The document discusses various client-side exploits that can be performed using PDF files. It begins by providing background on PDFs and how their programming capabilities have led to security issues. It then examines different types of exploits such as launch actions, which can execute files or scripts when a PDF is opened, and AcroJS exploits using vulnerable JavaScript APIs. The document also covers obfuscation techniques used to evade antivirus and provides a case study of embedding an executable into a PDF to automatically execute it. In summary, it analyzes the threats posed by malicious PDFs that abuse the format's programming features to carry out exploits or unwanted code execution on a victim's system.