They told us what happened and Hart or Ziebell never read the indenture!!!!!
From the report:
"Specifically, our debt internal controls did not include the periodic review of covenants, acceleration clauses,
events of default, and other pertinent information in our debt agreements as of April 30, 2023."
IMO I wouldn't use the term "financier", Maybe Loan Shark would be more appropriate. Since they are making double interest (7% plus interest on the money received from selling short) on the money they lent Avid. All with no market risk.
Fact percentage of revenue that is from HALO
Customer 2024 2023 2022
Halozyme 33% 53% 41%
Kinda makes you think why they can't full capacity???
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