NorthWest Biotherapeutics Inc (NWBO)

[austinmediainc]

The first paragraph in our 10k,

Our management and our independent auditors have identified internal control deficiencies, which our management and our independent auditor believe constitute material weaknesses.

In connection with the preparation of our financial statements for the year ended December 31, 2013, and prior years, our management and our independent auditor identified certain internal control deficiencies that, in the aggregate, represent material weaknesses, including:

•insufficient segregation of duties and oversight of work performed in our finance and accounting function due to limited personnel; and

•lack of controls in place to ensure that all material transactions and developments impacting the financial statements are reflected.

As part of our independent auditors’ communications with our audit committee with respect to audit procedures for the year ended December 31, 2013, our independent auditors informed the audit committee that these deficiencies constituted material weaknesses, as defined by Auditing Standard No. 5, “An Audit of Internal Control Over Financial Reporting that is Integrated with an Audit of Financial Statements and Related Independence Rule and Conforming Amendments,” established by the Public Company Accounting Oversight Board, or PCAOB. We have begun taking appropriate and reasonable steps, and will continue and complete such steps in due course, to make the necessary improvements to address these deficiencies, but the timing of such steps is uncertain and the availability of funding and resources for such steps are also uncertain. Our ability to retain or attract qualified individuals to serve on our Board and to take on key management roles within our company is also uncertain. Our failure to successfully complete the remedies of the existing weaknesses could lead to heightened risk for financial reporting mistakes and irregularities, and/or lead to a loss of public confidence in our internal controls that could have a negative effect on the market price of our common stock.

Hire a CFO! Your excuse is that you are uncertain of funding and can't attract qualified people?? I personally know some very qualified CFO's that would take 200k plus stock options, a very small price to pay considering our current expenditures!