Replies to post #359832 on NorthWest Biotherapeutics Inc (NWBO)

[CrashOverride]

Usury.

[thermo]

Well, I guess one can define "toxic" as anything one doesn't like. But wouldn't "expensive" be a more appropriate word?

I think a good definition of a toxic instrument is one where the number of shares outstanding is variable. It means one can not calculate valuations. It also precludes closing any normal future financing. Hence, toxic as in it will kill you.

I can still calculate enterprise values if a company issues deeply discounted common or high interest debt. I might not like it, but I can determine values.

I also stand by what I said on the attractiveness of the debt terms. Suggest you go through scenarios and calculate shares outstanding under different financing strategies.