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I know how the bacon is made, and sometimes those saying they made the bacon are taking taking credit from the dudes actually in the kitchen.
Strangely enough, I’ve actually seen her eat bacon.
Yah know, I’m a regular Joe that likes to chase little shiny objects just like the next guy; the shinier the better in my world. Because heck, who wants to admit to themselves they own a stock that trades for 57 cents in a biotech that hasn’t even submitted an application for approval three years after DL….because they’re STILL proof reading!!!
Dammit, I need shiny objects — Crash, please throw me some more!!!
Couple points to consider. The first is the increasing outstanding share count, especially with a modestly traded OTC stock, is a killer to the share price and its capacity to sustain any appreciation.
If posters want to blame manipulation, then the biggest manipulators are Linda and the company itself that provided for all of those warrants and options along with extensions of their expiration dates. I truly hope the newly issued shares are not a function of additional inducements.
The already authorized shares, that’s neither here nor there. I would like to say the same thing about my bank account. I draw against what’s already deposited as I keep spending. But until find a job, I’ll keep spending until I have no money left; and then I’ll have to borrow against the future. But once I begin serving Big Macs and receive a paycheck for my talents, then my deposit account will remain at least even and my future (and bank account) is secure.
That’s the same thing with the authorized shares. Until the company submits its applications and receive approvals, which would attract capital that’s not dilutive, then the dilution will increase both now and into the future. All of the remaining authorized shares will need to be issued to cover expenses, while another share increase will be requested at the ASM.
We can get into opportunity cost, time value of money, and efficient capital raising; but those are more nuanced concepts for perhaps a later discussion.
It boils down to Linda and Les are breaking the backs of shareholders, and there’s simply no greater evidence than the static share price along with the rising share count.
Since you asked me how I feel — and thank you for asking! — how Linda and Les manage this enterprise makes me sick to my stomach. If I haven’t made that point abundantly clear already.
PM
This is looking much like the Social Media Hall of Mirrors Strategy. What we learned from the NEJM journal article deception is that Linda’s Donut Eaters will float some false narrative to keep everyone off the scent of what’s actually in the donut box. The purpose was to keep outsiders from interfering with the JAMA process by pointing everyone in the wrong direction.
Over the past few days we’re suddenly reading an awful lot of posts about Regeneron oven-baked jelly donuts. But perhaps they’re deploying the same deception to distract from the actual BP that will sign a licensing agreement and/or create a distraction from the delays in submitting the UK application and the protracted timeline for approval; not to mention distracting from the unprofessional behavior of management?
A REGN licensing partnership would be nice (and has its own logic); but frankly, any BP deal(s) at this stage would be welcome news. Sooner rather than later.
But remember Mr. Donut, everyone is lying — Especially the Donut Eaters.
Again, it gets back to the complete lack of professionalism by management and the contempt they show to their own shareholders.
But glad to see the spell that Bigger is under has begun to wear off; but maybe too late. As I’ve said, the only hope to remediate Linda and Les’s behavior is for the warrant holders (preferably working together) to heavily engage both of them to improve their transparency. To date, the warrant holders have been nothing more than enablers that have rewarded bad behavior.
After Midnight Post - Gonna put it in the want ads
Of course as Linda and Les continue to dilute shareholders at a rapid pace with no updates or guidance, they continue to remind us of their unprofessionalism.
The company is operating on fumes, so there’s an urgency to rely on (and induce?) the exercise of warrants and options. But of course there are those who rather blame nefarious forces and short sellers in their land of make believe.
You can actually hear them singing the chorus to Puff the Magic Dragon in the background when you call their office.
After Midnight Post – Darkness on the Edge of Town
Almost tragic that we will be more than three years from DL for when the first approval is expected. That is a managerial failure my friend. What, FDA and EMA approvals in 2025, four years past DL? Nobody has “plenty” of time.
Didn’t realize I was a contestant on the highly rated game show, “Name Your Gas Light.” Okay, I’ll play. The answer to your second question is the company in 2019 had to literally sign a Settlement Agreement with the SEC for 9 years of non-disclosure violations —- That’s right, NINE YEARS! The answer to the first question is the JAMA article was held for several months after the article was already accepted for publication.
Events not occurring are also significant, but will address that later.
I hope the definition of “cusp” as in “Being on the cusp” is not six months from now! It will be raining dilution by then, which will dramatically decrease the value of everyone’s shares. Not to mention the human cost to patients and their families of still not having access to this treatment. Linda’s Social Media Reps throw all kinds of timelines around, so it’s nearly impossible to have confidence that management can execute its business plan anytime “soon.”
And to Viking’s point, since I have a few minutes to edit, patients do suffer because of the mismanagement of this company and the money they spend on themselves rather than advancing cancer treatments. Maybe later this evening I’ll go into the reason why I raised this issue all of a sudden. But I only have one post for today.
Hyperopia, this is almost the very definition of gas lighting. Telling shareholders they’re seeing something they’re in fact not seeing. Referring to random press releases and disclosures over the years is not evidence of a management team that’s fully engaged nor keeping shareholders properly informed in a timely manner.
Let this sink in — over three years there are only two occasions that management has engaged shareholders, referring to the the last two ASMs that were mostly prepared and shallows remarks that said very little. Nearly all public companies worth their salt would have held 12 conference calls with investors over the same period.
If I came home 6:00am in the morning smelling like liquor and cheap perfume, and my wife asked me where I was? And I answered: “Well I just came off the bus coming from the next town over and ate some jelly donuts along the way,” that all might be vey true. But hardly the full and important part of the story. Likely to end with my clubbing and eternity living on a sidewalk.
I will prepare a Midnight Post this evening.
Terrible.
The company’s response or lack thereof to the current status of the business and the approval process is simply unprofessional. There’s just no other way to describe it. Just terrible.
I have one post per day. So my one question today until Midnight is actually a very basic one: Is management accountable to shareholders?
Yes or No?
When an argument can be made that Linda Powers and Les Goldman have literally fallen off the face of the Earth; there are legitimate debates about the company’s liquidity and insolvency; and the share count continues to increase at a rapid pace, I think it’s safe say this is not a sustainable situation.
Management sucks for lack of a better word. Can’t wait to see the 10Q for June 30th just to read what further damage they’ve visited upon the company’s financial condition.This stock is headed in the direction of below 50 cents per share this week, and patients are still not receiving the benefit of this treatment. Undeniable.
And remember, everyone is lying.
LP is the Mother of All Dilution.
An approximate 19 million increase in the share count over just three months. Look no further to why the share price keeps going down. This trillion dollar company looks like a million dollar company. Had me fooled for a while.
Despite this being a “trillion dollar” company, there’s surprisingly no tenders offers that would suggest a hostile takeover. There are no Barbarians at the Gate.
If Apple or some other trillion dollar company had a market cap of only $550 million, poison pills or no poison pills, there would a strong push to entice existing shareholders with an attractive tender offer for a 60 cent per share company, and then force management to sell the whole enchilada.
But that has not happened. A buyout is off the table for perhaps a couple of years. What’s likely to happen for now — as others have suggested— is a more modest license/ or partnership deal that’s already been agreed and a function of MHRA approval to satisfy effectiveness. And once there’s less blue sky and more tangible performance, and a nice appreciation in the stock price, then just maybe that buyout is back on the table.
My hope is that the deal has elements of each a buyout, partnership and licensing( but that’s my blue sky thinking.
We’re past conspiracy theories. Those days are over.
Every naked short selling conspiracy theorists on this message board should read the Forbes article.
I’ve been saying the same thing for years. There’s no systemic naked short selling in the way that’s described by the conspiracy theorists. And that naked short selling is just a convenient excuse to deflect from the actual causes for why a company and its stock price are performing poorly.
This is why the lawsuit against Citadel has nothing to do with naked short selling. There’s simply no evidence to package that into any kind of litigation.
Maybe I’ll make this article my After Midnight theme this eventing? Forbes has ripped the lid off of this nonsense!
We could all suspend reality to pretend that NWBO’s market cap isn’t $650 million as of today or believe that somehow Big Pharma is involved in a giant conspiracy to undermine NWBO.
But if highly regarded posters on this very message board are suggesting the company is moving toward a licensing deal with BP, then it’s inevitable this will be a much smaller transaction in comparison to a typical partnership or buyout for a biotech at this late stage. Below is sample of what some of the largest license deals look like in terms of value.
For the record, I believe licensing may be just one element of the structure for a larger overall transaction. But if that’s not the case, this is a sample along the lines of what to expect in terms of valuation.
Midnight Writer Post — One More Silver Dollar
If anyone thinks that Linda Powers will be able to pull off a tissue-agnostic approval without the influence and alignment of BP players, then I’ve got a bridge in Brooklyn I’d like to sell them.
There is no doubt that NWBO will need to closely align with Merck and other BP players in order to quickly and efficiently advance DCVax. I severely question that a simple license agreement(s) will offer anywhere near the same strategic alignment and benefit that an actual equity partner(s) will bring to the table.
Just think of it this way. At least hypothetically, the same time NWBO has simple license agreement(s) with one or multiple BP to sell DCVax, they’re would also be pursuing a designation that will compete with the licensees’ other cancer treatments. That just looks like a recipe for trouble making at all levels.
I agree with BB that a syndication or JV makes the most sense under the circumstances. If licensing is the best option they can pursue, then that’s not by choice, regardless of what her posse is whipping up.
That’s a well constructed theory to explain the round shiny objects that have been thrown anround over the past couple of weeks. I’ll buy-in should this delay extend another few weeks without any news.
But my theory for now is the shiny objects are meant to soften the reaction to the announcement of a BP deal that will be for a value less than expected. We’ve heard speculation in connection with a license centered arrangement that includes a large multiple $ billion upfront payment.
If a license deal along with a listing brings the share price to let’s say $5 to $6, that would be a very nice bump from where everything stands right now at 60 cents — I’d be pretty excited for anything over $2 to $3 per share; so not looking a gift horse in the mouth. However, a valuation in the lower ranges is also well below expectation for a share price north of $10 to $15, which is where I thought we’d be late last year.
I tend to believe the communication strategy is to couple the license arrangement with Xmas ornaments to offset some of the possible disappointment, and to maintain shareholder interest to discourage profit taking. If you’re a company listing, then you don’t want shareholders selling at the same time; in effect, selling into a rally.
I do believe we’re getting close, just because they would otherwise have completed another round of financing by now. Doesn’t seem to make sense to wait and let the company’s cash balance run to nearly zero if the approval and/or BP deal is not planned until much later in 2023. But we’ll know shortly, one way or the other.
And just as a reminder — everyone is lying. And if everybody doesn’t believe me by now, they should.
Luca Brasi sleeps with the fishes.
Making this a billion-dollar company would be a nice start.
Maybe by the end of this year?
The true genius behind Advent is that it serves as an innovative business model for other CEOs at public company’s to follow and replicate. I’m sure this model will eventually be taught at all business schools.
Every CEO now has the full map for how to have their shareholders at Public Company A fund and subsidize the startup of another Private Company B owned by the same CEO and her investors. All without giving the shareholders of Company A any ownership or rights to the profits or capital gains at Company B, let alone any meaningful control over the contracts between the two companies.
Zoologists are also curios as to why when this business model is presented on a chalkboard, their trained seals begin to clap?
Apparently the Director of Investor Relations is fine with 30 cents a share when this drags into the Fall with no updates on the filing, while there’s continued cash burn and shareholder dilution.
This is like watching a dark comedy.
My guess is Les is doing an infomercial for the Men’s Hair Club.
I really don’t have any expectation for what he might share, one way or other. This is obviously not the type of vehicle that a company would typically use to communicate and discuss any kind of groundbreaking or material public news.
My theory is that steam is now shooting out of everyone’s ears, and Les will use the show to try to bring down the temperature below the shareholder boiling point. (And I’m sure he’ll also have an operator on standby for those that might want to take advantage of the limited time offer for a discounted membership in the Hair Club.)
Let’s be frank, management just sucks really badly. And everyone is lying, no doubt in my mind. Maybe even more so than usual.
I’ve got Rick James on the box right now singing it’s “just such a freaky scene.” He couldn’t be more right.
Their estate planning has been going on for years. Has nearly nothing to do with timing of milestones.
The clock is ticking. Where’s the cash coming from prior to the end of the tax year at midnight, December 31, 2023? Dilution remains a serious concern at 60 cents per share.
Maybe management wants to offer some meaningful guidance about what their plans might be at this stage, rather leaving everyone in the dark?
Let’s be honest, management just plain sucks. But let’s also hope they have enough wherewithal to get something closed “soon” for the benefit of both patients and shareholders.
Quick in the raw comment from the Park Bench.
Per a BP transaction, my original thinking was the company would enter into a partnership or buyout. That’s simply the convention at this stage for a biotech to realize value. A well-managed and successful biotech will typically have this in their back pocket. But obviously not likely given my own skepticism about management combined with Viking’s comments about a licensing agreement with an upfront payment as the likely outcome.
The problem with pure play licensing arrangements is it may provide value for other indications, but are typically of less value to the licensees (even with exclusivity) for approved treatments since the BP licensees don’t own the asset and have limited control and oversight of the company that owns the all the patents. However, this leaves open the question about the disposition for DCVax L as a standalone treatment: will DCVax L be licensed or will it be solely marketed and distributed by NWBO? In other words, NWBO retains ownership of L and just licenses out combo treatments?
Let’s be clear, the purpose of licensing makes sense for combo trials, and allows the licensee to fund their own trials and provides a source of upfront and potential future cash flow to the licensor. But a license for an existing and approved treatment makes little sense in terms of maximizing shareholder value, since the risk to the licensee, who will offer weaker terms, is loss of control and oversight, while the risk to NWBO are the typical legal challenges that could be raised if a Big Pharma decides they want to exit the deal and is looking for an excuse. Also, upfront payments will be less with license deals since much of the value will come from later royalty streams.
Licensing deals across the board — rather than just an element to a more comprehensive structure — would be a huge disappointment as it would represent the least attractive scenario in terms of valuation and outlook for investors. Licensing agreements are typically entered into by development stage biotechs, not biotechs that have completed a successful clinical trial after 20 years.
Lease arrangements hold less value and are higher risk due to the shorter terms and legal pitfalls, and certainly not preferred by those nearing RA approvals. Sure, we’d all be happy with some cash and the opportunity to finally up list this stock. But it’s definitely in the bridesmaid category. And although an achievement by the scientists, it could be viewed as a significant and unredeemable managerial failure and indication of significant reluctance by Big Pharma that NWBO management can’t be trusted with a more comprehensive arrangement.
A licensing deal could have been easily entered into earlier with milestone payments built into the structure to accommodate for RA approvals – this would have offset much of the dilution over the past year and provide a path to a quicker listing with a fully funded balance sheet – wouldn’t it be nice to be listed right now? Moreover, a few billion in upfront payments (equivalent to $2 or $3 per share) is far less than the $20 or $30 plus billion deal that was expected from the successful completion of the trial and subsequent approval. Hopefully, a listing would capture longer term value and raise the stock price accordingly.
One of the early theories is that a licensing arrangement could be an element of a partnership. A newco is formed to create a partnership for L that would own and license out L for combo trials. NWBO would also form a successor company that would license out indications for Direct. But that’s a horse of a different color, whereby a partnership for let’s say the distribution of L includes licensing agreements for combo trials for indications of Direct. As time drags on, I find it difficult to imagine that Linda and Les are capable of putting together this kind of transaction. Would be nice, and a home run with a couple of men on base, so I’ll keep this as my pipe dream.
Have to see what the actual terms and who’s involved. But just based on valuation, licensing is the least attractive. Having to wait much longer is adding salt to the wound.
The Revolution will not be televised — Gil Scott Heron.
The notion there’s some secret RA submission for DV Vax to be approved as an agnostic treatment is complete fantasy that only rivals the naked short conspiracy theory fantasies…That are STILL unproven, as conspiracy theories usually are not!!!
First things first — we don’t even know if the MAA to treat just GBM in the UK had been submitted? And they’re running on empty as in that Seinfeld episode. So there ain’t a lot more cannoli to snack with while keeping the SS Dilution afloat.
A tissue agnostic application would likely require some additional trials and statistical analysis. Although I believe the presentation at ASCO and MOA analysis was a deliberate opening of the door for that possibility; perhaps at the behest of Merck or other potential partners — but that’s in the future, not to be confused with the “It’s a Plane” Fantasy Island stuff; magic wand waived at a convention; flying monkeys in the Land of Oz.
(Note to self: Onco Doc is just kicking everyone’s behind. Making Linda’s Evil Georgetown Social Media Company look like paupers. The flying monkeys have nowhere to land.)
Back to earth on my park bench. There’s not enough cash on the balance sheet as of 1Q23 and Deputy Fife has not been heard from again (yet). To me that increases the likelihood of a listing and partnership in the near term,
I do recall from the Big Biz days that the company wants everything to be announced as close together as possible. That mindset is likely still in play. So possible this is further along than DI in his role of Thelma as Mayberry’s Call Center Operator is willing to share.
My wife is just kicking my behind when I repeat the agnostic tissue fantasies. So my happy park bench offers me some shelter from the rain.
And Remember — everyone is lying; even about The Revolution, which will not be televised.
Not a bad couple of days of trading. Stock price is up on higher than average volume, which is typically a very good sign. But an OTC stock is bound to be volatile, so end of day profit taking is to be expected. Has zero to do with manipulation — it’s just life in the little leagues. And the stock price still remains very low compared to even five or six months ago. So certainly signs of life, but still a ways to go.
Interesting there’s been no announcement of a capital raise. The gas gauge has to be nearing E. So the clock is ticking on a capital raise or BP transaction. Barney Fife at the gas pump? Then I’m calling Sheriff Andy Taylor and Gomer.
Picking daisies: MHRA loves me, MHRA loves me not. Not sure who’s calling it right in the absence of any real news from a Linda — all opinions and predictions are legit at this point. Has the MAA been secretly submitted and accepted? If not, that would mean Mr T calling for…PAIN!
Everyone is lying — so pick a daisy.
The After Midnight Special — Running on Empty
Running on (running on empty)
Running on (running blind)
Running on (running into the sun)
But I'm running behind
Not saying they don’t have the capacity to capitalize the balance sheet with new cash. But they are running on empty. And as Kramer clearly observes, the fuel gauge reads below E in the red zone. So besides stretching the trade for a couple of more weeks, where will the new cash come from?
Could be from a Fife Penny Stock hand-over-your-first-born financing package; cash could come from issuing additional Series C shares and warrants to angel investors; or funding could come in connection with BP transaction and listing on a major exchange. This will make all the difference for whether Das Booth surfaces from Sea of ASCO or remains deep under water.
But for now, let Jackson Browne be your guide.
Well, the company is running on empty with virtually no cash in the tank. Linda and Les are perfectly captured in this Seinfeld episode driving the business as far as possible on “E” before heading into a gas station, or breaking the needle off!!!
NWBO will need to fill the tank soon.
I suspect the company may be attempting to deceive shareholders and others about the timing of approvals. It might be wishful thinking that the MHRA approval could be announced sooner than 4Q23. But wouldn’t be surprised if that faux expectation is being disseminated just to lower expectations and to keep everyone off the sent as a product of their profound paranoia. The company did that with the JAMA article by attempting to divert attention away from the publisher by creating the expectation that the article would be published in NEJM.
But if there’s no approval until year end, and nothing occurs with a partnership or listing in the meantime, which seems all tied together as a package, then we’re in for a whole lot of hurt. Maybe to the point of losing some of the investor base that has at least kept the stock price afloat while the number of outstanding shares keep growing, thereby diluting the stock and the value of each share.
Crash has already suggested this is not the stock for weak hands or those that find this company difficult to understand, or lack patience. So I’m not sure where the replacement retail investors will come from if the longer term shareholders begin to unwind some or all of their investment in NWBO.
But I’m a dreamer, so maybe everything will unfold sooner than what’s been currently floated in the blogosphere.
Everyone is lying.
After Midnight Post - The Slow Hand Edition
As we’ve learned from yesterday’s symposium, there are weak hands and strong hands; but Linda is playing the slowest hand of them all.
I may be one of the few who had expressed their concerns over Linda’s performance and the information she offered at the ASM. And frankly, that performance was not a good harbinger. But apparently those in attendance who had just escaped from Sea World failed to recognize the warning signs that included a lack of clarity and direction w/ regard to the company’s progress and achieving its goals; layered with excuses about “flows” and “unscanned pages” and such things. Progress after 32 month since TLD is a remarkably slow hand by even Clapton standards.
So what has happened over the past five months since the ASM.
1) Missing in Action — SM was quickly discovered to be missing from the planet and no longer employed by NWBO. Gone prior to completing his contract, with no known explanation.
2) Lost in Paradise — Eden was not included in the license for Sawston. Someone seems to have eaten the forbidden lemon from the tree.
3) Mayberry R.F.D. — Fife provided another $10 million in penny stock financing at 30% total return to him (17% annualize interest). Much like the show, we may be stuck in perpetual reruns of dilutive financing.
4) Greta Garbo — I prefer to be left alone with another Series C Capital Raise. Additional funding via the sale of preferred to insiders and financial investors, thereby adding to dilution and the diminution (is this a real word?) of shareholder value.
5) The Jimmy Hendrix Experience (Not a slow hand) — The authorized share count Kissed the Sky at 1.7 billion, an increase of 500 million in authorized shares, while the outstanding share count has continued to rise like the Star Spangled Banner.
6) X-Files — The truth is out there. Unexplained delays with the MAA submission and acceptance. As if the MHRA and its regulators were abducted by aliens. Was SM abducted, too? Makes me want to take up chain smoking…
7) X-Files 2 — Shareholders are suffering from “missing time,” unable to remember anything that actually happened over the past year. Shareholders also report waking up in strange public spaces with their cloth on backwards and their brokerage account showing a share price of 60 cents.
8) Mummy’s the Word — No communication or guidance from the company since December. Dead ancient Egyptians have spoken more words than this mutant crew. It’s almost as if NWBO has been cursed!
9) Kissing Cousins — We find out that Oncovir and Advent are related through a common family member. More like sister and brother than cousins. And there’s talk of pulling a Jerry Lee Lewis. Oh my.
10) The Clapper -– The share price has fallen by 30% since year end…and it can’t get up!!! Maybe not by coincidence, the Clapper is also in high demand at the Bethesda Headquarters.
11) The Sharpie — Get ready to add your signature to another big capital raise.
12) King Tote — Ancient Egyptian Boy King found to be buried with a mysterious ASCO Tote Bag with writings etched in an ancient hieroglyphic language that resembles what (some believe) are trade marks.
And Remember — The truth is out there; but so are the lies.
Everyone is Lying.
PM
This is pretty bad, anyway you cut it.
To respond to a point that Mav referred to yesterday about delays and dilution, Shareholders are the proverbial frog being slowly boiled that never jumps out of the pot because it’s become normalized to the water temperature. In effect, the delays and incremental dilution have an accreted up over time, almost without notice, much like our frog; thereby severally eroding the value of each share of stock.
This erosion of shareholder value was less noticeable over the past couple of years as funding requirements were supported by the exercise of warrants that contributed approximately $32 million in cash. But even then pennystock debt financing was necessary— and much of that debt equal to $25 million was converted into shares at low conversion prices. This also had the effect of masking or at least making less apparent some of the dilution.
Well, the exercise of warrants and options is exhausted as a major source of cash. Now we’re back to large dilutive capital raises as the delays continue seem to pile up without end.
It’s not a pretty picture, to say the least!
(Crash: My wife desperately wants me to sell. But I’m a knucklehead who hates taking a loss. I can’t leave the table until I’m even.)
Well, as my wife noted after perusing the 10Q to check her math: when the company’s average cash burn is over $1 million per week, doesn’t that mean NWBO will have no cash in the bank by the end of this week? (Note: My wife no longer trusts me with the family finances, so I now have to answer a lot of questions, even if I want to order takeout.)
I said there’s at least a greater than 50% chance that she’s right. But they might be stretching the trade. So I estimate there’s a 75% likelihood the well runs dry within two weeks, and close to a 100% chance of total insolvency by the end of the month. There’s just so much stretching all these semi-retirees can do, and the Million Dollar CFO won’t want to continue to upset the CEO at Advent.
She asked what about revenue and cash flow from specials? And can’t the Million Dollar CFO do something to fix all of this!? I laughed, and then suggested it’s the fault of COVID. Plus I sleep well, if that means anything? And hey, there’s alway Project Orbis!
So the state of play is the company will need to raise additional capital. And if it’s the usual suspects, then shareholders can expect more highly expensive and highly dilutive penny stock financing — paging Mr. Fife, please come to the counter to pick up your hot mess sandwich.
When the Sea World clapping seals were enjoying themselves in December, I instead voiced my concerned about just this moment. That continued delays gaining approvals would force excessive dilution to fund non-productive purposes, and further waste everyone’s time and money. It’s literally the beginning of June 2023 next week, with still no RA approvals! For all the Kojaks, savour that tootsie pop for a few minutes.
It is what it is with these bottom feeders. But not having UK approval after nearly three years since DL is inexcusable. I hope that the suggestion of further delays is not true — I really do — but I suspect that it is.
Footnote: I asked my wife what CV7f means (inside MB joke), and neither of us have any clue.