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It is absolutely relevant to how connected they are to to the business, which was my point (that you didn't address).
I know people think they can insult me away from here but that is a waste of time (and the moderators I'm assuming will catch up) but that's not really the point of an investment message board - where contradictory opinions bout stock trading should be welcomed and discussed - so most of the comments directly attacking me I've ignored. This last one included.
Look, why is everyone so touchy about me raising a legitimate question and looking for those who CLEARLY think they have an answer to give it to me?
Me thinks some maybe just as unsure but don't want to admit it. Too bad. I don't want people to sell...not while I have a boatload of shares anyway. But may drive some folks to do better dd than I've seen in these last couple days.
Respectfully, you must have never worked for a company with a board of directors. They are about as involved in a business as a 15 year old babysitter is involved in a child's education. They meet four times a year...at most. More likely twice...and probably via conference call.
Linda is the only one who knows the business at any depth. Over half the company's 12 employees (.nd half of the "executive team") don't even live on the east coast!
That's the truth. Check linked in if you doubt me.
So i guess your position is that publicly traded companies should just do away with the cfo entirely and ceos can all be the sole keeper of direction and financial records. Sure, no harm in that.
I mean, why have CFOs at all if they serve no purpose. What a waste of money for all these other companies.
Maybe you should get into consulting. I'm just a professional business analyst...what do I know.
Yes! So the question then becomes "why the reluctance to get another person to sign off on the financial statements as mandated by sox?"
100% agree.
Yes. That's interesting. Seven companies over $5B don't have CFOs...all others do. Did you note that the companies are NOT speculative publicly traded stocks.
There is a reason the SEC frowns upon not having a CFO and why audit are highly influenced by them. If you don't understand why...then you shouldn't be invested in a company without one.
Appreciate the effort, but this isn't the same situation.
Thanks. Appreciate the mature and intelligent answer. You're right, I don't agree...anymore than I would agree that Jordan Belfort brought Stratton Oakmont business to a point where it was when investors were all smiles...but I appreciate that you at least took the time to frame your opinion in a respectable manner.
Thanks. I look forward to the reply.
I am writing this post unattached to anyone else's replies on purpose.
Wow! I can't even begin to address some of the absurd answers (not all of you) I just got for a publicly traded company - that spends $83M of investor money annually, and is building a global infrastructure with a partner that is NOT an arm length relationship - not having a CFO.
And I NEVER got a good answer for why it's ok for Linda to pass through to Cognate so much money that they can afford to expand their business so significantly (without any benefit to the NWBO investors that gave her that money in the first place).
If you all make a lot of money, then you better thank your lucky stars. Even a blind squirrel finds a nut once in a while.
That's like saying I haven't broken the law until I get caught. Material misstatements only happen when executives admit to them or they get caught by an audit team. Doesn't mean there's nothing going on...and I still am without a reply to why they don't have a CFO.
The most logical reason to not have a CFO this long is that no CFO would sign of on SOX doc if they knew the money flow...but I'm happy to entertain other explanations as long as they aren't making excuses for the company or based in some kind of reality that makes no sense.
Sorry to inform everyone, but they will never have remedy for their material weakness as long as they do not hire a CFO. Period. That's the sec rule, not mine. I'm not making this up or kidding. There is a reason that SOX mandates companies have a separate CEO and CFO. By the waty, this is to protect...you guessed it...investors! It is one of the primary requirements to be in compliance for a reason.
Anyone asked Les lately what's the issue with hiring a CFO? 99.9% of all the other publicly traded companies have them, so what's the explanation? Anyone have an answer besides we should all sleep well at night knowing Linda is watching over our money...even though she has Cognate, where most of our money goes, as a backup plan?
And you guys are right...a material weakness does not constitute material misstatement, but it's almost always the first step before one.
This doesn't help the case against my earlier argument...in fact, it supports it. If they have so much dough, why no CFO? For YEARS now! Anyone care to answer that (or should I look forward to a whole new round of irrelevant insulting responses?) I'm begging you, just one good answer based on facts and logic that doesn't sound like a cult slogan is all I need.
By the way, jim, I'm not directing this at you. I'm just responding here.
Finally an intelligent response!!! Thanks Jack. You're certainly an exception to the board. Let me think about your response. Thanks again!
Both can be sold if it works or if it doesn't.
We only own part of NWBO, so I would like as much "value" to stay in the company. That's all I'm asking for. Linda seems to be doing otherwise.
I stopped showing up because I got tired of being personally attacked for simply posing questions to the message board.
Hope that is enough. And for the record, I was one of that dudes biggest antagonists. Another reason I left, people wouldn't stop talking about him.
Like DNDN I guess...you know there's more to success than a drug that works. If Linda sells NWBO for $1B and sells Cognate for $5B, you gonna be happy?
Nope. Read my original post. My argument is that Linda is filtering money and benefits to Cognate. That's my argument that I am waiting to hear someone prove other wise. I've shown that she has...now in a couple ways.
Because Les isn't going to get on the phone with me and say "Gee, you're right. Please don't tell anyone."
I'm not trying to convince anything of anyone...just looking for a good argument from someone...which I still haven't seen.
You're right...discussing NWBO is. Which is what I was doing.
Personal attacks, on the other hand, are not. So I look forward to your post being deleted.
Thanks, but nothing you posted says or even remotely hints that NWBO is going to be producing DCVax. Owning a building means nothing. I work in a building where my company occupies the entire building, but my company isn't on the title. NWBO - or rather a subsidiary - is a landlord...great. Still doesn't dispute my argument...in fact is supports it!
Let me help you with this arrangement: NWBO just bought a building to expand Cognate's services in Europe...period. Once AGAIN passing along NWBO investment money to better serve Cognate.
NWBO employees are not going to be occupying that building, Cognate is...and I can prove it. You need to read the actual purchase for sale contract. NWBO isn't on it, a disposable subsidiary is. Cognate - who you say isn't involved in this - is acting as the Guarantor. Why? Because they are going to occupy the building. That is why 3rd parties act as guarantors in corporate real estate investments:
http://www.sec.gov/Archives/edgar/data/1072379/000114420414069728/v393316_ex10-1.htm
Next...
Because I'm hoping someone can talk me out of selling my investment by making a VALID argument contradicting what I am seeing...otherwise, I'm putting my NWBO shares back into the market and heading off to buy an oil ETF.
Look forward to a response - any response - to my original post that is not based on opinion and has some kind of intelligence and relevancy to dispute the FACTS that I've presented.
So far, NWBO board = FAIL.
Let's say I come to you and ask you for some money to invest in my new restaurant. In exchange for the amount, I will give you 30% of the restaurant. You think "Dang! That's cheap...such a good deal!" so you give me the money.
But I take that money and instead of using it to improve the restaurant, I use it to pay a premium to the company that supplies me the food. And because I pay a premium, that company can grow and expand and get new customers and become worth even more money. Meanwhile, I'm not spending the money you gave me on things the restaurant needs...like a CFO or a public relations firm. Oh yeah, I forgot to mention I also own the food supply company.
The restaurant fails (of course) and you are left with nothing. Sorry, but the restaurant is all you invested in.
Meanwhile, my food distribution business is booming, and I move on...not even once give the failed restaurant a second thought.
I don't see this "expansion" as anything more than a sign that Linda is setting herself up for success no matter what happens. You "investors" own ZERO % of Cognate. When NWBO pays Cognate enough for them to do this kind of expansion, you know who stands to benefit? I can tell you it's NOT NWBO or those invested in it...not one bit.
How are people so blind to this situation? When NWBO goes into penny land or gets sold for a couple billion dollars (and Cognate gets sold for 5 times that as part of a "package deal"), don't say you didn't see the signs.
It depends on the level of uncommitted equity in each investor's account:
http://www.investopedia.com/ask/answers/05/shortmarginrequirements.asp
Although at this price level, and given the timing of short interest relative to the price history, and given that margin calls usually have a 72 window to settle before intervention by the broker, we could see some interesting movements in the next 3 days.
I second that...Boo-yah!
I'm speculating (see how I lead with that), but to me there's no real surprise on the price action today. People bought in over last couple weeks thinking NWBO would say something new today. Didn't happen, so stock got dumped by them. Although if NWBO had said something the stock would have gotten sold by them anyway...but at least some buying would have offset it. Those ticked off about missing the rise across $9, and waiting to get in, probably took advantage and picked up some shares.
All in all, turning out to be kind of a boring day. Too bad. Even I thought such a major event would be the right forum for something major announced. Oh well. Although the silver lining is that a small portion of shareholders are probably a little better quality.
Again, just my opinion...I still know nothing about business, investments or biotech science in case anyone was concerned that I was trying to act like I know something.
So strange...is anybody else having problems with the message boards? I think there must be something broken here at Investor's Hub.
I was trying to get to the NWBO message board, but it keeps taking me to this weird other board where all people talk about all day is some mysterious stock symbol PYRR. Hopefully this will be fixed soon, because this PYRR board is a colossal waste of my time when I am trying to find NWBO discussions.
Although I have to say that those PYRR investors sure are in love with that stock...they must have a lot invested in it. They spend every day talking about it even though it clearly has no market value.
Oh that is so funny. RK - trust me. I don't EVER believe I will always make the right moves. Losing money is a part of trading that I accepted LONG ago. Nobody ever makes me buy or sell. I do what I do from my own analysis of the stocks. I'm in AND/OR out depending on the trade off of being in other stocks instead...always. I took emotion out of trading when I lost my first nut in this game 20 years ago. Now I look for opportunities, and know there is ALWAYS a good chance I will lose money...even here in NWBO (which some people here seem unwilling to comprehend - you know who they are).
Look, here's the deal (no BS): If this hits $20, I'm going to set stop limits at that point and likely (happily) get out with about a 4x gain to move the gains into leveraged oil (if oil is still at ~$50-60). If it hits $4 again on some bad news, same deal. I know my in/out limits. Heck, I could sell Monday if I think I have some crazy opportunity with another stock. I bought at BP at $29 during the gulf oil spill, I bought BAC at $4 during the financial crisis. I bought YHOO at $19 when they were without strong leadership. Have I had trades go South? Heck yes!!! But my downsides are limited because I'm never willing to ride a stock down more than 20% from my cost average...ever! This is what I do. That is my mindset when I invest. Has nothing to do with the ability of a company to make money...my positions are usually contrarian trades against the market being emotional (which is why your post strikes me as so funny).
That's the difference between me and others here...I'm not married to this ONE stock meaning everything/anything to me. I am 100% willing to go elsewhere if I believed strongly I had a chance to make more $ in another stock with lower risk. I've got a lot of other investments going on, but those are my plans for this money as of right now. I'm here to play this as an investment, not because I give a rat's behind about DCVax-whatever. Does that clear the air for everyone?
Yes, I have a crap ton of stock compared to most here (yes, I know some have more...that's not my point), but I invest so I have something to do. That's all. You might say the market is where I get my kicks...it's my version of Las Vegas. But I am (as you can see above) methodical in my approach. It has saved my tail many times.
So you see, my post was a joke...poking fun at myself. I was laughing when I wrote it. People should take it that way.
I should also mention, as some people know, that I make a LIVING doing business analysis. So when others think I'm being a donkey about decisions Linda and Co. make, they should remember that I don't joke or try to manipulate information when I'm discussing business decisions. BAC makes mistakes, I call them out. AAPL makes mistakes, I call them out. JCP makes mistakes, I call them out. I have no agenda. I do the same with NWBO.
There...it's all on the table. Hope everyone can move on past ripping me or arguing with me every time I open my mouth...figuratively speaking of course.
If I had sold, the stock would be at $50 today. So sorry about that. I'm holding onto my 42k shares for now.
It's not a curse...it is a gift that I bestow to others. Do the opposite of me, and you'll be rich. My carry forward cap losses on my tax returns are LAUGHABLE!
I feel I should be totally transparent here...the only reason the stock price has been soaring is that I was going to buy another 2k shares at $8.50 earlier in the week and didn't pull the trigger.
You're welcome.
I'll let you know when I buy more at these highs so you can sell before it inevitably collapses right after I make the buy.
No funnier than the nonsense I've endured on this board over the last year about how this was going to be $30 at this point in time, but whatever. Clearly others are not allowed to have an opinion here unless it aligns with longs. God forbid someone should have a dissenting thought...
We'd have a lot less questions about this being a scam, more investment houses interested, and probably have the HE done...and we'd probably be at $15. But hey...why would anyone care about share price on an investment message board...right?
Ok, I'll go first...Going out on a limb here while it's at $9.19 and saying "under" $9.00 at close.
With respect, there is no such thing as "truth" in the market. If there were, there would be no buy/sell demand. There are only perceptions. That's what people trade on, and what AF is very good at working with.
Gonna get a lot of volume here as we approach EOD...anyone here wanna guess over/under on the $9.00 mark? You have til 3:00 EST to make a call.
Huh...guess some people should have bought calls instead of puts. There are those that are good at science and those that are good at investing. People should know which they are and stick to what they are good at.
His last campaign took us from 7's into 3's. Don't be so sure.
***SHOCKING!***
I'm not going to like it if AF comes out with a hit piece based on NWBO's screw up that puts this back in the 7's...
But enjoy the day.
I respectfully disagree, but ok.