Replies to post #753856 on NorthWest Biotherapeutics Inc (NWBO)

[FeMike]

Based on your figures, which I assume are from the Q, do you think there are over 1.7 BILLION fully diluted outstanding shares?

From the most recent Q, yes.

No, I don't think we're there yet but if it's not over it's really close. I actually did run a quick estimate on it and can't remember where I landed, but I think we are around 1.6 billion accounting for all of the Pref C's. Not including the $50 million subscription agreement which I really hope gets repaid in cash and not shares.

[exwannabe]

If every sold instrument is converted (as would happen on a buyout) the number at the end of Q3 was 1.792B. This comes from adding balance sheet number at the top of the 10Q to the "potentially dilutive shares" on page 18. As of now, I would guess close to 1.9B.

Technically, "fully diluted" does not mean what most think. The accounting term includes instruments that if converted would dilute existing common based on book or earnings per share. But with a money losing company any such conversion over the market price is actually anti-dilutive, so does not count. The "potentially dilutive" number counts every sold convertible instrument.

There is no law against going over the limit, that is just a contract issue between the holders of the instruments and the company. The law is only wrt actual common issued.