Avid Bioservices Inc (CDMO)

[EYEBUYSTOX]

Re: Updating the share count...

...you can't very well sell $100 milllion in junk bonds without an updated look at the finances posted via an SEC filing. While this information was probably well known to the eventual preferred share purchasers (because they probably bought most of the ATM shares themselves), it had to be made public.

What, were they just going to hope someone investing $100 million didn't ask for an updated share count? No one would have bought that. This was done so that they can raise the funds legally IMO, even though it's probably being done after the fact in practice.

So, 176 million OS...now I'm REALLY curious about this conversion rate. But my guess on $2 just went up to at least $3. They'd be in line for another class action for breach of fiduciary duty if they issued preferred with a $2 conversion and 10% interest a month after they sold 17 million shares for 1.75 with NO INTEREST DUE EVER!.

Lets see...Wall St. likes round numbers so I'd guess $3-$3.50, which gives us about 250 million OS all in fully diluted...whatever that number is. All IMO.