Ayala Pharmaceuticals Inc (ADXS)

[Julius_Kelp]

...will be increased by the lesser of: (i) 5% of the total number of shares of Common Stock outstanding on December 31 of the preceding calendar year, (ii) 2,500,000, or (iii) a lesser number determined by the Board of Directors."

cab033, I read this as the lesser of the 3 options. Still, a good chunk, though not sure it amounts to 2.5MM shares x 10 years.

Anybody else want to chime in?