I have no reason to doubt your report of your telecon with Innes. Just indicating timelines for when things are expected to take place and kicking the can yet again to mid-May is not only disappointing but discouraging.
The PR set up investors' expectations but it seems now to be just a pump for the purposes of raising funds and thereafter inexorable deflation of the SP. Business as usual and no change.
Management has been careful not to give any definitive guidelines on timing and one of the important reasons cited by LG were the nefarious forces and not telegraphing NWBO plans. The idea was to catch them with their pants down. So, if the main subject of interest is to give guidance that "interesting" events will unfold up to mid-May or thereabouts and thereafter, and this is what the PR means by interesting, management now seems not to care about catching the shorts but continues to adhere to vague forward looking statements. If this is the case, the ASM is a nothing burger, shareholders have been duped once again and the interesting PR was released for purposes of the last financing. That's it.
Again, without revealing top-line, I doubt anything of material interest can or will be revealed. What may be revealed may be of mild if not questionable interest and nothing to write home about. This may be supported by LG telling an investor not to change pre-existing plans in order to attend the ASM. Of course, this flies in the face of the unmistakeable exhortation to attend the ASM and giving investors enough lead time to plan ahead for this important event.
DI's attempt to kick the can further to mid-May is a blatant ploy to back track on investors' expectations fuelled by the PR now that the objective of raising capital has been temporarily fulfilled.
It seems to me, if the foregoing is generally the case, that NWBO believes that it can continue to miscommunicate, keep dangling the carrot and hide behind legalese parsing. Just as LG has said many times..."you misunderstood, I did not say that, etc., etc." I can hear it now....."interesting does not mean top-line and need not be material or earth-shaking; it just means something of interest. You set up your own expectation." Spoken like a true defence attorney.
However, if the ASM turns out to essentially be a nothing burger, the SP will be destroyed especially on the heels of another financing. The discount and warrant offerings will be giveaways to the vultures who will once again profit on the sale of shares and get free warrants with a highly reduced exercise price. NWBO then might as well fold up IR. No need for it as no one will believe anything management says. No one will make or take calls from DI or LG. I doubt DI intends to be positioned that way, but if the ASM turns out to be a non-event, he has himself and management to blame. The science may be good but management's abject lack of credibility may well sabotage it and our investment.
NWBO----say it ain't so.
