NorthWest Biotherapeutics Inc (NWBO)

[hyperopia]

ex, not a big deal, but some of that equipment is listed under “Construction in Progress” which is about $1.5M. Contrary to what you say, it appears that Northwest Bio will own the equipment, not Advent.

Construction in Progress
In connection with the Company’s manufacturing facility in U.K, the Company has incurred and is incurring costs with certain vendors to design and build out the initial stage of the facility. Additionally, the Company purchased certain manufacturing equipment that will be installed in connection with the buildout. These costs were all capitalized and recorded as part of construction in progress as of June 30, 2020.  Upon completion of the buildout, all costs associated with the buildout will be recorded as manufacturing equipment or leasehold improvement and amortized over the estimated useful life of the facility.

Either the project is a total farce, or Advent owns the equipment. And nobody knows what the terms are. Advent will be making product for other companies (just like Cognate does). Do they get to use NWBO's physical facility for free to do this? Do they pay rent?