NorthWest Biotherapeutics Inc (NWBO)

[JerryCampbell]

No, increases in shares outstanding has nothing to do with warrants or options.

You are also wrong about the last quarter share increase being due to warrants. In the first quarter "proceeds from exercise of warrants" was just $6,000.

Warrants outstanding were 92 million, unchanged from a year earlier. Further, almost all warrants are owned by insiders and blocked from exercise.

"At March 31, 2026, of the approximately 92 million total outstanding warrants listed above, approximately 91 million warrants were under Blocker Letter Agreements or suspension agreements."