Ayala Pharmaceuticals Inc (ADXS)

[mm2k]

As I said before, I think there's a reasonable chance that DOC wanted to do a new offering last summer, and that's why he was fired. The BOD thought TL could make a deal and avoid the dilution, that did not happen either. Clearly TL and Ken have come to much different conclusions about the value of the various franchises. It certainly does not take 9 months to figure out the value(s) and make headcount changes, TL didn't do it during his 9 months, Ken did do it one month - that's the most logical explanation. At this point I'm more convinced that TL left absolutely nothing for Ken, Ken is working on his own plan.

FWIW, I think the plan to replace TL did not come about until late last year at the earliest. The first quarterly report under TL leadership mentioned that he was the ICEO for the foreseeable future, I think the plan changed after that.