NorthWest Biotherapeutics Inc (NWBO)

[JerryCampbell]

Kab,

The first violation was regarding Cognate in 2014, 2015.

This nwbo PR explains the 2nd violation regarding offerings betwwen May, 2016 and Nov, 2016. Key section quoted below.

https://nwbio.com/nw-bio-announces-decision-to-voluntarily-withdraw-from-nasdaq-listing-and-begin-trading-on-otc-market/

"As previously reported, on November 7, 2016 the Company received a letter from the Nasdaq Staff indicating that the Staff had determined to aggregate a series of financing transactions that were completed between May 15, 2016 and October 13, 2016, although the transactions were in many cases small and diverse, and involved a number of unrelated parties. Based upon the aggregation, the Nasdaq Staff determined that the transactions did not comply with Nasdaq’s Listing Rule 5635(d) since, in the aggregate, they exceeded 20% of the number of shares outstanding prior to May 15, 2 016. The Company engaged in remediation discussions with the Nasdaq Staff. However, the Nasdaq Staff ultimately determined not to accept the Company’s proposed plan of remediation. As noted above, given that the Nasdaq Staff determined to aggregate these transactions and that the last transaction did not occur until October 13, 2016, the Company’s understanding is that it would likely be foreclosed from completing further significant financings until at least sometime in Q1 2017."