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Is this lawsuit good or bad for shareholders?
It would be nice to receive an accounting of how many patients are treated under the specials program, and how much revenue is recognized.
If the terms of the contract with Advent are that they retain revenue collected from specials for buildout, then that should be disclosed.
Another Hoffy alias.
No doubt about that.
In my opinion, they already have. It’s really all upside for Toucan.
Don’t know. But the last time I told a Harvard grad to hand over my tape dispenser no questions asked, he blamed a Stanford grad who was offended by a comment I made about their campus looking like a giant Taco Bell.
Apparently, Harvard grads like to shift the blame.
That’s actually funny.
You get rare points for that.
Now it makes sense. Everyday it seems like something is missing from my office — like yellow pads and my favorite magic markers, and just stuff like my coffee mug. I’ve blamed the cleaning staff, janitors, my secretary, the night guards; and even wondered if maybe some rodents weren’t taking stuff to build a hidden nest in my wall?
But I also work with and around a number of Harvard grads. And someone now has a stapler (I know it’s mine!) that looks suspiciously like the one that went missing a few months ago. And another Harvard grad is all of a sudden using blue Posted Notes, which I often keep on top of my desk. I’ve asked them about these items, including my coffee mug (I want that damn thing back!) but each one denies any wrong doing.
But now I know everyone is lying!
Harvard churns out cheaters at a very high level in my personal experience. Virtually no school consistently turns out people who think they can lie blatantly and get away with it as much as Harvard in my personal experience
You don’t get much of anything. So not surprised by your question. But will save a hot dog for you.
Agreed, he captured the sentiments of many investors very well. There are obvious problems w/ regard to management. But always felt that the success of the trial would carry the day and offset managerial risk. I’m a lot less sure of that bet after today’s press release. And it wasn’t just the substance, but also the form of the PR that has me a bit unnerved about what’s going on with them.
This is almost Orwellian.
This a forum to express one's views.
The problem as I see it is they simply don’t get enough sleep. They are not well rested enough to even write a coherent PR.
Water dripping from a faucet.
And this is why I read this message board.
Some of the heros below slept 4 hours a night for 20 years.
It’s hard to make this case as an investment thesis, but that’s why many of us are longs despite managerial issues.
Despite all of this BS with this useless management team I think NWBO is the best investment that I am aware of. The science will overcome the incompetence eventually.
Also, the new loan might simply be a refinance of the existing Streeterville loan that was scheduled to begin amortizing this month.
The note is what evidences the loan. So that’s what the original issue discount is applied against. So yes, NWBO will only receive $10 million in loan proceeds, but repay $11 million in principal.
The structure must have some tax benefit, but not sure how. Interest is income, but principal repayment isn’t — but very much doubt that the IRS would have any kind of loophole for this kind of arrangement.
Not rocket science.
On November 10, 2023, Northwest Biotherapeutics, Inc. (the “Company”) entered into a Commercial Loan Agreement and Note (collectively, the “Loan Agreement”) with Streeterville Capital, LLC (the “Holder”) in the amount of $11,005,000. The Loan Agreement has a maturity of 24 months. Repayments do not start until November 10, 2024.
Following November 10, 2024, the Loan Agreement will be amortized in 12 equal monthly installments of principal at 110% of the pro rata amount, plus accrued interest. Interest on the Loan Agreement accrues at a rate of 8% per annum, and the Loan Agreement includes an original issue discount of ten percent.The Loan Agreement allows pre-payment at any time at the Company’s election. If the Company elects to pre-pay, the pre-payment would include a 10% charge. The Loan Agreement contains customary default provisions, including for potential acceleration.
There’s another order to request permission to bring an Elmo Lunch Box, but this particular order is to permit a lawyer to bring certain electronic devices.
As I’ve said in the beginning, this is a very technical case, so it makes sense there will be slides and various graphics.
IN THE MATTER OF AN APPLICATION
TO BRING PERSONAL ELECTRONIC DEVICE(S) OR GENERAL PURPOSE COMPUTING DEVICE(S) INTO THE COURTHOUSES OF THE
SOUTHERN DISTRICT OF NEW YORK FOR
USE IN A PROCEEDING OR TRIAL
The following Order is subject to the definitions, obligations and restrictions imposed pursuant to Standing Order M10-468, as Revised. Upon submission of written application to this Court, it is hereby
ORDERED that the following attorney(s) are authorized to bring the Personal Electronic Device(s) and/ or the General Purpose Computing Device(s) (collectively, "Devices") listed below into the Courthouse for use in a proceeding or trial in the action captioned:
Northwest Biotherapeutics, Inc. v. Canaccord Genuity LLC et al., 1-22-cv-10185-GHW-GS __________________________________________________________________________________________.
ORDERED that for the device(s) checked below SDNY Courtroom WI-FI access shall be provided.
The date(s) for which such authorization is provided is (are)__N__o_v_.__1_4_,__2_0_2__3_______.
Attorney
E-Mail Device(s)
Courtroom WIFI Granted
9A Yes
Peter Fountain
peterfountain@quinnemanuel.com two laptops; external monitor;
HDMI switch; iPhone; assorted cables
In all fairness, include the other side of the story of how the company was blinding and harming patients in other ways. Investors were completely wiped out, including those that were subject to what I can best describe as a stock pumping effort on another private message board.
When I have time, I’ll share the sad story of US Stem Cell. Anyone can look at their Ihub page. Ticker:USRM
From NBC News:
Three elderly women got suckered into paying for unproven “stem cell” eye treatments at a Florida clinic and went virtually blind.
This quote from you is so naive and irrelevant to whether the contracts between Advent and NWBO are fair and negotiated and managed at arms length — putting aside the actual ownership issues — I’m really not sure what to do with it.
You forgot about the fact that workers had to work two shifts a day to get Advent ready for NWBO. Advent's top priority is to provide the needs for GBM patients.
How do you know Advent hasn’t increased their cap ex to expand their facility to accommodate other non-NWBO clients?
200 compassionate use patients…OMG, where’s all that revenue going!!?
I’m going to start a GoFundMe page to send you to business school.
Dstock, maybe you’ve been misleading readers? Advent is an independent company owned and controlled by Toucan, and likely has other clients. Advent’s certainly been soliciting new clients if you look at its web page.
https://www.adventbio.uk/
We don’t know the specific terms of their contracts, including what’s included in the cost component of the cost plus calculation, let alone if there are other clients or not that share those costs — how do you know NWBO is their sole client?
Stay in your lane D, you don’t understand business.
Couldn’t agree more.
If it’s true that a large number of compassionate use patients are being treated, sans those designated for the comparability study, that revenue has to being going somewhere.
And it doesn’t look like it’s flowing through NWBO’s income statement.
I wonder if NWBO is allowing Advent to retain. more of the earnings from compassionate use as long as they are investing in upgrading Sawston. [img][/img]
The hand crank on my driver side no longer works, so it’s difficult to lower my window to throw my quarters in the toll.
After looking at Bigger’s Twitter, he appears to be living in a van DOWN BY THE RIVER!
Albeit it’s a dry river.
I just hope the consultant doesn’t get a bad sunburn and can return to work next Monday.
I would like the opportunity to vote on the company’s current vacation policy of “It’s always five o’clock somewhere.”
All I know is Nate’s Food Company has more reads than this message board. I think that says something.
Not sure the question of “who owns what” in terms of control is all that meaningful when the same person and entity (Toucan) actually control both sides of whatever contracts are in place.
However, the contract(s) between NWBO and Advent is certainly important in terms of creating the legal framework for defining the various obligations and payment flows to and from the companies. But we don’t know what those terms are. This is especially relevant at present for how revenue from specials are allocated between NWBO and Advent. Does anybody know?
Note 1:Advent is an independent CDMO, so it may be increasingly difficult to discern activities at Advent related to NWBO from those of other clients, which they are actively soliciting.
Note 2: NWBO’s valuation has nothing to do with Advent’s valuation. However, Advent’s valuation has almost everything to do with the value for NWBO based on the success of the RA approvals.
Murthy left Flaskworks well before the completion of his contract, probably leaving $1 million or more of compensation on the table.
The real question I have is why did Murthy leave so soon before achieving his contractual milestones, and why was it never disclosed? Seems material enough given the strategic importance of Flaskworks.
And why did the social media consultant via their influencers and allegedly the company behave so aggressively when it was discovered?
Answers those questions, imbecile.
Fe, glad you responded, because I had no idea what to make of that post — wasn’t ever sure what it meant?
There’s actually a larger problem — in my opinion — that the company continues to rely on angel investors. A lot can be said on this subject.
But one obvious point is they’re simply way too close to management for comfort, and the optics are bad to say the least. (I’m really looking forward to the 10Q in November.)
Having said that, I wouldn’t be surprised if NWBO’s version of Glasnost is a product of angel investors pushing them hard in that direction. And I doubt Linda and Les are really in a position to push back at this point given the fund raising requirements.
You sound like my wife,
Is that you honey?
My concern with Project Orbis is the same as Horse’s. Working across different regulatory processes also runs the risk of slowing the approval process, especially since one RA issue could cause a knock on effect that causes the other RAs to slow down to consider the concerns of their peer RAs. More eyes might not be better.
Not clear to me that Project Orbis is actually more efficient. Someone will have to show the data.
The generic concerns, a few are moot to DCVax:
While Project Orbis offers several advantages, there are also some potential disadvantages to consider:
1. Limited scope: Project Orbis currently focuses on cancer drugs only. This means that drugs for other diseases or conditions may not benefit from the streamlined review process and patients may still face delays in accessing these treatments.
2. Varying regulatory requirements: Despite the collaboration among regulatory authorities, there may still be differences in the specific requirements and standards of each country. This can lead to challenges in aligning and harmonizing the review process, potentially causing delays or additional regulatory hurdles.
3. Resource constraints: Participating regulatory authorities may face resource constraints, including limited staff and expertise, which could impact the efficiency and speed of the review process. This could potentially result in delays in drug approvals.
4. Limited participation: While Project Orbis aims to involve multiple regulatory authorities, not all countries may choose to participate. This could limit the reach and impact of the initiative, particularly for patients in countries not involved in the collaboration.
5. Potential safety concerns: The expedited review process may result in a shorter timeframe for evaluating safety and efficacy data. While regulatory authorities strive to ensure patient safety, there is a risk that some safety concerns may not be fully identified or addressed during the accelerated review process.
It is important to note that these disadvantages are not unique to Project Orbis but are inherent challenges in any global regulatory collaboration initiative.
It’s funny how all the same grouping of aliases show up all around the same time, and carrying the same theme.
Interesting.
Wish I had time, but that sentence is a goldmine of humor.
He invests and analyzes whist Kite Surfing, Helicopter Skiing and Mountain Biking
Not sure why Bigger would be so mad. Nobody seems to understands the need for
a good vacation more than him.
Just another Hoffy multi alias.
Funny…like he never really left.
Retard.
Horse, not that we’re dating anymore since you gave back my class ring, but have to say this line of yours was funny, almost in a Forrest Gump Smiley Face “Have a Nice Day” kind of way.
… not that clowns are bad. But…
Incompetent would suggest they’re actually trying to manage something. But in my opinion, this is largely an unmanaged company in our common understanding that’s just a financial vehicle to raise capita, own the patents, and contract everything else at — and then whatever happens, happens.
The temporary unavailability — almost sounds like a planned vacation — of a key consultant is laughable. What’s that about?
The silver lining is I have to give them props for being a little more transparent.