NorthWest Biotherapeutics Inc (NWBO)

[Poor Man -]

Every shareholder should understand they’re voting for a true up that was never disclosed during the last vote — I won’t vote in favor of anything when I was not told the truth the first time around. This is an attempt by management to offset the dilution that they themselves caused, which will result is less value for each share you own. In effect, paying management for their own bad performance. We call that in the business, moral hazard.

The cash that the company might receive from the exercise of the options will be significantly less than if there were no options and the company simply sold the same number of shares to institutional investors. That amount would be a multiple of cash to the company relative to the option exercise; presumably this all happens when the stock is listed on a major exchange.

I would also like to be handed a boatload of more shares for the dilution I had no control over. Bottom line, the true up award is in the best interest of management (and perhaps someone else in the trunk of the Uber) at the expense of common shareholders.

I can’t figure out why someone would want less value for their shares so that a couple of already multi-millionaires will become wealthier?

If you don’t want to be fair to other shareholders, at least be fair to me…since I live on a park bench.