Ayala Pharmaceuticals Inc (ADXS)

[ubmmg]

From the SEC filing on 3/14/19:

In connection with the exchanges, each of the Investors has agreed that, for fifteen (15) days following the exchange, they will limit their daily trading in our common stock to no more than 5% of the total volume of trading in the common stock as reported on the Nasdaq Global Market on such day. Additionally, we agreed that, for such fifteen (15) day period, we will not file a registration statement or otherwise sell or issue any shares of our common stock, other than in exchange for the Warrants or upon exercise of warrants or options that are outstanding on the date of the exchange.

Depending on whether March 14 counts or not as a start day of this moratorium, those 12M free shares are now ready to be dumped into the market. I would not be surprised to see any additional filings regarding those shares, as they are going to be gone by the end of this Q. What a flusterclack!