NorthWest Biotherapeutics Inc (NWBO)

[Stillwell888]

In addition to the staggered repayment schedule what I find interesting is that the notes are no longer convertible. In theory Whitebox could have demanded all shares for repayment of the $11mn. For sake of argument let's use a a price per share of $0.375 which equals over 29mn shares or 18% dilution. Instead they have only diluted by about 3%. Yes they still owe money but if they manage to get another loan there is the possibility of no further dilution from this note.