Avid Bioservices Inc (CDMO)

[geocappy1]

Jake

I have been rethinking everything you have said about management and options and while I may agree with your overall premise, what to do about it is the question.

If I believe it all then management has kept the price low because they do not have their options. They do not have their options because we voted against them last year and so they are keeping the price low (by the way it has gone up from .22 to .65). Let's assume it should be at more than twice what it is even though it has gone up.

Are you saying if we vote against the options they will keep the price low for another year or dilute the shares on purpose until they get their options? Because in that case you are suggesting by your argument we should vote for the options. In fact, we should have voted for them last year when you old us not to and this would all be behind us.

Trust management or your advice. Look what happenned when we trusted your advice last year. By your own argument we would be much higher now and not dealing with a potential RS.