I am not sure why you are having so much difficulty understanding this. It is basic math, but OK let me try again per your request.
Here is the shares of common stock right of the IHub board site:
Common Shares Outstanding: 92,358,027 (as of 11-6-15) Options Outstanding: 1,551,000 (as of 5-15: needs updating) Convertible Notes: 2,343,000 (as of 5-15: needs updating Share purchase warrants: 28,330,000 (as of 5-15: needs updating)
Total Fully Diluted Shares: 124,582,027 (needs updating)
Beneficial Ownership of NWBO Common Stock held by: 0.44% Security Holders - Employees/Directors 409,467 1.7% Security Holder - Linda Powers 1,572,500 .9% Security Holder - Toucan Capital Fund 804,145 2% Security Holder- Toucan Partners, LLC 2,211,784 29% Security Holder – Cognate BioServices (11-15): 27,194,366 28% Security Holder - Woodford Investment Management 25,915,937 4.5% Security Holder – Dennis Mehiel: 4,125,949 (under 5%, not listed on 11-6-15 Proxy)
Total (11-6-2015): 58,107,899
Woodford holding divided in Common Stock outstanding = 26,915,937 = 29.14% ---------- 92,358,027
so if Woodford voted against LP and everyone else voted too and for her the best she could have gotten was 70.86% (100-29.14) and she got 82.4% so he couldn't have voted against her. If not everyone else voted or others votes against her it would be worse < 70.86%.
So bottom line is NW either voted for her or didn't vote which is a vote for her.
Relative to alternate for Leary please see announcement from NWBO on matter and bold indicating they were looking for a board member in place of Leary.
With respect to the Board, the Company agrees with the view Neil Woodford has expressed that an additional independent board member with financial expertise can help build and advance the Company at its current stage of development. The Company has expanded the financial personnel and clinical personnel on its management team this year, and expanding the Board as well makes sense.
The Company appreciates Mr. Woodford suggesting Elliott Leary as a potential board candidate. The Board greatly enjoyed getting acquainted with Mr. Leary personally, and thanks Mr. Leary for the time he spent meeting with NW Bio's Board members. After such meetings and further deliberations, the Board came to the conclusion that it was not a fit for Mr. Leary to join NW Bio's Board for a number of reasons.
These reasons include the Board's understanding that Mr. Leary has never served on any board, has no biotech experience and no pharma experience other than certain government investigations, has no experience working with companies subjected to stock manipulation, has no experience interacting with investors or helping with corporate fundraising, has not worked with companies on developing business plans or strategies, has never been asked to go on the board of any other company where he has conducted investigations, and does not anticipate playing an ongoing role on NW Bio's board after the investigation is completed and indicated he would probably resign at that time.
The Company emphasizes that it respects Mr. Leary's professional experiences and expertise, and greatly appreciated Mr. Leary's willingness to talk with NW Bio's Board on several occasions.
The Company is in advanced discussions with several other high caliber potential candidates for the new independent Director position, and expects to complete the appointment process soon. The Company is pursuing candidates with expertise to help build and advance the Company (such as corporate governance, finance and business strategy, fundraising and interaction with institutional investors, the biotech or pharma sector, corporate partnering, governmental and regulatory affairs, and/or professional experiences with bear raids and/or stock manipulation), and who are interested in remaining long term, conflict free members of the Board.
Mr. Charles Price has been engaged to be available as a resource for the independent investigation, and to help seek action by the authorities in regard to manipulation of the Company's stock. Mr. Price is a highly decorated, nationally recognized former FBI Special Agent and certified public accountant (CPA) who retired from the FBI approximately a year ago after a 28-year career with the Bureau, and is now a Managing Director with MorganFranklin Consulting, LLC where he is a leader in their Corporate Investigations and Dispute Solutions practice. Mr. Price received the FBI Director's Award for Excellence in HUMINT (human intelligence), the Bureau's highest award, in 2011, and received more than a dozen Outstanding Public Service Awards from US Attorney's offices, as well as numerous commendations and awards from the FBI for excellence in investigation. Prior to joining the FBI, Mr. Price worked as a CPA at Arthur Andersen & Co. performing financial statement audits in the financial services industry.
