On January 17, 2020, Alpha Holdings, Inc. announced that it has issued its response to OncoSec Medical Incorporated’s rejection of Alpha’s superior financing proposal, which represents $39.3 million of value compared with the $30 million China Grand Takeover Proposal, including the opportunity for stockholders to receive a cash premium for 35% of the Company’s shares through a tender offer of $2.50 per share. Alpha Holdings outraged that the Company’s Board would not even discuss Alpha’s superior proposal, and their knee-jerk rejection of $9.3 million in additional value confirms that the Company needs new leadership. Alpha stated that it has already invested approximately $17 million in the Company and is prepared to invest an additional $39.3 million in the Company because it believes in the Company and its future prospects. Alpha stated that its’ offer includes a $9.3 million tender offer, which provides immediate cash to stockholders at a premium to the current market price and the China Grand Takeover provides no cash payment to stockholders and no certainty that China Grand will invest another dollar in the Company and no certainty that China Grand will ever make a cash offer to the Company’s stockholders. In addition, Alpha Holdings stated that it demands new record date to give stockholders a fair chance to consider all proposals and urged the shareholders to vote on its proxy card against China Grand takeover.