Replies to post #305916 on Avid Bioservices Inc (CDMO)

[Protector]

geocappy, we disagree!

Again, if the current BOD and management team can't put an argument (deal) together in the next 2 months after all the time they have been there, they need to get out.

If they do NOT defend themselves against the Ronin/SW accusation in the public letter they MUST GET OUT EVEN IF THERE IS A SUDDEN DEAL!

Not replaced by RONIN/SW candidates might create a delay, BUT if they stay then potential companies that need to sign agreements with PPHM will ALWAYS be in the dark about what type of corporate control they are signing with.

I am NOT accusing the current BoD of anything, I am just saying that their reputation has been officially attacked and that a non-defence for me means an implicit acceptance of what Ronin/SW wrote.

I initially made an exception for ES (because if you read carefully what Ronin wrote then one can see that they only succeeded to blame him indirectly or by association or by cherry picking, while the two others have clearly been placed on in a consistent role.

However, again, if you need to sign a contract (say partnership) with PPHM then you KNOW that the main control is excreted in the BoD. You CANNOT have doubts about the people in the highest organ of your company.

SO NO DEFENCE is BE GONE, no matter what deal you come up with. We may not be able to do it NOW and Ronin might even have been anticipating that, but that doesn't mean I'dd blindly jump in whatever solution that is there, even if worse then the current one, just to make a point.

I have a PPHM position to take care of and I adapt my position according past and new facts as they occur.

Now I know for a FACT that CEO King knows many of the suggested replacement BoD members personally. Either because they were part of Dr. Thorpes lab (such as Dr. Brekken), or because he works with them (such as Dr. Garnick) or because they are PPHM KOL (such as Dr. Antonia, Dr. Gabrilovich), or because they published on PS-Targeting (such as Dr. Birge (Rutgers)), or because they are part of collaborating parties (such as Dr. Wolchok) or because he knows them as a customer (such as Helen Torley the CEO of Halozyme), or because they have proven to be long term, in good and in bad times, investors such as Kenneth Dart (Eastern Capital), etc.


So he could EASILY contact them, hear them out if they are willing and propose (as PRESIDENT of the BoD) that 3 of them (or even one or two more) replace ES, DP, CJ.

King can keep his remuneration (as long as his patents are assigned to PPHM) and while he is CEO. The new ones could be placed on lower remunerations depending on how they will function for the BoD.

That is where we need to go, EVEN if it takes some more time, RATHER then jumping in the water following a BRAND NEW investors that didn't have a SINGLE PPHM share 6 months ago, invests and then suddenly finds out he invested in a company with a BAD BoD and happens to have 3 candidates of his own readily available to replace them.

There is a tail in French, it is called "Les moutons de Panurge" where all sheep spring in the water ones the first sheep does the same. It goes without saying they all drawn!

AIMO.