I have no idea what you're even talkin about. Advaxis filed the primary shelf and then filed 2 additional s-1's. The shelf was filed when we were over 2$ without any warrants. We then filed an amended s-1 with a stock price in the mid $1 range and added partial warrant coverage. We then filed another amended s-1 and ended up offering .75 warrant coverage at a $0.70 price. That's what happened. These guys got played - the financiers bungled this too - it was an abhorrent raise.

stocks do offerings when they need money

No kidding people do offerings when they need money. Advaxis still had cash through the end of the year so they must have seen nothing on the horizon to offer the company at this discount and this size.

They sold the entire company to these guys for nothing. What do you mean how'd they raise 15 million!? They managed to take the company share price from over 2 bucks on the first filing to .70 cents and then got them to add warrants on top. This is chump change. Does it even remotely matter at this point? Maybe they go private, maybe they sell at the next pump, maybe they think they can sell some assets. They got all of advaxis for 15. There's nothing special about this raise, point is they wiped the slate clean of all shareholders.

Wow. It does look like they violated the 20% rule (and i wish many others)! The only issue is it looks like it's a rule for the Nasdaq and is a qualification to be delisted. At this point does it even matter with them already under a dollar and on watch?

Total sham.

Note: Ig might also be right with the "private placement" designation being a sticky point.

It is unconscionable that it is legal to have a toxic financing that takes away almost all of the equity of current shareholders without a vote of those shareholders.

Completely agree with this. It's unconscionable what went down.

All this shows to me is that no matter what our brokerage account might have said, we never owned this company to begin with. This thing is owned/ran by the sleazbags in charge and the toxic financing crews that have used this as a tool to extract value from retail. No chance a single rational LTSH would have approved what they did in the last offering, but it happened anyways. It shouldn't be legal.

It's pure stupidity and greed that got us all wrapped up in this garbage scam. The spending, ribbon ceremonies, bs artists that posted like they knew what was happening ie 10 billion valuation, axal deal for sure, Tony and his Ibanking experience. Everything was total nonsense talk but I needed to hear it all to hammer in that in the end no one knows sh*t. Don't fall for the talk, especially when all signs for last couple years pointed to this.


Still would love to know why doc left/fired. Never will because they won't say, but that was the beginning of the end for this company.

ADXS has no regard for existing shareholders, it is beholden to the next funding round 

This is 100% reality. Glad everyone is woke now.

I was using hyperbole when i said the company was worthless. The point was we don't know how the licensing rights for LM would be transferable in the case of shutdown/liquidation. Or maybe you do?

Good point. So advaxis the company is basically worthless.

The only good news is that they will expect a return, and the Undertaker and Sidransky won't have enough control to stop them. VCs are not little powerless retail shareholders

If they actually do care when can we expect them to request a seat on the board? This should be at the bare minimum if they're truly looking to see this thing do something.

P1 Neo is starting year 2 already and we have 3 patients going and zero interest. Idk what the strategy of a VC is at this point. Capital will be gone shortly. This last round of financing was chump change for a company in this arena.

Who’s going to want to fund this garbage company and team? The science hasn’t garnered any money/attention from BP or otherwise. I’ll admit that I keep asking myself if the science is truly as bad as it looks, or is it just management and their terrible execution that has led this equity to a negative valuation.. I have no clue and am not smart enough to know if the NEO results are even remotely as promising as management says they are in order to continue this investment sham. The reputation of this company on the public exchange is shot.

I personally think they give it 6-9 months and if the science still has zero demand then I’d say there’s nothing left for NEO or HOT. LM IP is sold to a buyer for cheap. Probably shelved but who knows.

.

The amount of capital this company and its employees have extracted from shareholders is mind blowing. 20 years to be here shows they have no idea what or how to manage this. They've destroyed countless rounds of shareholders that have taken a chance and took them at their word. Now a P1 company again, the people that have been in charge here shouldn't be rewarded a day longer. Time for this ship to sail and close down and sell.

One would think we'll start seeing a couple more of these now. This group only accounts for a fraction of all the shares dumped in this joke offering.

ADXS sold themselves for nothing. If they had decent news coming 2H they could have waited instead of chasing this to zero.

ADXS should be immediately closed and the cash distributed to shareholders. The tech should be given to an IP investment bank like OceanTomo to sell.


Exactly this. People will again say you just want this company to fail - NONSENSE. This company has annihilated so much capital and made so many promises to no avail. They're unfit to handle this and they will continue to bleed people dry. Zero results is the name of the game here. In what world can you get away with this and still make 500k a year while spreading total BS on conference calls and making fake partnerships.

Honestly, does it even matter anymore? Every single shareholder here just got completely wiped out yesterday. Everyones investment over the many years is now gone. Ken has managed 3 raises in just over a year. All of LM tech was sold at a 5 million market cap and they managed to increase the share count by 300% (excluding normal warrants). What a company to support.

I suppose if you're looking to buy in again then best of luck. GO team ADXS.

The recent PR's today and the filings on the SEC website don't match up. WTF is going on with this company.

The notice of effectiveness does not reference an S-1 that has anywhere near the same verbiage as the PR's on Advaxis's website. What am i missing?

Did their IR team leak the PR early?!?

I get this whole offering is a sham. Not a single LTSH with any sanity left thinks this is even remotely reasonable.

I'd just like to get my facts straight that adxs will be giving away 17 million free shares in 30 days if the company doesn't get this above the strike price of $2.80 and maintain it (weighted average) through the 15 month window? Or is this way off base.

Anyone?

That sounds to me like free shares for warrants. Which means huge dilution in 30 days

So in 30 days they get free shares if the price is under $2.80? Is this true? I can't believe it is.

If true, this should require a shareholder vote or something. No way any owners would approve this.

What a scam offering.

They have 30mm in bank and they pull these shenanigans, this company is a travesty for all shareholders and they do only care about their paychecks..

Unbelievable! Just speechless. This should be a crime,

At least a couple here are happy,...

Pull the filing and announce your looking for strategic alternatives. This has gotten so far out of hand. Still no offering price and this is heading to 50 cents a couple months after the r/s. If this company was reputable at all they’d not force this offering at these horrific prices for next to nothing in the scheme of things.

Thanks, ubmmg. I think this stuff should be criminal, but alas it isn't or is impossible to prove. Best of luck to all of us REAL shareholders.

I wrote IR. It's futile to expect anything to be done though.

You're probably right. That would be $.05 pre-split pricing.

I think there should be legal ground to stand on in opposing this raise. This level of incompetence and destruction of shareholders is beyond the pale. This is more than doubling the share count for next to nothing, with warrants to boot, while they still have cash on hand to survive. There are just no words for how poorly this was done. AND they don't even have to do it today.

This shouldn't even be legal.

Hahaha. That's pretty funny.

Ken wants his 500K salary and perks for another year and that bonus for doing nothing.

just now the pps hit that $1.00 mark. Going Deep South.

I can't think of any reason for them still trying to push this through other than they see nothing coming and all for a few months spending cash.

They need to find a different direction or sell. Ken should be let go and pay back his bonus money etc. These guys aren't worth minimum wage.

The fact they're still trying to push this raise through despite 3 bungled efforts while also having nearly 30mm cash on hand says everything. They've got nothing and don't expect anything for awhile, if ever.

All this for what amounts to barely a pittance. Every REAL LTSH should 100% be against this today. They should cancel this raise if they had any decency at all.

So this is how filings/discussions work for companies like this:
Discuss. File an s-1 to let the world know. Meh.
Discuss. File s-1 #2 to let more of the world know. Mehhhh.
Discuss. File s-1 #3. Warmer.

Pre funded warrants are there because an investor could potentially have 50% ownership of this company for as little as 8-9 millions dollars. Unreal this raise. They have over 2x more cash on hand than what the EV of this company is at. Now add warrants on top of it all.

Buy it, sell it, take the cash on hand. EASY.

Lol. Back to r/s territory.

Manipulation. That's it. It's been mostly wrong for the last few years but maybe this time. Pathetic what this has become.

I will not be buying again.

My last post clearly shows the difference

Huh!? They increased the share count and maintained the same raise. The stock has dropped 50% since they filed early July. What logic?

You also said there was no discount between the 2 prior s-1's. Motivation?

looks like they increased the number of shares in the offering, which certainly does not suggest that they can’t sell them

You can’t be serious with this logic? They’re giving them away for nothing, why do you think they’re increasing!? The price has dropped 50% since their first s-1 that was filed.

Dude's a joke. I'm not even that shocked. He needs the oust now... better yet, sell this thing off and let someone else run it.

I wouldn't touch this stock either. It looks like the hedgies/investors aren't either. I'm wondering what else Ken is going to give up to raise some insignificant funding to support their wages/bonuses while finishing off current investors.

I wish they'd do a reverse merger (or sell) instead, but then that would be the end of their gravy train.

If you're not buying in and averaging down again then you're basically toast anyways. We're being diluted to oblivion for the 4th time in 2 years with another potential r/s to boot. This raise though will be the biggest of all the wipe outs for shareholders. This company hasn't cared one iota for their shareholders and never will. Outsized pay packages with ZERO deliverables is all this biotech stock has done. 20 years with nothing but a rich management and BOD. Amazing stuff really.

I agree adxs seems vastly undervalued given the space, but just like that NTGN hits an all time low today. I wonder if we're missing something. NTGN has cash and their founder even won the Nobel prize in medicine. Advaxis is 20 years going without a thing to its name. Maybe Ntgn is the play in this space, if there's a play at all.

Would you? Because you'd have basically zero ownership after this.

Interesting.

So you see this filling and closing even though they're trying to raise $17 million with a $10 million market cap. I've never seen anything quite like this, but then again I've never owned shares of a company quite like this either.

I've been hoping they'd find a partner and or sell off or do a reverse merger instead of literally destroying all existing shareholders. This is a total goner for me.

Thanks for the reply.

Also blacklist any and every consultant that has ever been involved with this company and add to that any underwriters they've used for these raises.

Agree.

This is the most inept process i've ever seen. They have cash to last until next year and they've bungled everything they possible could including the PR. What are they doing!?

The management and processes of this company are as terrible as it gets. Sell the company and dump the entire board and crew that has done this. Enough already.