NorthWest Biotherapeutics Inc (NWBO)

[FeMike]

For the last quarter in fact General and Administrative costs are equal to Research and Development costs. Both were 6.8M for the quarter ending March 31st 2023.

For the last quarter G&A was $6.98M and R&D was $6.86M. So as I said, G&A was more, when it shouldn't even be close.

General and Administrative costs likely encompass efforts to get DCVax approved.

While this would make sense in a vacuum, if you look at NWBO historically it unfortunately does not. YoY the spend was even more heavily weighted towards G&A at $7.8M vs $4.8M for R&d. 2021 G&A for the same period was an astounding $13M vs $7M for R&D. This does not support your theory that approval tasks are responsible for G&A spend.

The loans which we took out over the past few years did not involve dilution

Not directly, no, but they are using dilution to pay those debts where they can negotiate it. As I posted, the numbers are right there in the financials. "The firm" has relied heavily on dilution to fund their operations for the past two years. Not debatable. The loans are more deferred dilution. They aren't paying those back with revenue.