Anavex Life Sciences Corp (AVXL)

[Gator328]

My greatest fear with the authorized shares and blank check preferred was that any money raised from their issuance would eventually funnel back into management's and the Board's bank accounts.

Given the recent slate of good news, however, I am starting to agree that it's more likely these actions were taken to prevent a hostile takeover.

I'd love to see the total number of authorized shares never reach more than 100mm. Raising $50 million against 2.4 million shares may give Anavex enough of cash runway to start generating revenue before full dilution becomes an issue.