NorthWest Biotherapeutics Inc (NWBO)

[sentiment_stocks]

If we use the outstanding number of warrants as of June 30, 2021, you still have to back out the 58.8 blocked insider warrants, and then subtract out the 15.2 million warrants that were converted to shares between July and August 2021 (noted on page 19).

That still leaves them with 33 million shares.

872,440,436 (shares as of August 13)

+ 282,,197,520 (derived from the numbers above and using the number of warrants you suggest - outstanding warrants as of 6/30/21)
+ 27,501,000 (exercisable options)

=
1,166,938,956 (using your number of warrants)

1.2 billion - 1.17 still leaves them with 33 million shares to sell upon release of clinical trial data, and without raising the authorized or a reverse split - assuming that the blocked warrants and options remain so.

I still think my previous numbers are closer to what's really available; however, the bigger point is that as long as the insiders continue to suspend their options and warrants, that leaves them access to a very considerable number of shares to sell upon release of the material data, in order to raise a very considerable sum (of course, presuming the shares are worth a higher price than they currently are now).