NorthWest Biotherapeutics Inc (NWBO)

[Jack2479]

I know this is painful to read but I'm dumbstruck why good honest long shareholders that have tremendous hope and faith in the science and have produced some outstanding DD and posts helping others learn more of the workings of drug trials and the approval process continually bury their heads in the sand when it's your own money that is at stake...

We get but one chance a year to confront management in a public way to seek assurances that our investment is safe and the AGM is normally that one opportunity to address any number of issues non science related such management structure, communications, management incentives, board weaknesses, the investigation, the financing going forward and for management to demonstrate they are working in an open transparent way for the benefit of shareholders....trust is earned and not a given. Science updates can be at anytime but the corporate governance weakness here seems to get a pass because of the amazing science. We need to understand the vision strategy and culture as well as feel engaged and be able to challenge. Some investors will never challenge or do anything about such obvious issues of Governance out of some misguided loyalty to management...that is very very dangerous.

https://en.m.wikipedia.org/wiki/Annual_general_meeting

http://www.investopedia.com/terms/a/agm.asp

Let me add that I do not believe any member of the board is a criminal or engaged in fraud but it is not in our interests to have so much power in the hands of the largest shareholder....the chairman, CEO and CFO all being the same person that allows for decisions to be made based on the wishes of that largest shareholder and there is nothing NW or anyone else can do about it. It swings both ways and having two out of three of these roles with one person who is the largest shareholder can be a good thing if certain checks and balances are in place. Quicker decisions and a more focused determined approach could lead to faster success. However we do not know or understand what these checks and balances are as we are not told. For example a CEO might be the Chair but not the CFO...why I hear you say? We fell foul of the rules permitted to remain on the NASDAQ and having all this responsibility in the hands of one person means that person was so stretched and yet had so much control we failed the test to remain listed on the NASDAQ....the line between what serves everyone's interest and what does not has been muddied and is confusing. Another example is a chairman ensures each and every board member has an equal say and status at that board meeting. The chairman picks the NEDS and ensures we have complete governance on all financial matters independently arrived at from a CFO who whilst reporting to the CEO offers independent and fiduciary responsibilities in addition to the CEO....all these functions are not clear or transparent and the NEDS are appointed by the very person controlling every non scientific position on the board. Those same NEDS are there to protect you and me but are appointed by the person who controls everything...that is a big red flag!

If NWBO is to become the "Apple" of BP as someone stated earlier and is ever to achieve its full potential in shaping how Cancer is treated globally then as well as amazing science they are going to have to significantly change the management style and culture and as well as laying the foundations of Sawston it's equally important they lay the foundations of the best in corporate governance and culture.....something I felt today was a massive missed opportunity by management....and in turn they fail to attract the very blue chip investors that could pour the big bucks into this to kick start a recovery...hey ho