Replies to post #408095 on NorthWest Biotherapeutics Inc (NWBO)

[DCSwamprat]

300,000 at .25, doesn't really raise much capital but can dilute.

[AngeloFoca]

Below is a condensed version of CaptainObvious's data ... so as to make the option exercise rate more... Obvious

From 2/7/2020 to 10/9/2021 - 262,228,093 more shares are outstanding... which I think is... outstanding

Let me explain why. - first I assume (confidently) that they are cashless warrant exercises. - Let's further ASSUME for the sake of ease of visualization that the warrant price was $.25. - Let's further ASSUME for the sake of ease of visualization that the AVERAGE share price on day of exercise was $1.50. of course it may have been somewhat more or somewhat less... but I think $1.50 is a decent AVERAGE... let's also assume for the ease of visualization that the warrants exercised is 300,000,000 rather than 262,228,093.

Now 300,000,000 warrants exercised @ 25 cents each would bring in $75 Million but since they are cashless then $75 million divided by the $1.50 average price per share at time of conversion... would be 50 million shares which NWBO would retain for itself - so although the number may show 262+ Million shares added to the outstanding shares the actual number of warrants exercised is actually ~ 320 Million warrants.

Now I'll try and explain why warrant exercised when the share price is lower is better than when they are exercised when share price is higher.

Again a lot of assumptions... 4 million warrants exercise price 25 cents - share price @ $1.50 - cost in cash $1 million. If cashless... $1,000,000 divided by $1.50 = 666,666 shares retained by NWBO... 3,333,333 shares awarded to warrant holders.

Now... 4 million warrants exercise price 25 cents - share price @ $10.00 - cost in cash $1 million. If cashless... $1,000,000 divided by $10.00 = 100,000 shares retained by NWBO... 3,900,000 shares awarded to warrant holders.

It may be somewhat confusing but the more warrants that are converted cashless at lower prices the better for NWBO and us shareholders... ASSUMING that stock price appreciates as we all hope it does.

Also I believe that if there are now 262K more outstanding shares then because they were cashless NWBO has retained approximately 60 million shares which it has added to the shelf.

10/09/21 - 889,882,057
09/09/21 - 873,117,920
08/07/21 - 872,433,236
07/03/21 - 870,142,647
06/02/21 - 853,473,626
05/07/21 - 851,564,728
04/09/21 - 842,970,418
03/09/21 - 838,233,905
02/09/21 - 831,744,500
01/12/21 - 822,825,147
12/09/20 - 820,910,073
11/09/20 - 810,613,651
10/08/20 - 776,813,079
09/14/20 - 758,362,783
08/07/20 - 731,499,352
07/09/20 - 722,256,882
06/08/20 - 699,966,420
05/07/20 - 688,978,847
02/07/20 - 627,653,964

[CaptainObvious]

10/13/21 - 890,882,057
10/09/21 - 889,882,057
09/29/21 - 889,559,870
09/28/21 - 889,218,073
09/24/21 - 889,142,448
09/23/21 - 879,465,729
09/22/21 - 878,275,792
09/17/21 - 875,642,086
09/15/21 - 875,327,086
09/10/21 - 873,603,852
09/09/21 - 873,117,920
08/28/21 - 872,874,953
08/24/21 - 872,691,130
08/19/21 - 872,621,686
08/14/21 - 872,440,436
08/07/21 - 872,433,236
08/05/21 - 870,824,814
07/30/21 - 870,793,703
07/28/21 - 870,484,903
07/22/21 - 870,329,347
07/21/21 - 870,293,347
07/20/21 - 870,275,347
07/16/21 - 870,257,347
07/03/21 - 870,142,647
06/30/21 - 857,080,301
06/26/21 - 856,503,378
06/22/21 - 855,890,929
06/18/21 - 855,045,929
06/16/21 - 854,323,819
06/02/21 - 853,473,626
05/29/21 - 853,456,626
05/28/21 - 852,581,626
05/22/21 - 852,127,081
05/21/21 - 851,644,728
05/18/21 - 851,582,228
05/07/21 - 851,564,728
05/06/21 - 851,023,745
04/30/21 - 849,500,730
04/29/21 - 848,717,113
04/28/21 - 848,417,113
04/23/21 - 846,617,113
04/22/21 - 846,487,219
04/21/21 - 846,373,583
04/19/21 - 844,730,236
04/15/21 - 844,648,418
04/09/21 - 842,970,418
04/08/21 - 842,915,362
04/07/21 - 842,746,304
03/30/21 - 842,289,193
03/26/21 - 842,137,013
03/19/21 - 842,097,013
03/12/21 - 841,530,230
03/11/21 - 838,448,586
03/09/21 - 838,233,905
03/05/21 - 838,017,922
03/04/21 - 835,188,128
02/23/21 - 832,341,852
02/22/21 - 832,129,352
02/17/21 - 831,977,833
02/13/21 - 831,961,953
02/12/21 831,744,500
02/09/21 831,744,500
02/08/21 831,722,000
02/04/21 831,167,137
02/02/21 830,293,205
01/22/21 824,282,898
01/21/21 824,028,953
01/20/21 823,934,490
01/14/21 823,812,708
01/13/21 823,729,909
01/12/21 822,825,147
12/31/20 822,716,397
12/24/20 822,485,629
12/11/20 822,454,379
12/10/20 822,404,379
12/09/20 820,910,073
12/07/20 819,850,215
12/03/20 819,824,382
12/02/20 817,548,678
11/24/20 817,536,423
11/20/20 817,464,808
11/18/20 816,922,798
11/12/20 816,436,907
11/11/20 810,813,651
11/09/20 810,613,651
11/06/20 808,498,259
11/05/20 808,373,259
11/04/20 808,311,984
11/02/20 807,946,487
10/28/20 807,698,448
10/26/20 804,384,125
10/23/20 802,283,307
10/22/20 800,561,923
10/21/20 797,289,917
10/19/20 789,804,238
10/16/20 785,428,896
10/15/20 783,576,935
10/14/20 782,576,935
10/13/20 777,813,079
10/08/20 776,813,079
10/07/20 776,255,389
10/05/20 771,141,842
09/28/20 769,383,390
09/21/20 763,433,310
09/18/20 762,555,813
09/16/20 760,248,120
09/14/20 758,362,783
08/31/20 748,612,103
08/21/20 742,427,728
08/19/20 742,015,228
08/14/20 735,437,097
08/13/20 732,312,097
08/07/20 731,499,352
07/30/20 724,899,766
07/29/20 724,649,766
07/24/20 724,599,766
07/15/20 724,039,491
07/13/20 723,603,833
07/09/20 722,256,882
07/08/20 721,427,831
07/01/20 718,790,531
06/25/20 717,047,575
06/24/20 715,919,800
06/22/20 714,391,000
06/19/20 711,891,000
06/18/20 711,091,000
06/15/20 710,282,469
06/12/20 704,317,885
06/10/20 702,205,385
06/08/20 699,966,420
06/01/20 693,572,022
05/13/20 689,198,847
05/07/20 688,978,847
05/06/20 687,706,428
04/29/20 684,105,383
04/24/20 683,620,327
04/23/20 680,373,719
04/22/20 677,105,745
02/26/20 630,252,281
02/21/20 628,779,448
02/07/20 627,653,964
02/06/20 626,609,955
01/30/20 625,434,074
01/27/20 625,187,160

Shares outstanding from
https://www.otcmarkets.com/stock/NWBO/quote