Investor in AIkido Pharma urges board to sell assets, return...

$AIkido Pharma(AIKI.US)$ Investor in AIkido Pharma urges board to sell assets, return capital

Shalom Auerbach, a stockholder of AIkido Pharma owning approximately 3.8% of its common stock, issued the following letter to stockholders of AIkido Pharma Inc.: "Dear Fellow Stockholders: I am a significant stockholder of AIkido Pharma Inc., beneficially owning approximately 3.8% of the Company's outstanding common stock. Earlier this month on June 7, 2022, I sent a public letter to the Company's board of directors (the "Board") laying out my concerns about the Company's abysmal stock performance, poor corporate governance and lack of accountability to stockholders. I also asked that the Board and management either redirect the Company towards setting out a clear business plan to create stockholder value while firmly establishing accountability to investors, or to return capital to stockholders. Before and after sending my prior letter, I attempted to privately engage with the Board and management on the need for significant change at the Company. Unfortunately, the Company's current directors and management do not appear to be interested in true engagement on stockholders' concerns... I believe that the Board and management have shown a glaring disregard for the best interests of stockholders, and have not given any genuine indication that they intend to change course. I fully expect that, so long as the current directors and management remain in place, management will continue to spend stockholder money on risky and illiquid investments, far outside the Company's purported core biotechnology business,4 and the Board and management will continue to pay themselves handsomely in cash at the expense of stockholders. The exclusively cash-based compensation of the Company's executives and directors for 2021, and directors' minimal stock ownership of less than 0.25% of the shares outstanding, show a clear misalignment with the best interest of stockholders."

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