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Replies to post #237173 on NorthWest Biotherapeutics Inc (NWBO)
07/22/19 5:59 PM
In connection with a portion of the new investment of $2.7 million received by Northwest Biotherapeutics, Inc. (the "Company") as reported in the Prospectus Supplement filed on July 18, 2019, the Company did not issue any additional warrants for the new investment by the investors, but the Company, in effect, agreed to extend by twelve months the maturity date of certain existing warrants already held by some of those investors. The twelve-month extension relates to existing warrants which would otherwise be expiring during the next twelve months, and which are exercisable for 33,337,507 shares of the Company's common stock.
Question 8: Where are the shares coming from that are use to short NWBO's stock?
Answer (LP): "Those are great questions, I'm so glad you brought that up. I'll tell you where they'ee getting the stock from, they're getting it from all of you guys. And that's something we are painfully aware of and thinking about and that's all I'll say right now. Most people, most retail investors don't know, that when you sign up for an account with a broker, they usually steer you into a margin account even though most people aren't buying and selling stocks on margin. You're not taking debt to magnify your investment. Buried in these 100-page contracts, you know when you go and click accept, we've printed them out, these 100-page contracts, and buried in the middle of them, the broker can lend out your shares, that you bought, and you own, they can lend them out and there's only one use to can lend them out for, there aren't multiple uses and we're not sure which one they're lending them out for, there's only one use for lending shares and it's to lend them to shorts. They lend them to shorts, they receive stock loan fees as revenue to the broker for lending out your shares, and they're not required to tell you they are lending it out, they're not required to tell you the money they receive, and the only usage of lending out your shares is to drive down the value of your shares. That is the state of affairs today with brokers. And it's even worse when the brokers will put you on this OBO list where you're not even, it's not even visible that you're the shareholder. The best thing is if the shares are in your name, not the street name, not the broker's name and you don't want to be on an OBO list and you don't want to have a margin account, but a lot of the brokers make it difficult or impossible or adverse to have a different type of account. [] The best thing that you guys can do to help, is spread the word far and wide on the message boards, tell everybody, have your stock in your name, do everything possible to be in an account that is not a margin account, unfortunately from what we understand, the rules are being bent, quite far, so that even when it's not supposed to be lendable it is being lent [] at least if your shares are electronic, this really matters. Because in our company estimates are that staggering amounts, in the triple-digit millions, can be involved in this and if we have about 14,400 shareholders, and if everybody would get their shares out of this situation where the brokers are lending itm out without your knowledge, and getting paid handsomely by the shorts for doing so, and keeping that revenue, and by the way, there's lawsuits between the big boys over the amount of loan fees being paid, that's how big the money flows are coming from this. And if you have your shares in an IRA, that's the most juicy target for these brokers because you're not trading. They just sit here. And the more they just sit there the easier it is for the brokers to use them and do this. So the best thing that you guys can do to help, which would be an enormous help, is spread the word and get all the fellow shareholders to get their shares out of this situation. And dry up the supply of shares for shorting Northwest's stock."
07/22/19 6:05 PM
AI
