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Time is money. An entire bull market passed by.
He may have known of Powers control but it appears he did not know of the Phase Five allegations at the time of his investment. With no investigation briefing he has a real case, imo.
And they couldn't find one person to give them a lousy $10 million without diluting shareholders by almost a third of their equity? How much did Powers really walk away with on her investments at Toucan? You must know with all that research??
"Linda" will continue on just fine but the loving shareholders not so much...
She may reopen Tuscan Capital in an effort to find funding. Lol.
"Eager NOT to deny"! What does that tell you?
"What Investment estimates the Woodford has lost around £16 million on this investment, a figure that Woodford Investment Management were eager not to deny."
'Neil Woodford’s ‘error of judgement’ US investment now largely written off'
"We will always do everything that we can to ensure positive long-term outcomes for our investors, but this case study suggests that it is not always enough. The governance issues at Northwest Biotherapeutics have continued to conspire to shred investor confidence in the business.'"
-Woodford
It's not that they raised $10M it's the percentage of shareholder equity they destroyed. What's next?
Hey Ex, looking back many of your excellent post are gone. That one about Woodford likely winning a proxy and other issues, i made a copy. Do you want me to post it on Yahoo?
Hey Ex, is this another attempt to throw us off? My latest understanding is Woodford is not engaged in a suit currently??
Simple to do; Have Woodford come out stating that he's met with the Black/the independent director investigation team and has found no evidence of wrong doing on Powers&Co.'s part.
That never happened and based on Woodford's latest statements it will not happen.
So Phase Five's allegations weren't specific enough? The lack of any hint of an investigation into those allegations aren't raising red flags? It's all about the science and nothing to do with shareholders demanding answers or seeking accountability.
Ah yes, back the "Wolfpack" again. So i guess billionaire Woodford and his pals weren't enough to throw off the dirty ham and jalapeno eating creatures? Or maybe Woodford is part of the pack in your story? Did anyone see him hanging out at Blimpies the other day?
LOL.
Let me guess, you've been told about that one too?
Share price and Shareholders have already been decimated so...
There you go again!
I see Woodford now owns more shares then Powers, Toucan,and Cognate put together, therefor i agree with Exwannabe, he'd win in a proxy battle.
Thank you, Ex. It's true, I've noticed that too...Poster here try to sell the Powers controlling interest story. You can tell by the lack of response to your post the story line has been broken.
I meant the largest minority holder, my mistake. Why is it just one slip up and you're instantly accused of being short? Cognate restructuring sure but Woodford appears to hold more than Powers now so my initial statement about her not possibly being able to make that statement to Chris, i still stand by.
And Woodford's also being diluted in percentage as Powers continues to give away shares.
Refer to Exwannabe's post from January:
Here are the holdings for LP/Toucon/Cognate for the last 3 years:
Year Linda Cognate Toucon Part. Toucon Cap Total
2014 1,572,200 19,466,756 804,145 1,893,690 23,736,791
2015 1,572,200 27,194.366 804,145 2,211,784 31,782,495
2016 1,572,200 13,684,294 804,145 2,211,784 18,272,423
Linda/Cognat/Toucon is down to about 12%, not even the largest shareholder.
More importantly, she has reduced here holding considerably.
With Woodford owning the majority stake, i don't believe she would or could ever say such a thing.
Thank you for that reply. You may be right. But you also should consider the possibility that therapies with few to no side effects, can also aid in dragging on unscrupulous schemes since the FDA will be less likely to intervene.
I never seem to see the word 'censored" in all this, why is that?
Really? You're going to change the direction of our discourse because of one simple word capitalized (which i did to make a previous point)? Just copy and past the paragraph into google. -It's all legitimate. Now, let me know if you want to reconsider your belief on why they got booted off Nasdaq?
You could say about the exact same thing with Bavituximab. No side effects turned out to be ineffective.
"On November 7, the Nasdaq staff notified the company that they have identified a few financing transactions completed between May 15, 2016 and October 13, 2016 that did not adhere to Nasdaq rules. Northwest then initiated remediation discussions, but the company’s remediation plans were rejected by the Nasdaq staff. The recent development to switch from Nasdaq to OTC is a fallout of that rejection.
OTC listing will also offer savings through reduced exchange costs, though it will come at the price of REDUCED transparency. "
Who knows really what Les allegedly tells individuals. Just the idea of speaking to only some on material issues is disturbing enough. It's probably more productive to discuss the rs as if it could happen; Shareholders should prepare. For example, would a proxy battle emerge with Woodford? Would they choose to not split the authorized? How would it change ownership percentages?...
Amazes me. And so did Ken Dart's Eastern Capital investment. They both appear to have allowed themselves to freely be mugged. To my mind, the big question is whether they were able to make back their investment somehow either by shorting or some darker deal.
If investors take seriously the history and governance issues, they shouldn't have touched either with a ten foot poll...At least not without a seat on the board.
That's not how you approach an investment like this. Those are pie in the sky figures unconnected to the reality of the history and governance of this leadership team.
Early shareholders do the heavy lifting then get rewarded by some big pharma swooping in somewhere in Phase ll. That's how it's supposed to work. You don't end up with a shattered share price while on the cusp of Plll greatness.
If they really have something sell the company. De-risk for shareholders benefit above all. Make them whole and happy and they will follow leadership on their next adventure.
An affirmation? Yeah, because history tells us they'd never do a reverse split, right? It seems kind of obvious to me but okay. For penny players, the rs is like crack.
Moderators, How do you suggest folks here learn by comparison if one cannot name a company to compare to? Otherwise they're just living in a vacuum. Hmm.
You'll rarely find the real motivation behind the reverse split on any printed page. It's a way around for failed leadership having to come straight out and ask shareholders for more registered/authorized shares. More often than not in the fine print authorized will not split with the outstanding, causing great dilution to shareholder equity.
Terrible. Reverse splits are bad enough but absolutely deadly when the authorized doesn't get split. Just more dilution and shares to sell as a reward for not doing their job.
So knowing all this you still think in terms of possible approval?
Seems at odds with common sense.
"About market cap"....No, not really.
Northwest Biotherapeutics Inc. (NWBO) voluntarily withdrew its common stock from listing on the Nasdaq stock exchange, and switched to the OTCQB Venture Market (the “OTCQB”), commonly called the OTC market. (For more, see What Are the Advantages and Disadvantages of Listing on Nasdaq?)
On November 7, the Nasdaq staff notified the company that they have identified a few financing transactions completed between May 15, 2016 and October 13, 2016 that did not adhere to Nasdaq rules. Northwest then initiated remediation discussions, but the company’s remediation plans were rejected by the Nasdaq staff. The recent development to switch from Nasdaq to OTC is a fallout of that rejection.
OTC listing will also offer savings through reduced exchange costs, though it will come at the price of REDUCED transparency.
Read more: Northwest Biotherapeutics Shunted to OTC (NWBO) | Investopedia http://www.investopedia.com/news/northwest-biotherapeutics-shunted-otc-nwbo/#ixzz4YOpQBvsc
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"NWBO (NWBO) has 2 splits in our NWBO split history database. The first split for NWBO took place on June 28, 2007. This was a 1 for 15 reverse split, meaning for each 15 shares of NWBO owned pre-split, the shareholder now owned 1 share. For example, a 1000 share position pre-split, became a 66.6666666666667 share position following the split. NWBO's second split took place on September 26, 2012. This was a 1 for 16 reverse split, meaning for each 16 shares of NWBO owned pre-split, the shareholder now owned 1 share. For example, a 66.6666666666667 share position pre-split, became a 4.16666666666667 share position following the split."
Reverse split?
Ah, i see...The old conspiracy routine. Makes it impossible to argue since it's based on no evidence of any kind. Wolfpacks and demons all chasing poor little Linda.
Okay so, have it your way, the science is settled. It works!!!
Now, why are shareholders down ninety percent and what are they prepared to do about it?
They're using CEO King's playbook.
They almost all complied except with the story line created here.
LOL. While you're at it why not get some "clarification" on the whereabouts of the investigation into "understanding" Phase Five's motivation for that piece rather than Powers alleged actual involvement? How much do you think shareholders are paying for that crack investigative team year after year?
Hi Les, How about just a simple hour long cc? Most shareholders have forgotten what Powers looks and sounds like.