Ayala Pharmaceuticals Inc (ADXS)

[Meishairwin]

Iggy, he probably gets that number from the 14A filing. That value is calculated using Black-Scholes modeling, not actual current value...which is, as you say, $0.

So, just like the acronym for the model, that $12M is BS for pre-revenue businesses like ADXS. ADXS has to use it, though -- it's what the SEC wants despite whether it means much in circumstances like ADXS's.

I wish people would actually read and understand the SEC filings that describe Dan's pay/ incentives, etc. Some might not agree with my view that he's reasonably paid (although I can hardly see on what basis), but at least we'd be talking reality and not people's subjective reactions to data sound-bites.

Dan is paid well: salary and bonus, but his pay is not out of line by any means with similar CEOs. Hey, is Clayton Kershaw worth $32M? Is Drew Brees worth $24M? Is Taylor Swift worth $170M...OK, I'll retract that last example.

And to say that Dan's interest is not aligned with shareholders when he has 1.2M options with a strike of ~$12 is just, well, loony.

Maybe I've got to keep referring to these facts to counter the constant drumbeat of the last year or so claiming inaccurately that DOC was somehow taking shareholders to the cleaners. But, I think I'm done with this. People will believe what they want to believe sometimes irrespective of facts and/ or thoughtful analysis.

Me, I prefer facts and thoughtful analysis. Bring it if you've got it.