Avid Bioservices Inc (CDMO)

[Dragon Lady]

Quote, "they've been granted a 180 day extension. no guarantee Nasdaq will approve another.

They're actually ONE YEAR in DE-LIST territory. The first 6 months "grace" goes by unannounced. THEN, they get the formal "extension" as you describe.

THEN, it's DE-LIST. There are no other possibilities, other than meet the NASDAQ listing requirements. They've exhausted the "appeals" period, it's coming to an end.

A company doesn't take the PR/reputation "hit" and financial costs and legal and all to prepare and then pass by UNANIMOUS INSIDER VOTE, a "PROXY" saying, begging, VOTE YES FOR A 1-for-7 REVERSE SPLIT cause they don't think they're gonna need it or use it.

This POS gets REVERSE SPLIT NUMBER THREE in about 15, maybe 23 biz/trading days tops IMO, barring a literal Biblical level miracle and magic rabbit pulled from the hat trick at the same time.

Their track record at "miracles" is a GOOSE EGG, so if I was placing my bets, the next "big news" is a REVERSE SPLIT, and it's "imminent" and "soon" in PPHM-speak.