NorthWest Biotherapeutics Inc (NWBO)

[JRIII]

Rank and file shareholders should reject any request for an increase in the number of authorized shares

Too late. Shareholders already agreed to a massive dilution in 2018 that destroyed the value of our holdings by 67 percent. This, in my opinion, was a fatal decision, and it was approved overwhelmingly by shareholders with almost no critical analysis of the implications. Shareholders at the time were convinced that unblinding and topline data were "right around the corner" and that approving the dilution would propel the company "across the finish line."

Here we are two years later and nothing has changed. If the company were to propose another increase in authorized shares shareholders would again approve it overwhelmingly and would still be convinced that unblinding and topline data were right around the corner, pedal to the metal. That's because there are no shareholders quite like NWBO shareholders. They are dumb, and for some reason they think the lying lawyers in charge of this company are going to surprise the world with some announcement that they have a cure for cancer and we are all going to be rich. There was a time long ago when there was reason to believe that might be the case. But not anymore. It should be obvious to everyone what is going on here, and it should have been obvious before that 2018 vote that destroyed our investments. But, alas, there are no shareholders quite like NWBO shareholders.

Company officers used that 2018 vote to provide an extended source of revenue so they could continue enriching themselves. No one can deny two simple facts: 1) Who has gotten rich here? Answer: NWBO officers; and 2) Who has gotten poor here? Answer: NWBO shareholders. With every day that passes, there is less of a chance of that dynamic ever changing, and right now the chances are at zero.