NorthWest Biotherapeutics Inc (NWBO)

[sentiment_stocks]

Charles Schwab wants to borrow my shares. Hmm... I wonder why? Remember, I called them last week and they didn't have any NWBO shares available to short.

I received an email today from CS to enroll in a "unique income opportunity" where I can receive monthly income for lending securities to Schwab that are in high demand by other investors.

Earn income for lending securities
We're writing to offer you a unique income opportunity through Schwab's Securities Lending Fully Paid (SLFP) program. Enroll in SLFP, and you can receive monthly income for lending securities to Schwab that are in high demand by other investors.
Benefits of the SLFP program include:
You can sell loaned securities at any time.
You can end loans at any time.
Income accrues daily and is paid monthly.
You'll receive 100% collateral for loaned securities.
You can participate at no cost to you.
Next Steps
Please go to schwab.com/SecuritiesLending-Enroll for more information and to enroll in SLFP. You'll also see which securities we'd currently like to borrow from you, and how much income you can earn. You can also call us at 800-355-2448, Monday through Friday, 8:30 a.m. to 4:00 p.m. ET.

Important considerations
Security Price. There is the potential for downward pressure on the price of a security you lend if the security is borrowed to facilitate a short sale.

Dividends. If you have a security on loan to Schwab when it's scheduled to pay a dividend, you will either receive the dividend or a substitute payment in lieu of dividend (PIL). You may have to pay a higher tax rate on a PIL, but Schwab currently issues a discretionary payment to help compensate for additional taxes.1

Voting Rights. Upon lending a security to Schwab, you will lose the right to vote on corporate actions by the issuer.

Loss of SIPC Protection. Because borrowed securities may not be covered under the programs of the Securities Investor Protection Corporation (SIPC), loans are secured by collateral provided by Schwab.

Of course, I wondered what shares they wanted to borrow, so I clicked on the link. Yep. My NWBO shares.

But it also said this...

Notice: The principal reason to borrow a security is to facilitate a short sale. Not all securities and account types are eligible for the SLFP program.

So I'll have to decline that offer. :)