ADVN_doclee,
You apparently assume that Mr. Woodford's actions with regard to Ondra and his attempt to seat his own choice for board member was somehow an attempt to improve investor value. I don't believe that. Ondra's job was to supposedly learn the basics about the promising DCVax technology including cost saving manufacturing advantages NWBO had over competitors and use this to convince new investors that NWBO provided a good risk to reward opportunity. Most of the information Ondra would have needed would have been expected to be publicly available but not well disseminated already. What seemed to alert Linda Powers to potential problems with the Ondra meeting was noted in a reference she made in a formal response to the situation. She pointed to a very aggressive pursuit of non public information by Ms. Wolf. Carefully guarded secrets need to stay that way when a small company is developing a potentially disruptive technology and I suspect Linda knew the questioning was delving into these areas without any apparent need to do so. Subjective analysis on my part? Yes, but backed up by the actions taken.
Again I will state that the NWBO board seat sought by Mr. Woodford was not pursued by him until after the Ondra affair which clearly left egg smeared on his face by his connection to them and insistence that NWBO pay for their services as a condition of his funding. Early on Mr. Woodford appeared to be coming to the rescue of a company under attack by bears from 2012 - early 2015 and Mr. Woodford caused them some consternation in the Spring of 2015 (April call options). Clearly it was his investment support that added value to NWBO price not anything done by Ondra. Well after the halt and when the share price was more depressed Mr. Woodford's associates started to buy positions in NWBO. To combat this Linda appears to have let the price go into a free fall during a relative news vacuum perhaps created by a self defense strategy which included buying back cheap shares to maintain control while Mr. Woodford was on the sidelines and his associates lost money on their balance sheets after they invested. Linda has alays found a way to maintain control. This time the vote to increase authorized shares allowed a nail to be put in the coffin of any possible hostile attempt to take gradual control through loose associations as Linda offered shares up for sale basically only to friendlies on the cheap.
Another part of her strategy is seen by the creation of a truly independent Cognate through a sale to management and financing through vetted sources. The stage has now been set for a final validation of products and price run up before any potential merger or sale between friendlies and the threat of an unwanted buyout has been greatly reduced.
Mr. Woodford took public his discourse of dissatisfaction and by that course of action took his own investment down. There is no other legitimate way to view this. His public words and actions gave a measure of validation to the short thesis posed by Phase Five which had little impact by itself on share price. Had he stayed silent publicly and continued to support NWBO financially through loans instead of share accumulation, the value of his investment would have largely been sustained. He chose a course of action contrary to this. So yes, he did put his own investment at risk. Again I bring up the timing of events as strong indication of a correlation to actual events being interpreted as I have posited. The commonly known outrage expressed towards Mr. Woodford in a more private manner by NWBO insiders at the time this all went down is further evidence.
On a final note, I know that Linda knows that faithful longs have been let down and hurt by this strategy but I also believe there will be a way provided to help make that back up to some degree. Best wishes.
