NorthWest Biotherapeutics Inc (NWBO)

[JRIII]

If there's a metaphor for that 10Q it's that NWBO is a boat that has sprung so many leaks that they just can't plug them fast enough anymore. It's amazing that it's still afloat. It's sinking fast, and worse, there's no land in sight.

They say in the 10Q to expect TLD after Labor Day, which creates the expectation that it will be soon after Labor Day. But it won't be. It's now August 11 and they haven't even locked the data. They say,

Following completion of the trial data lock, the independent statisticians will be given access to the raw data in the trial database, and will undertake the calculations and the preparations of the Tables and Listings which provide the Trial results. The Company anticipates that the statisticians’ work will take several weeks.

Then they go on to say:

When the Company receives the initial results, it will review the data and results with its Scientific Advisory Board, the Trial Steering Committee, and other key advisors. During this process, any questions or comments from the experts will be addressed as part of the preparation of the results for public reporting. The Company anticipates that these very important discussions with experts could take several weeks . . .

Again, it's August 11. So how in the hell do they expect to release TLD anywhere near Labor Day after these multi-week (which with NWBO means multi-month) processes? It's just insane that they keep throwing these unrealistic dates out there. It burns them every single time, and yet they just keep on doing it.

This 10Q reads like a dog-ate-my-homework excuse manual. They laid out every single COVID excuse they could come up with, which begs the question of everybody has known COVID would affect business operations, so why did you tell shareholders to expect data lock by the end of May, then the middle of June, and then the end of June, and fail to meet every one of those deadlines. It's now August 11 and they still haven't locked data. I especially loved the part about the vendor they owe $100K+ to that they haven't paid because they just can't seem to find the vendor anywhere. It's a joke. Nothing here is reflective of a serious business.

Good management gets things done. The management of NWBO never, ever gets anything done except financing deals that benefit them and their buddies and screw the rest of us common shareholders. They've diluted this stock to the point that even TLD success will mean little. It's a sad state of affairs, and it's all due to management's gross efforts to hide a failed trial.

Now, they've even attracted the spotlight of the SEC with their German tax scheme. Wonder what the real story is there, because what you just read in the 10Q sure ain't it. It's always good to be getting subpoenas from the SEC, isn't it? I think the authorities may have had enough of the shenanigans and are looking for an alternative way to shut down this clown-show for good.

NWBO is a straight-up scam.