Replies to post #43035 on Avid Bioservices Inc (CDMO)

[Stealthy_Lurker]

I don't know Moby. The "Plan Effective Date" is defined as follows:

"T. Plan Effective Date shall mean the date on which the Board adopted the Plan. "

Furthermore:

"On July 9, 2009, the Compensation Committee recommended and our Board of Directors approved, subject to stockholder approval, the 2009 Stock Incentive Plan (the “Incentive Plan”). "

Hence, pursuant to Provision V. C. cited earlier by C.J., it could be argued that any change to the "Common Stock" by reason of "any stock split" occurring after the BOD adopted the plan on July 9, 2009 subjects the stock "issuable under the plan" to "appropriate adjustments", i.e. reducing 15,000,000 shares down to 3,000,000 shares.

http://ir.peregrineinc.com/secfiling.cfm?filingID=1019687-09-3169

All in my opinion.

[1967_sojourner]

ASM primer

Question #1 - Approval of the BOD.

What you need to understand: You are an owner of stock but have no actual voting power. As I understand it one "aye" vote out of the total number of authorized shares is enough to keep this group of yahoo's in control of the company ad infinitum or should I say ad naseum. Did I mention they get $2k per phone call related to PPHM?

Carlton Johnson - Paid shill of Eric Swartz - nothing more, nothing less. He pulled in I believe $170K this year for his work. He's been doing this for years. A mere placeholder IMO, Johnson brings absolutely nothing to the table to either current or potential shareholders. Verdict - IMO Negative impact on average shareholder.

Steven King - CEO. On the whole, has only managed to bring shareholder pps value down in his tenure - the brief upsurge this year will now be followed by a R/S under his tenure - paid in excess of I believe 400K per year. Verdict - IMO Should be CTO not CEO - Lacks enough leadership and charisma to be CEO. Negative impact on average shareholder. .

Eric Swartz - Reality - this guy controls the company and only this guy. Steve and the other members of the BOD are his biotch. Supposed saviour of the company. Perhaps many years ago, but his generosity in keeping the company afloat and in owning less than 1% of the company is the honor of controlling it completely and utterly. Shareholders are a mere annoyance to this man and he gives not a *#( about you. I have worked for companies funded by venture capitalists (a sometimes necessary evil) - but all and I mean all placed members on the Board who would bring value to the company, not their buddies - its bad for business and makes me wonder whether this man knows anything about business or was simply lucky at one point in his life. Has pulled in 80k or more per year from PPHM for years. Verdict - IMO Should replace himself, Pohl and Johnson especially, with biotech business capable members. Negative impact - lacks enough WS cred to move stock and company forward.

David Pohl - Another shill of Swartz and I believe CEO (at least at one point) of PTSC (look at that stock to ascertain this guy's credentials!!!). Useless, IMO, absolutely useless. Pulls in 80k+ per year to do nothing. Verdict - between him and Johnson IMO its a race of shabby shills dressed to the nines on your and my dollar. Grotesquely negative impact as he is intimately tied to PTSC!!! Really hard for an institution to take PPHM seriously with this guys creds.

Question #2 - Audit

Boilerplate. Vote yes to move the meeting along. Vote no to annoy.

Question #3 - As I have stated before I have worked for companies funded by venture capitalists. While I received options, I received a mere trifle compared to the top 10 individuals/investors (not top 10%)in the company. A good rule of thumb is that 90% plus of the shares end up in those top 10 individuals hands - that would include in this case the BOD, probably Lytle and a couple of others at most. If you think these individuals deserve it give it to them, if not, send a message! Verdict - Until I feel my pockets getting heavier I won't be letting them keep pulling from them either.

Question #4 - If you think you are sitting only on a tax loss write off then definitely vote for #4. If you think PPHM will maybe sellout to someone far more capable than the Swartz bunch then vote it down. I will vote no, but I think TYP is on the right track - a proposal to allow the majority to vote out the BOD would be nice. ;-

General Notes: Remember you are now a possessor of 1/5 of the shares that you previously owned compared to the total number of authorized shares. A free reset for the BOD. If anyone can come up with a positive R/S I would love to hear about it - anyone?

Yes, this is all done in my personal disgust toward the company in general (not the good hardworking employees who will never be truly rewarded), its to date useless officers and especially the BOD which I believe holds me in contempt as a mere funder of their wretchedness (they haven't gotten out of the late 1990's and 2000 - the good times keep rolling for them). IT is all IMO.

On the plus side I am still a big fan of the good Dr. Thorpe.

Feel free to correct and rant back if you wish!!

and as always regards . . .