Replies to post #236113 on Avid Bioservices Inc (CDMO)

[Protector]

senrex, you just picked the interesting case. If they would go for that option I'll pay them a bonus from my personal profits. It would mean the leveraged they price of the REMAINING shares (that are our shares, the BoD and employees shares and options, etc).

The RS done by the CURRENT PPHM (NASDAQ:PPHM) after the merger (TCLN) was 1/5 if i remember well, not 1/10.

A Reverse split as such is not a big deal, it is a ZERO transaction, but indeed it creates space (a price window) for shorting. BoD/Managment/Employees/retailers/IIs/Funds/ect all don't want shorting.

I wonder if a company can change its bylaw stating its shares CANNOT be shorted. I know it is possible here (legally) but I think NASDAQ/NYSE would probably not want to list such stock (not sure).


Frankly, I think there is NOTHING going on, they just want a new shelf as a potential salvage tool and for ongoing cash raise till SUNRISE approves probably about 2-3 Mil shares per quarter depending on Avid's performance.

[cheynew]

"I've always worried that, in the end, the retail SH somehow will be shafted. "

There is nothing in the history of the BOD (absent King) that would indicate they will do anything other than line their own pockets to the detriment of the company they have a fiduciary duty to guide to the best of their ability if you look at the dismal shape of PTSC and what was the other one, Ecotality or something?

I may have the numbers slightly wrong, but didn't PTSC under Johnson's guidance pay something like $20 million for a patent portfolio and then a couple of years later write it off?

Look at the lawsuits we've been involved in...the slam dunk we had against Epstein cost us $400K in the end plus legal fees and of course, our recent CSM suit we said caused something like $2 bil in damages and we got $600K due no doubt to poor contract negotiation by our resident legal beagles. The switch to Delaware site of incorporation and including the clause that gives them a permanent board seat as long as they get one vote was also under their watch.

I know I have said all this before but looking at this going under $1 AGAIN when we should reasonably be trading at a much higher level really frosts me. Many of us bought and have stayed on because of our belief in Thorpe's science in spite of these warts. It is starting to look like the warts will overpower. I give the PPHM staff (not BOD) credit for salvaging the Phase II trial. They need to upgrade the BOD and several key positions like the CFO and in house legal to prepare to be the company they could be if they had the respect of first rate investment bankers and Wall Street.

That's my venting for the day.