Avid Bioservices Inc (CDMO)

[Big On Tarvy]

I will wait to vote my shares until a few days before the meeting.

I hear (and you already know) that several major announcements will be made over the next two weeks.

If Mgmt. makes a run to burst through $1.00 without first doing a r/s, I will vote YES on the Incentive Plan, regardless of the success of their effort, because it means they did their best to protect the long-suffering retail shareholders who got the Company to this point.

On the other hand, if Mgmt takes the easy road and does the r/s first even though they have lots of major news to announce (I mean news like Duke publication in Nature’s Oct issue or big money thru a Cotara license or a major new gov’t anti-viral grant), I will vote against the Incentive Plan. Such a scenario means they favored having all the new authorized shares over going to bat for the retail holders like us. If Mgmt takes the easy road by doing an “unnecessary” r/s, then I want them to suffer the same r/s affects I suffer and not make up for lost shares by granting themselves new stock options.

The difficulty will be in deciding how to vote if the r/s is done first and is followed by only modest news. In that case, I may vote “for” the Incentive Plan. The Board’s first responsibility is to assure that the NASDAQ listing is maintained. I won’t punish them for doing that if the r/s was “necessary.”

Let’s wait and see what comes down. Either way the next two weeks will be exciting.