Replies to post #270117 on Avid Bioservices Inc (CDMO)

[bidrite]

The registered letters to complain pphm is planning to break no rule or law?

No, I believe it's the registered letters warning the BOD (whose job it is to protect shareholders) not to do anything shady and harmful during a RS like they did the last time. Pretty sure that's the new mantra.

[exwannabe]

The registered letters to complain pphm is planning to break no rule or law?

Since the RS will be via shareholder vote (and the proxy will disclose the authorized share issue), yeah.

But I have some "what is right" issues that I think the SEC (or Nasdaq) should be involved in as a general issue of shareholder's rights (the true rights, not the BS commonly called poison pills).

One is that they are effectively combining 2 separate issues on one vote. RS and rasing the effective authoized share count. This really should be broken out to allow shareholders the ability to vote for the RS, but not the effective share count increase.

The second was the total garbage in declaring last years authorized share count vote "routine". That should have to be non-routine, thus giving shareholders some real input into the vote (this is an NYSE rule that guides the issue).

As always, my rant is against "the system" and not NWBO in particular. The SEC and NASDAQ/NYSE need to get real. I am not a big gov person, but the US needs to fereralize coprorate law for public companies so that Deleware can not continue to f'k shareholders over so they can collect some free tax money.

EDIT on PPHMP shares:

They will certainly be adjusted such that the RS is neutral. I doubt they will be split though for 2 reasons.

A) It needs it's own vote, which might be tricky if Dart does not have enough shares.
B) It is so thinly traded that an R/S would impare trading.