Ayala Pharmaceuticals Inc (ADXS)

[fbg0316]

Boy was I wrong thinking a buyout was in motion. Very disappointing to see this development. We can either 1) sell or 2) wait it out. The company has already lost 80% of its value. The risk of waiting it out is that we loose the rest if they company goes bankrupt. IMO the pressing question is whether the value destruction is due to lack of interest in the science/platform or poor business management. We have thought it was mostly poor management, but the compnay is trading at cash value pegging the value of the science at virtually zero.