I was in the process of drafting a response to Happy in reflection of new due diligence with Happy's HE comments to me. I decided to post as a post itself considering Happy got frustrated and doesn't plan to post. Happy's HE analogy was spot on. Only thing missing was the "50 patients waiting list". I actually know Eric, so I know what he does for a living. Hadn't realized he joined NWBO. But I also see that Happy is correct on no revenue. Didn't stop Les from discussing 50 patients waiting list last year, this year. They are definitely working on it though, but don't see much coming from that until they complete enrollment. But the company did know going back March of 2014 that they couldn't start the negotiation process until regulators approved the amendment changes, and clinical sites are in the study. What I wish they would have done is just been completely honest with us about the Hospital Exemption from the onset. It’s not like they didn’t know of this Patient by patient filing though. It is mentioned as far back in their SEC statements as 2008 March 10Q, in their words, not mine, as: “Exploration of compassionate use/named patient program outside of the United States”. I do realize that the Hospital Exemption program evolved in Germany since then, but it seems that “named patient” portion was simply replaced with "insurance named patient”. It would have been smarter in my view to tell us the good, the bad, and the ugly about the program. While I realize such honesty in 2014 might not have as much of a positive effect on the stock price initially, over time that HE becomes more valuable. Essentially in Germany it is a Fast Track designation. Once enrollment is complete, NW Bio can concentrate all its energy on practicing manufacturing, helping real-life brain cancer patients. But no, they choose to announce it as grandiose, have us believe it would amount to something sooner and so now many shareholders just view it as a meaningless accolade. Just another example of what they told via press release being true, but it clearly wasn’t the whole truth. And not being transparent and forthright adversely affects more than just their stock price. They have lost many shareholders along the way because of it. I imagine if they don’t change soon they’ll continue to.
