Sugarmade Inc (SGMD)

[MallenNV]

NWBO is a development stage company (Means they have and do nothing) they operate out of “YET AGAIN” an office suite.

They have 1 billion shares in the float and 1,700,000,000 authorized (For now). That means they have 700,000,000 to use on debt conversions.

5 ticker changes.

They have massive debt and no cash! With no cash they have no choice but to debt dilute, take the cash and blame others to divert shareholders from a class action. Although some have and are suing the company. Seems like your typical debt diluted scheme.

As per the SEC;
SEC Files Settled Action Against Biotechnology Company Related to Unremediated Material Weaknesses Spanning Twelve Years
ADMINISTRATIVE PROCEEDING
File No. 3-19582
October 10, 2019 - The Securities and Exchange Commission today filed a settled action against Northwest Biotherapeutics (NWBO) for failing to maintain internal control over financial reporting (ICFR) for twelve consecutive annual reporting periods. In each of its annual Form 10-K filings with the Commission over more than a decade, NWBO disclosed material weaknesses, many of which recurred year after year, with insufficient effort at remediation.

ALSO! $41 million in stock options to debt dump to investors.

A Northwest Biotherapeutics Inc. Investor sued members of its board in Delaware, claiming they gave themselves nearly $41 million in stock options in an “unprecedented and indefensible” effort to offset the dilutive effects of a financing transaction that caused them “absolutely no economic harm.”
The lawsuit, made public Wednesday, alleges a “gross abuse” of fiduciary power by the directors who engineered the “true-up” deal after issuing equity on terms that equally diluted every stockholder while increasing the company’s overall value. The board members and general counsel, who also participated in the true-up, had no right “to own a specific percentage ...

Andrews & Springer LLC announces that it has filed a class action lawsuit on behalf of Northwest Biotherapeutics, Inc. ("NWBO") and minority shareholders in the Delaware Court of Chancery - Case No. 11179. NWBO is a biotechnology company focused on developing immunotherapy products to treat cancers more effectively than current treatments without toxicities of the kind associated with chemotherapies.

The complaint alleges that NWBO's Board of Directors along with its CEO and Chairperson Linda Powers ("Powers") and entities under her control -- Toucan Capital Fund III, L.P., Toucan Partners LLC and Cognate Bioservices, Inc. ("Cognate") -- breached their fiduciary duties by causing the Company to convert some of Cognate's outstanding invoices and future invoices (for prior services provided to the Company) into NWBO equity at an unfair price at the expense of the Company and minority shareholders.

Paying off debt to convert to debt shares to sell cheap, that was a company action not the MM's.

Any of the news about this being the market makers fault may be true but the company set them up to debt dilute. I thing the company is just blaming others for actions they did to get sympathy from investors to prevent another class action while the company unloads more shares to get out before they ticker is deleted.

Its ALL ABOUT self enrichment nothing else. https://nwbio.com/Stipulation%20of%20Settlement.pdf