Ayala Pharmaceuticals Inc (ADXS)

[Bourbon_on_my_cornflakes]

Truthful version of mgt's letter:

Over nearly two decades we have optimized our Lm Technology platform
Like all technologies, the process to demonstrate clinical proof-of-concept takes time

Despite two decades of fleecing shareholders of their cash, we are still a Company whose technologies are p1 (NEO) and preclinical (HOT) respectively.

Clearly, there are other factors that may have affected our share price, such as our transition from a company with a late-stage asset to a clinical development company running Phase 1 and Phase 2 clinical trials.

People finally saw through the scam. Our Gen 1 products were all duds, and the tests were just wastes of money. So we admitted defeat and our now trying to sell P1 hopes of NEO and preclinical HOT as the future.

To achieve this, we are prudently managing our expenses to the level which, in our judgment, is appropriate for our programs.

Managing our expenses doesn't mean lowering my pay packet from $500K to $200K--that wouldn't be prudent.

Relatedly, we continue to explore different avenues through which to finance our programs and are aggressively pursuing business development efforts that we anticipate will expand our network of partners

WE're desperate to keep this scam running, so we will crawl into bed with any hedge fund that will finance us. We can offer free warrants and other incentives so you will not lose, only our existing shareholders will lose.

Tomorrow August 23rd cashless exchange of 17,100,000 Warrants for shares.

Yes, that should get us below $0.40 as the warrants were priced at $0.30.