NorthWest Biotherapeutics Inc (NWBO)

[JRIII]

I still believe that shareholders' May 2018 enthusiastic approval of a two-thirds increase in outstanding shares was the worst thing that could have happened. It was a missed opportunity for shareholders to employ the one piece of leverage they had to hold these people accountable. Things were at least as contentious then as they are now. We had been promised TLD in 2017, and then they let us down as they always do. To placate us, they announced data would be shared in a prominent medical journal. Sound familiar? As the months passed we came to learn that the data was interim, blinded, blended, and, ultimately, 100-percent meaningless, and the journal was in fact a publication no one had ever heard of and the company had to pay for the article to be printed on a two-week turnaround, without peer review, in time for ASCO. And then came ASCO 2018 (I just can't bring myself to go over that unmitigated disaster again).

But mixed into the 2017-2018 debacle was the too-often-overlooked shareholder vote to expand outstanding shares to 1.2 billion. How could investors, without even the slightest hesitation or critical analysis, allow their investment to be diluted by two thirds? The vote allowed this sham to go on for what will end up being three additional meaningless years. That's three years of our lives wasted reading this useless message board every day. Three years of NWBO management making millions of dollars while shareholders held the bag. Three years of 1,500-word tomes about how one EMT doctor's incomparable life experiences have shaped his world view into a perspective superior to the rest of us. (It's difficult for me to imagine the burden of having to carry around an insufferable ego like that, but one of us is here every day laying out in print for all to see).

So that brings us all the way to 2021, where the NWBO CEO has now diluted our holdings well beyond the approved 1.2 billion share limit and no one even seems to care. No one seems to care that 1.4 billion shares of stock has destroyed the potential payoff of a successful trial, the potential for a buyout, and the potential for ever getting out of OTC prison. And in the end the three additional years we've been sitting here waiting will have no added value. It turns out that after conducting a trial for 13 years they got to the supposed end and didn't like what they saw and decided to change the effing endpoints. This whole saga is a time cost that can never be recovered, and for what? So that the management of NWBO could continue paying themselves month after month, and enriching themselves through incredibly shady moves like the sale of Cognate, loans to the company at 18-percent interest, and falsely pumping the share price with lies like, "Come to the shareholder meeting. It's going to be interesting!", "We expect hard data lock by the end of May and TLD in June or July," and "We now expect TLD to be released sometime in September", etc., etc. And the delicious cherry on top is that, according to some people, we are now once again waiting on publication in a prominent journal. It's Groundhog Day in NWBO Land.

At what point are you people finally going to admit that something is seriously, seriously wrong?