Avid Bioservices Inc (CDMO)

[RRdog]

Geo,
Apologize if reading too much into your comments.

You do question the thesis on Avid but importantly, PL seems to think it is doable after nearly a year and a half of prodding.

Again, I would never give PL any wiggle room. ATM at these levels would be really stupid for reasons previously stated. To those I would add:

1. Aborting of this rally
2. Break of the implied covenant in PL cc remarks.
3. PPHM now has a much better inside view of the real value of their equity.
4. Avids' cash flow and backlog support a modest loan many times over.
4. PPHM should treat their equity like the gold it may become if they want everyone else to treat their equity in the same manner.

EOM on this subject

Regards,
RRdog