Avid Bioservices Inc (CDMO)

[holotawoopas]

Here is what I surmise,

Ronin and company took a large position because they saw potential growth in Avid and a good prospective drug IP.

Ronin talked with management about how they are running the company and their near term plans for Avid and the IP.

Ronin did not think PPHM cared about creating shareholder value after talking to them, plus they saw the ATM sells going against it also.

Ronin then decided to put a pre thought out plan in motion to get a group of experienced people to set PPHM on a path for success.

Ronin then put out the letter to shareholders to explain why the COB must be changed and the culture that went with them.

So I see the context of the letter as an explanation of why the current BOD must go!!! not a denunciation of Avid or our IP!!!

nuf sed