Avid Bioservices Inc (CDMO)

[biopharm]

I could understand and support his entire approach if there were no history. But there is a long history and a telling history where a case can be made that the previous BOD was not aligned with our interests. A case can be made that we were played by a group of greedy, manipulating individuals that were only concerned with padding their own pockets. And he is their guy. It is not the best strategy under that scenario and shows a lack of understanding and empathy for the situation at minimum. And it doesn’t make good business sense to continue on a path that only leads to mistrust with his shareholders. It will likely cost him in the end. He had a chance to turn mistrust into trust and squelch the concerns and he blew it. I have worked with a lot of Phd’s and arrogance seems to rule the day with some of them.
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I can relate to this statement and Dr Roger Lias was Steve Kings choice, although it was stated a third party was making a list of candidates so it would be interesting to have access to that 3rd parties complete list of candidates and if they gave the short list of candidates over to the prior BOD where they did ultimately choose Lias that so happened to make it into the short list.

I am curious though, when you say "It will likely cost him in the end"

How many CEOs have been removed from their position ....or how many BODs have been removed due to their interests not aligned with shareholders and this is why the standstill agreement may be illegal in some ways, because if the majority of investors include all Ronin Hedge Group parties, then they are backing current BODs no matter what

The question is, can the minority group of investors.....show that the current BODs are not prepared to seek the highest value out of PS Targeting IP, which includes fighting for the disclosures of past PS Targeting researchers that have been silenced, also uncovering the sealed documents from Sabotage in CSM Fargo ND , uncovering all collaborations ....and making it clear that Bavi treated patients from Sunrise that went in to other FDA SOC have the highest MOS in a subgroup that was ever extracted in the history of NSCLC patients.

There is so much more the current BODs could be doing....yet I do not think they are prepared or worse yet, would be allowed to do or approved by others controlling their moves possibly....which if so, then that is clear they must be removed from their positions.