NorthWest Biotherapeutics Inc (NWBO)

[GoodGuyBill]

Perhaps, nwbohica, shareholders who vote "no" do not see it as voting against their own interest. Could it be possible that these shareholders don't believe management should be rewarded, giving the company's poor performance.

NWBO's management has been inept in managing its affairs. Since 2015 NWBO's market cap has fallen from nearly $1 billion dollars to less than $100 million. Because of a lack of a competent CPA/CFO, NWBO botched the maintenance of its Most Favored Nation (MFN) strategy with its privately-owned manufacturer, Cognate. This resulted in NWBO being forced off of the respected and well-regulated NASDAQ exchange to the free-wheeling, less regulated/respected OTC exchange. To make matters even worst, management elected to not raise funding when its stock price had appreciated 100+% even though it had 1 institutional investor at the time, limited cash on hand and a high burn rate due to the ongoing cost of its muti-continent DCVax-L phase III trial. This error in judgement forced NWBO to raise funds while the price per share (pps) of its stock was at penny stock levels, diluting the value of this company to unrecoverable levels. The number of shares outstanding increased from approx. 170 million to, now, 1 billion. NWBO's pps plummeted from a high of $12 to its current price of 22 cents. Despite its dismal performance, management is seeking, via the upcoming proxy vote, to "reward" three of its directors with 16 million shares (on top of the 141 million its 7 officers and directors already own). Management should be too embarrassed to even ask for a "reward", given its dismal performance.

Exactly, I don't understand how some of the shareholders are voting against their own best interest! Totally understand the frustration but I think voting no is counterproductive. GLTA