Avid Bioservices Inc (CDMO)

[corporalagarn]

After giving it some more consideration, I think Avid is in worse shape than I originally thought. The going concern is troubling. I would like to see the Auditor's rationale for not having it last year but having it this year. It has to be on some forward looking information.

We have $14m less cash than a year ago but $8m more in current assets. The one year of cash requirement is not a reality so that has nothing to do with it.

There is no debt either year.

We will have way less R&D expenses for year end 2018 compared to 2017 as Sunrise is almost wrapped up and we are doing almost nothing else R&D-wise.

We just came off of our best year revenue wise and our best year in some time loss wise.

We publicly said that revenue should be flat this year. Flat revenue with reduced R&D would give us a loss of $10m to $15m. We have more than that in cash. Something doesn't add up.

All of these things and we get a going concern this year and not last?

I guarantee that the auditors know something we don't know about future revenue certainty and it is not good. That is the only way they could justify a going concern for this audit.

This crew is screwing up Avid.