NorthWest Biotherapeutics Inc (NWBO)

[exwannabe]

That is a very nice legal definition as it could appear in a contract. Alas we are talking financials here. It clearly is stated that in the 8K form that it is a charge to assets. There would be no write-down for this trial failure as no assets are tied to DCVax-L. The NWBO assets are tied into a manufacturing facility that will, like Cognate, do just fine w/o DCVax.

If the registrant’s board of directors, a committee of the board of directors or the officer or officers of the registrant authorized to take such action if board action is not required, concludes that a material charge for impairment to one or more of its assets, including, without limitation, impairments of securities or goodwill, is required under generally accepted accounting principles applicable to the registrant, disclose the following information:

(a) the date of the conclusion that a material charge is required and a description of the impaired asset or assets and the facts and circumstances leading to the conclusion that the charge for impairment is required;

(b) the registrant’s estimate of the amount or range of amounts of the impairment charge; and

(c) the registrant’s estimate of the amount or range of amounts of the impairment charge that will result in future cash expenditures, provided, however, that if the registrant determines that at the time of filing it is unable in good faith to make a determination of an estimate required by paragraphs (b) or (c) of this Item 2.06, no disclosure of such estimate shall be required; provided further, however, that in any such event, the registrant shall file an amended report on Form 8-K under this Item 2.06 within four business days after it makes a determination of such an estimate or range of estimates.