Replies to post #75576 on Avid Bioservices Inc (CDMO)

[cheynew]

On the last proxy the following shares were listed:

Name of Beneficial Owner (a)

Number of Shares

Percent (b)

5% Stockholders:

Eastern Capital Limited (c)
P.O. Box 31363
Grand Cayman KY1-126, Cayman Islands
3,961,568 5.49 %
Executive Officers and Directors:

Eric S. Swartz
1,053,340 (d)(e) 1.45 %
Steven W. King
397,919 (d) *
Carlton M. Johnson, Jr.
334,881 (d) *
David H. Pohl
329,222 (d) *
Paul J. Lytle
238,185 (d) *
Joseph S. Shan
134,435 (d) *
Shelley P.M. Fussey, Ph.D.
131,898 (d) *
All directors and named executive officers as a group (7 persons)
2,619,880 (d)(e) 3.54 %

__________________
* Less than 1% of the outstanding shares of our common stock.


(a)

The address of all of our executive officers and directors is in c/o Peregrine Pharmaceuticals, Inc., 14282 Franklin Avenue, Tustin, California, 92780.

(b)

Percent of common stock computed on the basis of shares outstanding at August 11, 2011, plus shares that could be acquired through the exercise of stock options that will become exercisable within 60 days of August 11, 2011.

(c)

The information set forth herein is based solely on information contained in Amendment No. 2 to Schedule 13G filed with the SEC on November 18, 2010 by Eastern Capital Limited.

(d)

Includes shares which the individuals shown above have the right to acquire as of August 11, 2011, or within 60 days thereafter, pursuant to outstanding stock options as follows: Mr. Swartz – 397,222 shares; Mr. King – 343,562 shares; Mr. Johnson – 327,222 shares; Mr. Pohl – 327,222 shares; Mr. Lytle – 187,187 shares; Mr. Shan – 123,999 shares; and Dr. Fussey – 112,499 shares. Such shares are deemed to be outstanding in calculating the percentage ownership of such individual (and the group), but are not deemed to be outstanding as to any other person.

(e)

Includes 107,739 shares of common stock owned by Swartz Ventures, Inc., 110,000 shares of common stock owned by Highlight Fund, LLC, and 52,978 shares held in an Individual Retirement Account (“IRA”) for the benefit of Mr. Swartz. Mr. Swartz has sole control over Swartz Ventures, Inc., Highlight Fund, LLC and his IRA.

[jakedogman1]

Can't get to it today. Short answer. Too many at too low a price. I don't mind mgmt giving themselves options for a job well done. Selling 30% of the company for ten cents on the dollar of development costs is not a job well done.