NorthWest Biotherapeutics Inc (NWBO)

[Poor Man -]

Perhaps as a large investor, Woodford wanted an independent assessment of how Linda was operating the company. It’s not unusual for investors and companies to hire financial and business consultants.

It’s a small world and conflicts of interest surface all the time in business — especially arrangements that involve experts in the same sectors. I’m sure all the shoe salesmen in the world are two degrees of separation from knowing each other.

I’ll say this, given what I now know about this company and management, if I were to invest $40 million, I would also ask to have an dependent advisor take a look at their business. And I would request a board seat and ratchet provisions in my investment agreement. Neither of which Woodford asked as a condition of his investment.