Avid Bioservices Inc (CDMO)

[westjtter]

Yes, not sure how long I can hold my breath waiting to hear something from Nick, but it is an Avid mandate to have 4 quarterly CC's when the financials are released. Quarterly CC's are pretty much the norm for publicly traded companies, so not sure if they can just ignore this mandate because of their convertible slip up(or perhaps f--- up is more appropriate)?

I believe this is a pretty critical event that requires some kind of explanation along with some kind of assurance that this was an oversight by all of top managment and their legal department, and steps have been taken so this kind of thing does not happen again! As shareholders we have clearly been damaged financially as has the credibility of Avid. Last I counted there were 7 independent class action legal investigations ongoing....now none of these may turn out to be class action lawsuits, but still an area of concern.

Were we(Avid) set up here by the original lenders of this convertible? Management did manage to negotiate a new convertible loan fairly quickly, albeit with a much higher interest rate....but still, that was a very smart and quick move so management did show some resilience! But I am certain there is information that we as common shareholders are still not privy to, and I believe we do have a right to know!

If there is a legal entity which negotiated this and was to administer the terms of this convertible financing, perhaps there is legal recourse(yes I know I am reaching) here?

In any event, the lack of setting a date for our quarterly CC has to be addressed....it cannot be ignored, so I as I have indicated earlier...very, very curious what might come out and how Nick is going to spin this, or if he is even going to spin it at all.

He may just say....heh we screwed this thing up, sorry, but this does not fundamentally change the outlook for Avid going forward and.....yada yada yada!!!