Thanks TX,
Something I am trying to get sorted in my mind:
I have been reading the posts for the last couple of days. The main thoughts on the board seem to be:
1) Dan claims to of had no idea about his release.
2) ADXS has brought in the Channel Group to sell the company and this has now been in the works for several months.
These are conflicting concepts. I don't care what relationships were like between Dan and the rest of the board. No company commits to bringing in a person into a key position in the attempt to have this new person represent them in a sale and the current CEO knows nothing about it.
If this was what was happening, then Dan has lied in saying he knew nothing about this.
In addition, a CEO in Dan's position would have an exit agreement. Part of this agreement would forbid him from making ANY COMMENT about what happened. Therefore, I would think if Dan did say something even as benign as "I didn't see it coming." This would violate his exit agreement.
Therefore, I cannot believe #1.
With respect to #2, if the new CEO is still listed as a partner with the Channel Group, then it is plausible that the board could be trying to sell ADXS.
However, it is unusual to replace your CEO at the time you are trying to sell. This could hurt you during negotiations and cost you money on the final price simply because it makes you look weaker as a company typically.
Just my thoughts....
GLTA
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