Avid Bioservices Inc (CDMO)

[jakedogman1]

king came from the lab with no business experience whatsoever of no business being a CEO of a publicly traded company (same w/ lytle in CFO role as in no business being in position) imo and no understanding of capital markets, finance/economics, financial/economic modeling as it pertains to drug development. king was a plant for ES along with his other two lackeys.... ES ran roswell... a penny finance player and es had offshore connections.... what a perfect setup when you have the inside scoop... and the shorts made a lot of money over the years of being on the right side of the trade from an info standpoint... that's another topic altogether...

now throw garnick into the equation... lost his position when roche took over genentech... found bavi which showed alot of promise w/ respect to avastin (the drug to beat at the time).... had nothing to lose money wise and a trophy hunt to take down BP.... bet the farm w/ sunrise (but i think carefully designed back door w/ I-O landscape)... the company got their direction from garnick imo and (Based forwarded emails of conversations w/ ES and another shareholder)

so mgmt was in the position to keep a lid on the IP while slowly transferring equity to themselves via options and getting excessive pay in the meantime with no oversight and all the tools to set up a moat around themselves.... and they acted with impunity threatening and thwarting shareholders demanding change ...

now ronin shows up... at first mgmt is in no hurry to expand bod per DS settlement.... now the feel the need to expand bod.... primary purpose is to remain entrenched...

the quicker we can shed ES and crew from the company, the better for shareholders... the IP will be put in good hands with a decent chance of recovering value if value is to be found and that corresponds to how much risk and money one is willing to put forth... and remember the landscape has changed when "astronomical" was in vogue... and with a ES purge, institutions that invest other peoples money could have confidence that the foxes have been removed from the hen house... when that happens we will see the SP reflect the value of the company on a forward looking basis with a positive bias...

and right now the best road forward is ronin as either lead horse or a significant horse in mgmt...