NorthWest Biotherapeutics Inc (NWBO)

[trocprofit]

510 million may be outstanding prior to warrant exercise and conversion to common. As stated in an earlier post, warrants are not stock until exercised. So they remain on the books as issued, and as a liability, until warrant owner converts. Thus, the exposure is probably up to 1 billion common outstanding once all warrants are turned into stock. But, that fills the coffers with cash on most of them.