Ok, so you are saying that Ronin and his scientific advisors are stupid and couldn't possibly understand the value of Bavi like the laymen here do. You never really mention who has more incentive and more ability to get the maximum value for Bavi. I think that's important.
It is in interpretation. I interpret what he said is that in all of the years this current BOD has had to establish value for Bavi, they have failed, despite all of the dilution that went in to funding it. This is certainly inarguable. Before Ronin started to buy in the mc of PPHM was less than 90m. That includes about $50m in cash and all of Avid. Bavi, as many mentioned here, was valued at zero. That is what those in charge were able to accomplish with it. Ronin stated that he wanted to get some independent scientists to evaluate it and find out what it is really worth to somebody that had the ability to fund it.
That is what he said no matter how it is being spun here.
He is 100% accurate in stating that the current crew have not established any value at all for Bavi.