Exactly Bourbon, if DO hadn't done the dilution a week after the Amgen deal, we would likely be closer to $20 now considering the stock had trended up to $16 in response to the solid Amgen deal...that is until the dilution threw cold water on the momentum of a positive development for shareholder value. Think about it, ADXS said in its annual report yesterday that the company estimates it has enough cash to fund operations to 2Q19. That's more than two years worth of cash. So, if DO hadn't done the $30 million offering after the Amgen deal (a deal which itself brought in $65 million), what then, the company would still have enough cash to fund operations to 1Q19 given a $15 million monthly burn rate. So was it a wise (or self-serving) decision to throw cold water on the shareholder value added from the Agmen deal cutting the company's market cap in half all for another two months worth of cash when the company already had two years worth? Let's call a spade a spade. The ONLY reason IMO that DO felt the need to do another dilution after the Agmen deal wasn't because the company needed the cash, but because the Amgen deal reset the stock from $8 to $16, which interfered with DO about to issue himself three years worth of executive options that would be set at a strike price equal to the current stock price, and he wanted to print his options at a low strike price. What better way to take down the stock from $16 to $8 ensuring a low strike price for himself than by another unnecessary dilution. That Ignatius is what I'm talking about when I refer to some of DO's decisions that clearly have been out of self-interest at the expense of shareholder value. It's hard to argue that's not what happen. It goes back to mis-alignment with shareholder interests and DO using positive developments of the company to benefit his own financial interests instead of shareholder value.
