Ayala Pharmaceuticals Inc (ADXS)

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Open your eyes. The stock dropped like a rock from +$5 to $2 going into the offering. Collectively, investors required $2 to give the company another $20 million. There has been huge "management" risk in this company and the $2 offering showed investors wanted to be compensated for that risk with a lowest ever entry point that massively diluted existing owners. Think about it. The last CEO was kicked out because his strategy wasn't working and an unsustainable cash burn and non-performance based liberal management comp was eating into shareholder value. Then the BOD stood flat footed with no succession plan, leaving in place an interim CEO for 10 months who was 70 years old and should have been in retirement. Naturally, to hand over more capital to this cash burning company known as ADXS who had no leadership or strategic plan in place in the "interim", these investors demanded and were able to get a huge sweetheart deal at our expense thanks for poor planning by The Rat.