on our balance sheet. However, because the par value of our common stock will remain unchanged as of the Effective Time, the components that comprise the common stock capital account will change by offsetting amounts.

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Page 22 of 48 states:

We believe that the reverse stock split should qualify as a “recapitalization” for U.S federal income tax purposes.."
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Our beliefs regarding the tax consequences of the Reverse Split are not binding upon the IRS, federal, state or local courts, and there can be no assurance that the IRS or the courts will concur with the positions expressed above.

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http://files.shareholder.com/downloads/PPHM/2176396039x0xS1019687-16-7374/704562/1019687-16-7374.pdf