Avid Bioservices Inc (CDMO)

[Protector]

PG, thing calmly about this;

This move come at the moment that PPHM is about to get commercial profits and kept its PS targeting IP and pipelines 100% unencumbered.

For all we know Ronin themselves helped to push us into an RS so that shareholders would be ripe to pick from the tree because the timing reeks.

Furthermore, yes the BoD is paid a lot if you compare salaries as done in the letter. But I think we all know that those BP corporate CEO have plenty of other advantages up to and including usage of Private Jet and so forth.

If a party proposes to take over at SUCH A CRUCIAL MOMENT as where PPHM is (close to profits, super Avid, Exsosomes, etc) and wants to install THEIR OWN PEOPLE, then I think twice.

Ronin has filled up with PPHMP. What, AT 10.50% would be its intensive to have the new directors ever buy back and close PPHMP? New directors could well try to make PPHM private. Ronin and Co have the pocket depth, ES and Co not. We would be the losing party because if Ronin's Directors sell to some Ronin interested party we NEVER REALISE REAL VALUE and can class act for decades.