Avid Bioservices Inc (CDMO)

[senrex]

KT...I understand your position. However, I've crossed the rubicon with this management. As I said, offering a PIPE at a near yearly low pps -- after saying this option wasn't being considered and telling my broker outright that they were definitely going the banking route has ruptured my confidence. The 10% of the proposed new shares going to management does "reward" them -- and I don't think they've earned it.

I understand the argument that management may need the shares for leverage. They've just gone to the well too many times -- and the stock price has stagnated far too long. It's incredible that they've licensed nothing to this date (not to mention the mystery surrounding AVID's failure to contribute more to the bottom line).

They need to evidence a greater respect for their shareholders. They have snickered at our suffering from the huge short position and generally indicate a great indifference and callousness to those who own more common stock than they do in this company. This company provides management with a very comfortable living. Unfortunately, that's not the reason why I invested in PPHM.