NorthWest Biotherapeutics Inc (NWBO)

[iclight]

I'd argue it's been quite a successful business model. But yeah they didn't describe it to shareholders. It was out in the open though so they shoulda seen it.

1) start BS biotech on old treatment that has shown very little if any efficacy
2) follow a pump and dump scheme and funnel shareholder money into private CDMO at incredible benefit to CDMO and CEO
3) nab an uninformed big fish and steal $95 million
4) sell CDMO while continuing to dilute shareholders into oblivion
5) spin off another CDMO
6) change trial of lone product and announce 5 years after internal decision that the trial did indeed suck but put together some bullshit alternative with no chance of approval.
7) submit trial to MHRA where it can sit in perpetuity with no updates
8) dilute to 2 billion OS, dumping a million shares a day
9) throw out BS shiny objects to confuse shareholders (spoofing, Direct 6.0 which does nothing like Direct 1.0, pump future combo trials that will never move past initial trial pump)
10) retire on private island and laugh at fleeced shareholders over margheritas.