Avid Bioservices Inc (CDMO)

[bidrite]

N40k, perhaps it's time to consider the facts that have recently come to light as it relates to Avid & Steve King:

Seven months ago we were told by King in a quarterly CC and via SEC documented PR's that the company was pursuing sustained profitability with Avid and we would be self-funding R&D. We now know that at the exact same time this was being told to investors/shareholders that he was actively trying to sell Avid, the only revenue generating mechanism we had aside from the ATM. This alone is grounds for another lawsuit.

We now also know that Ronin strongly opposed the selling of Avid. It's officially documented here if you don't believe me. http://tinyurl.com/yawap9k5

Now fast forward just a few months after Steve King was trying to sell Avid and we're being told the company is fully transitioning into CDMO and selling the R&D instead. Why all the flip-flopping strategies and lies from him? Now they are also up against a timeline of Nov 13th before lawsuits come in to force a leadership change. All this means that they are now scrambling in a matter of weeks to make some sort of deal with whomever will talk to them. I would call this a fire sale if I've ever seen one.