Ayala Pharmaceuticals Inc (ADXS)

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Yea, it would be interesting to understand why Adage (who owns just under 20% of ADXS) has not to date pushed for BOD representation. DO has made a lot of progress with the company over the last three years on one hand, but investors have not faired so well so maybe now's the time to tighten things up from a governance and alignment perspective to catch shareholder value up to the escalation of the company's fundamentals. Frankly, I was surprised that investors signed off on DO appointing Mayes to the BOD, given the inherent conflict of having two senior execs on the independent board that is supposed to be a check on management decisions (and I'm not even considering any in-law relationship that may or may not exist between the two). The fact DO would even think of putting his right hand man up for a board seat in itself is suspect. It reaks of self-dealing, especially considering some of his policies related to management comp (in 2014) were challenged by investors. Putting another one of his own on the board lessens that challenge and ultimately holds him less accountable, going back to my point that the overall issue of governance is important and could be a potential roadblock to the company seeing the type of valuation investors ultimately want to see.