**8-15-12: CEO STEVE KING'S 29MIN. TALK AT WEDBUSH/NYC http://tinyurl.com/8mhrtld …SK: "We've laid out our strategy for financing the company; we've not been raising money thru the capital markets in any way. We're not currently planning on going out for, nor have we been actively involved in any other fund-raising activities. Right now, our stated goal is to pursue a debt-arrangement - with an asset like Avid Bioservices, we can get very preferential rates on raising debt-type funding right now, which we feel is the least-dilutive for the company. In fact, our stated goal is to raise $20-30mm thru a debt facility between now and out next earnings call on Sept. 10, 2012. With that capital in the bank, we’ll then will have a 1yr+ runway. We believe that will get us thru the partnering discussions, and then with a partner on board, then certainly we expect that’ll bring in the capital needed to move the company forward for what should hopefully be several years time period. So, that’s our goal – we have a nice, clean cap structure, minimal # of warrants, stock options – there’s no convertible debt on the books, so we think we’re in good shape as we continue to move the company forward into those successful partnering discussions.”
O/S WARRANTS & STOCK-OPTIONS A/O 4-30-2012: From the 4-30-12 10-K (pg. F-30 & F-28): ...219,967 warrants o/s with wgt.avg. exercise price of $1.48 (exp. 12-19-2013) – none iss. in FY10-11-12. ...7,402,248 stock options exercisable & expected to vest, with a wgt.avg. exercise price of $2.93.