Thursday, May 14, 2020 7:42:33 AM
LG gave me the revenue figure of $60 million per initial 12 month not once but a number of times. He said that the UK is waiting for release of top line to gof ahead with an expedited approval process. There appears to be absolutely no doubt in his mind that the UK will approve and be first. Aside from 50'patients per month he did not give a break down but said there is a long line of pent up demand. Hence demand is not an issue whatsoever. His pricing is 150,000 pounds per treatment NOT $150,000. I thought I had it wrong but he confirmed the figure.
WRT 95 million warrants, I got that figure from him. LP and other big holders got the deal. I am not big enough holder and so I did not get the deal. The point being that, in any event, that deal should not have been given to anyone. Doing the math on my deal if LP and the others followed the pattern , LP wiouod have been required to cough up at a minimum $ 5 million. I thought the purpose for extending warrants was to get cash. NWBO could have gotten a lot more cash if LP et al had the same deal in principle as the smaller investors. To me this coningent deal does not convey fair value to NWBO. I will be pissed if they do another raise and dilute. So will other investors. The premise is that TLD will be released during the restrictive period keeping a flood of shares off the market and a squeeze spiking the SP. Presumably good for all investors and NWBO. But it is not certain but contingent. Cash on the barrel head is not. LG tried to justify it by saying that there are ways to value restrictions. I said when there is a will there is a way. We are both lawyers but I bet there is no judge that would buy his argument even using esoteric B&S which I call BS. Hope the foregoing clears some of this up.
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