Replies to post #246981 on NorthWest Biotherapeutics Inc (NWBO)

[hankmanhub]

Not so fast. Paragraph 20 of the SEC Cease and Desist order reads as follows:

"20. Respondent shall require the Consultant to issue the Report by the approved deadline and provide the Report simultaneously to Respondent and the Commission staff. The Report shall evaluate the adequacy of respondent’s ICFR, including controls over related party transactions, as well as controls over public disclosures, and corporate governance matters, and make recommendations for improvements, as may be needed."

That will still take some doing to be fully compliant given some of the deals that LP gave herself. One case immediately comes to mind that is arguably questionable. The D1 and D2 warrants that NWBO issued to LP in March 2018 were on much better terms to herself than the D2 warrants issued some 2 1/2 months earlier to retail investors, while no substantial change in the company prospects or financial position happened during that time to explain the much more favorable terms LP gave herself!

LP gave herself D1 warrants with a 22 cent exercise price and 2 year term, and D2 warrants with a five year term at 30 cent exercise price. Whereas some 2 1/2 months earlier she granted the worst of the above terms to retail investors in their D2 warrants with only only a 2 year term but the higher 30 cent exercise price - the worst combination of terms in both the warrants LP granted herself with no apparent rationale behind the better deal she gave herself!

[Know-Fear]

Box checked, dot the "I" (pick your cliche).....more to come (which is of more interest to me)