Avid Bioservices Inc (CDMO)

[jakedogman1]

I spoke with Tappan a while back before they increased their position. They basically gave the IP zero value in their evaluation and at the same time hoped they were wrong. Some of the telling signals they said was the BOD took cash vs stock. If the IP was so valuable, they would have taken stock. And the fact that they owned very little after so many years and had the best access to information was telling. They also thought AVID had a lot of potential. So the argument that the IP is so valuable is not supported by the folks that have front row private seats.

At the time I spoke with them they were on the sidelines waiting for Ronin's next move which was shortly followed by Ronin's letter to shareholders. Soon thereafter Tappan increased their position. They did their homework on Avid and also said Ronin is a good investor and the reputation is that he does his homework. I would expect that several more large investors will jump in once the current BOD is removed from the scene.

I also find it interesting that mgmt wanted to part ways with AVID and hang on to the IP which is a good sign that the IP probably has value (in capable hands). The drag on the company IMO is the BOD and the reputation they have in destroying value while gorging themselves. But that's what parasites do. All imo.