Avid Bioservices Inc (CDMO)

[investingdog]

<< The reverse conversion will not soon be used anymore >>

You can put that on our wish list. It has been used on ARNA last few months to the tune of few million shares, also on VVUS a while back etc. It is not illegal and even if they "fail to deliver" nothing happens. Look at the NASDAQ fail to deliver list, it is huge, that shows how much illegal shorting goes on without any consequences. Since MM doesn't have any risk in reverse conversion this practice is likely to continue. You can download the Current Fails-to-Deliver Data below:

http://www.sec.gov/foia/docs/failsdata.htm