Bio Path Holdings Inc (BPTH)

[Gpheart2016]

After reading the statement more carefully I can see that the intention is to clearly make it more difficult for shareholders to make a change in the board of directors. It will not be possible to put together a quick proposal to change directors but require notification 60-90 days before a board meeting. It will also require a larger number of voting shares to add a new director.
It appears that Mr Nielsen may be nervous but I doubt that he will "drain the swamp."