Avid Bioservices Inc (CDMO)

[Protector]

jakedogman, some remarks about conversation with SW:

As I understood you talked to Stephen White.

A) Your example about Stafford III taking 40K$ will NOT fly if Ronin puts 3 people on the BoD. Stafford III did NOT put himself candidate as a BoD member here and that tells me the intentions are NOT comparable with XENCOR. If those guys work for 40K$ yearly, that is less the 4K$ per mounth they are idiots. If it is 40K$ monthly then they are paid almost as the current BoD (hence as they claim themselves more then the average BP CEO which is of course a misrepresentation in their letter as you can see here.

B) WHATEVER someone from the Ronin/SW corner may say, we will ALWAYS depend on claims because they will NEVER place limitation on paper. This means that they can afterwards create ONE SINGLE event to do what they said they would NOT do and vice versa.

C) Ronin DOES NOT splell out there plan. The claim to have a problem with CEO King and CFO Lytle because they did NOT tell them the long term plan (and translated it into - did not have one because if we know the long term plan then Ronin knows it also as it was public) YET they are even more vague:

- sell PS targeting (monetising can range from breadcrumb to super deals but since they claim that Bavituximab doesn't work in their opinion we may assume breadcrumbs rather then super deals).

- continue to extend Avid (which is THE SAME thing PPHM does).

So their differentiator is to extend Avid (possibly faster) by selling out the PS-targeting platform and in ALL CASES STOP PS Targeting activities.

NO the people that INVESTED in PPHM are exactly here for what Ronin wants to push away. We have NO idea about the formula and we will KNOW when it is to late to react.