NorthWest Biotherapeutics Inc (NWBO)

[biosectinvestor]

On the OTC: Thanks Cadillac. Nice discussion on the legacy of the OTC.

Offering up a bit more for people who want more info:

https://en.wikipedia.org/wiki/OTC_Bulletin_Board

Companies quoted on the OTCBB must fully report (i.e., current with all required SEC filings) but there are no market capitalization, minimum share price, corporate governance or other requirements to be quoted. Companies which have been "de-listed" from stock exchanges for falling below minimum capitalization, minimum share price or other requirements often end up being quoted on the OTCBB.

Stock of non-reporting companies (those without current SEC filings) may be quoted on one of the markets operated by OTC Markets Group. Most OTCBB companies are dually quoted, meaning they are quoted on both the OTCBB and the one of those OTC Markets Group markets. Stocks traded on these markets are usually thinly traded microcap or penny stocks, and both retail and institutional investors generally avoid them, because of fears that share prices are easily manipulated and there exists a potential for fraud. The SEC issues stern warnings to investors to beware of common fraud and manipulation schemes. As such, most companies choose to list on more established exchanges such as the NYSE MKT, New York Stock Exchange, or NASDAQ once eligible. FINRA believes that the proposed "quotation consolidation system" would enhance transparency, thereby decreasing the potential for price manipulation or fraud.

The suffix ".OB" in a stock-ticker listing, as in FNMA.OB, signifies "over-the-counter bulletin board"; ".PK" signifies "pink sheet".

Technical stuff that might be interesting to those so inclined... My sense is they've been working on creating infrastructure that would hopefully address many of the concerns of people relating to some of the issues that often get raised here... though hard to know as that is always a constant battle, no doubt.

Quote Consolidation System:

https://en.wikipedia.org/wiki/Consolidated_Quotation_System

The Consolidated Quotation System (CQS) is the electronic service that provides quotation information for stock traded on the American Stock Exchange, New York Stock Exchange, and other regional stock exchanges in the United States and also includes issues traded by FINRA member firms in the third market. NASDAQ processes this data and provides it to its subscribers as the Composite Quotation Service. The initials CQS may be used either for the exchange system or the NASDAQ service.

http://www.finra.org/industry/national-market-system-plans

This plan governs the establishment and implementation of a pilot program that the Commission ordered to evaluate the impact that a wider tick size would have on trading, liquidity, and market quality of securities of smaller capitalization companies.

http://www.finra.org/sites/default/files/notice_doc_file_ref/Regulatory-Notice-16-34.pdf

http://finra.complinet.com/en/display/display_main.html?rbid=2403&element_id=4413