Ayala Pharmaceuticals Inc (ADXS)

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Meish, as I recall you are a relatively new investor. To give you some sense of what long-term shareholders have been through, when O'Connor came on board fully diluted total shares outstanding was around 25 million, so a $40 share price equated to a $1 billion valuation. Fast forward to now (four years later) the fully diluted total shares outstanding is around 50 million, so a $20 share price now equates to a $1 billion valuation. I understand some dilution has been necessary, but whose to say kicking the can down the road another four years and there is another 25 million shares sold, then what do you know a $13 stock price is a $1 billion valuation. I know you are looking at things prospectively and the timing of your investment is certainly much better than mine, but one needs to look at the track record of the company's execution, inefficient use of funds and lack of shareholder value generated on capital already raised, which leads me to my belief that shareholders would likely be better off if the company is outright sold today instead of risking more dilution at a low stock price and more potential execution mis-steps toward commercialization.