NorthWest Biotherapeutics Inc (NWBO)

[hoffmann6383]

Ex, I don't think anyone is arguing with what is posted in the 10k regarding the Lease. The point is that you are stating the lease is a bad deal when in reality you need to look at the entire picture and all agreements between the parties. This includes the contract manufacturing agreement. This isn't a typical tenant/landlord arrangement as you have suggested. A typical tenant does not have a concurrent contract manufacturing agreement with the landlord.

I'd encourage you to look at the entire picture and not narrowly focus on a few lines in the lease.

Looking at the whole picture, yes, there is a lease, but there is also an agreement to manufacture dcvax that could lead to revenue of 80-100m/year at a set cost of 5.1m.

Have a good one Ex.