As is typical of your posts, you take a sentence and put it out of context, and then imply it means something entirely different.
My post was not focused on the Phase Five report. It was focused on the report pretending to refer to the ANNUAL report of NWBO, saying that it had just come out, when in fact, the relevant report had come out in early 2014, reporting on the financials for 2013.
"Phase Five's report came out in 2015. It "found" nothing that had not already been highlighted by the company and that was not being remedied. "
This is what I said in context, in your reference to a Sunday Times article that is grossly inaccurate, and further references the Phase Five report, suggesting that the company had only JUST THEN acknowledge something that in fact, their own audit processes had highlighted quite some time prior to the Phase Five report. The implication was it was an "Admission" in reference to the Phase FIve report, when it in fact was not. The facts are here: http://investorshub.advfn.com/boards/read_msg.aspx?
Here's the 10Q and 10K/A (4/29/16) from approximately that period. The article is dated 5-1-16. I'd like you to find the relevant section where that is actually shown in the financials from that period? The article is written as though this is an admission of culpability. I didn't see it in the relevant financial report. Maybe I was just looking too quickly.
However, I did find that their regular audit processes, from 2014 had PREVIOUSLY disclosed that issue, prior to Phase Five's report, not as an admission of culpability, but as a measure to IMPROVE their processes. Long before it was suggested, by the fakers, it was [ALREADY] a part of the company's improvement and audit process, it appears. Phase Five's report came out in 2015. It "found" nothing that had not already been highlighted by the company and that was not being remedied. Neither did that reporter. His report suggests it is in relation to Phase Five's allegations, as though, again, there is some admission here of culpability.
I think your ability to find that and point it out is very interesting.
Links to the various NWBO annual reports are in my previous posting, linked to above. Anyone can search them for the relevant sections. You'll find the section in the 2013 Annual report, published in 2014.
The "nothing" was in reference to the supposed admission of culpability implied by the Sunday Times article, and your posting here yesterday. Long before Phase Five ever existed, the company's audit processes apparently suggested there was room for improvement, they addressed it in their annual report, which is certified under Sarbanes-Oxley in all cases, and then it was apparently corrected. The Phase Five report came out much later, and then the article implies that these "admissions" came as a result of the Phase Five report, and suggest it's a house of cards and the price had declined because of the supposed "admissions".
This is why the company clearly should not likely spend a lot of time sweating making additional or unnecessary disclosures, because there are dishonest forces in the world that seek to manipulate the understanding of facts, by twisting timelines, taking previously disclosed details and suggesting they relate to subsequent accusations that did not exist at the time of the internal audit procedures which are there to ensure they are ready for bigger things. Those earlier addressed efforts were in place to ensure that a small company's procedures were up to snuff. But the disclosure and then subsequent attacks on the company in this context clearly were meant to effectively destroy it and put it in the worst possible light. It's fundamentally deceptive, as is anyone referencing it without the facts.
Honestly, if it were a company I were running, not only would Phase Five be in court, so would the Sunday Times, under UK libel laws, and those authors. Very easy laws, by the way, and probably a number of posters. I would know their identities, affiliations and exactly what they were up to, and I'd track that right back to their masters, because they're not the one driving this truck, clearly.
If I were a shareholder at the time, I was not, I would be questioning whether a skillful lawyer could not craft a class action for all shareholders at that time, for a variety of torts and securities actions, including a RICO suit. Each additional posting, without correction and each allegation, would raise new claims, and create new plaintiffs, I suspect.
The report referenced by you, in a previous posting:
Here is some of the report, which is grossly inaccurate, one can establish by both the time line and reference to the annual reports which came long before the report, in reference to INTERNAL NWBO audit related work that they did to police THEMSELVES.
learningcurve2020 Friday, 01/27/17 05:35:30 PM Re: learningcurve2020 post# 98633 Post # 98640 of 98753 Go "A biotech company backed by star investor Neil Woodford has admitted it is incapable of policing internal fraud or related-party transactions.
Its annual report also said plans to improve its financial controls were “uncertain”.
Shares in Northwest Biotherapeutics, which is developing a brain cancer treatment, have plunged nearly 90% since last summer." This is laughably inaccurate and takes it's fundamental facts from a report that is also laughably inaccurate, when one drills down again, into the details.
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THE TIMES THE SUNDAY TIMES
Woodford’s bet admits fraud risks
Danny Fortson and Peter Evans Published: 1 May 2016
Shares in Northwest Biotherapeutics have plunged nearly 90% since last summerShares in Northwest Biotherapeutics have plunged nearly 90% since last summer ( Andrew Brookes/Getty Images) A biotech company backed by star investor Neil Woodford has admitted it is incapable of policing internal fraud or related-party transactions.
Its annual report also said plans to improve its financial controls were “uncertain”.
Shares in Northwest Biotherapeutics, which is developing a brain cancer treatment, have plunged nearly 90% since last summer.
In October, the US-listed company was labelled a “house of cards” by the investment firm Phase Five Research. It alleged that the chief executive, Linda Powers, had funnelled millions of dollars from the company into other businesses she controls.
Northwest denied wrongdoing and set up a special committee, led by a former justice department lawyer, to investigate the allegations. It has yet to reveal its findings.
In its latest annual report, Northwest revealed seven “material weaknesses” in its financial controls. It “did not maintain an effective anti-fraud programme designed to detect and prevent fraud relating to an effective