Avid Bioservices Inc (CDMO)

[keep_trying]

Bidrite, so we are in agreement about the Broker Non vote shares not being applied to non routine matters like the Board election. Good to know. Since PPHM treated the 2016 election in that manner, as shown in your example SEC filing link, I see it is unlikely that the 2017 election will receive opposite BNV treatment.

That leaves the matter of the four million share short emerging and clearing at that time critical for PPHM shareholder interests, apparently functioning to suppress the share price while Ronin established their 9% position in PPHM. While I understand it can be in Ronin's interest to do that approach to establish their PPHM position (plus Tappan emerged with shares as well), I am trying to understand why Tappan/Ronin thinks their emergence has been a net benefit to long retail shareholders? We heard from Ronin that their post Board election follow through expects to deliver a better pps outcome through Avid sales than PPHM had in the works with hiring Lias. A $50 million Avid annual sales base supports more than the current share price using the PS ratio of 4 to 6. The Ronin position establishment just used the short to shift ownership from retail investors hands to hedge fund investors, it seems.

Best wishes and IMO.
KT