NorthWest Biotherapeutics Inc (NWBO)

[MI Dendream]

Poor man - these are good points and new ones as far as I can tell regarding this argument. I am interested in your analysis here.

It looks to me like the fees paid to Advent are actually quite small, but without knowing progress on other aspects of regulatory filings, I don’t have a good feel for the complete picture what other expenses have occurred over the past two years. Therefore, I question the size of “the investment in Advent” if any. They have not been working with a lot of money.

It seems to me that Advent is self-funded but benefits from a service contract with NWBO. This service contract to me appears to be below market rates actually for the past few years. Therefore, I expect there to be more significant gains in the future for Advent. What I am getting at, is it seems to me that this arrangement may have benefited me as a shareholder more than investment in a subsidiary would have, given the conditions at the time and the certainty of the future.

But I do value your knowledge here and am open to your thoughts