NorthWest Biotherapeutics Inc (NWBO)

[exwannabe]

You do understand that shares “authorized” for possible ultimate issuance, and shares actually issued, are two different things I hope.

This has nothing to do with authorized shares. This is shares, options, warrants and converts already issued. As of end of Q2:

1,230M Common issued
0,317M Options outstanding
0,095M Warrants outstanding
0,059M Convertable notes
0,032M C pref shares (at 25X conversion)
---------
1,733M Shares that are legally owed by NWBO

If somebody writes a check to NWBO for the company, it must be paid to all of the above. Therefore that number is how to convert buyout total price to PPS (minus a small adjustment for exercise price).

EDIT: Missed

The fact is, all companies have many more authorized shares than they hope to ever issue.

That is a hoot. When you showed up the authorised share limit was 450M. Since then you have campaigned for two raises of the limit.