NorthWest Biotherapeutics Inc (NWBO)

[Poor Man -]

The big mistake we all make is we think this is a “real” company. It’s not, and there is no expectations it will ever become one. NWBO is just a vehicle to own the patents and to fund the trials, and to support Toucan’s other related ventures.

Shareholders are a necessary evil in connection with raising capital. Period. If they don’t have to engage shareholders they won’t - we all know that from years of experience.

The game is we’re betting on the success of the trial and to remain as much aligned with Toucan as reasonably possible. In other words, try and hope we’re not all screwed by NWBO/Toucan in the process.