NorthWest Biotherapeutics Inc (NWBO)

[longusa]

My calcs are that the 38.5m was as of end of Q3 (which is where most of the sites get their data: the latest 10Q or 10K). Then add the Nov cap raise shares, the Cognate deal shares, and 2-2.5m exercised warrants she mentioned in the webcast to get to the 51m. Given 2-2.5 warrants exercised, I have 21-21.5m still outstanding at prices $4 - $12. So 72-72.5m shares fully diluted.

We'll be able to check our math when they put out the 10K for 2013.