Ayala Pharmaceuticals Inc (ADXS)

[Donjayouworry]

Yeah, these proposals always pass because the Broker Non-Votes always push the resolutions over.

Going from memory...A primary reason DOC's Very First Advaxis * Proxy passed in '13 was on the last revision of the Proxy (there were maybe five? six? revisions...) there was a change to how the votes for the R/S would be counted FROM "Only votes approving the R/S cast by shareholders themselves TO Shareholder votes Plus Broker Non-Votes (allowing Brokers to vote the measure for any shareholders that do not vote themselves, which is always most.) The Brokers always vote for the BOD suggestions. First x number of versions were shareholders only. Final revision allowed BNV to count towards approval of R/S. It was done without calling any attention to the change...in the fine print of the proxy.


* DOC's First Advaxis Proxy was the one that authorized the R/S and also provided the authorized shares for the initial capital raise...but removed a Management Comp proposal because on Dan's personal shareholder call arounds he knew he didn't have the votes AND also Cut Dramatically the Original Authorized Shares Request (shareholders voting today on the 30MM shares may not know DOC tried to originally get (I think it was) 150MM shares authorized on his first proxy but got squashed down on his phone calls to shareholders.