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05/03/20 6:48 PM

#281310 RE: iwasadiver #281307

If you click to this link, you'll see that in the last line beginning with "Class D-1 Warrants" at $0.22, that they number 29,411,760. Under the footnote (4), it reads:

4. A $5 million portion of a larger pre-existing debt owed by a third party to the reporting person was paid by assignment of this Series A Preferred Stock and Class D-1 Warrants to the reporting person as the third party was unable to make any repayment in cash.
https://www.sec.gov/Archives/edgar/data/1072379/000114420418014763/xslF345X03/tv488530_4.xml



Then in the Friday night Form 4, the same number of warrants - 29,411,760 @ $0.22 - were what were extended.
https://www.sec.gov/Archives/edgar/data/1072379/000110465920055770/xslF345X03/tm2018427d1_4.xml

What I'm wondering is what exactly was meant by the "other warrants" held by LP that are also being suspended. Why didn't that receive further definition as to what number those were? I'm hoping and thinking that the 10Q will give more clarity on what was meant.
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kabunushi

05/03/20 9:29 PM

#281328 RE: iwasadiver #281307

Diver you are wrong about the 29M expiring warrants being from the loans. All the other expiring warrants beside Linda's had already been extended. Extending Linda's options did zero to any of the at most very few at most remaining warrants that shorts could have been still have been holding to hedge short positions.

Linda has all kinds of warrants she got for all kinds of reasons. That's part of the problem - some of them were sweetheart deals where e.g. nobody else making loans got any warrant coverage but Linda ended up with 100% warrant coverage - a very valuable freebie in addition to the interest she was paid and if I recall correctly that loan was fully convertible as well. She got extra benefits coming and going every possible way on that loan - unless I'm mistaken she got warrants from the start which nobody else ever got just for loans, then the number of warrants was increased twice if I'm not mistaken up to 100% coverage. Was that deserved at all? I don't know who approved those deals and I'm not sure if the reasons for all the warrants like nobody else got was ever clearly justified as fair arms-length dealing.

This latest is yet another very opaque deal where Linda got something different that nobody else got and it appears that her deal was a lot sweeter than anybody else's too. It just might turn out that what she got actually was a fair deal for NWBO but at this point we have no way of knowing that. The burden on proof is on Linda to document exactly what the deal was and some proof that it was fair and name who approved it. That is if she has any interest in avoiding a smell of corruption where her deal is quite unique and she when has a past history of getting sweet deals that are different and better than what anybody else got. cough MFN which really screwed the value of every share of MFN and was a large contribution to the total collapse of the share price.

Now everybody on every side of this here has come up with a different story and very different numbers on this deal. Senti, you seem to be very wrong about the numbers, please recheck. If anybody at the company is giving you wrong information then tell them they are assholes and that they need to get their facts right and to fix their Linda problem for once and for all.

Diver you are dead wrong. You too, if anybody at NWBO told you what you wrote they are an asshole because that info is clearly dead wrong - the numbers don't match at all. Linda should be providing complete, accurate information otherwise Linda and NWBO themselves are inviting more lawsuits we cannot afford by inviting more suspicion and a crazy amount of disinformation. With a unique and hard to value deal the company imo needs to include an accountant's statement that the deal is perfectly fair or I for one will not be able to believe that it is.

Longs should not tolerate this level of bullshit and the appearance of self-dealing. NWBO has no business complaining about how expensive it is to get sued on the one hand and then either giving Linda super sweet deals like nobody else ever gets or even just doing such a poor job of disclosure that it makes it look that way even if it isn't. If this was not Linda getting a very special deal that benefits her at the expense of all other shareholders, then it's on her and NWBOs to give a full and accurate accounting that proves that it was a fair deal. By now they sure as hell ought to know that and act responsibly before they create another very understandable shitstorm. Linda can't keep giving herself large %s of the stock of the company without providing full transparency of every transaction in real time.