Replies to post #145063 on NorthWest Biotherapeutics Inc (NWBO)

[kabunushi]

Apparently, from this clause it looks like they will use the common shares to reward and recruit current and future employees at NWBO. They will be pouring it back to the business

I don't know what wording gives you that idea and I think it's rather unlikely. As I replied to hyena, I read the "15% of currently outstanding shares" as just a number, and required to clarify that it's not 15% of the number post new shares being exchanged for Cognate's payables (preferred shares), which would of course be larger. I.e. that is not clarifying which shares and being shares that are already registered or will be registered to Cognate. In any case, I'm pretty sure the reward to employees will be in the form of options or warrants, not actual shares, that's by far the usual practice and probably has tax consequences vs giving the people shares. And I'm also certain that the actual implementation of this has to wait until after more shares are authorized, which is required anyway in order to create the new common shares that Cognate's preferred shares will be convertible into.

Linda is almost certainly not going to give up a huge % of the Cognate shares - they are not hers to give up to NWBO people, as they belong to Toucan and/or other owners of Cognate and in the impossible event that is what was meant, it would be stated because that would not even be of direct concern to NWBO. Anyway, they are trying to finally make Cognate and NWBO be really independent companies, so the thought that Cognate is going to give some of their NWBO shares 'purchased' with their overdue APs from NWBO, to NWBO employees as a form of compensation for their work for NWBO certainly doesn't make any sense to me.