Let's discuss Institutional ownership. It's my belief that very few Institutions have charters permitting ownership of penny stocks. If anyone knows of those that can, I'd love to see a list. Perhaps more importantly, most Institutions not only have bottom line prices that they can invest in, most often in excess of $5, but they also are supposed to be industry based. Some might be limited to just biotech's but more would fall into the general description of healthcare. Right now, if we truly have Institutional investors they should be in penny stocks and healthcare, unless they're completely unlimited on what they can purchase. If they're valid Institutions they should file their holding for every quarter, but not until half way through the next quarter.
This is not to say we have no Institutional Investors. Any Institution can invest at the beginning of a quarter and sell by the end of the quarter and never report ownership. MM's are happy to facilitate such ownership, so we'll never really know.
I would suspect that when our share price exceeds $1 we'll pick up some Institutions, many more when over $5, but some in between. I also suspect that many of us, myself included, may hold more shares than many of the reporting Institutions. When an Institution buys in, and holds over a quarter they must report, it doesn't matter if their positions in the hundreds, thousands, or millions, they report. Historically it's likely that by the time our share price reaches $10 it will be majority owned by Institutions. In part it will mean that many of us have sold, but it also will represent new offerings from the company that will be completely sold to Institutions.
With success in approvals and a share price over $3 to $5 I suspect that shareholders will have no problem with authorizing more shares if the company requests it. When those shares are issued you can bet they'll all go to Institutions, or into an equity partnership. It won't happen as soon as it's authorized, just as the shares outstanding haven't risen to the 1.7 billion shares we've authorized, though if all options were converted, they might. The company can apparently allow those options to ride practically as long as they wish as they're in the hands of investors that they're friendly with, or management. NWBO in many years, perhaps in excess of a decade, could have perhaps 5 billion shares outstanding and still be selling in triple digits, but that would assume that DCVax's are being utilized in practically every cancer as part of the SOC. It would give NWBO a market cap that falls close to that of companies like Apple, not impossible, but it won't happen overnight, and of course they could partner, but not be bought out.
Gary
